The Benefits of Corporate Partnerships
In recent years, reports have increasingly linked business success with corporate responsibility. This has led corporations to team up with the nonprofit sector more than ever before. The corporate community has proved itself a powerful ally to nonprofits.
Indeed, partnering with the right corporation can help your nonprofit access new donors, funding, and resources while increasing your visibility. When this relationship is sustained over time, your nonprofit can even explore new strategies for developing solutions to social problems.
Let’s explore a few of the benefits that you can enjoy by teaming up with a corporate partner.
The short list of benefits
There are tons of ways that your nonprofit can benefit from a corporate partnership.
- Larger donor base — According to a report by Fidelity Charitable, 87% of volunteers say that there is an overlap between where they volunteer and where they make charitable contributions. Furthermore, 50% of volunteers say they actually give more because they volunteer. So if your corporate partnership has an employee volunteer component, then you have the potential to greatly increase your donor base.
- Increased access to funding and resources — When you combine your resources with a corporation, your nonprofit can maximize its capacity for social and humanitarian response. The corporation may have access to resources — like software, a marketing team, or equipment — that your nonprofit may not be able to accommodate in its budget.
- Increased visibility — Partnering with a corporation may cultivate greater awareness for your cause. The corporate partner’s marketing and communications support can lead to increased exposure of your programs to the greater public.
A 2017 Boston College Center for Corporate Citizenship report claims that the majority of company executives report a greater likelihood of achieving business objectives when their companies participate in corporate citizenship activities for more than four years. These same executives are twice as likely to report that they are successful in enhancing their public reputation, and are almost twice as likely to reduce employee turnover. Corporate responsibility is catching on, and corporations are looking for partners! It’s time to seize this opportunity and find the perfect partner to support your cause.
Stay tuned for an our in-depth guide on building and sustaining corporate partnerships!
Originally published at Galaxy Digital.