The benefits of corporate fundraising
GSK and Save the Children. Fairy Liquid and Make-A-Wish Foundation. Innocent Smoothies and Age UK.
These are just three examples of successful corporate fundraising partnerships where charities and businesses join forces to raise awareness and money for a cause.
If you haven’t considered partnering with a business, you should, as it can be extremely rewarding.
Take the partnership between Innocent Smoothies and Age UK. Innocent has raised a staggering £ 3 million for the charity since 2005, by donating 25p from the sale of every bottle with a knitted hat. That’s a huge amount for very little work on the charity’s part.
However, funding isn’t the only advantage of corporate fundraising. You and your corporate partner will benefit from positive PR and heightened brand awareness.
Corporate Fundraising in action
Corporate fundraising takes many forms, from matched giving (where a company matches the amount employees raise through their own fundraising initiatives) to employee volunteering.
Let’s have a look at a few examples:
Staff fundraising events
Some employers like to raise money by organising their own fundraising events. P&O Cruises raised an impressive £300,000 for Teenage Cancer Trust between 2015 and 2020 by organising a series of activities, such as foreign coin collections and summer fetes.
Members of the P&O team also ran the London and Edinburgh Marathons to raise money.
At least half of the £300,000 was raised through P&O’s ‘Trek the Deck’ challenge - a 5km walk around the ship’s deck. Guests donated £10 to enter and received a co-branded t-shirt on completion.
Donating profits
Some companies donate a percentage of their profits to charity.
For example, British spring water brand, Thirsty Planet donates a fixed amount from every bottle of water sold to Pump Aid, a charity that provides cost-effective, sustainable clean water solutions throughout Africa.
Checkout collections
There’s a long-standing tradition of retailers requesting donations on behalf of charities at the point of sale (before the world went digital, it was done via a donation box on the till).
Today, it’s more common to make a digital donation at the online checkout.
Take trade tool retailer Screwfix. They prompt online shoppers to round up their purchase to the nearest pound, with the extra pennies going to charity.
Employee volunteering
Some companies choose to support charities by offering employees time rather than cash.
Employees at XPO Logistics help families in need each Christmas by delivering more than seven tonnes of food to 35 food banks.
Over 8,700 employees support the initiative.
Selling merchandise
Some retailers support causes by selling charity merchandise through their outlets.
A prime example? Sainsbury’s supports Comic Relief and The Royal British Legion each year by selling red noses and poppies.
Common pitfalls
While corporate fundraising partnerships can pay dividends for both parties, without the right preparation, they can be riddled with problems.
Here are a few potential pitfalls to consider.
Ethical conflicts
Companies that operate in controversial industries will sometimes enter into charity partnerships to ‘whitewash’ their activities.
There’s a fine line between a company being socially responsible and cynically trying to improve its reputation through association.
Misaligned expectations
With multiple stakeholders on each side of the partnership, it’s easy for expectations to diverge. The best way to avoid this is a written agreement. Even if it’s a loose partnership, create a short ‘memorandum of understanding’ so everyone is on the same page.
Getting it right
Corporate fundraising is a complicated, long-term strategy that takes years to master. This is why you need a top-notch corporate fundraiser on board to ensure things run smoothly.
Enter Bamboo.
Specialists in fundraising recruitment, we can help you find an experienced Corporate Fundraiser to ensure you get the most out of the partnership.
Call us on 0203 750 3111 to talk tactics.