Developing a Successful Corporate Partnership
Jul 24
Posted: under Outsourcing.
For many nonprofit initiatives, success relies heavily upon the effectiveness of corporate partnerships developed to support various aspects of a fundraising campaign. Standing out from the crowd of qualified organizations in order to attract corporate funders is a task that most nonprofits face time and time again. The following suggestions are highlighted in order to help organizations gain a better understanding of what they should do, and look for, when preparing to engage in a successful philanthropic partnership.
First, do your research
I am sure that you work for a spectacular organization that has achieved great successes within your community. Unfortunately, your corporate prospect has received proposals from fifteen other spectacular organizations in the last week alone, and it is their job to weed through proposals to find the ones that are most aligned with their ideals. Therefore, it is critical that you have done your homework and can prove to this prospect that you are the best non-profit partner for their support.
Companies are becoming increasingly focused on ensuring that their financial support is achieving impact and that they are effectively communicating their involvement within the community. Hence, the companies that top your prospect list should be those with which your organization has multiple points of alignment. You should try to identify and develop a compelling message for companies that possess as many of the following characteristics as possible:
- a record of funding organizations similar to yours;
- a stated grantmaking focus on the cause that your organization addresses;
- a significant presence in the location(s) in which your organization operates;
- an inherent business interest in your programs and services (for example, water conservation organizations should seek out beverage companies for which water is an essential ingredient, workforce development organizations should target companies that could benefit from the skilled employees they are training, etc.)
Develop your relationships
Approach each funding partnership like any other relationship. You must first have a clear sense of what you are looking for in a funder, and seek only those that are likely looking for the same type of funding relationship. For example, if the program for which you are seeking funding requires a long-term, hands-on commitment, search for corporate grantmakers that generally make multi-dimensional, multi-year grants, involving not only funding, but also in-kind products and services and a volunteer component. Alternatively, you may not have the capacity to sustain such a hands-on partnership, and may be more suitably-paired with a corporate funder that is satisfied with merely writing a check. The most successful grantmaking partnerships are those that are properly aligned from the start, and in which both fundee and funder are sincerely committed and capable of fulfilling each other’s needs. (There is also the issue of developing and shepherding relationships with the individuals who lead a company’s community relations, but I plan to discuss that in another entry – so look out for it!
Be responsive
It sounds basic, but it’s true, and it is a challenge that so many nonprofits face. If a potential funder calls you, call them back asap. If they ask for additional information to help guide their funding decision, make the effort to provide exactly what they want. Make sure that contact information is easily found on your organization’s website, and that voicemails of absent employees refer callers to alternate employees. Now, with the issues of lay-offs, the growing ability to work from home, and the heavy reliance on volunteers and part-time staff, it is even more important that there is someone regularly checking voicemail and ensuring that messages receive a timely response. Many organizations have missed out on corporate funding opportunities because they did not respond quickly or professionally, or because it took a wild goose hunt to get in touch with the right person.
Determine your resources
In order to approach your potential corporate partner with a mutually-beneficial proposition, determine the resources that your organization possesses which it can bring to the table. In other words, what do you have to offer? For example, nonprofits often have the ability to engage employees in a meaningful way, whether through regular volunteer opportunities or a customized event. A youth arts program could set up an exhibit in the company’s lobby, or employees could host students from a youth development organization for a day of job shadowing.
Your Board seats may also be a coveted asset, offering valuable leadership training opportunities for mid-level employees, or the right networking environment for senior level management. Finally, non-profits often have the ability to provide recognition to their partners. Even companies with hearts of gold want to be recognized for their good deeds. Offer creative opportunities to recognize your partners via your website, newsletters, events, and your annual report.
Finally, make sure you can cite results to support your organization
Just as accountability and transparency have become requirements in the private sector, corporations are increasingly looking to fund organizations that can provide evidence of their impact. If you do not already have one, consider developing a Fact Sheet that presents statistics such as the number and demographics of individuals served; market penetration; your financial information, and other data pertaining to important outcomes. Additionally, be proactive about offering to provide your potential partner with any evaluation results that you obtain throughout the year, publicity alerts (particularly those that mention your corporate sponsors!), newsletters, and other materials that are developed throughout the duration of the grant. Also, offer to provide the company with interim and/or final reports and site-visit invitations, even if they do not require them, in order to keep them apprised of your progress and demonstrate your commitment toward putting their funding to good use.
For professional assistance in building a corporate partnership plan or reaching out to potential partners in Atlanta, Corporate Community Outsourcing might be one of the best resources available. Corporate Community Outsourcing exists to serve and strengthen communities by providing nonprofit organizations and corporations with the tools and resources for philanthropic effectiveness, and has a client base ranging from The Coca-Cola Company and Delta Airlines to Hands On Atlanta and The United Way. Remember, building the right corporate partnerships can have a tremendous impact on the success of your organization.
Article written by Fabiola Charles for Examiner.com
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