How to partner with a nonprofit? Partnering with a nonprofit organization can be rewarding and useful if done correctly. Knowing how partnering with a nonprofit operates is important to ensure you go about it the proper way. There are two main ways to partner with a nonprofit organization.
Top 2 Ways to Partner With a Nonprofit
- Cause marketing, the first way, is the type of partnership that many large corporations choose. Many people have likely experienced cause marketing while buying groceries or going through the drive-thru. If you have agreed to add a dollar or two to your total in order to donate to an organization, you have participated in a company’s cause marketing. Businesses will partner with an organization on the terms that they will advertise and collect donations so their own image is heightened in the eyes of their customers. Regardless of motives behind the agreement, these types of partnerships help nonprofits get their name out, as well as take in worthy donations.
- The second type of partnership is corporate giving, which most people are likely more familiar with. Corporate giving is essentially charitable donations, which can usually be used for tax deductions. This type of partnership can be made by both companies and individuals.
The first step in partnering with a nonprofit is seemingly obvious: know what nonprofit you want to partner with and contact them to begin the partnering process. It is important to have a connection with the nonprofit you choose; however, there are legal issues that must be verified before partnering.
Things to Consider: Legal Framework and Marketing Plan
Always remember to check the nonprofits’ tax-exempt status and ensure that they are eligible for tax-deductions, if that is something you are seeking. Requesting an IRS-issued letter, which states an organization’s eligibility for tax-deductions, can do this.
Formulating a marketing plan is vital when partnering with a nonprofit organization. By making a plan, you can guarantee that your time and money is being wisely spent. Both parties should closely access the plan so that everything is outlined clearly and properly. Important parts of the plan you should remember include a set start and end date, and how money and percentages are to work and be transferred.
Business.gov is a useful website that can help you properly set up a marketing plan for both you and the nonprofit.
Paperwork and proof are necessary when partnering with a non-profit. Because it is a partnership with a transfer of money, the records involved should always be kept so that nothing can be contemplated over later.
When money is being donated or transferred, it is important to never use cash. Doing so allows for the donation or transfer to be lost or stolen. Safer options for both you and the nonprofit, such as checks, allow for the money not to be lost and always traceable.
When donating online, in order to ensure safety, always check that there is a lock icon next to the browser’s status or another indicator that the website is safe.
Finally, promoting your partnership is essential. Though there are advertising laws that everyone should familiarize themselves with before considering serious advertising, it is always a good idea to spread the word about the nonprofit you sponsor as much as possible.
When partnering with a nonprofit, make sure to check your state or nation’s regulations regarding partnerships, because they can vary. For more information about partnering with a non-profit, contacting your state Attorney General’s office is a good way to better understand the laws in place.
– Katherine Wyant