Virginia Beach, Norfolk, Newport Matching Gifts

Virginia Beach, Norfolk, & Newport News Matching Gift Companies

Did you know that matching gifts could potentially double your nonprofits current donations? Double the Donation works with nonprofits to increase their fundraising from these unique programs. We’ve created a short list of companies in the Virginia Beach, Norfolk, and Newport area that currently offer these programs.

Corporate Philanthropy in Virginia Beach

Virginia Beach is the most populous city in the state of Virginia. Several large corporations operate within this resort city, although tourism remains a driver in the economy.

To help local nonprofits navigate the sometimes difficult matching gift process we’ve created a list of a few employers in the Virginia Beach area that offer best-in-class matching gift programs.

Geico

Geico will match employee donations to most nonprofit organizations. Donations between $25 and $5,000 are eligible to be doubled by the company.

Read more about the Geico employee matching gift program.

Bank of America

Bank of America and Merrill Lynch will match donations made between $25 and $5,000. Part-time and retirees are also eligible for this program. Bank of America will match to almost all nonprofits.

Read more about the Bank of America Merrill Lynch corporate matching program.

HSBC

HSBC matches donations up to $3,500 per employee each year.

Read more about HSBC’s employee matching program.

Norfolk Southern Railway

The Norfolk Southern Railway Company is one the most generous local companies when it comes to matching gifts. They will match up to $35,000 for current employees. Retired employees can have up to $25,000 in donations matched each year.

Read more about the Norfolk Southern Railway corporate matching program.

New York Matching Gifts

New York Companies with Matching Gift Programs

Since Double the Donation’s nonprofits clients come from across the country, we thought it would be beneficial to highlight a few select matching gift companies in key markets. New York City is the most populated metropolitan area in the country so we decided to highlight this city first.

Like most major markets, New York is home to many large employers who offer matching gift programs. With 45 Fortune 500 companies calling New York home, many employees in the New York metropolitan area work for companies with matching gift or volunteer grant program. Is your organization tapping into this source of corporate giving?

Statistics on New York Matching Gift Companies

If you dig into your organization’s database of corporate donors from the past few years, you’ll notice you received matching gifts from a variety of companies. Some are probably headquartered in your area while others may have a much smaller presence. Here are a few statistics on the New York market that may interest you:

  • 45 Fortune 500 companies call New York home.
  • 90% of Fortune 500 companies have a presence in New York
  • 65% of Fortune 500 companies match donations made by their employees
  • 40% of Fortune 500 companies offer volunteer grants for employees

Companies in New York with Matching Gift ProgramsTop 10 Fortune 500 Companies in NY: Matching Gift Companies Highlighted

While it’s impossible to dive into details on all of the companies in New York which offer matching gift programs, let’s take a look at some of the area’s largest employers.

Based on the recently published Fortune 500 list, Verizon (#15), JPMorgan Chase (#16), and IBM (#19)  are the three largest companies headquartered in NY and all three offer employee giving programs.

 

Verizon

Verizon Matching GiftsVerizon offers both a matching gift and volunteer grant program for employees. The company matches up to $5,000 to schools and $1,000 to all other nonprofits per employee each year.

Additionally, through the Verizon Volunteer Incentive Program, employees who volunteer for 50 hours in a calendar year can request a $750 grant for an organization.

Learn more about Verizon’s employee giving programs.

JPMorgan Chasejp-morgan-chase-matching-gifts

JPMorgan Chase offers both a matching gift and volunteer grant program. The company matches up to $1,000 per employee or retiree each year to pretty much any school or nonprofit.

The company also offers a tiered volunteer grant program where grants average $10 per hour volunteered. The grant amount varies based upon the number of hours an employee volunteers.

Learn more about JPMorgan Chase’s employee giving programs.

IBM

ibm-matching-giftsIBM also offers multiple types of employee giving programs. Not only does the company offer matching grants on donations and cash grants for volunteering, but IBM allows nonprofits to receive a significantly larger donation if the organization elects to receive IBM technology instead of cash.

For instance, IBM offers a 2:1 technology grant on employee donations which means if an IBM employee donates $500 to your organization, you can receive $1,000 in IBM equipment or $500 in cash.

Learn more about IBM’s employee giving programs.

American International Group (AIG)aig-matching-gifts

AIG focuses its philanthropic efforts on three main groups of giving:

  • Safety – auto safety, disease prevention, programs that help prevent improper use of prescription drugs
  • Security – financial and educational programs that drive safety
  • Disaster Relief – including support of disaster preparedness and repair of infrastructure in the wake of a catastrophe

AIG has a matching gift program with a minimum match of $25 and a maximum of $5,000 per employee per year.

Learn more about AIG’s employee giving programs.

Philip Morris (Altria Group)

philip-morris-matching-giftsPhilip Morris gives back to its community by donating to organizations with a presence in the areas in which its employees live and work, as well as in the farming communities where it sources its tobacco. The company focuses its charitable giving in five areas in particular:

  1. Hunger and extreme poverty
  2. Education
  3. Rural living conditions
  4. Domestic violence
  5. Disaster relief

Philip Morris has a matching gift program in place where the minimum amount matched is $25 and the maximum amount matched is $30,000. It also has a volunteer grant program that allows a $500 grant to be given to an organization after an employee has volunteered a minimum of 25 hours at that organization.

Learn more about Philip Morris’ employee giving programs.

Other NY based Fortune 500 companies with employee matching gift and volunteer grant programs include:

Additional Resources: Matching Gift Companies in Metropolitan Areas

If you’re like most organizations, you probably aren’t maximizing fundraising from matching gift programs. A great place to start is making sure everyone in your organization is familiar with the largest employers in your area.

If you want to take it a step further, consider providing donors and volunteers with detailed information on their company / their spouse’s employer. By raising awareness and making it more convenient for them to submit the grants, you’ll see an increase in fundraising from these sources.

Bottom line: Many of New York’s leading employers match employee donations to nonprofits. Make sure everyone in your organization’s membership and development offices is familiar major employers in your area that match employee donations.

Nonprofit Leadership Traits

Reader Question: What Happens When Both a Husband and Wife Work at Two Different Matching Gift Companies?

Every once in a while, we get a question from one of our clients or visitors which we feel is worthy of sharing. Let us take a look at two similar questions we’ve received:

Question #1:

If a donation is made from a husband / wife who work at two different companies that offer matching gift programs, is there a general rule that says that donation can only be matched by one company?

Thanks,

Henry

Question #2:


Greetings,

We have a married couple who have each submitted a request to their respective employers for their gift to be matched. The gift in question was made online by the husband so he got hard credit for it, but it could have just as easily been a check from a joint account.

Has anyone had this happen – and did you confirm the gift with each (different) company? Feel free to reply offline.

Thanks

Answer: The general rule of thumb is that both individuals are able to submit a matching gift request to their respective employers. Assuming the standard case where companies match donations dollar for dollar, a single donation would effectively be tripled. We rarely, if ever, see a rule preventing a gift from being matched by multiple companies.

A more common occurrence is for both the husband and wife to work for the same matching gift company. If that’s the case, one of three things typically occurs:

  1. The company will provide a double match. For example, rather than matching at a 1:1 ratio, the company will match at a 2:1 ratio.
  2. The company will provide the same matching gift ratio, but double the limit. For instance, instead of matching all donations up to $5,000 annually, the company will match donations up to $10,000 annually.
  3. The company provides the couple with the same benefit that an individual employee receives.

Why Does This Information About Matching Gift Programs for Spouses Matter?

Your organization may already incorporate many of our top ways to promote employee matching gifts, but don’t forget to also promote matching gifts for spouses.

Do you provide donors with an acknowledgement letter after they submit the matching gift request or upon receiving the actual grant from the company? If so, this is a great time to encourage donors to ask their spouse if his or her company offers a matching gift program. Just reminding them that the donation could go even further increases the likelihood the donation will be matched by a second employer. Once a donor has gone through the process a single time, they realize how straightforward it is for them to submit the matching gift request. Appeal to them to also find out if their spouse’s employer offers a similar program so the donation can be tripled!

If you subscribe to Double the Donation’s service, make sure to direct donors and members to your organization’s matching gift and volunteer grant website so they can instantly determine their eligibility and submit the appropriate form.

Readers: Have questions about corporate employee giving programs? If so, email us at info@doublethedonation.com.