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. As New York City is the most populated metropolitan area in the country, we decided to highlight this city first.
Like most major markets, New York is home to many large employers, many of whom offer matching gift programs. With so many 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?
We’re going to look at the matching gift programs of the following companies:
- JPMorgan Chase
- Phillip Morris
Follow along for a look at New York City’s corporate philanthropy and the tools you can use to discover these opportunities.
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 probably 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.
Discovering Matching Gift Opportunities in Metropolitan Areas
The fact that New York has major matching gift opportunities means little if nonprofits don’t capitalize on them. If you’re like most organizations, you probably aren’t reaching your full corporate philanthropy potential.
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, however, consider providing donors and volunteers with detailed information about their employer or their spouse’s employer.
360MatchPro, a marketing automation platform suited for nonprofits looking to improve their existing matching gift processes, can help. With this software, your organization can automatically identify and contact eligible donors regarding matching gifts.
With that, continue reading for a look at New York City’s top 5 companies with matching gift programs.
Companies in New York with Matching Gift Programs
Of the top companies in New York City, those highlighted offer matching gift or volunteer grant programs. It would be difficult to go into detail regarding every company in New York offering matching gift programs, so we’ve highlighted some of the area’s largest employers for this list.
Based on the current Fortune 500 list, JPMorgan Chase and Verizon are the two biggest companies in New York City. Both offer matching gift programs. Further, we’ve included AIG, IBM and Phillip Morris, each of which is a large employer in the city offering matching gift programs.
Verizon 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.
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.
IBM also offers multiple types of employee giving programs. Not only does the company offer matching grants on donations and cash grants for volunteering, but it also 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. This means that if an IBM employee donates $500 to your organization, you can receive $1,000 in IBM equipment or $500 in cash.
American International Group (AIG)
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 $10,000 per employee per year.
Altria 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:
- Hunger and extreme poverty
- Rural living conditions
- Domestic violence
- Disaster relief
Altria 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.
Other NY based Fortune 500 companies with employee matching gift and volunteer grant programs include:
Bottom line: Many of New York’s leading employers match donations employees make to nonprofits. Make sure everyone in your organization’s membership and development offices are familiar with major employers in your area that match employee donations.