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 Programs
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 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 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.
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 $5,000 per employee per year.
Philip Morris (Altria Group)
Philip 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:
- Hunger and extreme poverty
- Rural living conditions
- Domestic violence
- 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.
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.