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In an unstable economy, nonessential spending tends to be one of the first expenses businesses cut. While this move to temporarily reduce costs does have its benefits, it may lead to a decrease in the amount of donations nonprofits receive, drastically impacting how these organizations operate and serve their communities.
As experts, the members of Forbes Nonprofit Council are familiar with the various forms of aid businesses can offer nonprofits. Below, 13 of them each share one way businesses can continue to support nonprofits in a tight economy, even if they have to pull back on the amount of their monetary donations.
1. Provide Professional Development Opportunities
Sustaining community engagement during difficult times is a great way to demonstrate that your business stands with local organizations. This can pay dividends in maintaining a business’s reputation and goodwill. Businesses can preserve close relationships with the organizations they support by offering internships, practicums, career services and professional associations, which can all be as beneficial as writing a check. - Michael Horowitz, TCS Education System
2. Create Evergreen Support
The constraint isn't financial. According to Giving USA, corporate giving has declined to less than 1% of corporate pretax profits with inflation. Businesses can consider offering evergreen opportunities to help provide financial, in-kind and other support regardless of the economy. Engage your C-suite, use advisory or affinity groups to engage rising stars and offer volunteer days for the general workforce. - Laura MacDonald, Benefactor Group
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3. Make Yourself Available
Exemplify your values by taking part in days or weeks of community service at nonprofits. Have team members volunteer. If your company offers consulting expertise, consider advising a social justice-oriented group or organization that embodies your aspirational ideals pro bono for a time. Simply make yourself available as a sounding board when needed. As they say, be the change. - Jose Luis Castro, Vital Strategies
4. Offer In-Kind Services
Businesses can support nonprofits by offering a mix of financial donations and in-kind services. The in-kind services might be pro bono accounting, marketing or legal services. If the nonprofit can substitute a donated service or product for something that they are currently paying for, then that's a win for both the business and the organization. - Kimberly Lewis, Goodwill Industries of East Texas, Inc.
5. Be A Connector
Businesses can serve as connectors. Rather than one monetary donation, connect a nonprofit to members of your board who share in the mission, to other business leaders in your network and with complementary nonprofits you support. Expanding a nonprofit’s network of allies, supporters and champions can be far more valuable than the one check. - Patrick Riccards, Driving Force Institute
6. Remember Time, Talent And Treasure
Remember the three T's of impact: time, talent and treasure. There are creative ways to leverage business partnerships that can go much farther than direct monetary contributions. Corporate partners can identify ways to donate their time to enhance a process or promotion, source volunteers or subject matter experts to support an initiative or program or build a co-marketed cause campaign. - Nick Lynch, Collidescope IO, Inc.
7. Leverage Marketing Budgets For Partnerships
Nonprofits are often encouraged to not spend money on marketing, but how are we supposed to grow if we don't advertise? One way businesses can support nonprofits is by using their current marketing budgets to advertise about our partnership. This will benefit the business's brand and employee morale while also helping to raise awareness for the nonprofit. It's a win for all. - Caroline Boudreaux, Miracle Foundation
8. Share Available Facilities
In a word: facilities. Businesses today have lots of available space. Gift it to a nonprofit for events and maybe even office space. This could allow the nonprofit to end their contract or sublet their current space, creating a double benefit. - David Wills, National Christian Foundation
9. Facilitate Potential Partner Introductions
Businesses can introduce nonprofits to a new corporate partner or sponsor. Let's face it, corporate giving significantly affects nonprofits' ability to carry out their programs. Therefore, while businesses try to maintain their financial agility in post-pandemic times, introducing a new corporate partner or sponsor will significantly improve nonprofits' ability to maintain their financial agility. - Dr. Lilian Ajayi-Ore, Global Connections for Women Foundation
10. Publicly Share Support And Words Of Encouragement
Words of encouragement and support are free. While financial support and gifts of physical assets are important to provide the fuel to help nonprofits fund their mission, words of encouragement and public validation of the nonprofit's efforts and mission could attract new supporters to the cause. Be willing to share why your business supports the nonprofit as others may follow your lead. - Aaron Alejandro, Texas FFA Foundation
11. Invite Employees To Donate
Employees feel a sense of purpose when they are given the chance to learn about and support needs in their communities. Employees can select a worthy cause. Companies can then involve employees in the donation by matching optional donations from their employees and expressing how great it is to have so many staff members who care about their community. This builds morale in the workplace while also supporting the community. - Christina Potts, LISTEN
12. Increase Visibility For Nonprofits
For-profit businesses typically have much larger communications platforms and audiences than the nonprofits they support. By elevating partnership messaging, highlighting the importance of the nonprofit mission and engaging their customers and employees in the cause through their multiple channels, businesses can continue to be significant partners in a challenging economy. - Rita Soronen, Dave Thomas Foundation for Adoption
13. Help Nonprofits Level Up
Leverage your business' deep expertise in brand strategy, strategic planning or even data analysis. Partnering with a nonprofit to build out their visual look, improve messaging and strengthen their storytelling can help them attract new support and reach new donors. Building a clear vision, a detailed roadmap and data driven decision-making processes will help a nonprofit better focus limited resources. - Tina Admans, Minds Matter Southern California
