Building successful partnerships between nonprofits and corporations

In the last few years, especially since the start of the pandemic, we have all seen a drastic growth in social impact projects and purpose driven leadership. Now, people from all walks of life are joining together to create real, systemic change within their communities. The burden of change has now been lifted from solely nonprofit organizations and has shifted to everyone, including corporations.

Recently, the concept of businesses contributing to social and economic issues is increasingly becoming the standard. Consumers love to see their favorite brands care about the same issue they do, whether it’s sustainability, discrimination, homelessness, etc.

But it becomes more than a corporation just stating that they are in support of an issue. Consumers have become very good at filtering whether a company is genuine or not. In this day and age, it is simply not enough to be silent, because a corporation’s consumer base will move on to the next company whose values align with theirs.

As a result, corporations across the board increased their corporate sharing programs and began collaborating with communities and charitable organizations alike. In fact, according to a recent survey conducted by the Conference Board, utilizing philanthropic efforts to accomplish corporate objectives is a key priority for almost two out of every three large North American companies. More significantly, nonprofit-corporate collaboration can result in genuine social impact.

What are corporate sharing partnerships?

To preface, corporate sharing partnerships are reciprocally beneficial partnerships developed by a nonprofit or philanthropic organization and corporations with the intention of pursuing a common objective based on the shared values of the organizations involved. Companies are seeking out non-profit organizations to link up with so that they can better each other and better their communities

What are the corporate sharing partnership benefits for nonprofits?

When a non-profit organization conjoins with a corporation, the benefits that the charitable organization sees are plentiful. Nonprofits can benefit from the resources provided by for-profit corporations.

One of the biggest ways that corporate partnerships can help nonprofits is to generate more community visibility. Companies excel at networking. A major part of their approach includes developing trust with the customers, which may be transferred to nonprofit partners. This can help spread the word about the group, initiatives and purpose. The corporation will advertise the organization boosting the advertising and publicity efforts.

In addition to increased community visibility, corporations can also increase revenue for a non-profit organization. Many businesses may choose to sponsor one of the nonprofit´s charitable events or causes. Businesses will contribute to the cause in exchange for advertising on event flyers and the organization’s website. As a result, these contributions are critical to the long-term viability and expansion of initiatives and the organization’s ability to reach as many communities as possible.

What are the corporate sharing partnership benefits for corporations?

Like the benefits that nonprofit organizations see from corporate partnerships, companies also get a lot of benefits from teaming up with nonprofits. One of the biggest benefits that companies can get from corporate partnerships is the public image. In today’s society, consumers are particularly picky about the things they buy. The more socially conscious a company is, the more loyal their consumer base will be, and, in turn, will increase your revenue.

Another benefit that corporations can see from working with non-profit organizations is marketing. Corporate support for nonprofit organizations can provide low-cost marketing options. It’s an opportunity for companies to improve their reputation and trust, with members of their communities. When done correctly, it may result in a great profitability.

In brief, the benefits of corporations and nonprofit organizations teaming up together, definitely outweigh any of the negatives. If you are a corporation or nonprofit organization looking to increase benefits on both sides while also impacting your community, this would be a great solution!

 

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