5 Companies Leading the Matching Gifts Programs
Matching gift programs are one of the most effective ways to engage employees in corporate philanthropy. In fact, according to the Giving in Numbers 2015 report, 88% of companies offer at least one Matching Gift program and 71% offer at least two. What makes gift matching so appealing? It directly involves employees in corporate philanthropy and for causes of their choosing no less.
We wanted to know how some of today’s biggest companies are leading the pack with stellar Matching Gift programs. Here are five successful Matching Gift programs your company can look up to.
Of course the corporation that pioneered Corporate Matching Gift programs is at the top of our list! GE implemented the very first Corporate Matching Gift program in 1954. The company matches any employee donation as well as their retirees’ donations 1 to 1 and will match up to $25,000 per employee. GE has matched gifts totaling over $43.5 million in 2015. To date, the company’s Matching Gift programs alone have raised $1.25 billion!
The world’s leading producer of computer software has been matching employee gifts since 1983. Matching employee gifts 1 to 1 and up to $15,000 per employee, the company has donated over $9 billion since 1983 and in 2015 alone, Microsoft employees donated $125 million. Microsoft’s annual Employee Giving Campaign gets employees engaged in corporate philanthropy with over 200 activities such as a 5K run and an online auction.
Johnson & Johnson
With one of the highest participation rates for Matching Gift programs in the consumer goods industry, Johnson & Johnson made the list. The company matches employee donations 2:1 for up to $20,000 for current employees and 1 to 1 for up to $10,000 for retirees.
This energy giant is known for having one of the highest matching gift rates today. ExxonMobil matched employee gifts 3 to 1 for a maximum match of $22,500 per employee. In 2014, the company contributed $34.4 million to organizations and nonprofits through matching gifts. Over 9,000 ExxonMobil employees volunteered nearly 500,000 hours to their philanthropic causes.
State Street Corporation
State Street Corporation, one of the oldest financial institutions in the U.S., matches employee gifts 1 to 1 up to $35,000 per employee and offers a variety of matching gift programs to their team. State Street’s DoMore program matches charitable volunteer efforts with grants. The GiveMore program matches employee contributions to educational institutions or charities. The CollectMore program matches employees’ pledges for fundraising events such as charitable walks, runs, and bike rides sponsored by nonprofits.
Soros Fund Management
This investment management firm leads the pack with a matching gift ratio of 3 to 1 up to $100,000 per employee, maxing out at $300,000. The company also matches partner donations 2 to 1. To add to their generous giving, Soros also provides grants to nonprofits where their employees volunteer, anywhere between $1,000 and $4,000 depending on how many volunteer hours.
These companies serve as shining examples of Matching Gift programs done right. Their contributions not only engage their employees in their work, but connect them to causes that are meaningful to them. Matching Gift programs will no doubt continue to grow as one of the most effective ways to engage employees. How is your company engaging employees in Matching Gift programs?