Despite their extreme differences, nonprofits and for-profits are not mutually exclusive. In fact, the two go hand-in-hand in more ways than you probably realize. Partnerships with for-profit organizations create benefits for both the company and the nonprofit.
- Generates revenue and visibility: Many times, organizations will sponsor a charity event hosted by a nonprofit. This creates visibility for the for-profit company, and that visibility often results in increased revenue when constituents see that they are involved in the community. It also brings in more donations to the nonprofit hosting the event and enhances their visibility, as well.
- Increases volunteers: A corporate partnership is a surefire way to bring in volunteers. Oftentimes, organizations will host a volunteer service day, and employees who volunteer are more likely to come back on their own time and volunteer again in the future.
- Enhances employee satisfaction: Employees want to know that the company they work for is gives back to the community. In fact, it’s a priority for many jobseekers. Employees are more likely to stay at an organization that is involved in charitable activities, while also feeling proud of the organization they work for.
- Allows for nonprofits to take on bigger projects: According to Forbes, a corporate partnership allows nonprofits to take on larger projects that “They might not have been able to do… prior due to lack of resources and infrastructure.”
Nonprofits, for-profits are your friends! A corporate partnership is a mutually beneficial relationship that can allow you to enhance visibility, increase donations and volunteers, and develop the resources to tackle some of your larger goals.