Charitable Corporate Sponsorship: What, Why, and How?
For-profit corporations exist, unsurprisingly, to generate profit. But these organisations do have some ethical responsibilities too, which different companies view with varying degrees of importance.
Of course, making charitable choices has more benefits than just helping to do a little more good in the world. It can also improve your company’s reputation and encourage more people to turn to you, as they view your company as one which has other people’s interests at heart, and makes moral choices.
So if you are serious about doing good, and about boosting your company’s exposure and reputation in a positive way, corporate sponsorship could be a really good option.
Sponsorship differs from straightforward donations because it entails both parties receiving some sort of benefit from the agreement. For the corporate sponsor, this generally comes in the form of inclusion of the company’s name and logo on the recipient’s website and publications, at events, on clothing, and so on. In return, they provide the non-profit with funding for the charitable work it is doing.
Corporate sponsorship allows companies to build new connections, grants them low-cost, positive promotion, and sets them aside from their competitors as the ethically-minded option. You can even then deduct the money you are passing onto the non-profit when you are paying your taxes, as you can file it as a business expense. Yet you are still doing a genuinely good thing – it’s win-win!
It’s a really simple, but truly effective idea, and one which Nexbridge itself has put into action. Nexbridge offers corporate sponsorship to Wonderful.org, a not-for-profit fundraising platform which allows people to raise money for charity without taking a cut from the donations, like other big fundraising platforms do.
The sponsorship which Nexbridge offers is what allows Wonderful to operate in this way, as Nexbridge covers the cost of processing card payments, so that the full amount donated is passed onto the charity.
Could your company find a non-profit to sponsor? There are so many worthy causes out there which could put your support to great use, and help improve your company’s public perception, too! Think about causes close to your heart, or that might have overlap with your own target audience, and get in touch with them about beginning a corporate sponsorship! You definitely won’t regret it.