Through partnerships with nonprofits, many for-profit businesses are seeing positive results
Did you know that Hanes partners with The Salvation Army to cloth the homeless with socks, the number 1 requested article of clothing for the homeless? How about Jack Link’s, who partnered with Team Rubicon to build public awareness for disaster relief? Lastly, what about Abercrombie & Fitch, which has partnered with The Trevor Project since 2010 to raise over $1 million and design gender-neutral clothes in support of the LGBTQ community.
These are prime examples of how nonprofits can leverage their for-profit counterparts to further their mission. The benefits can be quantified in 3 ways:
- Raising additional funds
- Building awareness of your cause
- Increasing public response through donations and volunteering
But these partnerships are not a one-way street. They are mutually beneficial to both the nonprofits and the for-profit businesses:
- Employee morale, engagement, & retention
- Marketing and brand recognition
- Public image and improved consumer confidence
How can you implement a corporate-nonprofit partnership?
With many organizations fighting to keep up with the increases in funding needed to continue operations, it’s easy to forget that corporations have a vested interest in helping you out. Next time you reach out to pitch a partnership with a for-profit business, remind them of the benefits and offer options to partner in innovative ways.
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