From the smallest amounts to the major corporate grants programs, grantmaking is shaping the wolrld for the better every day. As 2021 is coming to an end, take a look at 10 key grant statistics to remember for this year.
There are currently 87,502 foundations registered in the US. Most of them are independent foundations (92%), with only 3% of corporate foundations and 1% community organizations.
The top 10 corporations donate more than 2 billion $ in cash each year to non-profits.
Walmart leads the effort, with $311.6 million in cash donations.
In the US, corporations gave a total of 21 billion $ to non-profits last year. $405 million has been given in contributions related to disaster relief.
The majority of these corporate grants go through employee matching gifts programs. The median employee participation rate for these matching gift programs was 9%.
Beyond the social impact, corporate giving has been widely accepted as a brand awareness strategic element. 90% of companies partnering with nonprofit organizations enhances their brand and 89% believe these partnerships enable them to improve the community.
In 2017, corporate grants went up to 8% compared to 2016. This corporate grants trend is constantly evolving and increasing.
This boost has been made possible by employee matching gifts program. Mentioning matching gifts in fundraising appeals has resulted in a 71% increase in the response rate and a 51% increase in the average donation amount.
From the point of view of employees, the trend has been the same: 84% of employees are more likely to donate if a match was offered.
Technology companies have offered the highest proportion of matching-gift contributions (17% of total cash gifts).
As the number of causes constantly grows, the trend in corporate grants is reverse. 73% of companies prefer to build their grantmaking on deeper partnerships with a smaller number.
The majority of corporate giving focus on 3 destinations: 29% to education, 25% to health and social services and 15% to community and economic development initiatives.
40% of the Fortune 500 companies do have a volunteer grant programs. By allowing their employees to stand for causes, they have a higher employee retention rate. In average, employees who engaged in corporate giving programs tend to have 75% longer careers within the company.
An average of 30% employees volunteer for causes. Those who volunteer report they feel better emotionally, physically and mentally.
This trend has a more positive touch on Millennials: 88% of them find their job more fulfilling when they can make a positive impact on society and the environment while working at the same time.
When surveyed about volunteering practices, 92% of corporate human resources executives agree that contributing business skills and expertise to nonprofits is an effective way to improve employees’ broader professional skills and initiatives.
In addition to this large support, 77% of HR executives believe that offering volunteering opportunities is an important recruitment strategy to attract Millennials.
Beyond the positive impact created by corporate giving, most corporations experience a positive side effect of running social impact programs. In average, purpose-driven companies achieved an annual 9.85% growth rate over the last 5 years, compared to 2.4% for the whole S&P 500.
Optimy is a social impact technology, designed to help corporates generate the best results through their corporate grants program. By keeping things simple and flexible, we help corporates focus on their impact strategy, while taking care of the operations.
Curious to know how? Request your free demo here.