Hailey Cavill-Jaspers reveals an important distinction that will stimulate and accelerate fruitful discussions with corporates, companies, and brands
First published August, 2021
In over two decades of matchmaking companies with causes, I’ve seen one frequent error that nonprofits make which prevents them from successfully securing corporate partners. Here’s the problem: they view a corporate (that includes a company or brand) as a donor with just one purse (budget), when in fact, there are four purses. Also, nonprofits often see the purse as holding just money when there’s usually many more valuable resources that you can access. These include promotion to millions of customers, campaigning, product (gifts in kind, or GIK), specialist skills and services, contacts, and creative agencies — all of which could be potentially transformative for your nonprofit.
Just like the government has numerous departments and therefore many budgets, or an individual might donate from different purses (their will, salary, or family trust) so do corporates. So it’s essential to know which purse you’re targeting (or, if you’re fortunate enough to have corporates approach you, which purse they represent) because the…