Giving back is on the rise. Last year, Americans and U.S. businesses donated a record high of more than $471 billion dollars to charitable organizations, according to the Giving USA report. And that was during a pandemic.
It probably has something to do with the fact that 77% of Americans believe charity can make a difference. No doubt companies feel that way, too, but it can be hard to work philanthropy into a tight budget.
“Our company is passionate about philanthropy—but we know not all organizations have the resources for this,” says Monica Infante, founder of Babies & Bumps, a leading empowerment organization for new and soon-to-be parents. Her small business, which produces virtual and in-person events nationwide, has donated tens of thousands of dollars to local nonprofits and agencies across the country. “When you need to reinvest every penny of your profit back into your business, philanthropy can be challenging,” says Infante. “But it’s not impossible.”
The solution is creativity. Infante’s organization has developed a unique approach to philanthropy that goes beyond money but definitely makes an impact. Follow her advice for business owners who want to make a difference even when they don’t have a lot of dollars.
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1. Get Fluent In Philanthropic Love Languages
Words of affirmation can do financial wonders for an organization. Use your platform to amplify the voice of a lesser-known agency and help them bring in money. “It may not seem like a lot but it can have an incredible, long-lasting and deep impact, as well,” says Infante. “At events, when we talk about organizations that address perinatal mood disorders, like P.O.E.M. in Columbus, it makes it easier for people to seek help if they need it.” You can mention the good work done by an organization or the needs of smaller businesses in your newsletters, on your social media platforms, at live events and when talking to press.
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Giving gifts is the most obvious philanthropic love language, but those gifts don’t have to come from you. Infante’s team realized that local diaper banks were often running low on disposable diapers, cloth diapers, creams and wipes. So at events they host, Babies & Bumps asks attendees to bring these items with them and then passes them on to local diaper banks in need. What could you galvanize your followers to donate to a good cause on your birthday, on your organization’s anniversary, at a live event or at the end of the year? 10% of annual giving happens in the last three days of the year.
Acts of service can involve physically sharing the spotlight with partners that could use some promotion. Babies & Bumps uplifts organizations by featuring their experts in seminars, panel discussions, interviews, and more at events. You might do the same at a live event, mastermind retreat or training session and boost donations to an organization. Finally, quality time, as you might guess, is perfect if you and your team have time to devote to volunteering.
2. Explore A Sliding Scale
Consider where you could offer a sliding scale or scholarship in your business—without it breaking the bank. You might give a deep discount to a nonprofit organization that could benefit from your online course or a free coaching session to an executive at a philanthropic organization.
“My audience of new and soon-to-be parents is steadily turning over and we’re constantly trying to find more new moms and dads to talk to,” says Infante. “By offering a sliding scale exhibitor fee to certain nonprofits and small agencies who want to participate in our events, we make our event experience far more rich, diverse and valuable. They’re able to get in front of more potential customers and we’re able to attract a broader audience.”
3. Become A Matchmaker
When you build strong relationships with your customers and the businesses you partner with, you learn exactly what they need. That knowledge means you’ll be able to be a super-connector when you encounter a solution to their problem.
“Last year, when department stores across the country were closing, one of our partners turned to us to help them re-home five thousand dollars worth of car seats,” says Infante. “We were immediately able to match the donations with organizations and crisis nurseries across the country.”
You have to do the work to understand everyone your business touches. Infante suggests asking what the communities you serve are lacking, how the businesses you work with want to help and what the vendors and contacts you encounter are passionate about. “Ideally this matchmaking process happens organically, but you can also send emails to your partners letting them know you’re open to philanthropic partnerships,” says Infante.
4. Hold A Raffle To Raise Funds
“At every event, Babies & Bumps selects a local nonprofit to highlight and support,” says Infante. “Then we partner with brands and local businesses to donate products or services for what’s become a legendary raffle. When attendees learn about the work of a critical local organization, know that 100% of raffle ticket sales will benefit that nonprofit, and see prizes they can win, they eagerly support it.”
You can raffle off exclusive services (like a one-on-one coaching session, VIP day or website makeover) in the name of an organization you believe in. Even if you’re a business of one, you can have an exponential impact by thinking outside the philanthropic box.
