How to Build Successful Partnerships with Corporates

The findings in our recent Giving Ireland 2022 Report shows that the nonprofit sector experienced a 17% decline in fundraised income in 2020. Sectors such as Arts & Culture, Sport & Recreation, Health and others, experienced the most substantial decreases. In recent years, charitable organisations are seeking new ways to create long-term value to endure any future storms. Similarly, many corporates are seeing a shift in consumer behaviour. It is no longer acceptable to ‘social wash’ and private companies are under increased pressure to create social impact.

Therefore, by partnering corporates and charitable organisations, they can work together to create sustainable partnerships that work for both parties.

Here are 3 key approaches to building successful corporate partnerships for charitable organisations.

 

1. Purpose-led

Although many corporates provide charities with monetary investment, it is essential to recognise that corporate giving has changed in recent years. A transactional based relationship does not provide long-term value to charities, or corporates. These transactional, outdated corporate fundraising models are no longer fit for purpose. It is essential to ensure your charitable organisation’s approach to corporate partnerships is purpose-led and considers how businesses can help them deliver their mission. 

Building a partnership based on a shared mission or purpose allows your partnerships to grow and flourish over time. This will steer your partnerships from having a short-term focus on financial incentives, to a long-term vision that delivers value for your charitable organisation, the corporate and society.

 

2. Outline your value

Recognise the value your charity can bring to a partnership and present your potential corporate partner with an inspiring offer, rather than an ask. Most charities have an extensive social reach within local communities and have a unique advantage in supporting businesses achieve their social impact goals. It is important to do an analysis of your charity’s current value and potential future value. Presenting the value your organisation can bring to a corporate partnership is key to building a balanced relationship, where both parties are benefitting equally.

 

3. Long-term focus

Corporate fundraising is often driven by short-term financial targets. However, it is important to give your partnership the time time to build a stong relationship. Strategic and transformational partnerships take time to cultivate, often up to 18 months. Whilst it is important to increase funds for your charitable organisation, do consider investing time into building stronger, sustainable partnerships. In the long-term, this will achieve the best results for both organisations.

 

2into3 Partnerships Practice

At 2into3 we provide insight and expertise to support both corporates and charities to build strong purpose-led partnerships that can be a force for good, achieving the scale and sustained impact we need to see. If you are a charity or nonprofit organisation seeking more information on our partnerships process, visit here or contact our Head of Partnership Advisory Practice, Denise Cranston on +44 28 9592 2389 or +353 86 085 5836.