Many companies have matching programs in which they match an employees donation. Most companies will match the donation dollar for dollar and some companies will match as much as three times the amount. You will want to be sure to inquire with your donors to see if they work at a company that has a matching program.
Matching gifts are a great way to help you raise even more money. Depending on the company the matching money will be paid out quarterly, bi-annually or annually. Because of this we highly encourage you to start your fundraising early so the money from the match comes in before Check In Day.
How to Request a Match
Requesting a match can be a fairly simple process. Have your donor contact their Human Resources Department and inquire about the companies matching policy on charitable contributions. Most companies HR departments will be able to give instructions to the employee on how to proceed.
Your donor will need a copy of their donation receipt, the email they get from the system after making a donation is their receipt. They will be given an application to fill out and turn back in for submission. If you or the donor needs assistance filling out this application please contact the Ride office.
Once the paperwork is submitted it is up to the company to approve the match. There are limitations to the match process, which vary from company to company. Nearly all have a minimum amount for a donation to be matched and all companies have a cap - a maximum match amount per employee. The employee is free to donate as much as he or she would like, but the company will only match up to a certain amount.
Because there is no way for the Red Ribbon Ride to know whether restrictions will result in a denial of a match, matching gifts are not applied to the participant's fundraising account until the funds are received.
How to Credit a Match to a Specific Participant
Most applications have a section labeled "Purpose" or "Designation". Please have your donor include the Participant's name, number and event in this field.
Tracking a Matching Gift
In order to research a pending match the Ride office will need donor/employee name, amount of the donation, the company name as well as the Event/Participant number.
Participant's Fundraising Total
Matching gifts do not appear in a Participant's fundraising total until the funds are received and allocated. Remember, depending on the company the matching money will be paid out quarterly, bi-annually or annually.
Your matching gifts need to arrive by Check In to count towards your fundraising minimum. If you are relying on this money to hit your minimum and you know the matching money will not arrive until after the Ride please contact the Ride office to discuss options.
Many participants and teams host fundraising events at restaurants that will donate a portion of the meal total to the participant's fundraising. Often times these restaurants will send the check in weeks after the event and make no mention of which Participant the funds should be directed to. If you are planning such an event please request that the restaurant put your name and number in the memo of the check. Then follow up with the Ride office and let them know the check is coming.