CSR is an underrated, but essential part of the business for many organizations. At the same time, NGOs need to rely on funding sources from these corporate donors to help them implement their interventions. With the right plan, one can maximize your investment from the corporate companies and improve your CSR funding.
In the following article, we will have a brief look at a couple of these methods and you might be able to implement some of them to improve your funding sources. They might not all apply to your situation immediately, but the knowledge can be kept and you can use it once it does apply to you. Here are a few of the top methods to get CSR funding or corporate funding for your NGO:
Get a Middleman
If you are not yet connected with some of the larger organizations, it can be easy to approach an intermediary that will help you get the funding. While there might be a small fee attached, having an intermediary who is already connected to the corporates, can make your job much easier. There are many companies and establishments that help NGOs get funding for their projects from corporate donors.
Check out more information about Artemis Outcome-Based Funding for NGOs.
Have A Set Plan
Before approaching anyone with your CSR proposal, it is best to do some introspection. This can be in the form of self-evaluation and perhaps even market research. The more information you have to present to the donor, the more likely they will be to agree. Additionally, it is easier to make adjustments when the donor makes some proposals and you will look in control.
Use Proven Science To Persuade
No one likes taking a risk to invest in projects that might not work out. You will need to do some diligent research to see if your approach will work. It is better to give your donors a full document with all the facts for them to analyze. Keep in mind that donors simply want to say yes or no and they don’t have the time to do the market research for you.
Approach Numerous Sources
Instead of putting all of your eggs in one basket, you might want to consider a broad-based approach. If you have large organizations in the immediate environment, you could potentially approach them all with the hope of receiving funds from at least one. In many cases you might get support from many organizations, giving you a massive funding boost.
Report Existing Program Results
Instead of starting new programs, you might have a few that are currently viable for your NGO. In this case, you can use the data from the evaluation process to prove your success. Now, you can develop a plan to expand the current programs and perhaps receive even more funding. There is no set limit on how big a project can be. That’s a big benefit of investing in impact measurement or M&E process. If you are not sure how to do impact measurement, we have many resources available for you to check out.
If local does not work for you, you might be able to get some international support for your projects. Everyone might not feel the same about the specific project that you are planning. However, you will eventually find someone fighting for the same cause as you, which could boost your projects.
It is important to understand that you will not always find funding with the first go and you might need to retry your approach to various organizations. Instead of giving up once you have failed, you want to be persistent until you have a few donors.
Show Appreciation To Donors
If you have a few donors, you might want to show some level of appreciation to them once you have the backing. You can perhaps host a few events and make them the main attraction. This will not only bring them more publicity but could also improve their financial situation. Once they become financially stronger, you can get more funds from the same donors.
Here is another interesting article: The Nonprofit’s Guide To Asking For Donations
CSR is an important aspect for you and for the organizations that you want to support your cause. Combining with these donors can help improve their public stance, while also helping you grow CSR projects. You can use some of these tips and approaches to help you find the best donors and maximize your donations.