Part 12 from the Win-Win for the Greater Good series
As we discussed in the last blog, nonprofits can receive 31 distinct benefits by working in partnership with for-profit organizations, and the number keeps growing. And for-profit organizations can receive 38 distinct benefits in such cross-sector partnerships. Now that’s a heck of a lot of benefits, and far more than most people would ever imagine.
Let me list just the top 10 benefits here and the complete listing of all 69 benefits can be found in the free Resource Center at www.bruceburtch.com.
Top 10 benefits for-profit organizations receive from partnership with nonprofit organizations
Note: These are not in any particular order, other than increasing sales, which is nearly always noted as number one.
1) Increase sales of products or services
2) Increase employee engagement, job satisfaction and reduce turnover
3) Increase customer and brand loyalty
4) Attract the best employees through community involvement
5) Increase community goodwill by having your leadership and organization recognized for the good they create in society
6) Increase shareholder return
7) Reach new markets and new customer demographics
8) Increase employee skill development, teambuilding and leadership skills
9) Draw media attention and coverage for free
10) Attract new business partners and relationships
Nonprofits are right behind with the potential to have at least the 31 benefits – those we have discovered so far. Here are the top 10 benefits nonprofits can receive.
Top 10 Benefits Nonprofits Receive From Partnering With a For-Profit Organization
1) Increase funding
2) Connect to new business partners and strategic relationships
3) Receive pro bono services
4) Attract loaned executives
5) Attract in-kind donations (equipment, furniture, computers, software, etc.)
6) Provide professional development for employees
7) Attract new volunteers
8) Provide volunteer management
9) Increase media coverage and improve media relationships
10) Develop earned income opportunities
By The Way: Which Provides More Value: Money or Brains?
When considering a cross-sector partnership, not surprisingly, the first topic that seems to arise is money. How much should the nonprofit ask for or how much should the for-profit consider donating? While money usually enters the conversation at some point in a partnership discussion, it’s short-sighted to think that money is the only or even the best value to receive in a partnership. Quite simply: If you focus on money you may leave a lot of money/value/assets on the table, never to be seen again.
Karen Baker, California Secretary of Service and Volunteering, offers: “A million dollar value of brainpower is so much more helpful than a million dollars. I can find money. I look for talent and I mean top-shelf talent, which you can shop for when you’re shopping for public/private partnerships.”
This belief is echoed by Dannielle Campos, Senior Vice President and National Philanthropy Program Manager for the Bank of America Charitable Foundation. Dannielle said, “When working with a nonprofit it can’t be just about the dollars but also about the other human resource capital you can bring if that company is interested in making, really building a strategic partnership with a nonprofit in their community. The dialogue has to be bigger than the check and the nonprofits usually need more than just money.”
Here is the underlying secret to success of cross-sector partnerships: first seek brains…and the money will follow.
Please visit www.bruceburtch.com for more information and to view Win-Win for the Greater Good.