As the national and even our state economy continues to tighten, people are apprehensive about spending and even more so about giving. It is during times like this that challenge grants become increasingly valuable to the non-profit sector. When a foundation awards a challenge grant or a generous donor makes a challenge donation to an organization, they are creating an incentive for other potential donors to give. If there is nothing else that has come out of the economic downturn, people are now looking for value. We all want to make sure we are getting the most for our dollar these days. What better way to do that than for your dollar to really be turned into two dollars.
OK Policy is thankful to the Kerr Foundation for awarding us a challenge grant. The foundation will match the first $500 of individuals’ donations to OK Policy, dollar for dollar. Challenge grants can work in many different ways. Sometimes they will match 50 percent of a donation, or pledge an amount of money for every volunteer hour worked for the organization. There is really no limit to the creativity that can be used when designing a good challenge gift. Boone Pickens is reported to have made very sizable gifts to two business schools in Texas with the challenge that each school had to double the gift within a specified amount of time or the entire gift and the additional money generated by the two schools from the gifts would all go to OSU. Now that is a challenge.
If you are interested in helping OK Policy meet our challenge from the Kerr Foundation, please click here. All donations are tax deductible.