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> I promise to match donations up to $100 = contract.

Hm? Where's the consideration for me? Doesn't a contract require consideration on both sides?

You have to engage in whatever fundraising efforts are necessary to obtain the first $100.

In this case, we both value progress in the philanthropic endeavor, so we make a contract: "if you generate $100 of investment in the endeavor for me, then I will invest $100 in the endeavor for you."

I am pretty confident such a contract would be legally defective and unenforceable in those terms. You raising money for yourself is not consideration that I receive, regardless of whether I think it's a good thing.

IANAL, but Promissory Estoppel might apply here?

The contract is also between the donor and other donors that give on the belief that thier donations will be matched. Because of the promise (offer) they do something they otherwise would do (consideration). And they accept by giving the money.

Reliance has been used to enforce pledges

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