Wondering how you can avoid all the paperwork and filing fees for becoming a 501c3 nonprofit organization, but still be able to apply for grants and offer donors a tax deduction? Fiscal Sponsorship is the solution for your project or new nonprofit. It’s simple. As a project or program of an existing 501c3, you can operate your organization, further your mission and help people! You can even fundraise to cover the start up fees to eventually become a fully operational independent organization. You need only partner with an existing 501c3 organization who is willing to sponsor your organization. The purpose of the 501c3 must be able to encompass the work that your organization intends to do. Our services include determining that the purposes are legally similar enough to enter into this kind of relationship.
Fiscal Sponsorship is a great way for the existing 501c3 organization to help incubate projects that will further the mission and purpose of your organization. This looks good for you as an organization and is great for leveraging funds. These kinds of partnerships benefit everyone involved.
Our firm strongly recommends that organizations entering into a fiscal sponsorship relationship have a written agreement to ensure that the parameters of the relationship are clear and agreed upon by both parties.
Our firm’s Fiscal Sponsorship package includes:
- Review statements of purpose and program activities to ensure that the sponsoring organization can work with the sponsored organization
- Answer any questions and advise on any issues that may arise in fiscal sponsorship, including the legalities of formation of the sponsored organization, instructions on bank accounts, etc.
- Determination of what kind of fiscal sponsorship arrangement is most appropriate under the law for your unique organizations
- Preparation of a written Fiscal Sponsorship Agreement to be signed by both parties
- Maintenance of signed copy of agreements on record in office
Your Next Step toward being Fiscally Sponsored