Fiscal Sponsorship: 6 Ways To Do It Right
NEWS HIGHLIGHTS
LEAD STORY: Oversight and Control: Fiscal Sponsors’ Legal Obligations to Their Projects by Erin Bradrick, Principal, NEO Law Group
The following are excerpts, edited by Marjorie Beggs, from Erin Bradrick’s presentation at Covid Conversations, March 2, 2021
Oliver Hack: Welcome, Erin, to our forum. Everyone, this is not legal advice from Erin, but I’m hoping she can help us understand obligations and concepts like power, control and oversight. Erin, if you can help us draw a circle around this, how far does it go?
Erin: My goal today isn’t to scare anyone — it’s just to go through some high-level considerations of fiscal sponsors’ obligations, then open it up for questions. So, to start, for any 501(c)(3), including any fiscal sponsor engaging in any form of fiscal sponsorship, some general control considerations come into play. MORE
OTHER NEWS: FLASH! New California grants also for fiscally sponsored performing arts projects
California has a new grants program with $49.5 million for performing arts groups, and much of it is unusual: Groups with their own 501(c)(3) can apply, but so, too, can eligible, fiscally sponsored projects via their fiscal sponsors. The program has an opening date – June 29 – and it’s first come, first served. Applications will be accepted until the money runs out. MORE
Fiscal sponsorship models and how they evolved by Greg Colvin Part 2
So how many ways are there to do fiscal sponsorship right? Frankly, if we had left it to the IRS to define fiscal sponsorship, they probably would’ve come up with only one way. The alternatives we developed allow much more flexibility in the vehicles that can be used to sponsor projects. MORE
Fiscal sponsors: create or update your agency profile
Fiscalsponsordirectory.org helps connect community projects with fiscal sponsors. San Francisco Study Center created and maintains this directory based on self-reported information from the fiscal sponsors listed. Create your listing and help projects and other nonprofits find you fast. To update your profile send us an email.
Projects: Find a fiscal sponsor
Use the directory to find the fiscal sponsor that best fits for what you do. To search by state: click on the map links below.
Search fiscal sponsors by state The Directory features 354 sponsors in 42 states, three in Puerto Rico and one in Canada.
The Fiscal Sponsor Directory thanks its supporters for their generosity. “It’s an honor on behalf of Nonstop Wellness and personally to provide support to San Francisco Study Center and its Fiscal Sponsor Directory. In an era of “fake news,” targeted (and often abusive) political advertising and the deepening decay of polarized politics, Study Center stands apart — a throwback to the era when journalists were committed to the notion of a democratic society with true pillars of representation. Thank you for your team’s caring commitment and credible voice. It’s a privilege to support the Fiscal Sponsor Directory and the larger vision of your mission.” — David Sloves, CEO, Nonstop Wellness, Study Center’s Benefits Administrator
Nonprofit law leaders Adler & Colvin is deeply committed to serving the legal needs of the nonprofit sector. We bring experience and passion to our representation of tax-exempt organizations and individual philanthropists in the areas of fiscal sponsorship, charitable gift planning, grantmaking and social investing, nonprofit governance and ethics, revenue-generating activities, social enterprise, tax treatment of lobbying and political activities. LEARN MORE
Study Center sponsored its first fiscal project in 1975. We’ve been doing it right ever since. Savvy staff provide a spectrum of community services, serving as a sounding board for projects needing help getting started and a resource for those needing admin support. Our primary focus, financial management, uses a state-of-the-art system to keep you up to date and your project budget on track. Our mission is to help you succeed. Contact Executive Director Geoff Link for more information. CONTACT