Should your not-for-profit provide fiscal sponsorship to a smaller charitable project that lacks 501(c)(3) status? These arrangements can benefit not only the project itself but also the established organization sponsoring it. The project gets infrastructure, fiscal management and the ability to accept tax-deductible donations. Sponsors can gain exposure to new donors and a small fee to offset overhead costs. Making sure both parties agree on roles, responsibilities and decision-making processes will promote a mutually beneficial arrangement. To help prevent a fiscal sponsorship from damaging your finances or reputation, contact us.
