Fiscal Sponsorship: What Is It? How Does It Support Collaborations?
July 15th, 2021
9:00 a.m. (CST)
We Are Live In
About the event
A widely-watched BUILD Institute video, which describes the promise of early childhood community systems building, asks the question: "What would happen if we all worked together on behalf of kids? Everyone!" But, as many collaborations know, workings together as one and achieving results is easier said than done. And, governance is often the missing ingredient.
Are you hoping to seek grant funds and donations to support the work of your collaboration? Are you wondering about how to manage the finances of your collaboration? Do you have a fiscal sponsor but do not have a written fiscal sponsor agreement? This workshop is for you!
Many collaborations utilize fiscal sponsors to achieve these aims. Do you have questions about fiscal sponsor relationships and how they work? What kinds of agencies serve as fiscal sponsors? What should be included in a fiscal sponsorship agreement?
Rebecca Wallenfelsz and Paul Carman, Partners at Chapman and Cutler, LLP will be sharing their knowledge and insights about this important strategy used by collaborations without 501 (c) 3 (nonprofit) status to get access to a wider network of funders, receive tax-deductible donations and grants, and receive technical and administrative support.
Note: Fiscal sponsorships can be temporary or last indefinitely. Some collaborations utilize fiscal sponsorship as a way to initiate fundraising through grants and donations and to ensure proper financial management while they work toward obtaining 501(c) 3 status as a separate, nonprofit entity.