Becoming a Fiscally Sponsored Program
of The Community Foundation
Nurturing today’s Big ideas into tomorrow’s monumental changemakers
The Community Foundation is committed to supporting the ideas and organizations that will make a significant difference in our community. In addition to our traditional grantmaking, The Community Foundation offers fiscal sponsorships to help new organizations or special projects which lack charitable tax status.
We provide qualified organizations with fiduciary oversight, financial management, and other administrative services, as well as the benefit of its tax-exempt status to help provide smaller organizations a means of operations to continue their important work in our community.
The Community Foundation fiscally sponsors programs in furtherance of its broad charitable purposes: providing benefits to the community, supporting efforts that address emerging needs, and facilitating collaborations and partnerships. Some of our past fiscally sponsored programs include locally and nationally recognized initiatives in maternal health, gun violence prevention, higher education, and others.
What We Offer
The Community Foundation serves as the charitable umbrella and legal arm for the sponsored program. As such, it:
Accepts Tax-Deductible Gifts to the fund, provides tax receipts to donors for gifts greater than $250, notifies the program of all gifts and any restrictions named by donors.
Pays Program Expenses to Vendors from the fund, following a pre-approved program budget.
Reviews and Signs Contracts for consultants, services, event venues, etc.
Provides Financial Administration and oversight and completes all tax filings, as the program operates as a component fund of The Community Foundation.
Fiscal Sponsorship Responsibilities
Because The Community Foundation is legally responsible for the sponsored program, program organizers must remain in close contact with The Community Foundation about all plans, especially those for:
Marketing Materials, including web content such as that on a third-party fundraising platform, must be reviewed by The Community Foundation prior to use to ensure adherence to IRS regulations.
Fundraising Applications to foundations and corporations, which must be submitted by The Community Foundation along with supplemental documentation such as The Community Foundation’s 501(c)(3).
Special Events, which require early pre-approval of the event plan and an assessment of insurance needed. Some types of events are not allowed. All contracts must be signed by The Community Foundation.
Consultant Agreements, which must be reviewed by The Community Foundation before they are offered.
The fiscally sponsored program is solely responsible for hiring staff and providing payroll and benefits, meeting grant reporting requirements, and serving as grants administrator.
