Скачать или смотреть What is Fiscal Sponsorship? Explained by Kent Seton (Nonprofit Attorney) | Edward Charles Foundation

Kent Seton, a top Nonprofit Attorney in Beverly Hills, explains what is Fiscal Sponsorship?

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What is Fiscal Sponsorship?

Fiscal Sponsorship is an established relationship between two parties, whereby the existing Sponsor - an established 501(c)(3) - establishes a charitable fund for the restricted purposes of which the Sponsee would like to further. Essentially, Fiscal Sponsorship helps charitable initiatives make an impact.

Fiscal Sponsorships are recognized by the IRS as a legal relationship between the Sponsor and Sponsee. The Sponsor is a 501(c)(3) public charity and files tax returns as a public charity. All income and expenses related to the sponsored projects appear on the tax returns of the Fiscal Sponsor.

How Can Fiscal Sponsorship Help?

Starting a 501(c)(3) can be a lengthy, time-consuming process, sometimes taking up to 18 months to get approved. Fiscal Sponsors get charitable initiatives up and running in less than one week.

With a Fiscal Sponsor, the Sponsee has wider reach with charitable initiatives by being able to raise charitable funds through soliciting private foundations, digital platforms, online donations, individuals, etc.

The Fiscal Sponsee can then operate charitable programs, operate internationally, and hire employees or independent contractors, etc.

Responsibilities of the Fiscal Sponsor

The Fiscal Sponsor responsibilities include:

Fiscal and legal oversight over the funds
Ultimate responsibility from a legal standpoint to ensure that the funds are used for intended purposes

Essentially, Fiscal Sponsors have the responsibility to make sure charitable actions are being done by the Sponsee.

Additionally, per industry standards, almost all Fiscal Sponsor agreements state that all such proceeds received on behalf of a charitable fund is the income of the Sponsor.
Get Started
Are you ready to get your charitable initiative fiscally sponsored? Here’s how it works:
You explain your charitable initiative to our team. We then execute an agreement to establish the charitable fund of your choice. We open an individualized bank account for your initiative (you have 24/7 viewing access) in its name. We cut all checks wires/ACH (weekly), receive all funds and handle all reporting. You receive any year to date financial statements. We issue all charitable receipts and all 1099 forms. We handle all payroll if applicable.
Execute Your Vision with Edward Charles Foundation
Edward Charles Foundation puts impact first. Having overseen and administered the distribution of more than 35 million dollars of charitable giving, we are experts in several facets of philanthropy.
Edward Charles Foundation is an independently audited, IRS approved 501(c)(3) tax-exempt organization, classified as a public charity able to operate both fiscal sponsor funds, as well as donor-advised funds. We help educate our clients on each of the types of funds and handle all of the compliance, fiscal and fiduciary obligations associated therewith.
Let us help you see your vision through.

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About Edward Charles Foundation:

Edward Charles Foundation is an independently audited, IRS approved 501(c)(3) tax-exempt organization, classified as a public charity able to operate both fiscal sponsor funds as well as donor advised funds. We help educate our clients on each of the types of funds and handle all of the compliance, fiscal and fiduciary obligations associated therewith.


Want to Establish a Fiscal Sponsorship Fund? Visit:
https://edwardcharlesfoundation.org/


Want to touch base with Kent?
https://setonlawgroup.com/contact/