Understanding Fiscal Sponsorship

A fiscal sponsor is an established nonprofit organization that offers its legal and tax-exempt status to a project or group that does not have its own. This arrangement helps emerging projects, initiatives, or organizations to operate under the umbrella of the sponsor, allowing them to receive tax-deductible donations and grants while they develop the necessary infrastructure to establish their own nonprofit status.

In summary, fiscal sponsorship is a strategic partnership that offers practical support and resources to projects or organizations, helping them to achieve their goals while navigating the complexities of nonprofit operations.

Fiscal Sponsor Partnerships

At The Carla Rose Foundation, we have been privileged and blessed to collaborate with a wide array of remarkable projects as a fiscal sponsor. These partnerships span various sizes and focus areas, all united by a common goal: to align with our mission and vision of promoting holistic wellness. We cherish the opportunity to serve as a catalyst for these initiatives, helping them unlock their potential and achieve their goals.

IAA Athletics

This project aims to develop a user-friendly mobile application.

Sable Sands Sanctuary

This project aims to develop a user-friendly mobile application.

• Black Women Widows Empowered

• B.Y.E, LLC

• Decorating Daydreams

• For Our Daughters

• Miss All Natural Pageant

• Scholar Connections

• Scott's Branch Performing Arts Center

• A Family Affair

• Ride Africa

• Families First Always

• Relief Rocks

• Amplify and Support Learning

• Empower Me Ministries

FAQs

How do I get a fiscal sponsor?

Securing a fiscal sponsor is a strategic step for projects or initiatives that aim to operate under the legal and financial umbrella of an established nonprofit. Here’s a guide to help you navigate the process of finding and securing a fiscal sponsor:

1. Define Your Project Goals

Before seeking a fiscal sponsor, clearly articulate your project’s mission, goals, and objectives. This clarity will help potential sponsors understand your vision and assess how it aligns with their mission and values.

2. Research Potential Sponsors

Identify organizations that align with your project’s focus and values. Look for nonprofits that have a history of fiscal sponsorship and have supported projects similar to yours. Consider reaching out to:

• Community Foundations: These organizations often support local initiatives and may offer fiscal sponsorship.

• Nonprofits with Similar Missions: Seek out nonprofits that share your project's goals, as they may be more inclined to support your work.

• Professional Networks and Associations: Membership groups in your field may have resources or connections to potential sponsors.

3. Prepare a Proposal

Craft a comprehensive proposal that outlines your project’s objectives, budget, expected outcomes, and timeline. Include information about your team’s expertise and any prior achievements. This document should clearly demonstrate the value and impact of your project.

4. Initiate Contact

Reach out to potential sponsors with a personalized message. Introduce your project, explain why you think their organization would be a good fit as a fiscal sponsor, and express your interest in discussing a potential partnership. Be sure to attach your proposal for their review.

5. Present Your Project

If a potential sponsor shows interest, prepare to present your project in a meeting. Be ready to discuss how your project aligns with their mission, the benefits of fiscal sponsorship for both parties, and any specific needs your project requires.

6. Negotiate the Terms

Once you find a potential match, negotiate the terms of the fiscal sponsorship. This includes discussing the administrative fees, the level of oversight and support they will provide, and the expectations for reporting and compliance. Ensure all parties understand their roles and responsibilities.

7. Formalize the Agreement

After reaching an agreement, formalize the partnership with a contract or memorandum of understanding. This document should clearly outline the terms of the sponsorship, including financial arrangements, reporting obligations, and the duration of the sponsorship.

8. Maintain Open Communication

Once your project is underway, maintain regular communication with your fiscal sponsor. Provide updates, adhere to reporting requirements, and seek their advice as needed. A strong, collaborative relationship will contribute to the success of your project.

By following these steps, you can effectively secure a fiscal sponsor that aligns with your project’s mission and enhances your capacity to achieve your goals.

What are the benefits of fiscal sponsorship?

• Access to Funding: Projects can attract donors and secure funding more easily by leveraging the sponsor’s established nonprofit status.

• Reduced Burden: Administrative and compliance responsibilities are shared, allowing projects to concentrate on their core activities.

• Reputation and Credibility: Being associated with an established nonprofit can enhance the credibility and visibility of emerging projects.

Can I choose how my sponsorship is used?

When engaging with a fiscal sponsor, it's important to understand the scope of decision-making power regarding the use of sponsorship resources.

While projects under fiscal sponsorship have some say in how sponsorship resources are used, they must operate within the framework established by their agreement with the sponsor. Collaboration, transparency, and adherence to guidelines are essential for the successful management of sponsorship funds.

Is sponsorship tax-deductible?

Yes, the Carla Rose Foundation is a registered nonprofit, so donations are tax-deductible.

How long is a sponsorship term?

Sponsorships can be monthly, yearly, or customized to fit your preferences.

Partner with Us: Unlock Your Project's Potential

Are you a visionary leader with a mission-driven project but lack the infrastructure to operate as a nonprofit? Fiscal sponsorship with The Carla Rose Foundation, Inc. could be the solution you need.