What is Fiscal Sponsorship? How it Works, Best Practices, & a BIG Announcement

There are times when people who want to start a charitable program don’t really want to start a full-blown nonprofit. There are all kinds of reasons why that may be, but for many, it’s that they don’t want the overhead of a board of directors, incorporation, getting 501(c)(3) status, tax filings... the whole gamut. So, if that’s the case, what do they do? Well, fiscal sponsorship is a great option, and what’s we’re going to talk about today.

What is it? How does it work? What are some best practices? There’s a lot of stuff I’m going to cover, and it will really help you out if you’re interested in this topic. Stay tuned until the end for a special announcement!

🎉 BIG ANNOUNCEMENT:
NOW OPEN!! Compass Charitable Partners is a new 501(c)(3) fiscal sponsorship charity, brought to you by the experts at Foundation Group. Compass launched in December 2023 and is available to select charitable projects nationwide. Visit the website to learn more!
https://www.compasscharitable.org/

📚 ADDITIONAL RESOURCES:
•VIDEO: How Do You Start a 501(c)(3) Nonprofit?    • How Do You Start a 501(c)(3) Nonprofit?  
•VIDEO: How Do You Manage Restricted Funds?    • How Do You Manage Restricted Funds?  
•BLOG ARTICLE: What Is a Fiscal Sponsor? https://www.501c3.org/what-is-a-fisca...

🏆 YOUR NEXT STEP:
•Fill out this form for a FREE consultation on how to start a nonprofit: https://bit.ly/3Tu9nYE
•Register for Fundraising TV: https://www.501c3.org/fundraising-tv/
•Download the FREE eBook “10 Things You Need to Know Before Starting a Nonprofit” https://bit.ly/3XhFag0


0:00 Introduction
1:06 Fiscal Sponsor Definition
1:44 Use Cases
5:09 Requirements for Sponsor
6:15 Requirements for the Project
7:38 Model Types of Fiscal Sponsorship
9:07 Best Practices: Donor Relations
9:33 Best Practices: Cash Flow
10:05 Best Practices: Reporting
10:40 Cost of Fiscal Sponsorship
10:48 BIG ANNOUNCEMENT 🎉🎉🎉
12:38 Conclusion