What is fiscal sponsorship?
Fiscal sponsorship is a community service offered by the Community Foundation of Snohomish County for individuals or groups performing charitable work. Fiscal Sponsorship provides tax-deductions to project donors. The primary beneficiaries of sponsorship services are typically new charities without 501c3 status and community groups planning a specific or short-term project that is clearly charitable in nature and furthers the charitable purposes of the Community Foundation.
What is the cost?
As compensation for its services, the Community Foundation charges a fee of 10 percent on all deposits.
- Is the organization a new charity or a community group without 501c3 status?
- Does the organization have a charitable purpose that serves all of Snohomish County?
- For what particular purpose is the organization seeking donations?
- Is there a fundraising plan? Does the organization have insurance?
- Does the project have a finite deadline?
- Does the organization have adequate controls to keep donation revenue separate from program-generated revenue (ticket sales, etc.) and to document names and addresses of donors? The Community Foundation can accept only deposits of donation revenue, not program revenue.
- Does the organization have a responsible person or a committee who will act as the Account Manager/Advisory Committee for the fund?