Nonprofit Financial Commons | andrews | Activity

andrews replied to a discussion in the forum Your Community Awaits

Thu, 30 May 2024 17:00:56 -0500

Reply to 501c3 fiscally sponsoring a 501c7

Also not an attorney, but it’s my understanding that a 501cX organization can only fiscally sponsor projects that fall into the same IRS designation. For example, 501c3 organizations can fiscally sponsor other c3-type organizations. Same for c4 organizations. While I have not come across many c7-type organizations seeking fiscal sponsorship, my…

andrews replied to a discussion in the forum Your Community Awaits

Thu, 30 May 2024 16:55:59 -0500

Reply to Fiscal Sponsor Webinar 5-28-24

Just to add a bit of clarification to @Kate‘s reply to #1 — if the project has a “board,” that group has no legal or fiduciary responsibilities. Those all roll up to the sponsor’s fiduciary Board of Directors. Some sponsors require an “advisory board” which can operate in any number of ways (it can be more informal advisory or operate a bit more…

andrews and ruth are now connected

Mon, 04 Dec 2023 02:08:23 -0600

andrews replied to a discussion in the forum Your Community Awaits

Fri, 01 Dec 2023 05:39:52 -0600

Reply to Should we use a fiscal sponsor or go it alone?

There’s already some good advice shared here but I’ll add that not all fiscal sponsors are the same and there are a few different models of fiscal sponsorship out in the world that have VERY different implications for the relationship and what your project’s responsibilities will be vs what the sponsor would be responsible for.

For backg…