What is fiscal sponsorship for film?

What is fiscal sponsorship for film?

About Fiscal Sponsorship Fiscal Sponsorship is used primarily when a film or media-related project wants to secure funding from individual, foundation, government or corporate sources that give only to nonprofit organizations with IRS tax-exempt status.

What does a fiscal sponsor do?

A fiscal sponsor is a nonprofit organization that provides fiduciary oversight, financial management, and other administrative services to help build the capacity of charitable projects.

What is needed for fiscal sponsorship?

In a fiscal sponsorship arrangement, the sponsor accepts tax deductible donations and grants on behalf of the sponsored project/organization. The sponsor accepts responsibility for the use of those funds and ensures their application toward charitable purposes, along with any additional donor restrictions.

What is a fiscal sponsorship agreement?

The term fiscal sponsorship broadly refers to a number of contractual relationships that allow a person, group, or business to advance charitable or other exempt activities with the benefit of the tax-exempt status of a sponsor organization.

Can you have more than one fiscal sponsor?

Can my project have more than one fiscal sponsor? Maybe. If you already have a primary fiscal sponsor and are applying to IDA for additional sponsorship please contact the Fiscal Sponsorship department to discuss your specific situation before beginning our application process.

Do you need a fiscal sponsor for a film project?

A film project’s health may only be as strong as its fiscal sponsor’s health so it’s imperative for a filmmaker to do their due diligence (i.e., homework) in ensuring they have selected an appropriate fiscal sponsor. How do you check 501 (c) (3) and public charity status?

How do I apply for fiscal sponsorship?

You must be a current Film Independent Member to apply for fiscal sponsorship. The program is open to independent narrative and documentary projects of any length and at any stage of development.

What is the fiscal sponsor’s purpose statement?

The fiscal sponsor must have a purpose statement that allows it to support the film project.

Can the fiscal sponsor Delegate the management of the funds?

But the fiscal sponsor may delegate management of the funds to specific employees, contractors, or volunteers of the fiscal sponsor selected by the filmmaker (comprehensive fiscal sponsorship).