What is Fiscal Sponsorship?
Fiscal Sponsorship is a formal arrangement in which a 501(c)(3) public charity sponsors a project that may lack exempt status. This alternative to starting your own nonprofit allows you to seek grants and solicit tax-deductible donations under your sponsor’s exempt status. – GrantSpace.org
Do you Qualify?
- Check out these sites for more info: Council of Nonprofits and Grant Space.
- Learn more through this helpful document: So you’re considering fiscal sponsorship
Fiscal Sponsorship Through Palms for Life
- Have you already applied for a non-profit status in the US?
- What is your budget and program design?
- How do you plan to raise funds?
- Who would be your main contributors? Individuals, corporations, foundations, etc?
- How is your organization structured? Who is the project manager in the US and on the ground? Who manages the project funds?
- Have you worked with another non-profit organization/been fiscally sponsored before?
Organizations need to be (a) approved by our Board of Directors and (b) have goals in line with our mission (addressing food, water and sanitation, and education).
The modality we use is where all funds are received and managed by Palms for Life Fund, meaning the recipient organization that manages the project on the ground will receive funds directly from Palms for Life based on an approved budget and a schedule of expenses and periodic requests for funds. We need to make sure, however, that there is a solid level of financial control in place. Palms for Life applies a management fee from the funds that we administer; this is determined on a case by case basis and formalized through an agreement.Please note that donations to organizations that we fiscally sponsor are not donations to Palms for Life. Fiscally sponsored organizations create their own, independent relationships with their donors and engage with them separately and directly.
Currently Fiscally Sponsored
We are a community group planting plants and ideas at a previously underutilized space in New York City. Our goals include demonstrating appropriate technologies as functional and educational tools, regeneration of strong urban ecology and building cohesive community through fun, outdoor interaction.
The Sanitation Project is an organization responding to the Prime Minister of India Narendra Modi’s Swachh Bharat mission, an initiative that encompasses a goal of building more than 5 million toilets in India by 2019. The Sanitation Project strives further this aspect of the Swachh Bharat by utilizing foreign support. The organization will use these foreign funds to first educate villages on the importance of sanitation and then supply a self sustainable toilet facility. The Sanitation Project was founded by a group of like minded individuals based out of Austin, Texas. After launching the Toilets 4 India mission, many people from various backgrounds requested to volunteer for the cause. As of Oct 15th 2014, two members of the team (see bios below) Nathan Pinto and Marco Pineda have relocated to India and while stationed in Bangalore they plan to execute the first phase of 4 phase plan. THe remaining 10+ members of the organization have remained in the United States to continue building awareness and supporting for operations in India.
RIEcuador is a registered, tax-exempt, charitable organization established in Ecuador since 2014. This organization benefits children living in extreme poverty in the canton of Gualaceo, in the province of Azuay, Ecuador, by providing those children with opportunities and experiences otherwise unavailable to them. RIEcuador supplies indigent children with supplies necessary for them to attend school; and Funds and organizes field trips to educational sites and locations outside the children’s villages to expand their knowledge and world views.