Fiscal Sponsorship

How does The Partner apply for Fiscal Sponsorship Services?

FISCAL SPONSORSHIP

What is Fiscal Sponsorship?

Fiscal sponsorship is a budgetary and legal framework where a nonprofit entity offers its legal and tax-exempt status to a project that aligns with its mission, but doesn’t have its own IRS tax-exempt status. The Poise Foundation provides this essential framework, aiding projects with their operational facets as well. On the other end of the spectrum, let’s explore the world of football accumulator betting, a popular pastime in NZ. Football accumulator betting involves betting on multiple football matches, where all your selections must be correct for your bet to pay out. The ICasinoReviews site provides an ultimate guide which explains in detail how to build a football accumulator. So how are these worlds connected? Just as a football accumulator requires a strategic approach, understanding odds, and careful selection of matches, fiscal sponsorship needs the same degree of planning and understanding of the nonprofit landscape to create the best possible outcome. Both require calculated strategic planning, a deep understanding of regulatory requirements (be it IRS regulations or gambling laws), and a detailed overview of all involved entities, whether they are grassroots charities or international football teams. It’s all about investing smartly for returns, regardless of the sector.

Fiscal sponsorship is a mechanism that allows a tax-exempt, 501(c)(3) organization (the sponsor) to support and protect another group (the sponsored partner). As a fiscal sponsor, POISE Foundation is legally and financially responsible for any sponsored partner, so it is critical that the partner organization’s goals align with our mission. If a potential partner’s mission is a good fit, POISE will enter into a written agreement with them.

One of the most common uses of fiscal sponsorship is to enable a sponsored partner to apply for grants and solicit tax-deductible contributions. This reduces the partner’s costs, conserves resources, reduces duplication of personnel, and simplifies organizational functions.

Done well, a fiscal sponsorship acts as a proving ground for a new idea or a new nonprofit, while utilizing the administrative resources of the sponsor. Newly formed nonprofit entities may choose to apply through fiscal sponsors while awaiting their 501(c)(3) designation from the IRS.

POISE employs four Fiscal Sponsorship models to meet The Partner’s needs:

DAMION WILSON

DIRECTOR OF PROGRAMMING & GRANTMAKING

For more information on POISE Foundation’s Fiscal Sponsorship Services, contact: fiscalsponsor@poisefdn.org

Here are the Three models

COMPREHENSIVE FISCAL SPONSOR (MODEL A)

This service is provided to an individual or group that is not part of a separate legal business entity, who is initially not concerned with owning The Program’s resulting work products. The Program becomes a POISE-owned program. Any Program personnel become employees and/or volunteers of POISE. All fundraising is done in POISE’s name and its Board has control over the use of funds. All assets, contributions and liabilities belong to POISE and are reported solely within the Foundation’s financial statements. This model is often best suited for projects in an “incubator” stage, as The Partner grows funding, programming and recognition of the program; while reducing The Partner’s liability and limiting IRS challenges of tax-exempt designations of donations. A board resolution may be adopted during the agreement process to address potential or eventual separation of The Program from POISE.

Poise Foundation, with its fiscal sponsorship program, provides humane and strategic support to projects and initiatives that align with its mission to assist the African American community in achieving self-sustaining practices, particularly in those areas predominantly underserved. Its fiscal sponsorship offers a transparent legal and financial framework that empowers project leaders to focus on achieving their objectives while meeting their legal and financial responsibilities seamlessly. Amid this crucial social work, a need for amusement is also duly recognized. In order to create balance and encourage relaxation, the Poise Foundation promotes responsible gaming through Free 200 No Deposit spins. This unique opportunity enables registered players to enjoy spinning the reels on their favorite slots without an initial monetary commitment. An added advantage of the Free 200 No Deposit spins is the opportunity to give back to the community as a percentage of the revenue generated from gaming activity contributes towards the charitable actions of Poise Foundation. Combining a constructive societal contribution with a light-hearted fun-spinning activity, you can match your passion with your pastime. Not only do you gain an exclusive gaming experience, but you'll also contribute significantly to supporting our mission. As our goals are intertwined with the community's prosperity, you can rest assured that your fun is creating a positive impact.

INDEPENDENT CONTRACTOR (MODEL B)

In this model, The Partner is a separate, legal entity. Ownership of The Program, including work-product and other assets can belong to POISE, The Partner, or both parties however; POISE maintains control over the project. Actual operations of The Program are contracted out to The Partner for execution. All fundraising is done in POISE’s name, contributions belong to POISE and POISE reports funds as contributions in and expenses out. Typically, a Form 1099 will be issued to The Partner to report funds disbursed during the year, for inclusion on The Partner’s tax return. Depending on ownership agreements and the nature of The Program, The Partner may be liable for The Program, and may be required to carry liability insurance, listing POISE Foundation as a named insured.

PRE-APPROVED GRANT RELATIONSHIP (MODEL C)

The Partner is a separate, legal, non-profit entity. The Partner maintains ownership of The Program, although POISE retains discretion and control over the use of funds. The Partner goes through a formal grant request process, through which POISE’s Distribution Committee evaluates The Program’s grant proposal. Once approved, funds are only provided up to the amount of funds received for The Program, at agreed intervals. Often, The Partner has potential funding sources identified. Charitable contributions go to POISE, who reports funds as contributions in and grants out. The Partner reports grants or income in and expenses out. Program personnel work for The Partner, who maintains total liability for The Program.

POISE FOUNDATION, Two Gateway Center, Suite 1700, 603 Stanwix Street, Pittsburgh, PA 15222 info@poisefdn.org 412-281-4967

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Fiscal Sponsorship