WHAT IS FISCAL SPONSORSHIP?
Fiscal Sponsorship allows nonprofit organizations to get started fast – without the burdensome task of applying, and then waiting for 501(c)3 nonprofit status with the IRS. It is also a very cost-effective way to bring your nonprofit idea into fruition. Once an organization becomes fiscally sponsored, the organization becomes tax-exempt and instantly eligible to receive tax-deductible donations and to apply for grants. ISI provides liability insurance and corporate protection, and you’ll have access to our excellent customer service and extensive experience in this field.
For many organizations, fiscal sponsorship quickly solves a multitude of problems. They stay focused on their programs, freed from the worry of ‘compliance,’ and resting easy, knowing their administrative ‘stuff’ is being safely and efficiently handled for them by their fiscal sponsor.
Inquiring Systems, Inc. (ISI) provides:
- Administrative and regulatory expertise
- Governmental and regulatory compliance
- The corporate shield of protection
- Workers compensation and liability insurance (especially important for events)
- Tax-exempt status, tax reporting, and accounting for tax-deductible donations (including audits)
- W-9 Reporting and 1099 processing, along with W2 Employee statuses if necessary
These services can save each project at least $5,000/year. We would love to talk with you about your unique situation.
Q: How do I know if my organization is right for Fiscal Sponsorship? Or if ISI can help my organization?
A: ISI is happy to provide a complimentary assessment of your situation. We will look at your mission statement, or provide guidance if you haven’t written one yet. Based on our discussion, we will provide our thoughts on the best next step for your journey.
Q: How is ISI different from other Fiscal Sponsorship & Consulting Services?
A: We are a small, friendly group with a penchant for customer service. Plus over 40 years of experience in the nonprofit world! You’ll get to talk with real people, and have thought-provoking conversations about your unique situation. ISI has a unique ‘Inquiring Systems’ approach to problem-solving. We are ecosystem-oriented (nonprofit and for-profit organizations ARE ecosystems), and we use a systemic approach to understanding the whole situation. We ask lots of questions and consider the interconnectedness of your project and our mission. This helps us determine what resources might work best for your group. We have lots and lots of resources!
Q: How much does it cost?
A: It depends on which services you contract with us to receive. Our base rate for Fiscal Sponsorship services is 7% of revenues. Plus we have a start-up fee of $850. The fee may be split into smaller payments, if needed.
We offer lots of Business Management Services, too. The costs for these are based on specific details. Please ask us for our Fee Schedule and contact us with any questions.
Q: Can we get a grant or financial support to cover the cost of your services?
A: Over the years, foundations have occasionally provided technical support grants to help cover the cost of our services. Because we use very detailed contract language, outlining the full scope of services and costs in our contracts, foundations can easily evaluate the services and benefits provided by ISI.
Click here for a more comprehensive overview of our services: Fiscal Sponsorship – Summary Overview
And Contact us to learn more about fiscal sponsorship opportunities with ISI.