A Fiscally Sponsored Program is the product of an agreement between an established 501c3 public charity (like United Charitable) and a small group of individuals who are interested in soliciting donations and grants but lack their own unique tax-exempt status. Under this agreement, a program manager, or the person responsible for the small group of individuals, works with the non-profit to help achieve their mission.
Key Benefits of Using a Fiscal Sponsor
Applications to the IRS for tax-exempt status can take in excess of 6 months to establish. Processing through United Charitable can be completed in less than 3 once your inquiry has been submitted.
Most program managers and groups start an initiative because they care about the cause, not the paperwork. Having to create and maintain infrastructure takes away from time focused on mission.
There are some grant-awarding organizations that will not fund start-up organizations. By becoming fiscally sponsored under an established charity, you can avoid this restriction in many cases.
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