Fiscal Sponsorship Fund
Provide for the educational needs of a deserving student.
A Fiscal Sponsorship Fund offers a way for an organization or project that has not yet obtained tax-exempt 501(c)3 status from the Internal Revenue Service (the “Proposed Exempt Entity”) to begin performing charitable activities by utilizing Midlands Community Foundation as a “sponsor” to receive tax-deductible donations and grants on behalf of the Proposed Exempt Entity. A fiscal sponsor is an established nonprofit organization that serves as the legal and financial “umbrella” for the sponsored organization or project. The fiscal sponsor provides fiduciary oversight, legal and tax compliance, financial management, and other administrative services for the Proposed Exempt Entity.
Fiscal sponsorships can be beneficial for organizations or projects that are not yet ready to obtain (or are in the process of obtaining) their own tax-exempt status. It can provide access to funding, administrative support, expertise, and credibility, helping the sponsored organization or project to begin their mission and activities prior to establishing their own separate nonprofit entity.
We’d like to tell you more about Midlands Community Foundation. Call 402-991-8027 or e-mail info@midlandscommunity.org.