Learn about how to get your space non-profit status on day one, so you can take grants and donations.
501(c)3 status is incredibly helpful when trying to make a difference in the world. It makes it easier for people to donate money to your cause, to qualify for most grants, and gives you access to an incredible set of resources. But it's also difficult to come by - lots of paperwork, lengthy process, and the cost of operations can make 501(c)3 status not worth the effort for smaller organizations.
Fiscal sponsorship allows a larger organization to umbrella smaller organizations. Your organization gets all the benefits with far less hassle. The School Factory tracks all the legal paperwork and makes sure your donors get receipts. We'll even help with the paperwork and tax filings - we take a very small cut (10%) of larger donations to cover the legal and administrative fees of managing your non-profit status.
|1||Review the Understanding Fiscal Sponsorship document so your board understands the implications and limitations of Fiscal Sponsorship.|
|2||Download, fill out, and have your Board President sign the Fiscal Sponsorship Agreement and Fiscal Sponsorship Policies PDFs. Email them to email@example.com. We will sign the documents and email you a copy.|
|3||Complete the steps to sign up on this OpenAtrium site so we can communicate with your space.|
|4||Schedule an introductory conference call with your board and School Factory management to learn more about how to use your Fiscal Sponsorship. Contact James Carlson, firstname.lastname@example.org or schedule time directly with http://doodle.com/jamescarlson.|
|5||Use the Donation Form to log any cash or item donations you receive. We will take care of receipts! Is your space not listed? Create a Task on Atrium and assign it to James Carlson.|