fiscal sponsorship agreement background

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Fiscal Sponsorship Agreement Background Info

(compiled by Jessica)

 

I've been looking at sample fiscal sponsorship agreements to figure out what this could look like for us. Links are below. As an overview, the following is a list of topics that may be addressed:

 

("project" = Free Ride, "sponsor" = Bike Pittsburgh)

 

• Finances - may include a variety of specifications:
  • accounting procedures
  • reporting - furnish reports quarterly, etc.
  • who does record-keeping
  • "project assets used for sole benefit of project"
  • administrative fee from project to sponsor.

 

• employees of project
• administration
• termination of agreement
• insurance
• conflict resolution (and even recovery of legal fees from disputes!)

 

• 503c3 status - i.e., sponsor extends benefits to project, project does not engage in any activities that may jeopardize status.

 

• Governance: project will by governed by (whatever agent within project), will report in such-and-such way to some entity (board, subcommitee, individual)within sponsor. Definition of relationship between projects.

 

There is a substantial amount of variation within the agreements I have seen. Some are very basic and only include about three of the above points, some go into more specifics. There is also a range of options in the implementation of many points. It appears that the agreement can pretty much be tailored to include whatever is relevant to the working relationship of the particular groups in question.

 

Links to samples:

 

http://www.mncn.org/doc/SAMPLE%20FISCAL%20AGENT%20AGREEMENT.PDF

 

http://www.compasspoint.org/askgenie/details.php?id=90

 

http://www.publicwelfare.org/resources/501c3_tax_status/sample_agreement.asp

 

http://www.silklaw.com/forms/fiscspon-ModA-agm-frm-206.pdf

 

Happy reading! It's chilly outside, perfect time to

curl up with a cup of tea and a good... sample fiscal

sponsorship agreement.

 

-Jessica

 

Fiscal Sponsorship Agreement main page