CFWM considers requests from charitable programs that have a 501(c)(3) organization serving as a fiscal sponsor that meets CFWM’s eligibility requirements. The organization serving as the fiscal sponsor must demonstrate solid fiscal and administrative capability. CFWM reserves the right to withhold approval for sponsoring 501(c)(3) organizations that are determined not to meet our eligibility requirements or whose financial situation is not conducive to this role.
Charitable programs seeking to be considered for a grant through a fiscal sponsor should submit:
- Completed CFWM Fiscal Sponsorship Agreement Form (http://communityfoundation.org/grants/forms/)
- A copy of the signed agreement between the fiscal sponsor and the sponsored organization documenting the relationship and the charitable nature of the undertaking. The written agreement can be a contract, memorandum of understanding, or a grant agreement.
- A copy of the minutes of the meeting where the fiscal sponsor’s governing authority approved the agreement or a copy of the resolution allowing the 501(c)(3) organization to act as the fiscal sponsor for the non 501(c)(3) entity or a copy of the resolution allowing an individual officer to enter into a fiscal sponsorship relationship.
- Current audited or reviewed financial statements (not a 990 tax form) for the 501(c)(3) organization that will serve as the project’s fiscal sponsor. Compiled financial statements will not be accepted.
The Community Foundation reserves the right to request additional financial documentation about the sponsoring organization to determine fiscally stability. If the above financial documents are not current reflecting the most recently completed fiscal year, among the documents CFWM may request are the following:
- For sponsoring organizations with annual budget of $500,001 or more: If audit is not current to the most recently completed fiscal year; the prior year’s audit must be submitted along with a 12-month Income and Expenses statement for the most recently completed fiscal year.
- For sponsoring organizations with annual budget of $200,001- $500,000: If reviewed financial statements are not current to the most recently completed fiscal year; the prior year’s financially reviewed statement must be submitted along with a 12-month Income and Expenses statement for the most recently completed fiscal year.
Submission of documents: The above requirements must be submitted to CFWM 10 business days prior to the deadline of any grant competition. Final approval will be provided by CFWM staff once the documents are deemed to meet all criteria above. Please contact any of our program officers for more information about fiscal sponsorship.
**Please note that CFWM does not act as a fiscal sponsor on behalf of charitable programs or individuals.