CFWM does not act as a fiscal sponsor on behalf of individuals or projects. However, CFWM may consider requests from charitable programs that have a 501(c)(3) organization serving as a fiscal sponsor that meets CFWM’s eligibility requirements. The requirements for fiscal sponsorship include:
- Completion of the Community Foundation’s Fiscal Sponsorship Agreement.
- A fully signed copy of the written 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 board of directors approved this contract or a copy of the board 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 board resolution allowing the executive director to enter into a fiscal sponsorship relationship.
- Current audited or reviewed financial statements for the 501(c)(3) organizations that will serve as the project’s fiscal sponsor. Compiled financial statements will not be accepted.
The above requirements must be submitted to the Community Foundation 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.