Fiscal Sponsorship

Fiscal Sponsorship

NEW YORK, Sept 13 (Reuters) – Even if you have a brilliant idea for a new charity, your altruistic intentions could get derailed by a morass of complicated 501(c)3 tax rules and regulations.

There is an alternative, however. Consider piggybacking onto an existing organization’s infrastructure and tax status, a process known as fiscal sponsorship. This allows you do good work, without the tax hassle of running your own organization.

Fiscal sponsorship is a cost-effective way to implement new programs, bring together groups to collaborate on an issue, and test new approaches to social change.  Fiscal sponsorship is a common mechanism used in the nonprofit sector that enable individuals to start new programs without establishing a new, separate nonprofit tax-exempt organization.  These fiscally sponsored projects get their charitable status from their fiscal sponsor. 

Fiscally sponsored projects under the Associate Ministers Partnership are not separate and isolated entities; rather they are an integral part of Joy To The World Foundation.  We receive charitable donations and grants on behalf of our fiscally sponsored projects; maintain the necessary legal and financial infrastructure for all project activities, and allow project managers to focus on creating a healthy, just and vibrant world.

Fiscal sponsorship enables our projects to participate in the nonprofit sector which many could not do because of lack of administrative expertise, capital resources, or unfamiliarity with regulations and requirements.  Establishing an independent 501(c)(3) organization is expensive, the process can cost upwards of $10,000 and then there are annual administrative expenses each year which often run 20-30% of their operating budget.  The Joy To The World fee of 5% of what comes into the project is among the lowest in the country for fiscal sponsorship.  Fiscal sponsorship is an efficient, economic way to reduce the cost of running an organization and still maintain the integrity of the organization’s purpose.  All fiscally sponsored projects are legally a part of The Joy To The World Foundation and have access to all of the support services available to projects in the Foundation.

The Joy To The World Foundation is one of the leading fiscal sponsors in the country and has been in business for 25 years and has sponsored over 350 projects, processing over $6,000,000 a year for charities and projects.

Here are some of the services that we have available:

 DONOR SERVICES:

  • Credit card and ACH giving
  • Every gift receipted, year- end receipts for donors
  • Compliance monitoring
  • Trusteeship for Charitable Trusts
  • Special gift processing – stock, real estate, business interests
  • Advanced estate and gift planning

 SPECIAL PROGRAMS:

  • DBA filings
  • Mission/Vision trips
  • Medical/Benevolence gifts
  • Charitable Associates Network
  • Charitable Internship Program
  • Associate Minister’s Program
  • Scholarships
  • Endowments

 INVESTMENTS:

  • Professional investment advisement and management
  • Enhanced diversification and reduced risk from an institutional investor platform based on entity investment allocations
  • Reduced fees because of volume
  • Monthly and quarterly investment reports

 EXPERTISE:

  • Experienced staff – legal, accounting, finance and management
  • 25 years of operation as a Foundation
  • Over $100,000,000 given away
  • Fiscal sponsorship for over 250 projects in the US and worldwide
  • Strategic Planning

 SEPARATE ENTITY:

  • Keep assets separate from organization but still under it’s control
  • Can set up a separate foundation to raise and manage funds for organization
  • Neutral platform for collaboration with other charities
  • Secular platform for corporate matching gifts and foundation grants
  • Can be operated under the Foundation or as a separate entity

 EFFICIENT AND COST EFFECTIVE:

  • User friendly online dashboard with easy access to information
  • Detailed record keeping
  • No hidden fees, small percentage assessment on all transactions through      the foundation
  • No software to buy or load
  • Maintain your identity while increasing services

If you would be interested in discussing how your project or organization might utilize the services available at the Foundation, please call the Foundation office at 719-260-1173 and we will be happy to talk with you to find out if your project or organization would be a good fit with our services.

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