Fiscal Sponsorships Improve Our Community
IRS regulations allow charitable foundations such as Pikes Peak Community Foundation to provide program support and financial services for charitable and beneficial community projects have not yet sought tax exempt charitable status from the IRS.
This allows PPCF to accept charitable, tax exempt donations in support of community projects without requiring the founders of the project to file all the paperwork to become a tax-exempt organization with Articles of Incorporation, Bylaws, a Board of Directors, or the responsibility of filing annual tax returns to the IRS.
In order to do this, however, PPCF must maintain complete fiduciary authority and control over all funds contributed to the project. In addition, PPCF ensures that gifts can only be used for the approved purpose of the project.
Eligibility criteria for establishing a Fiscal Sponsor Fund at PPCF include the following:
- The project must be consistent with PPCF's overall mission of advancing community philanthropy.
- The project must fall within one of seven funding priorities: Arts and Culture, Civic Improvement, Community Development, Education, Environment, Health, or Human Services.
- The project must have able and committed leadership.
- The project must meet a real and vital community need or opportunity.
- Project goals and objectives must be clear and realistic.
- The budget for the project must have realistic projections.
- The project must have the ability to attract charitable contributions necessary for success.
Currently, PPCF works with almost 100 different projects that benefit a broad spectrum of people living in El Paso and Teller Counties.
Fiscal Sponsor Funds are a highly efficient way to make an impact without the headaches and paperwork of a new charitable organization.
Please contact Sara Barad by email or by calling (719) 389-1251 to schedule an initial interview about your project.