Last week, Community Initiatives’ CEO and President Ruth Williams shared a blog listing “Eight Steps to Get Started with Fiscal Sponsorship” on Candid’s website. In the blog, Ruth shares the most important steps an organization should consider as it seeks to partner with a fiscal sponsor.
Fiscal sponsorship allows projects to center their efforts on their missions rather than spending time on professional administrative tasks. Professional services provided by fiscal sponsors often include: HR, financial management, tax preparation and audits, grants management, risk assessment and insurance, legal counsel, executive coaching, and donation oversight.
The eight steps Ruth shared include:
- Verify your idea is charitable
- Determine your needs
- Estimate your time frame
- Reputation matters!
- Alignment brings success
- Understand the fine print
- Know the costs
- Fundraising support is key!
Reviewing these steps will help to ensure your project finds the right fiscal sponsor to partner with, and provide the support you need to take your project to the next level and develop successful charitable campaigns.
If you have more questions about Community Initiatives and fiscal sponsorship, please visit the knowledge section of our website here.