FISCAL SPONSORSHIP
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Fiscal sponsorship is a formal arrangement in which, Common Measure, a 501(c)(3) nonprofit organization offers the legal and tax-exempt status to a project or initiative that aligns with our mission and values.
This arrangement is particularly beneficial for projects that may not have their own nonprofit status but need to access certain financial benefits.
Advantages of Fiscal Sponsorship for Projects:
Access to Funding: Allows projects to receive grants and donations that require IRS-recognized charitable status, opening up a broader range of funding opportunities.
Tax-Deductible Donations: Donors can make tax-deductible contributions to the project through the sponsor, enhancing fundraising appeal.
Administrative Support: Provides administrative services
such as fund management, payroll, and compliance oversight, allowing artists to focus on creative and production aspects.Cost Efficiency: Reduces the need for the project to maintain its own nonprofit infrastructure, lowering overhead costs.
Credibility: Association with an established nonprofit can lend credibility and legitimacy to the project, attracting more support from donors and funders.