Fiscal Sponsorship
Community LIFT as a Fiscal Sponsor
Fiscal sponsor organizations like Community LIFT provide a legal framework to enable the movement of resources from funders and donors to charitable initiatives, activities, ideas, and organizations that align with LIFT’s mission.
Community LIFT, a community and economic development intermediary, is a tax-exempt nonprofit that has the ability to receive charitable contributions for specific projects, the operational infrastructure to ensure compliance with applicable federal and state laws, and the adequate internal controls to ensure that the funds will be used for the intended charitable purposes. Simply stated, LIFT places responsibility for implementing programs in the hands of project or initiative leaders while allowing for tax-deductible contributions and ensuring appropriate financial oversight.
About Fiscal Sponsorship
Fiscal sponsorship is a formal arrangement in which a U.S. tax-exempt organization (the “Fiscal Sponsor”) enters into a written agreement with an individual, group, or organization seeking to raise tax-deductible funds to conduct a charitable project, either prior to or without incorporating or obtaining Internal Revenue Service (“IRS”) recognition as a tax-exempt organization (the “Sponsored Project”). It is an effective and efficient approach to starting new charitable initiatives, seeding new nonprofits, and delivering public services.
Fiscal sponsorship generally entails the Fiscal Sponsor agreeing to provide financial and administrative services, oversight, and the assumption of some or all of the legal and financial responsibility for the activities of groups or individuals engaged in work that relates to the Fiscal Sponsor’s mission. They assess an administrative fee based on a percentage of a project’s revenue or expenses. These fees can range based on the services that are provided and the complexity of grants to be administered.
If you are interested in applying for fiscal sponsorship with Community LIFT, please click the button below and complete the application. Our staff will review and be in contact with you soon!
For more information, contact Michael Cowan at 901.521.4232 x101 or by email at [email protected].
Community L.I.F.T. Corp.
© 2022. All Rights Reserved.
1863 Madison Ave. Memphis, TN 38104
(901) 521-4232
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