Does your organization get bogged down in recordkeeping? Do you spend more time on vendor management than on providing services?
You exist to respond to important needs and fulfill dreams but you require an effective back-end strategy to make that happen. We take care of the financial administration and troubleshooting so you can focus on the program mission.
The important difference between a fiscal sponsorship and a fiscal agency agreement is that funds granted to a non-exempt project that has a fiscal sponsor are tax-deductible to the donor. Funds that are granted to a project with a fiscal agent, are not.
Why Designate A
Many foundations or funders cannot make donations to organizations that are not tax-exempt under IRS tax code. Some organizations do not have the infrastructure to receive, manage and make payments and provide the required recordkeeping. Use of a fiscal sponsor, such as the CLPCCD Fiscal Sponsor Team, solves these problems and allows client organizations to focus on their mission, rather than being bogged down by their fiduciary responsibilities.
Receive and track grant or contract funding.
Hire individuals and contract with organizations to provide services to reach goals.
Check for accuracy and applicability to specified scope of work. Once completed, forward to program staff for review. Once payments are approved by program, we issue payment as directed.
Provide current numbers on funds received, payments made and available balance at your preferred frequency with 24/7 access to the data.