Fiscal Sponsorship and Nonprofit Incubator

Let Us Help You Make the Pieces Fit for Starting a Nonprofit or Sustaining an Existing Social Effort.

If you have been leading a program or have an idea for a nonprofit but are not ready to apply for IRS 501 (c) 3 Tax status, consider fiscal sponsorship or incubation to access the operational and fiscal support you need. The SISGI Beyond Good Ideas foundation provides two types of support to organizations that are in the program or start-up phase but are not yet registered tax exempt or IRS 501 (c) 3 designated nonprofits.

Fiscal Sponsorship

Fiscal Sponsorship is for established programs or efforts that have strong administrative systems and programming but need to allow tax deductions for donations to their cause or are required to be a 501 (c) 3 to qualify for grants and other funding. Potential fiscal sponsorships must meet a very rigorous standard of criteria and is highly selective. In general, because the IRS highly scrutinizes fiscal sponsorship relationships to decrease fraud and misuse of tax exemption, only qualified organizations and programs that have a strong fiscal system and evaluation system for their programming should consider this option. In addition, because our foundation would be applying for any funding that requires a 501 (c) 3, all funders must be approved to assure non-compete with our existing programming.

Items you will need in order to qualify for fiscal sponsorship:

  • Proposed or Current Annual Operating budget
  • Program budgets if different than operating budget
  • Leadership team resume and bios
  • References for program services or events or leadership team if no existing program has occurred
  • Evaluation of outcomes for most recent year of programming or proposed evaluation strategy
  • Financial projection for upcoming fiscal year and two more years
  • Expected funders and supporters for upcoming fiscal year
  • Long term financial model
  • Program Plan and Impact Plan

Nonprofit Program Incubator

A much easier and less selective option is our nonprofit program incubator. This is a place for efforts that are still in the idea and early development phase that are looking for assistance not only in fiscal oversight but in program design and start-up. Selected programs receive technical assistance in their organization design, strategic planning, financial planning and systems development. You are able to still utilize our 501 (c) 3 but rather than just a fiscal relationship our organization serves as a springboard to your organization for a minimum of one year to assist you in the necessary steps for long term program sustainability. We provide training on essential skills and information you will need to run your program and we assist in things like grant writing, program planning and design, partnership development, resource acquisition, nonprofit filing and financial management.

To qualify for our nonprofit incubation program you will need:

  • Leadership team resume and bios
  • Mission and Vision Statement
  • Goal Statement for Year One
  • Program Design Draft
  • Expected outcomes and growth strategy
  • Draft or Projected Year One Budget

Let us help you realize your dream of launching or sustaining a nonprofit organization!

Contact us for more information or to discuss which option best fits your needs at bgifoundation@sisgigroup.org
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