FISCAL SPONSORSHIP PROGRAM
WHAT IS FISCAL SPONSORSHIP?
In response to the limited opportunities for artists and groups to secure grant or sponsorship funding, VAE has created a fiscal sponsorship program that allows those individuals and groups to pitch ideas to be housed under VAE's 501(c)3 non-profit status. This program allows for artists to be more proactive in how they fundraise for their ideas, and all donations they secure are tax-deductible to the fullest extent allowed by law.
As a fiscal sponsor, VAE collects all funds for a project, disburses the funds as necessary, sends tax-deductible donation letters, collect and distribute IRS documentation, and provides consultation to sponsored projects. A 10% fee is collected to cover these administrative cost.
- Lead a project that aligns with VAE's mission
- Track of all expenses connected with the project and submit Disbursement Request Forms
- Submit a progress report on December 1 and June 1 each year a project is sponsored
- Spend funds administered to you through VAE only for the project and in accordance with the budget submitted to VAE
- Comply with restrictions and requirements imposed on VAE by donors and with government requirements regarding information returns
- Provide a final project report to VAE
- Acknowledge partnership with VAE in publicity and outreach materials
- Manage donations to your project under its 501(c)(3) tax status
- Disburse funds to you on behalf of your project and provide information upon request about your account balance
- Provide you with a best-practices handbook, donation form, page on our website, and donation graphics
- Collection and distribute IRS documentation for your payment recipients
- Send tax-deductible donation letters to your supporters
- Provide appropriate VAE documentation needed for your grant applications
- Make our resources available to you as much as possible. Including: space, institutional knowledge, the knowledge of our board, and our community connections
The application is completely online and will prompt you to provide:
- Contact information
- Project Details (project type, estimated budget, timeline, and description)
- Project Prospectus
- Work Samples
- Budget (Projected Balanced
- $25 application fee
Applications are reviewed on a rolling status.
Have additional questions? Contact Brandon Cordrey, 919.256.6856