1st Step | Q & A | Clients
If you'd like to explore fiscal sponsorship with us:
-
Please read and respond BRIEFLY to the following 5 questions
-
Then email us your responses. Be sure to include a phone number.
-
In 2-3 sentences, describe what you wish to accomplish - what's your project all about?
- How do you plan on raising funds for your project?
- How much funding will be required to complete the first full year of your project?
- Insurance: Do you understand that you'll need to obtain insurance for your project?
- Have you read and understood the guidelines below?
|
CMS Fiscal Sponsor Guidelines - Please read the following:
-
Our Fee - It's customary for a fiscal sponsor to receive a percentage of your revenues. Our usual fee is 10% of your gross revenues (before expenses). We ask for an initial payment of $1,000, which will be credited toward your 10% fee. If you renew continuously in subsequent, years - with no interruption - a minimum of $500/year will apply, likewise credited toward your 10% fee.
- We only accept projects based in California.
-
Hands Off - We have no interest in controlling your project or meddling in the details of its execution. Our only concern is that all your activities and expenditures be permissible for a 501(c)(3) organization.
- Reports - We will request an annual report regarding your accomplishments.
- Fundraising - You'll be able to actively solicit donations from donors only in states where we're registered to solicit (currently only in California).
-
CPAs - Some formal grant-making foundations require CPA-audited financial statements. However, CMS does not retain a CPA to create these statements (which cost $10K-$30K).
- PayPal - We'll be happy to send you HTML code generated by PayPal which will create a donation button on your Web site.
- Bank Account - At some point you'll need to set up an association-type checking account at a bank or credit union to receive funds that first land in our account (which they must). This will allow us to transfer funds to you as soon as they clear.
|
|