With this program, Park Pride functions as a fiscal sponsor, which is a non-profit organization with 501(c)(3) status that receives grants and donations on behalf of a group engaged in activities related to the sponsor’s charitable purpose (in this case, the improvement of parks and greenspace).
- This program provides low cost administrative services to registered Friends of the Park groups enrolled in the program.
- Park Pride establishes a designated fund for each sponsored Friends group to track income and expenses.
- Park Pride receives donations on behalf of the sponsored Friends group + assumes fiduciary responsibility for all project funds.
- Groups can accept donations without having to become a 501(c)(3) nonprofit, and Park Pride will send acknowledgment of tax-deductible contribution to all contributors.
- The Fiscal Sponsor Program allows groups to focus on raising funds and making park improvements!
What services are included in a Fiscal Sponsorship?
- Sponsored account to accept tax deductible contributions
- Disbursements from sponsored account as authorized by Project Liaison + approved by Park Pride
- Donor acknowledgement
- Receipts for in-kind donations
- Processing and tracking of company matching gift applications
- Tax reporting
- Monthly account statements of project donors
Who can benefit from a Fiscal Sponsorship?
- Organizations that wish to avoid the time and expense of applying for a 501(c)(3)
- Organizations that have applied for (or are in the process of applying for) 501(c)(3) status
What is the Cost?
Park Pride’s standard fee for these services is 5% of contributions received (plus any applicable credit card fees).
What are the eligibility requirements?
- Only registered Friends of the Park groups are eligible for fiscal sponsorship by Park Pride and must submit a fiscal sponsorship application
- Funds must be used for: improvement and/or maintenance of a public park or greenspace; acquisition of land for public greenspace; programming designed to increase park usage
- Must obtain approval to use Park Pride’s name and/or logo on all grant proposals, publicity, signage, and outreach materials
- Must obtain Park Pride’s prior approval for all fundraising events and sales
- Must submit annual report
Begin the process to Fiscal Sponsorship by calling or emailing Park Pride:
Fiscal Sponsorship Resources
|Fiscal Sponsor Authorization to Release Payment Form||Forms||Authorization for reimbursement of incurred expenses.|
|Fiscal Sponsor Program Updates – 2020||Guides||Video that highlights 2020 changes to Park Pride's Fiscal Sponsor Program|
|Authorization or Update of Authorized Project Liaisons||Forms||Use this form to provide the required annual update of Authorized Project Liaison by 2/15 of each year, or if your Friends Group is changing the Authorized Project Liaison mid-year.|
|Policies + Procedures||Guides||Fiscal Sponsorship Program policies and procedures that will ensure the effective and efficient operation and continued success of the program.|
|Auction or Sales Donation Record||Forms||Use this to record the value and sale price for any auction fundraisers.|
|Pledge Card Template||Forms||You may use this template if you plan to distribute pledge cards to your Friends of the Park Group to raise money for a specific project or ongoing expenses.|
|Request receipt for in-kind donation||Forms||Complete this in-kind donation form and submit to Program Manager for signature to provide an in-kind donation receipt.|
|Online Fiscal Sponsor Donation Form||Forms||Make a Gift to a Friends of the Park Group! Please use this form to make a gift that is restricted for use supporting the park or greenspace you designate through that space's Friends of the Park Group for the purpose of park improvement.|