Setting Up a Fiscal Sponsorship Program with Legacy

Are you a new emerging organization that would benefit from a fiscal sponsorship? Here is the process and timeline of how to set up a fiscal sponsorship program with Legacy.

A fiscal sponsorship is a legal arrangement in which a nonprofit organization acts as the fiscal sponsor for another organization, typically a new or emerging organization, allowing it to receive tax-deductible contributions and access to other resources and benefits that are available to nonprofits. 

If you feel like your organization would benefit from a fiscal sponsorship, here's what you need to do:

• Visit www.legacyglobal.org/start and click on the "Start A Fiscal Sponsorship" button right below the statement Already Know What Kind Of Fund To Start?
• Next, click on the "Start Your Proposal" button. This will bring up a form that you can fill out to the best of your ability. It doesn't have to be filled out completely. This form will ask you to fill out the following areas: Personal Information, Fund Information, Fields of Interest, The Council Members, Fundraising, Disbursements, Intellectual Property, Political Advocacy, and Professional Advisor Information. 
  By filling out this form it feeds directly into our system, and an account manager will be reaching out to schedule an onboarding call.
• During the onboarding call, your account manager will go over the proposal form you previously filled out, review your charitable mission, and go over questions you might have. 
• Next, your account manager will send Council Member Profiles to each council member to be filled out and signed, or you can direct your council members here and have them click on the "Council Member Application".
  The Council Member Profiles ask more background questions regarding their nonprofit backgrounds, profession, fundraising experience, etc. Every council member must fill out a council member profile. 
  *Council members can be added to your project at any time.
• The Fund Agreement is the last step in setting up a fiscal sponsorship. The agreement will discuss policies and procedures, as well as what percentage rate the fund will pay yearly. 
• Once all of the paperwork is completed and signed, your account manager will send out a welcome packet which will be your verification that your fiscal sponsorship has legally been set up under Legacy Global Foundation and the welcome packet will include donation instructions so that your project can start receiving funds and moving forward. 

You can expect the process to set up a new fiscal sponsorship program with Legacy to take 14 business days. We work diligently to make sure that your project is being set up properly.

If you have more questions regarding fiscal sponsorships, check out this knowledge base article that answers the question: What is a Fiscal Sponsorship?

If you would like to contact our team directly you can:

• Click on the chat bubble icon on the bottom right-hand side of your screen. Our team responds quickly to the instant chats that come via the chat bubble
• Email our team at team@legacyglobal.org
• Give us a call at 602-704-2000

We look forward to discussing future project/fiscal sponsorship plans with you!