The Role of a Fiscal Sponsorship Council Member

This article highlights key best practices and responsibilities for council members within a fiscally sponsored program of Legacy Global Programs.

Congratulations on establishing a fiscally sponsored program with Legacy Global! With your new role as a council member, comes responsibilities and best practices that are important to adhere to. This article will describe the responsibilities and best practices within the role of a council member.

Responsibilities

1. Mindful Recommendations

While serving as a volunteer member of a Fiscal Sponsorship Council Member, you are potentially given the permission to recommend grants, investments, or expenses to be paid from the fiscally sponsored program. When recommending activity for grants, investments or expenses to be paid, our team emphasizes solely recommending mindful recommendations.

Mindful Recommendation- A recommendation that is mindful to any disbursement, investment or communication policy under Legacy Global's policies. Mindful recommendations suggest avoiding recommendations to parties that are on the council or engaged in for-profit activities linked to the fiscal sponsorship. Mindful recommendations aim to avoid issues related to private inurement and quid pro quo, ensuring they are offered at fair market value and to qualified recipients. These recommendations prioritize honesty and transparency, devoid of any concealed motives.

As a recognized 501(c)(3) charitable organization, it is Legacy’s sole responsibility to assess recommendations for their charitable authenticity, ensuring adherence to IRS guidelines. Given that council members may recommend activities such as grants, investments, and expenses, Legacy retains the exclusive authority to either approve or decline any recommendation.

1. Communication and Engagement

During your collaboration with Legacy to fulfill the fiscal sponsorship’s charitable initiatives, you may find that occasional updates or ongoing communication are necessary to ensure the fiscally sponsored program remains fully compliant and aligned with Legacy Global's objectives. Rest assured, Legacy is readily available throughout the week to address any ongoing recommendations and facilitate communication as needed. It is important for council members of a fiscally sponsored program to actively participate in this communication process until the activity is successfully concluded.

Your continued engagement and open dialogue play a crucial role in the seamless execution of any recommended activities. Without this ongoing communication and commitment, our team may encounter challenges in effectively advancing the desired initiatives.

1. Disclosure of Activity

As ongoing activity within the fiscally sponsored program may continue, it is important to include Legacy in the new activity that you are considering recommending. As a council member of a fiscally sponsored program, it is the council's responsibility to never make commitments, sign agreements, or engage in any activity on behalf of the fiscally sponsored program without discussing with your appointed account manager at Legacy Global.

Your proactive disclosure of any upcoming activity or discussions ensures transparency and alignment with Legacy's objectives, safeguarding the program's integrity and compliance. By fostering this open communication, we can navigate challenges effectively and maximize the impact of our charitable endeavors.

As a council member, it's vital to adhere to responsibilities such as making mindful recommendations, maintaining open communication, and disclosing any upcoming activities. Your commitment to these principles ensures transparency, integrity, and the effective execution of our shared charitable initiatives. Thank you for your dedication, which strengthens our collective impact and furthers our mission to make a positive difference in the world.