Fiscal Sponsorship
Africa Centre offers fiscal sponsorship to select Colorado-based projects that fit our mission and criteria. We offer this service as a way to further our mission of positive interactions with African culture, to help local projects do more and be more effective, and to help fund Africa Centre services. We reserve the right to select or reject projects, and revise this policy at will. Please review this information with your group, then submit an application to be considered.
What is Fiscal Sponsorship?
If you are working on a project, but are not affiliated with a 501c-3, a fiscal sponsor can accept tax-deductible donations on your behalf.
What is a Project?
A 'project' is a group of people working on a specific cause. We provide all kinds of resource to select projects: including identification and coordination, travel planning and coordination, consulting, and/or fiscal sponsorship .
What types of projects qualify for Fiscal Sponsorship?
Examples of current Africa Centre fiscally sponsored projects include the following. You can donate online now to these projects:
- BaoBao Festival
- Christ Family Academy
- Ghana Opportunity Fund
And recent projects:
- Hope Again Uganda Children Soldiers Conference
- Books for Africa
- West African BaoBao Festival
What are the benefits of Fiscal Sponsorship?
The first question most potential donors ask is, "Is it a tax-deductible donation?" As a fiscally-sponsored project of Africa Centre, you can answer "Yes!". The benefits for fiscally-sponsored projects of the Africa Centre include:
- ability to increase donations by being able to receive tax-deductible donations
- work with you to provide donation receipts for your donors
- listing your project on our website
- online donation button for your website and ours
What are the project requirements for Fiscal Sponsorship?
At the Africa Centre, our reputation for financial integrity and accountability is a primary focus. If you want to participate as a fiscal sponsor, your project must meet strict criteria:
- Be a Colorado-based effort (key project members live in Colorado)
- Fit our mission
- Provide documentation about your project
- Have a financially accountable entity to receive the funds
- Have a bank account registered as a non-governmental organization, school, church or other official account. (Funds will not be wired to an individual person's bank account.)
- Comply with our financial accounting requirements
- Participate in an annual fundraiser by providing entertainment, catering, venue, marketing, accounting or other services.
What fees are charged for Fiscal Sponsorship?Africa Centre accepts donations on behalf of the fiscally-sponsored project. By doing so we take on the responsibility for tax-deductible accounting. In exchange for our services, and associated accounting and legal fees we incur, we charge the approved project:
- $75 enrollment fee
- 5% of donations
- Wiring fees for transferring money to the recipient
What are the steps toward Fiscal Sponsorship?
1. Apply for consideration for fiscal sponsorship
- Review the application with your group
- Ensure that the group understands the benefits and fees
- Assign a primary and secondary point of contact
- Submit the application (soon to be online)
2. Sign contract & submit application fee
3. Collect donations made out to "Africa Centre"
4. Follow financial reporting guidelines
5. Advertise your project as a "Project of the Africa Centre"
6. Participate and contribute resources to our annual fundraising event
7. Semi-annually through contact with your mailing list: Describe Africa Centre's fiscal sponsorship of your project and recommend subscribing to Africa Centre mailing list.
8. Participate in an annual review to determine applicability of renewal. Africa Centre reserves the right to grant or deny Fiscal Sponsorship at will.
Questions?
Contact info@africacentre.org