What Are the Advantages of Fiscal Sponsorship?
Fiscal Sponsorship gives your organization the benefits of non-profit status. By partnering with Emerald Diamond International, your organization will save time and money, so you can focus on running your team or league.
Benefits of Fiscal Sponsorship:
- Your organization can accept tax-deductible donations from individual donors and businesses.
- Your donors will receive tax receipts (we take care of the administrative work!).
- We can help you set up an online fundraising page.
- Planning a fundraising event? We can provide a free consultation to share best practices and ideas to make your event a success.
- Your organization may also apply for certain grants that require non-profit 501c3 status.
Save time
Applying for 501c3 nonprofit status is a time-consuming process. The application typically takes weeks to fill out and you typically won't get approved (or denied) for several months.
By comparison, the application process for our Fiscal Sponsorship program is quick and easy :
- Applying takes 15 minutes.
- We typically approve applications within 10 business days.
SAVE MONEY
Applying for 501c3 nonprofit status can be an expensive process, especially if you need to hire an accountant or attorney to set it up.
By comparison, our Fiscal Sponsorship program was developed to make it affordable for baseball organizations of all sizes:
- No cost to apply.
- $200 annual fee to cover setup and administrative costs.
- No fee for the first $2,000 of funds raised.
- Once you hit $2,000 of funds raised, there is a 10% fee to cover administrative costs associated with managing the program on your organization’s behalf.
What is the Total Cost to My Organization?
The total cost to your organization depends on the total amount of money raised.
For example:
- If your organization raises $1,500, the only cost is the $200 setup fee.
- If your organization raises $20,000, the total cost is $2,200 ($200 setup fee plus 10% of $20,000).
DONATION METHODS
Our Fiscal Sponsorship program allows you to receive donations in many ways:
- Credit Card
- Check
- ACH/Wire Transfers
- In-Kind Donations
How Does the Fiscal Sponsorship Program Work?
After your application is approved, your organization may begin accepting tax deductible donations. Checks are made out to “Emerald Diamond International” and can be sent directly to us. We deposit the money and distribute funds to your organization according to a pre-determined schedule, typically quarterly or monthly, depending on your organization’s needs.
Can Emerald Diamond International Help Us Raise Funds?
We can! We can set up an online fundraising page for your organization and we can offer advice and best practices on how to approach individual donors and local businesses for large donations.
We cannot help organize events (casino nights, raffles, hit-a-thons, etc.). However, you can organize those events yourselves and use the Fiscal Sponsorship program to make those donations tax-deductible.
The Fine Print
We strongly encourage you to consult your organization's attorney and accountant before applying to the Fiscal Sponsorship program.
Ready to Raise Some Funds?
Click the button below to apply!
Click Here to Apply for Fiscal Sponsorship