Non Profit Partnership Guidelines

Summary

Non-profits can partner with charitable organizations with different fiscal sponsors for grant applications, ensuring compliance with IRS regulations. Define roles, responsibilities, and financial arrangements clearly. Newly established non-profits should prepare documentation like business plans and budget projections. Fiscal sponsors can share financial documents and board resolutions with sponsored projects for transparency and compliance.

Full Conversation

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Sure! When forming a partnership agreement between a non-profit and a charitable organization with a different fiscal sponsor for a grant application, consider the following:
- Define roles and responsibilities.
- Ensure compliance with IRS regulations.
- Clearly outline financial arrangements.
- Specify the grant's purpose and usage.
- Establish a conflict resolution process.
Do you need more detailed information on any of these points?
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It sounds like you need more detailed information on forming a partnership agreement for a grant application. Here are some specifics:
- Define Roles and Responsibilities:
- Clearly state what each organization will contribute.
- Assign specific tasks to each party.
- Ensure Compliance with IRS Regulations:
- Verify that both organizations maintain their tax-exempt status.
- Follow all reporting requirements.
- Clearly Outline Financial Arrangements:
- Detail how the grant funds will be distributed and used.
- Establish a budget and accounting procedures.
- Specify the Grant's Purpose and Usage:
- Align the grant application with both organizations' missions.
- Ensure the grant's purpose is clearly documented.
- Establish a Conflict Resolution Process:
- Decide on methods for resolving potential disputes.
- Include mediation or arbitration clauses if necessary.
Do you have any specific questions about any of these points?
non-profit is a newly established organization with no financial statements
If your non-profit is newly established and has no financial statements, it's important to prepare as much documentation as possible to show your organization's legitimacy and operational plans. Consider creating a business plan, budget projections, and any relevant documentation to support your grant application.
Would you like more information on how to establish these documents for your non-profit?
can fiscal sponosr share financial documents an board resolution with a newly established non profit
Yes, a fiscal sponsor can share financial documents and board resolutions with a newly established non-profit, as long as both parties agree and it's necessary for transparency or fulfilling grant application requirements.
Do you need guidance on how to request these documents from your fiscal sponsor?
can a fiscal sponsor share it's bugdet, financial documents and board resolution with a sponsored project
Yes, a fiscal sponsor can share its budget, financial documents, and board resolutions with a sponsored project. This can help ensure transparency and compliance with grant requirements.
Do you need advice on how to formally request these documents from your fiscal sponsor?