Information about fiscal-sponsorship from school factory: https://atrium.schoolfactory.org/spacefed/sponsorship
Why we need to consider this/Pros:
- Amazon Payments (Kickstarter) requires us to have 501©(3) status.
- School factory could act as our liason for this.
- Businesses and larger donors may be more comfortable than waiting for our exempt status
- Reputation. We're covering our bases while we obtain our own status.
- Buys us some time to do our 1023 right and think about how we want to answer some of the questions
- Specifically the part about acting as a granter to the clubs (if we even still want to do that)
- School factory takes 10% for admin costs
- This will hurt for kickstarter since there are already %'s involved there.
This doesn't replace our own need/desire to get 501©(3) status, just helps us in the interim.
Anything that's donated within 27 months of our incorporation is exempt once we get our determination approved, but some donors might be uncomfortable with that.