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fiscal_sponsorship [2012/05/13 06:52] wreality created |
fiscal_sponsorship [2017/04/05 00:38] (current) |
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Information about fiscal-sponsorship from school factory: https://atrium.schoolfactory.org/spacefed/sponsorship | Information about fiscal-sponsorship from school factory: https://atrium.schoolfactory.org/spacefed/sponsorship | ||
- | Why we need to consider this: | + | Why we need to consider this/Pros: |
- Amazon Payments (Kickstarter) requires us to have 501(c)(3) status. | - Amazon Payments (Kickstarter) requires us to have 501(c)(3) status. | ||
- School factory could act as our liason for this. | - School factory could act as our liason for this. | ||
- Businesses and larger donors may be more comfortable than waiting for our exempt status | - 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. | - 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) | ||
+ | |||
+ | Cons | ||
+ | - 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(c)(3) status, just helps us in the interim. | This doesn't replace our own need/desire to get 501(c)(3) status, just helps us in the interim. | ||
- | We already know that anything that's donated within 27 months of our incorporation is exempt once we get our determination approved. | + | 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. |