Fees are based on income, starting at $1500/year. Thousand Currents essentially acts as a quasi-manager for Black Lives Matter: It provides “administrative and back office support, including finance, accounting, grants management, insurance, human resources, legal and compliance,” Lemma said. For example, when you donate to the Black Lives Matter movement, you are directed to its fundraising partner ActBlue. A fiscal sponsor receives donation money on the non-profit’s behalf, and decides how and where the money is spent, according to Internal Revenue Service requirements.

All Rights Reserved. The most widely used models of fiscal sponsorship for charitable projects are: 1. Rethink Priorities is now a thriving 501(c)(3) charity that benefited immensely from launching under fiscal sponsorship with Rethink Charity. I feel more confident knowing I can get my fiscal questions answered, and that I can seek funds strengthened by trustworthy reports and effective on-line tools. This service is ideal for emerging or established artists with project-specific fundraising needs. In an emailed statement to Insider, Lemma said, “Donations to BLM are restricted donations to support the activities of BLM.” Black Lives Matter Global Network Foundation did not respond to Insider’s requests for comment about whether or not it plans to apply for tax-exempt status.

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Because Black Lives Matter does not have its own tax-exempt status, donations filter through various channels before resources are dispensed across BLM’s 16 chapters. I feel more in touch with my CREATIVE work knowing that my ADMIN work is being managed so rigorously as a result of my fiscal sponsorship.”, —Peter J. Harris | Director of Inspiration House, "FIA is unique in the New York City area for dance in that it allows you to accept earned and unearned income.".

Executive Director Solome Lemma said the Black Lives Matter Global Network Foundation approached Thousand Currents in 2016 to create a fiscal sponsorship agreement and provide “the legal and administrative support to enable BLM to fulfil its mission.”. which gives artists the ability to receive tax deductible donations, apply for foundation grants, as well as other nonprofit benefits, such as discounted rehearsal space. The 100,000 Opportunities Initiative is one of the largest employer-led coalitions in the U.S. focused on opportunity youth—the 4.5 million young people aged 16-24 who are out of school, ready to work and filled with potential. The 100,000 Opportunities Initiative connects these promising young people with more than 55 nationwide companies seeking to build their talent pipeline. Fiscal sponsorship generally entails a nonprofit organization (the “fiscal sponsor”) agreeing to provide administrative services and oversight to, and assume some or all of the legal and financial responsibility for, the activities of groups or individuals engaged in work that relates to the fiscal sponsor’s mission. Fiscal sponsorship generally entails a nonprofit organization (the “fiscal sponsor”) agreeing to provide administrative services and oversight to, and assume some or all of the legal and financial responsibility for, the activities of groups or individuals engaged in work that relates to the fiscal sponsor’s mission. “FIA has been a godsend in keeping doug elkins choreography, etc. This blog is a simple overview of who might want to have a fiscal sponsor and who might become one. NPT serves as the comprehensive fiscal sponsor for the 100K Initiative.

“Pentacle provides artists with a space where they are valued and supported financially as well as administratively. New projects. In 2018, one of its New York City chapters left the organisation citing its need for more monetary autonomy.

Lending both operational and strategic expertise, NPT works with project leaders to customize the best support system to achieve their charitable goals. NPT is proud to have hosted donor collaboratives for more than 15 years. Using our team of in-house experts, NPT provides fiduciary oversight and absorbs most of the risk involved in launching a new charitable project, so that the project leaders can focus on its mission.
Please see Privacy Policy for more information. Unique plus offers fiscal sponsorship plus a bookkeeping service. Artists work with a dedicated  administrator to clearly, reliably, and efficiently process their donations and send acknowledgments on their behalf. This type of tax arrangement is typically used by newer non-profits on a project basis while they fundraise and apply for their own tax-exempt status. Unique projects is our basic sponsorship program which gives artists the ability to receive tax deductible donations, apply for foundation grants, as well as other nonprofit benefits, such as discounted rehearsal space. Here's what it was like. In this case, Black Lives Matter agreed to make a donation to grassroots efforts led by Thousand Currents.

Your donors will give money to your sponsor, noting that the funds are for your project.

But organisations like Black Lives Matter can team up with and borrow another non-profit’s tax-exempt, 501(c)(3) status, known as a fiscal sponsorship, while building out its own structure. Expanded Coverage Module: black-lives-matter-module. The Fiscal Sponsorship program is a legal and financial mechanism by which IFP, a 501(c)(3) non-profit organization, serves as a conduit for financial resources and provides some support and oversight for independently produced film projects. “The one who is borrowing status cannot direct where the money goes,” Phillips Erb said. Using our team of in-house experts, NPT. However, the process is a significant undertaking: the application may take between 20 and 100 hours to complete [1][2][3]. In our personal experience, the 501(c)(3) application process for the Rethink Charity, with assistance from an experienced legal team, cost several thousand dollars, required roughly 20 – 30 hours of work, and incurred a processing time of 10 months. I moved to the US from China — here are the biggest cultural differences I've noticed between the 2 countries, Bath & Body Works is now a standalone company — we visited a store and saw why it's been L Brands' secret weapon, CBA and NAB pass on RBA interest rate cut in full, but ANZ and Westpac defy Treasurer Josh Frydenberg's orders, How to watch Netflix on your TV in 5 different ways, The incredible story of Ferrari's 72-year journey from an upstart racing team to a $27 billion luxury brand.

taking on the responsibility of receiving and administering charitable contributions on behalf of the sponsored organization Fees for Unique projects are the lowest for individual artists in New York City, starting at 5.5% of income. So Black Lives Matter has a fiscal sponsorship set up with the 501(c)(3) non-profit organisation Thousand Currents.

“Rethink Charity” is represented by several non-profit organizations in the US and Canada, including Rethink Charity USA (EIN# 82-5325150), the Students for High-Impact Charity Foundation of Canada (BN 75152 2293 RC0001), and Rethink Charity Foundation (BN 793187881 RR 0001). The Best Snapchat Games To Play Right Now, Disable UPnP On Your Wireless Router Already, This Android Wallpaper Can Brick Your Phone, Visit Insider’s homepage for more stories, when you donate to the Black Lives Matter movement, citing its need for more monetary autonomy, Give us your thoughts on these small business practices to win a $250 Westfield gift card, Overcrowded animal shelters in the US Virgin Islands are sending hundreds of dogs and cats to the continental US, How the only skywriter in Europe creates messages that can be seen for miles but disappear in minutes, Doing these 24 uncomfortable things will pay off forever, Yes, Apple just killed iTunes — here's what that means for your library of music, movies, and TV shows.

In between these two levels, artists can add bookkeeping services to Unique projects (Unique plus) or utilize our FIA fiscal sponsorship program on a single project basis (FIA projects).

It is ideal for artists in need of bookkeeping, insurance, and payroll services for a particular performance engagement or tour. It typically involves a fee-based contractual arrangement between a … In recent weeks, following the police killing of George Floyd, millions of dollars in donations have flooded into bail funds for protesters, Black-owned businesses, and the Black Lives Matter movement itself. In a fiscal sponsorship arrangement, the 501(c)(3) nonprofit organization ("sponsor") lends their tax-exempt status to an individual, unregistered group, or project ("sponsee") that does not have tax-deductible status, provided that the sponsee’s mission aligns with the sponsor's mission.