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This document serves as an agreement between a fiscal sponsor and a sponsored organization, outlining the responsibilities of the fiscal sponsor in monitoring the funded project and ensuring compliance with eligibility requirements set by the Community Foundation of Western Massachusetts.
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What is proof of fiscal sponsorship?
Proof of fiscal sponsorship is a documentation that verifies the financial and tax-exempt status of an organization that receives funds on behalf of a project or individual, ensuring compliance with IRS regulations.
Who is required to file proof of fiscal sponsorship?
Organizations or individuals that are receiving funds through a fiscal sponsor, typically non-profit entities, are required to file proof of fiscal sponsorship to demonstrate their financial structure and compliance with tax regulations.
How to fill out proof of fiscal sponsorship?
To fill out proof of fiscal sponsorship, one must provide details about the fiscal sponsor, including tax identification number, contact information, and the specific project or individual being sponsored, along with financial information as required.
What is the purpose of proof of fiscal sponsorship?
The purpose of proof of fiscal sponsorship is to provide transparency and accountability in the financial management of charitable funds, ensuring that contributions are used appropriately and in compliance with tax laws.
What information must be reported on proof of fiscal sponsorship?
Information that must be reported on proof of fiscal sponsorship typically includes the names of the sponsoring organization and sponsored project, tax-exempt status verification, financial reports, and any relevant agreements between the parties.
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