Together, We Can Accomplish Anything
Baseball enthusiasts used the Foundation’s fiscal-sponsor services to build Eden Prairie Miracle Field.
Are you a part of a group that wants to do good work in Eden Prairie? Is not having nonprofit status holding you back? The Eden Prairie Community Foundation can help you start, whether you’re planning a one-off project or want to establish an organization.
What is Fiscal Sponsorship?
One of the roles of the Eden Prairie Community is “fiscal sponsor.” This is a formal arrangement in which a 501(c)(3) public charity like the Community Foundation sponsors a project or organization that may lack tax-exempt status. This alternative to starting your own nonprofit allows you use the Foundation’s tax-exempt status when seeking donations.
Fiscal sponsorship can be of short duration, such as when local baseball enthusiasts used the Foundation to build Eden Prairie Miracle Field, a ball diamond specifically designed to be used by disabled persons. Or, a fiscal sponsorship can be ongoing, such as Marilyn’s TWOcan keeping a fund at the Foundation indefinitely so it can provide accessible bike rides to seniors, year after year.
What Happens to My Funds?
With fiscal sponsorship, the Foundation holds funds on your behalf. The Eden Prairie Community Foundation has an annual audit, so you can feel confident your funds are in a safe place. Plus, the Foundation also offers some administrative services in its role as fiscal sponsor, such as issuing receipts and thank-you notes to your donors.
To cover audit and administrative expenses, we charge a small fee for organizations using the Foundation as a fiscal sponsor. This fee typically is 1% or 2% of the fund.
What People are Saying about Working with EPCF
Here’s what David Espe, one of the Eden Prairie Miracle Field organizers, said about using EPCF as its fiscal sponsor:
“From the very beginning of the Miracle League Field project, Mark Weber and the Eden Prairie Community Foundation stepped forward and offered their help. They have handled all of our electronic and manual donations, including interfacing with our ‘Buy a Brick’ vendor to ensure a smooth transaction process as well as sending out thank-you notes for all donations. In working with the Foundation, we didn’t have to set up a 503b or bank account – The Foundation did all the work for us, so we could focus on our mission: raising funds and building the Miracle League Field! They have been a tremendous partner, and I couldn’t be more pleased with their service and support.”
Contact Us About Fiscal Sponsorship
Contact [email protected] for more information about fiscal sponsorship and the Foundation’s policies and guidelines. If your project is a good fit, we can implement a fund agreement and start your project! Or, download our one-pager covering fiscal sponsorships: Fiscal Sponsorship with the Eden Prairie Community Foundation