Billings Community Foundation offers services that help individuals and groups performing charitable services start, grow, and achieve important community gains without delay and red tape. By extending legal, corporate, and fiscal sponsorship to new projects, Billings Community Foundation allows them to operate under the auspices of a fully qualified tax-exempt public charity.
Though fiscal sponsorship is sometimes described as a purely administrative relationship, at the Billings Community Foundation (BCF), it is a tool for providing support, building capacity, and creating community for new and exciting projects!
We processes all donations for the individual projects, files appropriate paperwork with government agencies, sees to paying all related bills of the project, issues tax-receipts to donors and maintains a professional office while the project is under contract with us!
We handle all the back office work, so the project supporters’ time is freed up to focus on their important mission! Let us know how we can help sponsor your next charitable project!
Benefits of having a Fiscal Sponsor:
All accounting is done in house for minimal fee of 4-10% of project revenue.
Recognition as a nonprofit entity under BCF’s fiscal sponsor umbrella.
Updated financial reports (profit & loss statements) available quarterly or as requested.
All federal and state tax filings (990s and 1099s) handled.
Thank you letters/tax receipts to donors for donations.
Ability to accept donations by check, cash, or credit card.
Ability to apply for grants.
Existing systems in place to teach project leaders the responsibilities and limitations of non-profits.
Exposure for your project via the Foundation website, newsletters, annual report, and other publicity materials.
Networking of projects to promote collaboration and resource exchange.
With the help of the Billings Community Foundation staff, project applicants are asked to complete a proposal for project sponsorship and a projected budget. When the project leader, in consultation with Foundation, decides that the project application is complete and ready for consideration, it is rigorously reviewed by Billings Community Foundation staff, board members, and community advisors.
We invite the leaders of projects that are strong candidates for fiscal sponsorship to meet with the board, briefly present their project, and answer questions.
Final determination of sponsorship is made by the full board of Billings Community Foundation with the following considerations:
Project’s goals, methods, and clear understanding of community needs.
Project leadership ability to attract contributions to fund it.
Project leadership experience and capability.
Project concept and fit with the Billings Community Foundation’s mission.