A Collaborative Approach to Fiscal Sponsorship
Fiscal sponsorship is a partnership offering a comprehensive platform of shared services to mission-based organizations and to foundations seeking financial oversight for their program investments. We take a collaborative approach to fiscal sponsorship by offering professional financial management and administrative services, legal compliance, and access to a variety of consulting services, training, and leadership development programs. And we do so with a diverse and passionate team that cares about building an organization’s capacity.
Focus on the Mission and Vision
Through a shared services model, we provide fiscal sponsorship services across the nonprofit sector. Services include financial, contract and grant management, legal, human resources (payroll and benefits), and other business and administrative services to a range of charitable initiatives that support the operations and infrastructure of nonprofit organizations so they can focus on their mission and vision.
The decision to partner with us and become a fiscally-sponsored organization is crucial to ensuring organizations have the support they need to thrive. We’re excited and motivated to help organizations make this decision and reach their goals.
Human Resources Management services:
- Strategic human resources planning
- Benefits administration
- Payroll administration, time & attendance, tax filing
- Recruitment management
- Onboarding and offboarding
- Employee relations
- Human resources risk management
- Employment policies and procedures development and
- Labor laws and regulations compliance and reporting
- Employment verification
- Performance management
- Compensation strategy and plan design
- Training and development
- Employee data management
- Coaching and consulting
- Internship and volunteer program design
- HR forms and templates
Financial Management services:
- Revenue and expense accounting
- Cash flow projections and assistance
- Grants and contracts management
- Monthly financial statements and reports
- Purchasing and bill payment
- Corporate financial audits and sub-audits for an additional fee
- Annual budgeting
- Grant Proposal Budget Development
- Assistance with grant proposal submissions
Compliance and Risk Management services:
- General compliance
- Insurance coverage (additional insurance coverage beyond TSNE’s standard insurance offerings at FSO’s expense)
We work collaboratively with our fiscally-sponsored organizations while maintaining clear roles and responsibilities for both the sponsor and the fiscally-sponsored organization. As the fiscal sponsor, TSNE is responsible for acting as the legal entity and provides governance through its board of directors, a requirement of all nonprofit organizations. Fiscally-sponsored organizations have advisory boards which focus on financial supervision of the FSO’s Project Director, financial planning for the organization, and support with fundraising.
This means TSNE ensures that the organization’s activities meet all relevant legal requirements and maintains final decision-making, in partnership with the organization, over financial, legal, and human resources matters. The fiscally-sponsored organization or the organization under sponsorship is responsible for understanding and conducting ethical business practices consistent with IRS regulations, all applicable laws, funder restrictions, and TSNE’s policies and procedures.
How to Apply for Fiscal Sponsorship
We’re excited to read your application for fiscal sponsorship. Please note that applications can be declined or deemed ineligible at any point during the application process. Learn about our application process and our eligibility criteria.
Step 1: Submit Inquiry Form
Once you’ve filled out an inquiry form. You’ll receive a brief eligibility survey from us to determine if our fiscal sponsorship opportunities will meet your needs.
Step 2: Submit Eligibility Survey
If you’re eligible for fiscal sponsorship at TSNE, you’ll be prompted to schedule a call with our team.
Step 3: Complete Intake Call
A member of our Client Intake Team will get in touch with you to discuss your inquiry form submission.
Step 4: Submit an Application
If you and the Client Intake Team agree that fiscal sponsorship with TSNE might be a good fit, you’ll receive an application to apply.
Step 5: Application Review
Once we receive the completed application our Application Review Committee begins their review. Please note, the average time frame for applications for fiscal sponsorship at TSNE is 2–3 months. We may reach out for additional information and/or questions during this time.
Step 6: Virtual Meeting
Ahead of this meeting, our Application Review Committee will share thoughts and questions about your application that will be answered in a virtual meeting. This is also an opportunity for you to ask any questions you might have. Our team will reach out to schedule this meeting.
Step 7: Application Review by the Senior Review Committee
Your application will be reviewed by our Senior Review Committee for an approval decision.
Step 8: Additional Approvals
If your application is approved by our Senior Review Committee, your application will go to the CEO and then our board of directors to be voted on for fiscal sponsorship approval.
Our Core Role and Responsibilities as a Fiscal Sponsor are to:
- Provide fiduciary, legal, compliance, and ethical accountability as the legal entity
- Retain control and discretion of the use of funds, maintaining records demonstrating that funds were used for 501(c)(3) exempt purposes and according to funder requirement(s)
Establish and maintain processes that promote robust communication between TSNE and the sponsored organization. Ongoing communication between TSNE and the sponsored organization is critical to ensuring that the partnership goes smoothly and that any challenges that arise are resolved quickly
Work in collaboration with the fiscally sponsored organization using a team-based model to deliver shared administrative financial management, human resources management, as well as compliance and risk management services
Our Fiscally-Sponsored Organizations
As the first fiscal sponsor in the country, we provide financial, grants and contract management, human resources, and other business and administrative services to organizations at economical rates. We steward more than $44 million in project funds and manage compensation and benefits for 50 projects with 356 employees in 26 states. Since our inception, we’ve fiscally sponsored upwards of 300 nonprofit organizations working across various communities to create a more just society.