Fiscal Sponsorship from Film Arts Foundation

In the simplest terms, "Fiscal Sponsorship" is one entity accepting and managing funds for another.

At Film Arts Foundation, Fiscal Sponsorship is used primarily when a non-profit film/video project or event wants to secure funding from foundation, government, corporate or private sources that give only to nonprofit organizations with IRS tax-exempt status. To be considered exempt, an organization must hold a current 501(c)(3) certificate from the IRS. Any donations are then tax-deductible to the fullest extent allowed by law.

Rather than attempt to secure tax-exempt status for a film/video project or production company (a lengthy, involved and costly process), individual filmmakers may contract with a fiscal sponsor to extend tax-exempt status to that specific project.

As a fiscal sponsor, Film Arts collects all funds for a project, redistributes the funds as necessary, keeps a separate ledger for all funds accepted for the individual's project, and makes records of such transactions available to those who might require it. Film Arts maintains these records in the form of account status reports and other disclosures required by grant guidelines and/or federal law. Film Arts Foundation has a lengthy history and reputation as a fiscal sponsor and many foundation and government entities are familiar with our program.

According to standard principals and law, projects contracted with a fiscal sponsor must be consistent with the fiscal sponsor's charitable purposes. In terms of Film Arts, this means that all projects must be noncommercial and represent an imaginative contribution to the film or video art form.