Fiscal Sponsorship at Goodnation Foundation

What does comprehensive fiscal sponsorship at Goodnation Foundation (GNF) look like?

Comprehensive fiscal sponsorship, also referred to as ‘Model A’ fiscal sponsorship, is a collaborative relationship where GNF (our fiscal sponsor) shares its 501(c)(3) status and back-office infrastructure with mission aligned groups including us. For the duration of the relationship, we legally operate as a program of GNF but retain our own identity and make our own strategic and day-to-day decisions. Through this relationship, we can accept grants and donations, enter into contracts, hire and provide benefits to our staff and otherwise transact business.  GNF also takes care of all tax filings, insurances, donor and regulatory compliance and provides us with timely financial reports. Importantly, our sponsor retains the discretion and control needed to ensure compliance with applicable laws and regulations.

Why do we use GNF as our fiscal sponsor?

Running a nonprofit is complex and time consuming. Through our partnership with GNF, we benefit from expert support in nonprofit financial management, compliance, human resources, risk management, and nonprofit operations. With the cost-effective nonprofit infrastructure GNF provides, we can better focus on our mission, strategies, and programs. We also share mission and values alignment with GNF. We are truly in this work together! 

Can we exit our fiscal sponsorship relationship?

Yes. This right is defined in our fiscal sponsorship agreement. If we elect to end the relationship, we’ll work with GNF to transfer our program and assets to a new nonprofit we form or to a different existing nonprofit.  

What’s a good resource on the basics of fiscal sponsorship?

Check out  https://www.socialimpactcommons.org/fiscal-sponsorship-101  

Where can you go if you have questions about our fiscal sponsorship relationship with GNF?

Please reach out to Meghan Zichelli, Goodnation Chief Operating Officer, at meghan@goodnation.io.