The power of fiscal sponsorship agreement template is an often-overlooked option for autism-related organizations looking to make an impact in their local communities. It provides the framework for legal compliance, access to funding, and administrative support so they can concentrate on their main objectives.
Singapore, with its large population of residents diagnosed with autism, could benefit immensely from any organization that encourages awareness and support for individuals with autism. By integrating a fiscal sponsorship agreement template into Autism Network Singapore (ANS), we can provide support for individuals with autism, while also reaping many additional benefits.
Fiscal sponsorship is a win-win for both parties. Under a fiscal sponsorship agreement, ANS could be eligible for grants, reduced overhead costs, staff training, and a major boost in overall community support. Regardless of the type of fiscal sponsorship agreement, also known as a joint venture agreement, there are countless advantages that ANS could take advantage of:
With a secure legal framework, joint venture agreements ensure that all parties remain compliant with state and federal rules. It’s a prerequisite for 501(c)(3) tax exemption. For ANS, this means they can focus on the strategic aspects of their autism advocacy work rather than legal compliance. With proper oversight from a fiscal sponsor, everything makes sense under a clearly defined governance structure.
There’s one thing that many autism advocacy groups struggle with: funding. For ANS, the primary sources of funding would come from non-profit organizations, private entities, and government agencies. Under a joint venture agreement, ANS will have unrestricted access to these resources.
Under a fiscal sponsorship agreement, small non-profit organizations can focus on what really matters – on-the-ground implementation. ANS will have access to the resources they need to improve the quality of life for individuals with autism.
Partnerships are at the core of every grassroots initiative. For ANS, this means nothing less than success. Whether you’re expanding your organization, operating in a new state, or starting a new program, fiscal sponsorship agreements help you foster partnerships, collaboration, and support.
We’re not the only ones touting the benefits of fiscal sponsorship. The movement has been embraced by some of the most well-respected non-profit organizations on the planet, including:
A fiscal sponsorship agreement template is drafted when the two parties agree to work together within a specified time period. These documents should specify the scope of the relationship, duration, management structure, and additional requirements. They’re designed to facilitate a successful working relationship.
Simply put, fiscal sponsorship agreements benefit organizations in many ways. Here’s a closer look at 10 ways a joint venture agreement will benefit ANS:
Despite the many benefits, some organizations hit a major roadblock when entering into a fiscal sponsorship agreement. Additional research and due diligence are needed in some cases to ensure both parties are the right fit and that the organization will be able to benefit the most from the arrangement.
Under New Hope, the fiscal sponsor receives additional control of the funds despite the fact that no administrative fee is charged at the legal entity level. It’s the fiscal sponsor that determines how the funds are disbursed and if additional oversight is needed.
It’s up to each organization to decide which type of fiscal sponsorship agreement is most appropriate. We recommend consulting with a qualified expert to determine the best path forward for your organization.
For more information on fiscal sponsorship, you can visit Wikipedia.