It is crucial for the fiscal sponsor to comply with applicable regulations, including Generally Accepted Accounting Principles (GAAP, guidelines for financial accounting and reporting), and Circular A-133 (audit requirements for nonprofits). Is your fiscal sponsor financially sound and does it follow the appropriate standards of financial management, transparency, and integrity?įinancial principles of accountability, transparency, and integrity are the cornerstones of any fiscal sponsorship relationship. Mission alignment is a prerequisite for any fiscal sponsorship relationship.Ģ. Is there an alignment between your mission and your fiscal sponsor’s mission? of current officers, directors, etc.A useful and descriptive ten question summary of important questions to ask prior to applying for Entity Sponsorship, prepared by National Network of Fiscal Sponsors.ġ.
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