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501c3 nonprofits can ‘fiscally sponsor’ projects that are too small for their own nonprofit but still need all the same legal/accounting/finance support. Some
by mikeyouse 2y ago
501c3 nonprofits can ‘fiscally sponsor’ projects that are too small for their own nonprofit but still need all the same legal/accounting/finance support. Some of that $6M in their checking account will ‘belong’ to the projects they are sponsoring. Basically like a nonprofit incubator.
- rhysmp 2y agoI work at Hack Club on our fiscal sponsorship team and wanted to clarify something: each fiscally sponsored organization has its own account, with funds stored and represented separately on the HCB platform. You can check out some of these nonprofits and their transparent finances at this link: https://hackclub.com/fiscal-sponsorship/directory/ https://hackclub.com/fiscal-sponsorship/directory/