Fiscal Sponsor Agreement Template

A fiscal sponsor agreement template is a legal document that outlines the relationship between a fiscal sponsor and a sponsored project. In the nonprofit world, a fiscal sponsor is an organization that agrees to provide administrative support and oversight for a project that is not yet a standalone nonprofit.

This agreement serves as a contract between the fiscal sponsor and the sponsored project, detailing the roles and responsibilities of each party, the terms and conditions of the sponsorship, and outlining the scope of the project. A fiscal sponsor agreement also helps to ensure that the sponsored project complies with tax and legal requirements and maintains its nonprofit status.

A typical fiscal sponsor agreement template includes the following sections:

1. Introduction: This section includes the names and contact information of the fiscal sponsor and the sponsored project.

2. Purpose: This section outlines the purpose of the sponsored project and how the fiscal sponsor will help the project achieve its goals.

3. Responsibilities: This section lists the duties and responsibilities of both parties, including financial management, fundraising, reporting, and compliance with laws and regulations.

4. Term and Termination: This section explains the duration of the agreement and the circumstances under which it can be terminated by either party.

5. Intellectual Property: This section specifies how the ownership and use of intellectual property created by the sponsored project will be handled.

6. Indemnification: This section outlines the obligations of the parties to indemnify and hold harmless one another from any claims, damages, or losses arising out of the agreement.

7. Governing Law: This section specifies the law that will govern the agreement.

8. Signatures: This section contains the signatures of both parties, indicating their agreement to the terms of the fiscal sponsor agreement.

In conclusion, a fiscal sponsor agreement template is a crucial document for any nonprofit organization that is just starting and seeks fiscal sponsorship. This agreement helps to clarify the relationship between the fiscal sponsor and the sponsored project and ensures that both parties are aware of their roles, responsibilities, and obligations. If you do not have a fiscal sponsor agreement yet, then it is highly recommended that you consult an experienced attorney or accountant to help you draft one that is tailored to your specific needs.