Simple English definitions for legal terms
Read a random definition: nundinae
A fiscal sponsor is a special type of non-profit organization that helps other people or groups who want to do good things but don't have their own non-profit status yet. The fiscal sponsor shares their legal and tax-exempt status with the other group through a special agreement.
A fiscal sponsor is a non-profit organization that provides its legal and tax-exempt status to another person, group, or entity through a contractual agreement. This allows the sponsored entity to receive tax-deductible donations and grants, as well as access to other resources that may not be available to them otherwise.
These examples illustrate how a fiscal sponsor can help individuals or groups achieve their goals by providing them with the legal and financial support they need. By partnering with a fiscal sponsor, they can focus on their mission and activities without having to worry about the administrative and legal aspects of running a non-profit organization.