Fiscal Sponsorship Funds Dade Community Foundation serves as a sponsor of a charitable project lacking tax exempt status or an organization in the process of receiving its tax exempt designation. The Foundation receives dollars on behalf of the charitable project from different funding sources who will only make payments to charitable organizations. Dade Community Foundation serves as a fiscal sponsor on a case-by-case basis and after a review of the project's charitable purpose and specific development plans. Steps in establishing a Fiscal Sponsorship Fund
Sample Agreement
Flight Attendant Medical Research Institute, Inc. Fund The Flight Attendant Medical Research Institute was established as a result of a Class Action lawsuit brought by attorneys Stanley and Susan Rosenblatt against the tobacco industry. The settlement resulted in several major concessions by the tobacco industry including the establishment of this medical research institute and its mission: sponsoring study of the early detection, prevention, treatment and cure of diseases caused by exposure to tobacco smoke. Working with Dade Community Foundation, a fund has been established supporting the research of one of this Institute's Distinguished Professor award recipients as he is compiling critical information safeguarding public health.
Miami River Commission Fiscal Sponsorship There has been some good news on the Miami River lately. The formation of a Miami River Commission (MRC) to act as the official clearinghouse for river matters has renewed interest on the issues affecting the Miami River. For the first time in memory, elected officials, businesses, residents and other river stakeholders represented on the MRC are speaking with one voice. The new commission which evolved from a previous river entity known as the Miami River Coordinating Committee has generated additional support from federal officials for the clean up and dredging of the river - a long-standing issue. This federal support was evident during a recent river tour by Congresswoman Ileana Ros-Lehtinen where she announced a $5 million federal appropriation for the dredging of the river.
While awaiting designation as a 501 (c) (3) non-profit organization, representatives from the MRC contacted Dade Community Foundation to find out more about its fiscal sponsorships. After a review of their mission, which includes the priorities of river dredging, creating greenways, improving water quality, enforcement, disposing of derelict vessels and developing adjoining areas in a beneficial way, Dade Community Foundation entered into a fiscal sponsorship agreement with the MRC.
As part of the foundation's mission of building a more cohesive community, it offers Fiscal Sponsorship Funds to the vast array of groups and individuals that lack the tax status required to receive grants from many private foundations, government agencies and other funders. The fiscal sponsorship agreement allowed the MRC to apply for a county grant during a time of transition and while they awaited their official tax status designation. Captain Dave Miller, Managing Director of the MRC, commented, The involvement of the Dade Community Foundation ensured that our transition from committee to commission was a smooth one. It is great to have our local community foundation supporting our efforts to clean up the Miami River.
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