Fanapi Foundation is fiscally sponsored by the United Charitable (UC) – a registered 501(c)3 non-profit organization, tax ID #20-4286082, headquartered near Washington, DC., whose mission is to develop and support charitable programs with a local, national, or global focus. All donations are tax deductible to the extent of the law. Donors can click here or the “Donate” image above to access our online donation page to support any of our capacity-building programs and services.
What is a fiscal sponsor?
Fiscal sponsors are registered 501(c)3 nonprofit organizations that support small nonprofit programs that may not have the funds or staffing available to navigate the cumbersome world of getting registered through the IRS to achieve the all important 501(c)3 nonprofit status. Fiscal sponsors do not provide funding to nonprofit organizations, but the partnership is invaluable in that the sponsored program such as Fanapi Foundation is able to provide tax deductible options to donors as a 501(c)3 nonprofit status. – more info on the UC website.
Why does Fanapi Foundation need a fiscal sponsor?
As a start up nonprofit organization operated by an all-volunteer team, Fanapi Foundation wants to dedicate most (92%) of your donations to support our programs rather than on the administrative cost necessary to operate a full fledged nonprofit organization. By opting to be fiscally sponsored by UC, we are able to be transparent, cost-effective, and in full compliance of US federal laws governing nonprofit organizations. Essentially, UC provides the “nonprofit benefits without the burdens” which enables the Fanapi Foundation to focus on service delivery. In return, UC charges a mere 8% on all donations which is far less than if Fanapi Foundation were to hire its own staff. In other words, if you donate $10, UC will take 8 cents of it for the administrative fee and the rest ($9.92) will be dedicated to our programs.
What services are covered in the 8% administrative cost fee for UC?
The administrative fee covers the cost of labor hours needed for paying contractors and entering bi-weekly direct labor into payroll system, review and entry in accounting system, oversight of hiring and other human resource issues, fringe benefit management, state payroll tax filing, collecting W-9’s and issuing 1099’s for any contractors, annual audit and tax filings; accounting and oversight by controller, including but not limited to general ledger maintenance, producing quarterly financial reports, bank reconciliations; drawing down and receiving grant payments; input, review, approve, pay and mail out disbursements and reimbursements; maintain document files; phone support for onsite requests and all other activities as necessary for grant/contract work to be carried out.
In short, they do everything that the Fanapi Foundation does not have the expertise or funding to accomplish to enable tax deductible donations. It’s a great investment in ensuring that 92% of your contributions to our efforts are used for delivering the services and the 8% goes to UC to keep all of us in compliance with the federal government. We believe that this is a responsible management of your financial support.
How do I give to Fanapi Foundation?