Fiscal Sponsorship Program
What Is Fiscal Sponsorship?
NYWIFT's fiscal sponsorship allows filmmakers to access foundation and government grant funding that may only be accessible to nonprofit organizations or fiscally sponsored projects. It also provides the incentive to donors that their contribution to the project is a charitable deduction for income tax purposes.
This program does not fund film projects. Instead, NYWIFT acts as a nonprofit umbrella organization for filmmakers and videomakers who are seeking to raise funds and require nonprofit status to do so. Funds raised by project directors is directed to NYWIFT who administers and disburses those funds back to project directors.
There is no application fee. NYWIFT takes an administrative fee of 7% for the first $100,000 raised and 5% for any funds over $100,000.
How to Apply
Applications are accepted on an ongoing basis. There is no deadline.
Submit a one- or two-page project proposal or treatment, a budget and the bios of key personnel. Please designate a single project manager who will be responsible for requesting funds and reporting to NYWIFT. Email your proposal to fiscalsponsorship@nywift.org Your application will be reviewed within one week. If your application is accepted, you will be sent a contract within one week. Checks should be made out to NYWIFT. Make sure to put the project name in the memo portion of the check.
Checks should be sent to:
New York Women in Film & Television,
6 East 39th Street, New York, NY 10016.
Contract
The contract outlines the relationship between NYWIFT and the project director, and sets reporting requirements. In the contract the project director warrants that the materials used in the project are not breaching any copyright and indemnifies NYWIFT against any legal actions that might arise out of any copyright issues.
The contract also indicates that NYWIFT has full discretion and control over the use of contributions received. If a project no longer complies with NYWIFT's charitable and educational purposes, NYWIFT has the right and responsibility to return or redirect funds.
Reporting
Project directors are required to submit regular reports on the progress of their projects. Reports are submitted annually for projects spending under $100,000 in a given calendar year. For projects spending more than $100,000 in a single year, reports are required to be submitted for each $100,000 spent. Project directors are also required to submit any reports due to contributors.
How Funds Are Dispersed
Project directors submit requests for reimbursements or advances. Reimbursement requests must be accompanied by receipts.
Detailed plans for the use of advances are required, including proposed budget line items. Receipts, payroll records and complete financial reports must be submitted for expenditures of advances. No additional advances will be made until all required reports are submitted. At least $100 or 10% of funds raised is held by NYWIFT until all reports and receipts have been submitted. A Fiscal Sponsorship Report will be sent to the project's director on Thursdays of every week stating the project's balance.
Credit
NYWIFT receives appropriate credit for serving as fiscal sponsor, and will also have the right to remove its name from any production.
If you have questions regarding fiscal sponsorship, call Easmanie Michel at 212-679-0870, ext. 39.
Indiegogo Partnership
NYWIFT has partnered with Indiegogo in an aim to continue supporting our filmmakers in their fundraising efforts. Indiegogo provides an online platform for funding campaigns.
What does this mean to you? When you launch a crowdfunding campaign with Indiegogo your donors can get a tax deduction through NYWIFT. This encourages more people to donate and sometimes even to donate more!
- This opportunity is open only to projects that are already fiscally sponsored through NYWIFT.
- Go to the Indiegogo website and follow the steps to create a campaign. We recommend that you read through its crowdfunding field guide.
- Notify NYWIFT staff in advance if you are planning a fundraising campaign on IGG and you want it linked to us. Once you are almost ready to launch we will inform IGG and they will link your campaign to us.
- Include in the body of our pitch: “Donations are tax-deducible through our fiscal sponsor New York Women In Film & Television (NYWIFT).”
- The NYWIFT/IndieGoGo fee is 7% (same as your regular fiscal sponsorship fee). Through this partnership between NYWIFT and Indiegogo the total fee is 7%, whether you reach your goal or not.
- Third party payment processors such as PayPal charge an additional fee of about 3%. The PayPal fee is separate from our 7% fee.
- We help you promote your campaign on Facebook and Twitter.
- We send acknowledgement letters for tax purposes only for donations of $250 and higher. You are responsible for sending your own thank you notes to all your donors.
Last updated: Feb. 28, 2013 