What is fiscal sponsorship?
Fiscal sponsorship is designed for women and filmmakers of color who are actively fundraising for their films, community programs, and live event productions, and they are required to have a 501(c)(3) non-profit tax-exempt status. Non-profit tax-exempt status is required by many foundations, corporations, and government agencies in order to be eligible for funding since many do not accept application proposals from individuals. Additionally, 501(c)(3) status allows collaborators to receive charitable deductible contributions from individuals, which can be an incentive for individuals donating to your project.
How to does it work?
As your fiscal sponsor, Life Media Projects (LMP), acts as a non-profit tax-exempt umbrella organization that accepts and administers contributions made to your project if it fits our mission on storytelling and initiatives committed to equity, social justice, and inclusion. LMP is legally responsible for the funds received on behalf of fiscally sponsored projects and must ensure that the funds are used for charitable activities, as agreed upon between the donor and recipient, and that the donor reporting requirements are met in a timely fashion.
LMP is not a fundraiser, or in any way connected to the content or actual production of your project. All artistic and proprietary rights, title, and interest in and to the completed project will belong to the Project Director and may be copyrighted in the Project Director’s name. Fiscal sponsorship does not provide grants or conduct research for individual project funding.
Contact us for additional information.