In 1998, Park Pride established the Fiscal Partners program to support community efforts to develop and improve parks and greenspaces. Through this program, Park Pride accepts tax deductible contributions on behalf of neighborhood partners who are making improvements to their parks or public greenspaces. For fifteen years, the Fiscal Partners program has enabled community groups in Atlanta and DeKalb County to raise funds for new playgrounds, enhanced landscaping and other park improvements without the hassle of having to get a 501(c)(3) nonprofit tax status.
What is a Fiscal Partner/Sponsor?
A fiscal sponsor is a non-profit organization with 501(c)(3) status that receives grants and donations on behalf of a group engaged in activities related to the sponsor’s charitable purpose.
Reasons for establishing a Fiscal Partnership:
- Limited or short term projects that wish to avoid the time & expense of applying for a 501(c)(3)
- Organizations that have applied for (or are in the process of applying for) 501(c)(3) status
- New projects that are not yet ready to apply for 501(c)(3) status
- Organizations that have 501(c)(3) status, but need assistance with administrative services
Benefits of Fiscal Partnership:
- Improved access to funding
- Increased credibility through partnership with established organization
- Increased efficiency
- Frees up project team to focus on fundraising and project implementation
- Low cost financial and administrative services
Park Pride’s Fiscal Partner Program services include:
- Specific Project Account for each Partner to accept tax deductible contributions
- Disbursements from Project Account as authorized by Project Liaison
- Donor acknowledgement
- Receipts for In-Kind donations
- Processing and tracking of company matching gift applications
- Tax reporting
- Regular account statements (monthly or quarterly depending on account activity)
- Database of project donors
Requirements for Participation in Park Pride’s Fiscal Partners Program:
- Fiscal Partner must be a Friends of the Park group
- Project must be: improvement and/or maintenance of a public park or greenspace; acquisition of land for public greenspace; programming designed to increase park usage.
- Partner must obtain approval to use Park Pride’s name and/or logo on all grant proposals, publicity, signage, and outreach materials.
- Partner must obtain Park Pride’s prior approval for all fundraising events and sales.
- Partner must submit annual report.
Cost of Services:
Park Pride’s standard fee for these services is 5% of contributions received.
Questions can be directed to Becky Katz at 404-546-7987 or firstname.lastname@example.org.