Fiscal Sponsorship, at its most basic level, is when a 501(c)3 organization enables non tax-exempt organizations/programs to accept tax-exempt donations and grants intended only for nonprofit organizations. A Fiscal Sponsorship relationship can be used as a fundraising tool to expand donor bases through the benefit of this tax-exempt status.
Pentacle’s fiscal sponsorship programs for artists are offered at three levels and can be tailored to meet the needs of all artists. Unique projects is our most basic sponsorship service offering tax exempt donation processing, while the more comprehensive Foundation for Independent Artists (FIA) provides full fiscal administration services and all the benefits of incorporation on an annual basis. FIA is also offered on a single project basis through FIA Projects (FIA projects).
Foundation for Independent Artists (FIA)
FIA is a comprehensive Fiscal Sponsorship program which offers performing artists instant 501(c)(3) incorporation without the challenges of incorporating. It is ideal for those in need of bookkeeping, payroll services and insurance. Participating artists work with a dedicated administrator on a weekly basis to build their infrastructure and financial foundation.
Fees are assessed at 5.5% of income, with a minimum base fee of $2750/year.
FIA Projects is a comprehensive Fiscal Sponsorship program offering instant incorporation on a project basis. It is ideal for artists in need of bookkeeping, insurance, and payroll services for a particular performance engagement or tour. For the length of the project, artists will work one-on-one with a dedicated administrator who will handle all of the day-to-day fiscal tasks associated with the project.
Fees are based on income with a minimum base fee of $500/project.
Unique Projects is our basic sponsorship program which gives artists the ability to receive tax deductible donations, apply for foundation grants, as well as other nonprofit benefits, such as discounted rehearsal space. Artists work with a dedicated administrator to clearly, reliably, and efficiently process their donations and send acknowledgments on their behalf. This service is ideal for emerging or established artists with project-specific fundraising needs.
Fees for Unique Projects are the lowest for individual artists in New York City, starting at 5.5% of income.