We’ve spent the past several weeks writing about the intricacies of fiscal sponsorship, from what it is and why it is important in the nonprofit sector, to how to research and apply for sponsorship and determine the best fit for your emerging idea. We could continue on in this vein for several more weeks, but hearing what we think is only one part of the story. What about the perspective of a fiscally sponsored project?
Dalai Lama Fellows, a San Francisco-based program authorized by His Holiness the Fourteenth Dalai Lama, awards yearlong fellowships to students at select universities and colleges worldwide. Fellows design and launch mentored Compassion-in-Action projects in one of four core areas. This week, DL Fellows launched a webpage dedicated to explaining fiscal sponsorship to its community.
“Why have we chosen fiscal sponsorship? Being fiscally sponsored provides us and all of our constituents — donors, partners and employees –the full benefit of our functioning like a not-for-profit organization, including tax-deductibility and liability coverage, without our having to name and service a board or spend time identifying and working with vendors for payroll, accounting, audit, legal and other administrative concerns. This empowers us to maintain a laser focus exclusively on our core purpose and enables us to manage a global program with a lean staff of five people, thus making efficient use of donor support.”
The heart of fiscal sponsorship lies in our ability to give our projects the support and resources they need to maintain that “laser focus exclusively on … core purpose.” The rest of Dalai Lama Fellows sponsorship story can be found on its fiscal sponsorship webpage. We’re honored to be in service to their great work.