Replies

To: Travis McGee
I think these are the same guys, but I can't find the Berg's name anywhere, but on the home page, they mention just getting back from Guatemala (wasn't Nick Berg there?) and it is fow low powered FM stations, and they are located in PA.

Here's a start:
http://www.prometheusradio.org/

http://www.prometheusradio.org/faq_fiscal.shtml
Frequently Asked Questions
Prometheus' crackerjack team of technical types shares the most frequently asked questions and provides the answers.
The Question
What is a fiscal sponsor? Do I need one
The Answer
Many small, unincorporated associations have "fiscal sponsors." A fiscal sponsor is a 501c3 organization which receives money, tax exempt, for the smaller organization. The fiscal sponsor generally has a mission which is in harmony with the mission of the smaller group, and it files tax returns and so on behalf of the smaller organization in exchange for a percentage (often 5%) of the money that they receive from grants for the smaller organization. Obviously, you do not need a fiscal sponsor if your organization already has a 501c3. Also, you can't have a fiscal sponsor unless you do have an organization...individuals are not eligible for fiscal sponsorship.
People can make donations to you if you do not have a fiscal sponsor or a 501c3 organization, but their donations are not tax deductible. Most foundations require that you have at least a fiscal sponsor.
Generally speaking, it takes 6 months to a year to get your 501c3 status. A fiscal sponsor can accept money in the meantime.
Most organizations choose to get their own 501c3 when they start bringing in more than about 25 or 30 thousand dollars a year. Beneath that, it is probably worth it to pay the 5% for the fiscal sponsor, because they take care of the dealings with the IRS for you. Audits can be expensive and time consuming, and can add up to more than 5% of your income anyway.
The Question
I need a fiscal sponsor. do you know any good ones
As a matter of fact, we do. New Society Educational Foundation is a group specifically devoted to supporting small progressive organizations through fiscal sponsorship. You might also be eligible for a $500 start up grant to help your station get off the ground.
Prometheus' own Pete Tridish is on the board, please contact him if you are interested. http://www.nonviolence.org/issues/nsef/

143 posted on 05/14/2004 9:47:50 AM PDT by eyespysomething (The Barbarians are at the Gates. Don't give Kerry the key!)