Fiscal Sponsorship

Last year, I sat in on a presentation by a representative from Fractured Atlas, a non-profit based in New York.  He explained the benefits of fiscal sponsorship for artists which basically means an individual can make a tax deductible donation to an artist through Fractured Atlas.  In a nutshell, that wealthy uncle can financially contribute to your artistic endeavors and get a tax write-off to boot.

Following are some highlights of what they have to offer:

Types of memberships:

·      Community membership is free (access to healthcare, the calendar and special offers only)

·      Individual membership is $95 per year or $9.50 per month (fiscal

sponsorship, micro grants, Fractured U) 

Fiscal Sponsorship - Raise $ through FA.  Applications are reviewed monthly by the Board of Directors. Once approved, the applicant can expect to begin fundraising in 2-3 weeks.

·      Legally recognized 501(c)(3) public charity. Donations are tax deductible.

·      Fundraising tool for any ongoing or temporary project in the arts.

·      Create dynamic fundraising campaigns.

·      Donations can be accepted online with a credit card – up to $5000 with no additional fee.

·      Donors can set up automatic recurring monthly donations.

·      Can set up non-cash donations of equipment and materials.

·      Online managing tools for sponsored funds – check balance, view donation and fund release history, look up donor contact info, process new donations etc.

·      Funds are issued weekly to the sponsored artist.

·      Structured to ensure no taxes will be owed on disbursed funds.

·      FA charges 6% administrative fee.

·      A comprehensive list of current projects including organizations as well as individuals.  The listings included descriptions ranging from brief to detailed and most included links to individual websites.

Grants offered directly through FA

·      Micro grants- $250-$1000 offered twice per yr, June and Dec.

·      Must be a member of FA

·      Currently receive 50-100 applications per round, 2-4 are funded.

·      $10 non-refundable application fee

·      Website includes common do’s and don’ts of grant application.

Insurance

·      Health Insurance (same premium as insurance co. but FA provides customer service. More people in plan=more bargaining power)

·      Annual General Liability insurance

·      Artwork insurance

·      Data and equipment insurance

·      Worker’s comp

·      Teachers liability insurance

·      Film insurance

·      Travel insurance

·      Event liability

·      Public art

·      Volunteer Accident

Fractured U

·      Online courses for the do-it-yourself artist that covers the business side of art. Courses covered-

o   Presentation Venues – pros, cons, researching spaces

o   Marketing: Demystified – research, positioning, distribution, promotion

o   Fundraising: Demystified

o   Professional Identity: Demystified – clarify professional identity

o   Getting Your Sh*t Together – 10 step comprehensive course

o   Social Media Marketing for Arts Professionals – intro

o   Surviving the Board of Directors: Understanding the Role of the Board in an Arts Nonprofit

o   Writing an Effective Fundraising Letter

o   Personal Financial Planning for Artists

o   Independent Contractors vs. Employees – What’s the Difference?

Special Offers for Members  [Many, but not all, discounts are New York specific.]

·      Discounts include:

o   accounting services/software

o   workshops

o   travel / car rental

o   legal services

o   payroll services

o   health clubs

o   retail

Member News Page

·      Members can list notifications of interest to other artists

Online Calendar

·      Lists performances, exhibitions, screenings, auditions, readings, concerts, openings, open calls, etc


More information can be found at:  http://www.fracturedatlas.org/