NYFA Fiscal Sponsorship: Your Questions Answered
Fiscal sponsorship versus a grant: what’s the difference?
Under NYFA’s Fiscal Sponsorship program, individual artists and emerging arts organizations can optimize the reach of their fundraising efforts. Below, Sarah Corpron, NYFA’s Acting Director of Business Services, answers common questions about the program, which provides greater access to funding opportunities from foundations, and incentivizes individual donors to give, because their donations will be tax-deductible.
NYFA: What is the difference between NYFA Fiscal Sponsorship and receiving a grant?
SC: NYFA Fiscal Sponsorship is a program that enables artists to access funding through charitable donations and grants using NYFA’s 501c3 status. Our program also offers financial oversight and administrative services that support artists and organizations in their own project activities. This includes staff consultation for grant application review, project material review, fundraising strategy, and project management coaching. Applying to, and receiving a grant, is a direct relationship with a funder in which the applicant (you) is given funds for the fulfillment of certain project goals or activities. Most grants are issued only to organizations with 501c3 status; there are far less grants available for individuals. In simple terms, a grant is money, and a fiscal sponsorship program gives you access to more grants AND the ability to secure individual donations.
NYFA: What kinds of projects are best suited for NYFA Fiscal Sponsorship?
SC: NYFA supports projects of all creative disciplines that provide some kind of public benefit (a way for the public to interact with, view, or access the project). Applicants must also have a US-based tax ID number. Individuals, groups, and organizations are welcome to apply; however, one lead applicant is required for all application materials and contracts. If you aren’t sure your project is a fit, we hope you will look at the wide range of projects in our NYFA Fiscal Sponsorship Directory and contact [email protected] with any further questions.
Want to Know More?
NYFA’s Fiscal Sponsorship program does not provide direct funding, but it does open doors for other funding opportunities. Ready to apply? Check out these Fiscal Sponsorship Frequently Asked Questions.
Deadlines to apply for NYFA Fiscal Sponsorship are June 30, September 30, December 31, and March 31. Learn more about NYFA Fiscal Sponsorship, and read more about other exciting projects utilizing sponsorship, in our NYFA Fiscal Sponsorship Directory.
Image: Franklin Evans (Fellow in Painting ‘15)