Fiscal sponsorship is a formal arrangement in which a 501(c)(3) public charity sponsors a project that may lack exempt status. This alternative to starting your own nonprofit allows you to seek grants and solicit tax-deductible donations under your sponsor's exempt status.
Why would you want to do this?
Grants
Sponsorships
Donations
Fiscal Oversight/Responsibility
You want to establish a new 501(c)3, but you want to get to work right away
Alternatives will not work for you: Loans, Crowdsourced Funding
Finding the Right Fit in a Fiscal Sponsor
Know yourself, your project, your purpose in creating your project, and the outcomes
Is there a nonprofit that aligns with your vision?
What is the cost of fiscal sponsorship through that organization, and what do you get for the cost?
How accessible is the money you raise?
What requirements does your fiscal sponsor have for you?
Helpful Links:
Fractured Atlas for independent artists who do not want to start a nonprofit
Arts Alive! Arts Incubation / Fiscal Sponsorship Program
Checklist for becoming a nonprofit
Hannah Grimes Center Resources:
The Hannah Grimes Center for Entrepreneurs is a great resource for getting a project planned - there are coaches, coworking space, and workshops that will help you get your vision mapped out.