Fiscal Sponsorship for Artists

WHAT IS FISCAL SPONSORSHIP?

One way Summit Artspace fulfills its mission to connect artists and artist-serving organizations to the resources they need to thrive professionally, creatively, and financially is to serve as a Fiscal Sponsor for projects. Fiscal sponsors accept and disburse grant monies and other contributed revenue that supports the projects of individual artists or organizations who do not have an IRS 501(c)(3) tax-exempt status.

All fiscally sponsored funds Summit Artspace holds must be used towards the specified grant or project. Any remaining funds not used for the project are retained by Summit Artspace and/or returned to the original Funder according to the terms of the grant agreement. If applicable, the Sponsee is responsible for securing any matching funds required by the Funder and reporting the matching funds to the Funder and Summit Artspace. Grantees retain full ownership and control over the work they create while sponsored. 

The administration fee charged by Summit Artspace is typically 6% of the grant award or contribution, plus a monthly fee for the use of Summit Artspace’s platform for the duration of the project. Each Grantee’s exact administration fee will be specified in the Fiscal Sponsorship Agreement. 

HOW CAN I LEARN MORE?

To learn more about whether fiscal sponsorship is right for you, contact Executive Director Heather Meeker at 330-376.8780 ext. 2 or email heather@summitartspace.org.