What: LIVE Workshop: Fiscal Sponsorships: What Are They, How They Can Generate Revenue, and How to Track Them in QuickBooks
In an attempt to further their mission as well as generate extra revenue, many nonprofit charities are offering to serve as fiscal sponsors for other informal organizations who are attempting to get grants. These informal organizations typically have not received tax-exempt status and rely on an already established 501(c)(3) charity to allow grants funds to flow through their organization. The 501(c)(3) fiscal sponsor receives the grant money that is earmarked for the sponsee organization. The sponsor usually retains an “administration fee” and either sends the balance to the sponsee or pays the bills of the sponsee directly. In this important new webinar, join national nonprofit expert Gregg S. Bossen, CPA, as he explains how fiscal sponsorships work and how to account for them in QuickBooks.
Topics covered will include:
- What constitutes a fiscal sponsorship?
- When can the expenses paid for the sponsee be considered program costs of the sponsor?
- What responsibility does a fiscal sponsor have in terms of monitoring how the sponsee spends the funds?
- How can sponsees and sponsors find each other?
- How can you account for these activities in QuickBooks?
This webinar will be recorded. You will receive the recording and accompanying resource materials with 72 hours of the event.
When: Wednesday, October 28th
2:00 p.m. – 3:30 p.m. EST (11:00 a.m.-12:30 p.m. PST)
All Participants will receive log-in information a week prior the webinar!
*This training is for users of both the Desktop version and the Online version of QuickBooks*
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