Comprehensive Fiscal Sponsorship Agreement

Changes Found Below:

Changes July 27, 2017:

  • The Project, upon dissolution or after 6 months of suspended/cancelled membership, will disperse remaining funds to an appropriate entity as
    determined jointly by the grant funder and/or the Fiscal Sponsor. If funds remain from donations, the project agrees to release the funds to New Sun Rising after 6 months.

Changes February 26, 2017:

  • Any contractor/vendor of the project will be required to submit a W9 and have a US bank account prior to being paid. All agents of projects are considered Independent SubContractors to New Sun Rising and contractors to your project, and will receive a 1099 at the end of the year if they meet the threshold. If the project is long term, New Sun Rising may require agents of the project to become benefited employees and paid through our Grow MODE services. Contractors are required to hold their own insurance. The additional expenses are passed onto the project.  You MUST have enough funds in your account for 2 months prior to paying employees.  Nothing contained herein or any document executed in connection herewith, shall be construed to creating an employer-employee partnership or joint venture relationship between the Organization and the Contractor.  Contractor is an independent contractor and not an employee of the Organization or any of its subsidiaries or affiliates.  The consideration set forth in Section 2 shall be the sole consideration due Contractor for the services rendered hereunder.  It is understood that the Organization will not withhold any amounts for payment of taxes from the compensation of Contractor hereunder. Any and all sums subject to deductions, if any, required to be withheld and/or paid under any applicable state, federal, or municipal laws shall be Contractor’s sole responsibility and Contractor shall indemnify and hold Organization harmless from any and all damages, claims, and expenses arising out of or resulting from any claims by any taxing authority as a result of or in connection with said payments.

Changes March 12, 2018:

  • The Fiscal Sponsor shall review and approve all grant applications and grant reports prior to submission. Proposals and reports must be submitted at least 1 week prior to their due date.(See policies + procedures for restrictions or special instructions for some foundations) Fees may be assessed for rush jobs.
  • The Project agrees to review and abide by this agreement and the Comprehensive Fiscal Sponsorship Policies and Procedures found on the community web portal.  
  • The Project agrees to indemnify, hold harmless and defend The Fiscal Sponsor, its directors, supervisors, officers, and agents from any and all third party claims and/or liability, direct or indirect, resulting from or in connection with, the fiscal sponsorship of The Project and/or activities of the Project. The Project agrees that they do not represent The New Sun Rising and will not act as agents of New Sun Rising, except when directly related to the Project.  The Project will not use The Fiscal Sponsor’s Employee Identification Number without knowledge or permission. At that point, The Project will maintain conduct as per the policies and procedures and always represent The New Sun Rising in a positive manner. If The Project has concerns with The Fiscal Sponsor, its directors, supervisors, officers, project, and/or agents, they are to mediate issues with New Sun Rising staff first.
  • The Project must act within the financial policies outlined by The Fiscal Sponsor and agrees not to use funds raised, or received from The Fiscal Sponsor, in any way which would jeopardize the tax-exempt status of The Fiscal Sponsor. The Fiscal Sponsor retains the right, if The Project jeopardizes The Fiscal Sponsor’s legal or tax status, to withhold, withdraw, or demand immediate return of the grant funds. In addition, The Project shall use project funds solely for the project described above and The Project and/or The Project Leader shall repay to The Fiscal Sponsor any portion of the amount granted which is not used for that project.
  • In consideration of The Fiscal Sponsor’s agreement to sponsor The Project, and to cover The Fiscal Sponsor’s expenses in connection with The Project as outlined above, The Project and/or The Project Leader will pay the following fees, charges, and expenses: Credit card and processing fees, rush fees, late fees, expense cards, returned check fees, and others listed in The Fiscal Sponsorship Policies and Procedures.
  • The Project agrees to hold uninterrupted liability insurance coverage by choosing one of the following options:
  1.  Listing The Project on The Fiscal Sponsor’s general liability insurance policy for a fee of $400 per year. This $400 will be in addition to the $110 membership fee + administrative fee referred to above.
  2.  Listing The Fiscal Sponsor on a separate liability insurance policy for The Project. The Project will provide The Fiscal Sponsor with a copy of certificate of insurance listing The Fiscal Sponsor.
  • The Project agrees to an administrative fee consisting of 7%-10% of grants, tax deductible donations, gifts, and ALL revenue received in support of The Project. In addition, a membership fee will be implemented (currently $110/year). Any additional registration, bank and other fees will be paid by The Project and/or The Project Leader.
  • The Fiscal Sponsor may amend this user agreement by using electronic communications to revise at any time. If the change to the agreement reduces your rights or increases your responsibilities, we will provide you with at least 30 days’ prior notice. Rate changes will be effective on next renewal date of membership.