Senior Sports Foundation
Fiscal Sponsorships can be offered by an existing corporation who holds an IRS 501(c)(3) rating to smaller organizations who do not have the resources or staff to apply for their own IRS tax deductible rating. When a program is granted a fiscal sponsorship with the NMSSF they come under the umbrella of the Foundation's 501(c)(3) IRS rating to (1) allow a tax deduction for any donations made to their program; (2) allow them to apply for grants that often require a 501(c)(3) rating; and (3) apply for assistance from various businesses and corporations that require this IRS rating. All tax reports are submitted by the Foundation.
In exchange, the program will channel all of its funds through the NMSSF. All income must be deposited with the Foundation and will be held in a separate account for the benefit of the affiliate. All expenditures must be requested through an expense voucher system and submitted to the Treasurer of the NMSSF, who will review the expense for accuracy and compliance with the guidelines of the affiliate and the Foundation. A check is usually issued within one week of receipt of the voucher. The sponsored program will include acknowledgement of its affiliation with the NMSSF on all publications. See attached Fiscal Sponsorship Agreement.
The following programs currently hold Fiscal Sponsorships with the Foundation: