What is Fiscal Sponsorship?
NYWIFT’s fiscal sponsorship allows filmmakers to access foundation and government grant funding that may only be accessible to nonprofit organizations or fiscally sponsored projects. It also provides the incentive to donors that their contribution to the project is a charitable deduction for income tax purposes.
This program does not fund film projects. Instead, NYWIFT acts as a nonprofit umbrella organization for filmmakers and videomakers who are seeking to raise funds and require nonprofit status to do so. Funds raised by project directors is directed to NYWIFT who administers and disburses those funds back to project directors.
There is no application fee. NYWIFT takes an administrative fee of 7% for any funds raised through the fiscal sponsorship program.
How to Apply
Applications are accepted on an ongoing basis. There is no deadline. You must be a NYWIFT member to be considered for fiscal sponsorship. (Become a member.)
Submit a one or two-page project proposal or treatment, a budget and the bios of key personnel. Please designate a single project manager who will be responsible for requesting funds and reporting to NYWIFT. Email your proposal to email@example.com. Please write Fiscal Sponsorship in the subject line of your email. Your application will be reviewed within two – three weeks. If your application is accepted, you will be sent a contract within two – three weeks. Checks should be made out to NYWIFT. Make sure to put the project name in the memo portion of the check.
Checks should be sent to:
New York Women in Film & Television
PO Box 55
Kings Park, NY 11754
The contract outlines the relationship between NYWIFT and the project director, and sets reporting requirements. In the contract the project director warrants that the materials used in the project are not breaching any copyright and indemnifies NYWIFT against any legal actions that might arise out of any copyright issues.
The contract also indicates that NYWIFT has full discretion and control over the use of contributions received. If a project no longer complies with NYWIFT’s charitable and educational purposes, NYWIFT has the right and responsibility to return or redirect funds.
Project directors are required to submit regular reports on the progress of their projects. Reports are submitted annually for projects spending under $100,000 in a given calendar year. For projects spending more than $100,000 in a single year, reports are required to be submitted for each $100,000 spent. Project directors are also required to submit any reports due to contributors.
How Funds Are Dispersed
Project directors submit requests for reimbursements or advances. Reimbursement requests must be accompanied by receipts. Please fill out the disbursement request form in the download area of this page.
Detailed plans for the use of advances are required, including proposed budget line items. Receipts, payroll records and complete financial reports must be submitted for expenditures of advances. No additional advances will be made until all required reports are submitted. At least $100 or 10% of funds raised is held by NYWIFT until all reports and receipts have been submitted.
A Fiscal Sponsorship Report will be sent to the project’s director on Thursdays of every week stating the project’s balance.
NYWIFT receives appropriate credit for serving as fiscal sponsor, and will also have the right to remove its name from any production.
- Do I have to raise the amount listed on the budget submitted for Fiscal Sponsorship?
No. What you raise is up to you. We do not hold you accountable to your budget.
- Do you accept credit card donations?
We do accept credit cards for donation via a link that is on your film’s page.
- Should donors write their checks to NYWIFT?
Yes, checks should be written to New York Women in Film & Television.
- How does accounting for funds coming in and out work?
NYWIFT sends a report on Thursdays every two weeks. A disbursement form needs to be filled out for any disbursement request. Forms should be sent to NYWIFT on Thursdays of every week. Processing time for checks and wire transfer are seven days and five days, respectively. Please send disbursement request during our business hours (10am-6pm Monday-Friday).
- Do you provide a 1099?
Yes. We provide 1099s to all vendors who are paid through NYWIFT.
- Do I have to provide receipt for reimbursement?
Yes. We need receipts showing the funds collected are spent on the project going through our program.
- What do you provide the donor that allows them to get a tax write-off?
We send a “Thank You” tax donation letter to all donors.
- Is there a fee for wire-transfer donations to my bank account?
We do not charge a fee, but your bank may charge a fee for transfer.
- How long does it take from submitting an application to notification of approval?
It take two weeks to process fiscal sponsorship applications.
- I am applying for an LLC — can I submit the application as an individual and change it to my LLC once I receive it?