New Mexico Foundation (NMF) provides fiscal sponsorship to organizations with a charitable purpose that do not have 501(c)(3) status. As a fiscal sponsor, NMF provides administrative services, oversight, and financial responsibility for the activities of an organization engaged in charitable work. This relationship allows a sponsored organization to solicit and raise contributed income from grants and private donors. As a fiscal sponsor, NMF provides financial, donor, project and grant management services, technical assistance, and use of our community and work spaces. Examples of provided services include:
- Secure online donations and processing for each project
- Monthly financial activity reports
- 1099 tracking and reporting
- Ability to receive donations of appreciated stock
- Acknowledgment to donors of tax-deductible donations totaling $250 and above
The foundation’s standard fee for these services is 10% of incoming donations.
NMF does require their fiscal sponsors to be separate legal entities, to have an FEIN, and to have general liability insurance.
The process of applying for fiscal sponsorship begins by submitting a letter of inquiry. Please ensure your project has a charitable purpose and also aligns with the foundation’s mission of stewarding community resources, building partnerships and creating opportunities that transform lives throughout New Mexico.
If NMF staff determine that your project is a fit with our mission, you will be sent an application.
All final approvals for fiscal sponsorships are determined by the Program and Grants Committee which meets monthly.
For more information, please reach out to Inge Sullivan at [email protected] or 505.820.6860.