Mutual Expectations
The relationship between a fiscal sponsor and its projects is a unique one. While sponsored projects enjoy a large measure of independence from the sponsor, it is critical to keep in mind that the sponsor and the project are a single legal entity with a Model A agreement.
This means that what the Model A project does and how it goes about its business can have ramifications for the fiscal sponsor (and its other sponsored projects) and vice versa. At Social Good Fund, we view our relationship with our projects as a partnership. A partnership that returns mutual benefits and which ultimately results in serving the mission as efficiently as possible.
While Model C sponsorship relationship does not carry the same liabilities as a Model A, of critical importance is that Model C funds are only used for allowable 501(c)(3) expenses in service to a charitable mission approved by Social Good Fund and that detailed accounting records are kept at all times.
Finally, a great partnership relies on us being accountable to each other. By working together we agree to:
Work in good faith to fulfill our charitable mission
Communicate in a timely and effective manner
Follow through on our commitments to each other
Be nice and be reasonable in our interactions
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