Terminating Your Sponsorship Agreement

We understand that it may be necessary and appropriate for a fiscally sponsored project to terminate its sponsorship agreement with Social Good Fund.

You will need to terminate your sponsorship agreement if your project’s mission is complete and activity will end, if you have decided to cease pursuing your mission, or if you have formed a new 501(c)(3) organization and wish to transfer the project’s activities to that organization, or if you are transferring to another fiscal sponsor.

In any of the above cases, in order to close or transfer your project, please submit a letter signed by the Project Director, indicating that you would like to terminate your sponsorship to: [e-mail]

If you are moving to another 501(c)(3), please submit their IRS determination letter and payment details to transfer your remaining account funds to the new organization to: [e-mail] and [e-mail]

The SGF Accounts Team will review your financials, determine the remaining balance, and send funds (check, ACH, wire) to the new nonprofit organization, once we have reconciled your account. Remaining account funds will be sent on or near the 20th of the following month.

We will also request a list of tangible assets that have been purchased with project funds during your term of sponsorship. If you are transferring to your own 501(c)(3) or another fiscal sponsor, you will likely take those assets with you. However, if your project is dissolving entirely and will NOT be moving to another entity, the tangible asset will stay with Social Good Fund.

If your project has active contracts, debts or agreements, we will draft an Exit Agreement for your review and signature. SGF will contact you via email to confirm that your project has been officially closed or transferred when the process is complete.

To discuss terminating your sponsorship agreement, please contact: [e-mail]

To discuss your project finances as it relates to terminating, please contact: [e-mail].