In addition to implementing our own programs, RMFU provides fiscal sponsorship services on a case-by-case basis for projects and entities that are aligned with our mission. Fiscal sponsorship services are provided under a preapproved grantor-grantee model to allow small and emerging organizations who do not have 501(c)(3) status to apply for and receive funding from third parties. The Foundation maintains discretion over all funds received and maintains fiscal oversight that funds are used in a manner consistent with a project or entity’s application, any conditions set by the funding source, and a written agreement between the RMFU Foundation and the sponsored project or entity.
RMFU Foundation retains oversight authority to ensure that the funds disbursed to the Sponsored Organization in support of the Sponsored Program are used for their intended charitable purposes.
RMFU Foundation shall have the right to withhold, withdraw, or demand the immediate return of any Sponsored Program Funds if the Sponsored Organization breaches this Agreement.
RMFU Foundation agrees that all Sponsored Program Funds will be reported for federal tax purposes as contributions to RMFU Foundation.
RMFU Foundation will retain an 15% administrative charge to cover the costs associated with its management of the Sponsored Program Funds and other administrative expenses associated with this Agreement.
The Sponsored Organization shall provide quarterly reports to the RMFU Foundation documenting use of all funds disbursed under the agreement.
The Sponsored Organization will reflect the activities of the Sponsored Program, to the extent required, on its state and federal tax and information returns and financial reports.
The Sponsored Organization shall submit full and complete quarterly reports to RMFU Foundation on the progress of the Sponsored Program.
The Sponsored Organization will provide all information and prepare all reports, including interim and final reports, required by RMFU Foundation to satisfy any funding sources.
The Sponsored Organization shall use the funds it receives from RMFU Foundation solely for purposes of the Sponsored Program.
No portion of the Sponsored Program Funds shall be used in any attempt to influence legislation or be used to participate or intervene in any political campaign.
Nothing in this Agreement shall constitute the naming of either party hereto as an agent or legal representative of the other party for any purpose. No Agency & No Back Office Services; Taxes.
The Sponsored Organization shall comply with all laws and regulations concerning the solicitation of charitable contributions. All grant agreements, pledges, or other commitments with funding sources to support the Sponsored Program shall be subject to RMFU Foundation’s advance approval.