What are the fees associated with a Model A project?
8% of all revenue received + $29/month ($29 x 12 months = $348). The $29/month fee must be paid via a personal credit card. If your project raises $5,000 or more in a calendar year, the $348 will be refunded to you. We will work with projects with significant revenue to lower fees once the project reaches $500K in annual revenue. Please see this resource for more information.
What are the fees associated with a Model C project?
6.5% of all revenue received + $29/month ($29 x 12 months = $348). The $29/month fee must be paid via a personal credit card. If your project raises $5,000 or more in a calendar year, the $348 will be refunded to you. We will work with projects with significant revenue to lower fees once the project reaches $500K in annual revenue. Please see this resource for more information.
Are there any other fees such as start-up or termination fees?
Typically, there are no additional fees. However, there could be direct costs to projects that require supplemental insurance for activities not covered by our general liability policy or projects that require legal review. This will be discussed after you submit an application, during the inquiry call.
What is the process for becoming a Social Good Fund project and how long will it take?
First, complete an application. Once it has been received, we will reach out to schedule an inquiry call with you if we feel we can serve your project well. Depending on volume, calls are typically scheduled about two weeks from receipt of an application but can sometimes be longer. We promise that we will answer all of your questions when we speak! How long it takes to onboard a new project depends on the needs of the project and our ability to meet those needs. Typically, however, we can start a project within two weeks of speaking with you.
How will I know if my application has been received, or if I qualify for an intake call?
Once you click “submit” on the application for sponsorship form, a notification will pop up that says, “Success. Your form has been successfully submitted.” If we believe we can serve your project well, we will reach out within five business days to schedule a call.
How do you decide what projects to accept/deny?
THough we work to accept as many projects as we can, there are a number of factors that go into the decision making process including, but not limited to: Do the activities and mission of the project meet the 501(c)(3) standard for tax exemption? Is the project well aligned with Social Good Fund’s mission, vision and values? Does the project have significant liability or risk? Does the project have realistic expectations of a fiscal sponsor? Do we think we can work well with you/your project to achieve the mission? There are, of course, many other considerations that will be surfaced during the inquiry call, after you submit an application for sponsorship.
Is there a term or period of time that I have to remain fiscally sponsored by SGF before I can spin off to my own 501(c)(3), transfer to another fiscal sponsor, or dissolve my project?
Typically, no. Most projects will remain with us until they are ready to move forward independently or dissolve their project completely. We ask for a minimum of 30 days notice when a project would like to terminate sponsorship.
What’s the difference between a Model A and Model C project and how do I know which is the best fit for me?
Start with this excellent resource. Don’t worry if you still have questions after reading it, we will address everything you need to know to make the right decision (A or C) during the inquiry call, after you have submitted an application.
I have money waiting to be donated right now. How quickly can I start?
First, complete an application for sponsorship. Once we have received it, we will reach out to schedule an inquiry call with you. The speed at which we can move will depend on how full our project on-boarding schedule is and what your exact needs are. After speaking, we can typically move a project forward in a few days if necessary.
If my project is accepted, can I pay myself for time spent working on my project?
In most cases, yes. This will be discussed in detail during the inquiry call.
Can my project engage in lobbying and advocacy work?
In most cases, yes, if it is an allowable 501(c)(3) activity, not in support of a political candidate, and we are notified of your intention to engage in the activity PRIOR to carrying it out and it is in alignment with our mission and values.
Can my project engage in civil disobedience activities?
No. Though we recognize the power of CD as a tool for social change, projects cannot break any laws or put people in harm’s way.
Can my project apply for a government grant?
In most cases, no. Government grants require a level of oversight and accounting that may be beyond our capacity to manage well. In very limited circumstances we may allow a government grant for projects with prior experience with these types of grants.
Can my project charge a fee for service i.e. earn revenue (as opposed to receive donated revenue)?
In most cases, yes, if it is tightly aligned with the mission of the project. Details of earned revenue will be discussed during the inquiry call, after you submit an application for sponsorship.
Can my project sell stuff?
In most cases, no, not directly within your project. Social Good Fund is not set up for projects to engage in eCommerce activities. Your project can, however, offer a gift in return for a donation much like your local NPR station. E.g. Donate $100 and receive a t-shirt valued at $20, donation amount will be $80.
Can my project have employees? What benefits do you offer and how much do they cost?
Yes your project can have employees but only if you have the funds to pay for them. We require that projects with employees keep three months of salary and benefits liability, for every employee, in your account with us at all times. We offer nationwide health, dental and vision plans. Costs will depend on several factors including age and location of the employee. We also offer commuter benefits, a 403b retirement plan, and health and child care FSAs. The details of our benefit plans will be discussed during the inquiry and onboarding phases.
Can my project have international employees i.e. non-U.S. citizens living outside of the U.S.?
No. However, you can often pay people working internationally as Independent Contractors depending on the exact circumstances of your project.
Can my project work with Independent Contractors?
My project does work outside of the U.S. can I still be fiscally sponsored?
In most cases, yes. However, we always require that a U.S. citizen with a U.S. address sign the agreement and act as the Project Director. The correct model of fiscal sponsorship for international projects will be determined during the inquiry call, after we receive an application for sponsorship from you.
Can I speak with a current project of Social Good Fund’s as a reference?
Yes, feel free to take a look at our page of selected current projects. Feel free to reach out to any one of them to discuss their experience with us.
If I start a Model A project with Social Good Fund can I still apply for my own 501(c)(3) when I’m ready?
Absolutely! Once you’ve established your 501(c)(3) we’ll transfer any remaining assets of your project to your newly formed nonprofit organization provided the mission of your new org is aligned with the mission of your project with us. For example, if your project with us is focused on helping homeless people and then you establish a 501(c)(3) with a mission to protect the Pacific Ocean, we would not transfer the assets of your project to your new organization as we must honor the original purpose for which donations have been made to your project. But it is our aim to transfer all project funds and other assets to any newly established 501(c)3 organization, and (in very rare cases) should any issues arise we will work together to resolve them.
I still have questions, what should I do?
If you’re serious about pursuing fiscal sponsorship, complete an application on our website. If it seems like a good fit, we’ll reach out to schedule a call with you and answer all your questions at that time.
We try to keep our administration fee as low as possible so more of the funds you raise can be used to further your charitable efforts.
What is Fiscal Sponsorship?
Fiscal sponsorship is an excellent way to be able to quickly start raising tax-deductible funds for charitable activities and receive back-office support to help you the many aspects of running a nonprofit organization. Nonprofit Quarterly has published a very helpful article on topic: