This fee is 10 percent of gross receipts. For example, if your project received a grant of $10,000, Community Initiatives would take $1,000 (10 percent of $10,000).*
After a project is approved by Community Initiatives’ board, the project is given one year in which to formalize the relationship, i.e. sign a sponsorship agreement and become a fiscally sponsored project. If the project signs the agreement and becomes a project without immediate funding, the project will be billed a service fee of $200 per month until funds for the project arrive.
Our minimum annual fee is $2,400. This means that if your project does not bring in a minimum of $24,000 in revenues during Community Initiatives’ fiscal year (beginning July 1), your project will be billed the difference to achieve the total annual fee of $2,400 (10 percent of $24,000).
Community Initiatives prides itself on operating under a policy that differs from that of other fiscal sponsors. We operate with a “co-op” philosophy: we rebate a portion of the fees back to our projects in years in which we have earned a surplus. A rebate has occurred in 11 out of the last 14 years.
*On rare occasions, a multi-million-dollar project has been able to negotiate an individualized rate.