Please accept and agree to the following:
As fiscal sponsor, PiP serves as a vehicle through which a charitable program can operate under an established 501(c)(3) organization, without the burden of having its own charitable status. The fiscal sponsor, PiP, will enter into a fiscal sponsorship agreement with the sponsored program or its agents. The agreement will outline the legal ownership, collection and distribution of funds/assets, as well as serving as signatory on all legal and financial matters specific to the sponsored program. For its services as fiscal sponsor, PiP will be entitled to retain a portion of the funds received for the program for its general operations. Sponsored programs will understand that sponsored programs/projects will be under the guidelines and authority of PiP, which is legally responsible for the operations and activities of the project.
Grant-making activities will be “advised” by the sponsored program, but grants are only awarded with final approval from the PiP Board of Directors.
Expenses (direct costs, grants, etc.) will only be paid using available project funds. Any costs that exceed the available project funds will not be covered by PiP.
Expenses related to the sponsored program’s activities are taken from the program’s budget and will only be paid or honored if sufficient funds are available.
PiP does not sponsor programs that carry out lobbying activities, voter registration, get-out-to- vote programs, or those attempting to influence legislation or the outcome of any political campaigns.