Why have a fiscal sponsor?
Fiscal sponsorship for film and creative media projects can provide crucial support and resources to filmmakers and artists. Film & creative media makers may contract with a 501(c)(3) fiscal sponsor to receive tax-deductible donations and grants, access to nonprofit status, and administrative support.
The Vermont Production Collective (VPC) Fiscal Sponsorship Program is a formal arrangement in which we agree to sponsor a film or creative media project that furthers our mission.
VPC Mission
The Vermont Production Collective exists to facilitate networking, collaboration, mentorships, and educational opportunities for established and aspiring artists in film and creative media. We seek to amplify and promote the work of the creative service industry in Vermont while supporting its continued growth and development.
Services
- Administering funds received in support of the project. Funds will be distributed only to the applicant / film project at agreed upon benchmarks, upon receipt of invoice. At this time funds can not be distributed directly to employees or contractors used by the project.
- Overseeing the expenditure of funds to ensure adherence to the approved budget and funder requirements, and monitoring funder reporting requirements.
- Competitive administrative fees and the dependability of working with an established creative media support organization.
Ownership & Liability
VPC does not take any ownership of the sponsored project, nor do we accept any liability for the performance or activities involved in project implementation. We serve as a pass-through and provide oversight so that the project will use the grant funds received to accomplish the ends described in the proposal. Media makers retain copyright creative control, and all future sales or profit resulting from the project.
Eligibility
- The project should align with the mission and objectives of the Vermont Production Collective.
- The project should demonstrate artistic merit, creativity, and cultural or educational value.VPC reserves the right to reject any project on any basis, without explanation.
- The applicant must be a producer and/or director of the project, must hold artistic, budgetary, and editorial control, and must own the copyright of the proposed project.
- The project should have a clear scope, timeline, and budget. The applicant must submit a budget breakdown and proposed timeline of production & completion. This can include a budget narrative and does not need to be perfect or complete. Budget must be approved by the Vermont Production Collective.
- The project may be in any stage of development, production, post production or distribution.
- Projects must be seeking funding from individual, foundation, government or corporate sources that give only to nonprofit organizations with IRS tax-exempt status.
- Crowdfunding campaigns to be combined with fiscal sponsorship are also eligible.
- Applicants must reside in Vermont to apply for fiscal sponsorship.
- Project cannot be substantially engaged in any political activities such as lobbying for specific candidates or legislation.
- Project staff may not make tax-deductible contributions to their own project through VPC’s fiscal sponsorship program.
- Contributions from donors are eligible. However, contributions from investors are not eligible. A donor makes charitable donations to your project with no goods or services exchanged. Investors require a return or financial reward based on terms and conditions you set forth in any loan or investor agreement.
Fees
- We levy an admin fee of 7% on funds raised. This is non-negotiable, and is used to cover costs incurred by VPC in the administration of fiscal sponsorships.
- Online donations incur a credit card processing fee of 3.5% (Amex) or 2.2% + $0.30 (non-Amex). This is charged by the online donation platform, because of this we recommend that any major contributions are made via check or bank transfer.
- Stock donations will incur any fee that is charged by the investment firm.
Project Approval
Upon approval of your project, the following will be requested:
- Sign Fiscal Sponsorship Agreement stating that you will:
- Keep track of all expenses connected with the project
- Spend donated funds on project expenses included in the budget approved by the Vermont Production Collective
- Complete and return annual Project Status Report
- Comply with all funder reporting requirements, on time, as per the funder’s schedule
- Establish the duration of the sponsorship. At the conclusion of the pre-approved term the applicant may apply to extend the term of the sponsorship agreement or receive a disbursement of remaining project funds.
- Provide a signed W9 form.
- Verify the names of the primary and secondary contacts for the project
- Provide bank account info to receive funds
- Verify budget amounts