Fiscal Sponsorship of Grants

In an effort to foster a positive climate for creative work and media innovation, Holyoke Media will provide comprehensive fiscal sponsorship for grants.

Any project seeking Holyoke Media as a fiscal sponsor must meet all of the following criteria:

• The project must parallel Holyoke Media’s mission.
• The project must serve the community of Holyoke.
• The project must have a media component.
• The project must strictly adhere to laws governing noncommercial and 501(c)(3) nonprofit organizations.

As a fiscal sponsor, and in an effort to provide appropriate oversight without interfering with the project, Holyoke Media will maintain separate accounting for all financial records, issue checks to service providers as needed, including yearly Forms 1099MISC, receive deposits and donations, and provide regular financial reports to grantors and project leaders. Holyoke Media will maintain variance power and at its sole discretion, may refuse payment on any receipt it deems to be inappropriate, outside the scope of the grant proposal or inconsistent with the organization’s nonprofit status. Payments will only be made in response to invoices, or by submitting a payment request form. Meal reimbursement should not exceed $50 per person per meal without the prior written approval of the Executive Director.

It remains the responsibility of individual projects to raise any funds, prepare annual budgets, design and carry out their programs. 

In exchange for providing this service, Holyoke Media will receive 10% of the total funding raised.

Those interested in applying for fiscal sponsorship will submit to the Executive Director a formal request detailing the project, its goals, the expected timeline of the project, any additional fundraising plans, a proposed budget, and an explanation of the capacity to achieve the purpose. For the purpose of reviewing the request, Holyoke Media may request that additional documents be provided.

All project proposals will be brought to the attention of the Holyoke Media Board of Directors. Directors may, as they deem necessary, participate in the proposal-review process with the Executive Director. Projects will be approved at the Executive Director’s sole discretion. Priority will be given to projects that specifically seek to engage people in media or media production.

Projects are precluded from using the organization’s name for granting or fundraising purposes until a fiscal sponsorship agreement has been executed. Included in the executed agreement will be a timeline that outlines the frequency with which the project leader will provide formal project updates in writing to the Executive Director.

Sponsored projects should acknowledge Holyoke Media’s support in publications and news releases or stories. Similarly, Holyoke Media may give the project mention on the organization’s website, in news releases, or in its annual report.