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Streams of Dreams
is a 501(c)(3) organization committed to providing fiscal sponsorship opportunities that enhance communities throughout the world. The organization provides a platform of shared services, outsourcing and cooperative relationships to projects that operate under its umbrella.

Streams of Dreams is not responsible for the programmatic operations of fiscally sponsored projects. These operations, as well as incurred liabilities to third parties, are the ultimate responsibility of the fiscally sponsored project as of the effective date of the agreement.

Fiscal Management

  • Benefit of tax-exempt designation by the IRS.
  • Ability to receive funding from corporations, foundations, government, and individual donors.
  • Acknowledgement of tax-deducible donations to funding sources.
Financial and Administrative Support
  • Record keeping and reporting of project finances, including cash receipts and disbursements.
  • Tracking of activity in financial statements.
  • Tracking of donor database.
  • Tracking of restricted funds.
  • Tracking of grant reporting.
  • Proposal submission to funding sources.
  • Tax filing and reporting - IRS Form 990 Tax Return.
  • Online ACHEFT capability.
  • PCI compliance - ACHEFT transactions handled with highest industry standards in security and confidentiality.
  • Online/virtual fundraising.
  • Fundraising/marketing material.
Capacity Building
  • Sound fiscal controls.
  • Protocols based on generally accepted accounting principles and regulation.
  • Standard operating procedures.
  • Mission accountability, program development, business development, fundraising, marketing, strategic planning, people management, advisory and board development, and leadership development.





Responsibilities
Fiscal Sponsor
Project
Maintaining 501(c)(3) nonprofit status.

X
 
Handling funds received directly from funding sources.
X
 
Controlling disbursement of funds received from funding sources.
X
 
Disbursing funds to entity other than project.
X
 
IRS Form 990 tax filing and reporting.

X
 
Has the right to terminate the relationship.
X
X
Fundraising, including writing grants or seeking individual donors.
 
X
Report how funds received from funding sources have been expended.
 
X
Has creative control, and owns the right to the project.
 
X
Retains separate advisory board for making strategic decisions.
 
X
Separate legal entity liable for its own taxes, insurance, debts and staff.
 
X

“Fiscal sponsorship does not absolve the project from tax obligations, and projects are strongly encouraged to seek the expert advice of a CPA or tax attorney.”

—Cynthia Whiteside, Founder & CEO