Every organization on GiveGab is required to be eligible to receive tax-deductible gifts to fundraise (learn more about other fundraising requirements here). If you are a new organization that has not yet received your tax-deductible status, fiscal sponsorship is a great option to start fundraising on GiveGab. You can learn more about what a fiscal sponsor is and what services they provide here.
The main role a fiscal sponsor plays on GiveGab is by submitting their tax-deductible EIN, their organization representative, and their bank account information on behalf of your organization. This allows donors to make a donation to your organization, but the donor's receipt will include the fiscal sponsor's tax-deductible EIN, allowing them to submit their donation as tax-deductible (donors should always consult a tax professional to determine what portion of the donation, if any, may be claimed as a charitable deduction).
To begin, the sponsored organization (the organization requiring fiscal sponsorship), would create their profile on GiveGab.
Next, the sponsored organization would invite a representative from the fiscal sponsor organization to be an administrator. This allows the fiscal sponsor to add the necessary organization verification and bank account details, and to view donation reports.
Once the fiscal sponsor's information is verified, the sponsored organization can begin fundraising!