Frequently Asked Questions
Q: Why does the Fiscal Sponsorship Program have an application process?
A: Because FC is responsible for monitoring the funds of all of its fiscally sponsored projects, we must ensure that project activities are conducted according to IRS regulations, and we must provide fiscal oversight of contributions received. This is accomplished through an application process; through a sponsorship agreement between FC and the filmmaker that governs the relationship; and through regular quarterly grant monitoring.
Q: How are in-kind contributions handled?
A: Generally the IRS does not allow tax deductions for individuals donating goods or services to a 501c3 project. filmmakers may accept in-kind contributions themselves, and must report them to FC as part of the overall funding for the project.
Q: Do FC filmmakers have to live in Massachusetts?
A: No. FC is a national organization that accepts filmmakers and projects from a ll over the country. International projects are also welcomed, as long as there is a U.S. component and the funding comes from U.S. sources.