AAI’s fiscal sponsorship program assists organizations that have not yet received their 501(c) (3) letter of determination from the Internal Revenue Service.
The program positions AAI to serve as the fiscal sponsor for organizations and projects that: are not interested in seeking an IRS 501(c)(3) status; are awaiting their IRS 501(c)(3) approval; or are conducting a feasibility test to determine if their mission resonates in the U.S. philanthropic market. Typically this service is appropriate for well-run African institutions that want to have access to the U.S. donor communities.
- Transparency in the management of funds
- Easy access to your account status
- Competitive administrative fees
- Wide array of giving options (mail, email, online, pledges etc.)
Areas of Interest:
AAI is highly selective and administers a rigorous vetting process. Sectors and issue areas which AAI typically considers are the following:
- Higher Education
- Children and Youth
- Vocational and Technical Training
- Leadership and Management Training
Applications are accepted on a rolling basis and reviewed quarterly. Applicants must submit a cover letter to Brian McGinley, AAI’s Development Director, at firstname.lastname@example.org. In the letter, applications should briefly describe the program or organizational mission prior to being sent a formal application. The no-fee application will ask for specific information, including but not limited to the following:
- Organizational history
- Board of Directors
- Proof of domestic incorporation
- Financial audit
- Program Menu
- Three (3) testimonials from public and private donors or strategic partners
If an application is approved by the AAI management team, a Fiscal Sponsorship Agreement, will be issued to the applicant and must be executed within 30 days from receipt. The agreement is a legally binding document, which is bound by New York State, IRS and related Federal laws governing international financial transactions.
AAI looks forward to having the opportunity to support your organization’s philanthropic goals. Contact us today!