Who or what organizations are eligible for fiscal sponsorship?
To be eligible for a fiscal sponsorship from the New Mexico Community Foundation a project must have as its purpose an objective that in some way “serves and invests in New Mexico communities”. The activities of the project must be charitable in purpose. The project must have a written plan indicating the anticipated funding source(s), its purpose(s), the duration (or perpetuity) of the project, tentative budget (not less than $5,000), and information about the person(s) who will be involved in the project. The project, at its inception and before incurring any expenses, must have adequate funds secured to cover two months worth of operations (or the entire project if the project is an “event”). The following are NOT eligible for fiscal sponsorship. • A for-profit entity. • A non-profit corporation. (These organizations might be eligible for an administrative agreement as a non-profit partner.) • Services of an individual which are the sole expenditures of the project and which provide
