Why does WMM charge a 5% administrative fee for most grants?
As a fiscal sponsor, we are legally responsible for the funds received on behalf of your sponsored project and we must insure that the project uses the funds for non-commercial charitable activities in accordance with the agreed upon terms between the donor and your project, and that the donor reporting requirements are met by the project in a timely fashion. In order to do this, we set up financial and database files to keep track of your project; acknowledge contributions to donors for tax purposes; prepare End-of-the-Year reports; send out 1099’s to your consultants and report on them to the IRS. Our accountants also must audit your files and we must pay them to do that. The 5% fee we charge for all grants, with the exception of the National Endowment for the Humanities and State Humanities Council grants (for which we charge 7%), is below the industry standard of 7-10%. As a result, the administrative fees barely cover the cost of running the program. back to top Why do you charge
