Readiness Evaluation

Here is a checklist of considerations before you enter into a fiscal sponsorship relationship.

I have an artist’s statement or mission statement for my project.
This should be short and sweet – not more than 3 sentences. Who are you? What do you do? Why do you do it?

I have identified possible income that requires a fiscal sponsor.
Common sources include:
Individual donations
In-kind donations (donations of goods – supplies, tools, equipment, silent auction items, etc.)

My project has a budget.
A list of tips to creating a good budget is here.
You can download a simplified budget template here.

My project has a reasonable timeline.
The grant process often takes several months – if you plan to seek grant funding, be aware of the funder’s deadlines and timetables for decisions, disbursements, and reporting requirements.

I know what my business structure is.
Some examples are:
Sole proprietorship/individual artist
Nonprofit incorporation
Nonprofit project affiliated with a different company

I have a separate bank account for my arts business/organization.
While this is not strictly necessary, it is highly, highly recommended to help keep track of your project’s income and expenses.

I have a bookkeeping system.
This does not have to be fancy – a spreadsheet, a check register, and a separate account are good places to start.


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