Item4d.JesusPantel-FiscalSponsorshipUpdate — original pdf

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Fiscal Sponsorship Update Jesús Pantel Cultural Funding Supervisor Economic Development Department February 24, 2022 C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 1 Historic Use • Mandatory in Core and Cultural Heritage Festivals • Optional in Community Initiatives C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 2 Fiscal Sponsor Requirements • 501(c) located in Austin/ETJ • Salaried Executive Director • $50,000 annual operating budget and 1-year existence • $35,000 annual operating budget and 3-years existence C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 3 Fiscal Sponsorship Fee • Up to 10% of COA award o No dollar limit on max fee o Most charge 10% o Some charge 5% or 8% • Membership fee • Insurance C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 4 Fiscal Sponsor Services • Insurance o Included in Fiscal Sponsorship fee o Reduced cost o Not provided • Fiduciary responsibility o Review and submit application o Review and submit final report o Reimburse City if needed C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 5 Fiscal Sponsorship Statistics • 426 total Cultural Contracts • 228 Sponsored Projects (53.52%) • 35 Fiscal Sponsors o 13 have 1 Sponsored Project (37.14%) o 10 have 2 – 5 Sponsored Projects (28.57%) o 4 have 6 – 10 Sponsored Projects (11.43%) o 5 have 11 – 20 Sponsored Projects (14.29%) o 3 have 20+ Sponsored Projects (8.57%) C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 6 C I T Y O F A U S T I N E C O N O M I C D E V E L O P M E N T 7