Preserve Rhode Island acts as a “Fiscal Sponsor” for projects that advance our mission to advocate for and steward Rhode Island’s historic places. Fiscal sponsorship is an effective and efficient mechanism – both to start new non-profits as well as to provide financial and administrative infrastructure for special projects for existing non-profits and governmental agencies.
Groups frequently seek to conduct a program or project that is related to PRI’s mission, but have not incorporated or obtained IRS recognition as a 501(c)(3) non-profit organization. They may request that PRI sponsor their project as an incubator while their organization is formed. In addition, groups that are already tax exempt charities or governmental entities may embrace a fiscal sponsorship by PRI as a means to enhance back office efficiencies and realize cost savings. Fiscal Sponsorships often extend beyond “pass-through” arrangements – to nourish capacity of the sponsored groups, thus strengthening the historic preservation sector in Rhode Island.
When PRI acts as a Fiscal Sponsor, we fulfill all legal, tax and regulatory requirements of charitable organizations, extending that charitable umbrella to the sponsored project. PRI manages grants, donations, funds, assets including budgeting and annual financial audit. PRI assumes the financial and legal responsibility for the sponsored projects.
PRI uses sponsored project funds and assets only for their specified purposes, and maintains separate accounts for the management, stewardship and reporting of sponsored activities. Sponsors conform to PRI’s operational policies and procedures, and agree to conduct projects in ways that do not place PRI’s own charitable status in jeopardy. PRI and the group enter into a Memorandum of Agreement that specifies the “do's and don’ts” of the Fiscal Sponsorship.
Request for Proposals: Rhode Island Historic Preservation Conference Analysis/Recommendations (due 12/1/2021)
Heritage Grants Administration, RI Historic Preservation & Heritage Commission
Sandy Grants Administration, RI Historic Preservation & Heritage Commission
Protecting the Past RI, RI Office of Library and Information Services
North Providence: A History and the People who Shaped It, Municipal Heritage Group
Beautiful Rhode Island, Townscape Institute
Winslow Triangle Beautification, Dana Foundation
Historic Tours of Rhode Island, Rhode Island Council for the Humanities
Tinker Bristol, The Rhode Island Foundation
Hale House Programs, Matunuck Preservation Society
For more information, contact Executive Director Valerie Talmage by email or at (401) 272-5101 ext. 203.