December, 2005 – back to fiscalsponsorship.com
SAN FRANCISCO – The most definitive book yet about an area that is gaining interest in the nonprofit sector – fiscal sponsorship – was published in December by Study Center Press.
Nonprofit tax law expert Gregory Colvin brings his seminal 1993 work, “Fiscal Sponsorship: 6 Ways to Do It Right,” up to date in this expanded second edition with 20-plus pages of new material, including recent cases, the latest developments and more in-depth analysis of concepts that were initially explained in the first edition, which has become the bible in the field.
The new material enriches readers’ understanding of the six basic models Colvin described in the first book by laying out the lessons learned during the last dozen years, which have been eventful for the field. A national directory of fiscal sponsors is in the works and million-dollar grants have been awarded to study and help professionalize the field.
“Greg Colvin’s book is simply the best resource one could want in understanding an important and growing strategy to help small and emerging nonprofit activities,” says Drummond Pike, president of the Tides Center, a large fiscal sponsor with projects nationwide. “Whether you call it project sponsorship, fiscal sponsorship, or program incubation, these approaches support the fundamental reason nonprofits exist in the American system: social innovation.”
Colvin’s first edition identified six models of fiscal
sponsorship that had passed IRS muster and it clarified the expectations and
responsibilities of funder, fiscal sponsor and project, popularizing the term “fiscal
sponsor” instead of the longtime incorrect usage of “fiscal agent.”
Now Colvin reaffirms his original work and builds upon its information and analysis with updates, historical perspective, practical advice, and new developments as fiscal sponsorship has gained interest throughout the nonprofit sector.
Marcus S. Owens, the former director of the IRS’ Exempt Organizations Division, says, “With IRS audit activity” involving public charities “on the increase, it is vitally important for every charity that engages in fiscal sponsorship to know the rules and pitfalls. This book covers them all in clear, understandable language.”
The second edition is featured on a new companion Website to the book, fiscalsponsorship.com, and can be obtained from Study Center Press, 1663 Mission St., Suite 504, San Francisco, CA 94103 or call (415) 626-1650. (Casebound $29.95, paperback $19.95.)