Many individuals, foundations, corporations or governmental organizations restrict funding of independent projects to tax-exempt organizations. To address this situation, IFP/Chicago (an established tax-exempt public charity under section 501(c)(3) of the Internal Revenue Code) has created the IFP/Chicago Fiscal Sponsorship Program. The Fiscal Sponsorship program at IFP/Chicago has been designed to assist media artists who are members of IFP/Chicago seeking grants and/or contributions from sources which require a federal exempt tax status, i.e., a non-profit organizational status. For individual contributors, this arrangement allows for charitable contribution deductions on federal tax returns. Selected projects will be allowed to use IFP/Chicago’s federal exempt tax status to individuals under the following conditions:

•Applicant must be a Member of IFP/Chicago in good standing;
•The project must be noncommercial in nature;
•The individual media artist must sign a contract with IFP/Chicago which states the artist guarantees grant monies received will be used for the purpose intended; that artist will be responsible for fines, return of grant monies, etc. if grant is rescinded or the IRS questions the accounting for the grant monies; and that artist will be responsible for any final reports and accounting to the granting agency.
•Artist agrees to credit IFP/Chicago on project being served.

Once the IFP/Chicago Fiscal Sponsorship Program accepts your project, donors may make tax-deductible contributions to IFP/Chicago, requesting that the funds be applied toward your project. IFP/Chicago will make its various programs available to you, monitor your project to ensure that the project advances IFP/Chicago’s charitable and educational purposes and disburse the contributions received, minus the fee. You will be responsible for providing IFP/Chicago with periodic reports of the status of your project and the use of the funds.

IFP/Chicago does not control the content of the project and is not connected, in any way, to the actual production of your project. All right, title and interest in and to the completed project belongs to the filmmaker allowing them complete artistic and creative control.

Download the Fiscal Sponsorship Application!

Questions about Fiscal Sponsorship? Email us!