Since all funds released through our fiscal sponsorship program are considered taxable income according to the IRS, it is essential that we have the correct and accurate legal entity information on file for tax purposes. The legal entity is the individual or business entity responsible for reporting the income we disburse on their tax return to the IRS.
Fractured Atlas staff can change the legal entity associated with your fiscal sponsorship. To get started, please email us at firstname.lastname@example.org with the following details:
- Legal name of the new entity
- New tax ID (EIN or SSN)
- Name of the legal signatory for the new entity
- Type of legal entity (Corporation, LLC, Individual/Sole Proprietor, Informal entity w/ EIN)
- Residency status (U.S. Citizen or Non-Resident Alien or Resident Alien)
We’ll put together an amendment to our grant agreement to be signed by the new and former entities. Once we have the fully executed agreement, we can change the legal entity on file for your fiscal sponsorship for tax purposes.