Changing or Updating the Legal Entity Associated with Your Project

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. 

In order to update the legal entity associated with your project's fiscal sponsorship, the current and new legal entity will need to sign our Assignment and Assumption agreement. To initiate this process, please:

1. Email us at [e-mail] requesting the change.
2. Once a staff member has confirmed that your project's original fiscal sponsorship application is available for update, log into fs.fracturedatlas.org,
3. Navigate to your My Fiscal Sponsorship Dashboard,
4. Click "Begin My Expansion Application,"
5. Navigate to the Legal Entity section of the application and make any necessary edits,
6. Scroll to the bottom of the page and click "Next,"
7. Review the Assignment and Assumption Agreement and the Fiscal Sponsorship Grant Agreement,
8. Follow the prompts to agree to the agreement or email the agreement to the new signatory, and then
9. Navigate to the end of the application and click "Submit."

Once all parties have signed the necessary documents, our staff will review the update. If we have any questions, we'll reach out to the member of record via email. If we do not have any questions, the legal entity update will be approved and your project will reactivate. 

Please note, you will have seven days to log in and submit the update to the legal entity associated with your project's fiscal sponsorship. If seven days passes without the update being submitted, your project's fiscal sponsorship will automatically end. If you submit the update after seven days have passed, our staff will need to confirm your project's activities first and then we'll be able to reactivate your project's fiscal sponsorship and complete the assignment and assumption process.