In order to allow sponsored projects to access the benefits of a Fractured Atlas's 501(c)(3) status, we must provide oversight over the funds processed through our program. We ask for fund release documentation and require it in some cases to maintain discretion and control of funds donated for charitable purposes. The oversight is necessary to confirm that the funds are being used for appropriate expenses related to the charitable activities that were approved by the fiscal sponsor’s Board. A charity cannot spend funds for purposes unrelated to their mission, so a fiscal sponsor needs to make sure the funds released to its fiscally sponsored projects are being used for charitable expenses.
For all fund release requests of $5,000 or more, you will be asked to provide documentation of your expenses. Please don’t try to dodge this rule by requesting $4,999. Documentation can be submitted by uploading the document(s) to the fund release request form, delivering in person, or submitting via email or fax. If documentation is required, the fund release will not be approved until the documentation is received.
Fractured Atlas reserves the right to request documentation of expenses for fund release requests of any amount and to request additional documentation if what is provided is insufficient. We try to have documentation on file for every project that releases funds through our program, so please be prepared to submit documentation at any time, especially if you are requesting larger amounts even if they are less than $5,000.
For more information about acceptable documentation of expenses, please see this article on Fund Release Documentation.