As per the terms of our program agreement, Fractured Atlas maintains ownership over all funds donated to our fiscal sponsorship program, even after the funds are disbursed. As such, we may require that our fiscally-sponsored projects return funds to us under certain conditions.
While this is a relatively uncommon occurrence, here is a list of examples for when we might require that disbursed funds be returned to us. Please note that this list is by no means exhaustive, and there may be edge cases that are not reflected on this list.
- The fiscally-sponsored project violates the terms & conditions of our program agreement, which includes the policies outlined in the Knowledge Base.
- The fiscally-sponsored project has disbursed funds that are unspent after 90 days.
- The fiscally-sponsored project disburses funds that were not intended for its use (accidental duplicate donations, donations that were incorrectly designated, etc.).
- An institutional funder (foundation, arts council, government entity, etc.) terminates a grant agreement with a fiscally-sponsored project, prompting the funder to request return of funds.
- A donor successfully disputes a credit card charge after the fiscally-sponsored project has disbursed the contributed funds.
- The deposit of a donation or grant check is unable to be completed by our bank, requiring that the payment be reissued.
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