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Sierra Nevada Alliance PO Box 7989 South Lake Tahoe, CA 96158 Fiscal SponsorshipThe Foothills Water Network does not have its own non-profit tax-exempt status. The Network has a contractual arrangement with the Sierra Nevada Alliance in which the Alliance provides the legal and tax exempt 501(c)3 status to the Network. The Alliance also provides financial tracking and administration of donations and awarded funding. The Network pays 7% of all funding received for the fiscal sponsorship services provided by the Sierra Nevada Alliance. As the fiscal sponsor the Alliance is the responsible entity on all Sponsored Group's grants. Alliance staff must review grant proposals and awards for Sponsored Groups to ensure they are symbiotic with the Alliance's mission, compatible with fiscal status, and the deliverables are doable by the sponsored group. As a fiscal sponsor the Alliance is the lead entity in any contractual agreements. For all transaction, deposits or expenses, Alliance staff manages the checking/saving accounts, enter the data into our its internal databases and bookkeeping software for accounting purposes, and report out all activity to the sponsored group each month. In addition, all donors are sent an acknowledgement letter for tax purposes from the Alliance on behalf of the Sponsored group. |
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Foothills Water Network • PO Box 573 • Coloma, CA • 95613 • 530-919-3219
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