What is Fiscal Sponsorship?
A fiscal sponsor is a nonprofit organization that provides fiduciary oversight, financial management, and other administrative services to help build the capacity of charitable projects. Using a fiscal sponsorship arrangement offers a way for a cause to attract donors and grants. In essence, the fiscal sponsor serves as the administrative "home" of the cause. Charitable contributions are given to the fiscal sponsor, which then grants them to support the cause.
The role of the fiscal sponsor can include performing many different administrative functions on behalf of the sponsored organization or program, including taking on the responsibility of receiving and administering charitable contributions on behalf of the sponsored organization. Some fiscal sponsors do a lot more, such as performing back-office functions including financial management, human resources management and compliance and risk management.
What is Social Equity?
First, let’s start with what equity is. Equity is the quality of being fair and impartial. Social equity is impartiality, fairness and justice for all people in society. Social equity takes into account systemic inequalities to ensure everyone in a community has access to the same opportunities and outcomes. Equity of all kinds acknowledges that inequalities exist and works to eliminate them.
We are Leveraging Fiscal Sponsorship for Social Equity!
Across Canada, grassroots activists, leaders, and advocates are organizing to advance social equity in their communities. But many of those leaders have struggled to access sufficient resources, including the platform provided by fiscal sponsors like Narrow Roads charity.
Narrow Roads charity has committed to an ongoing process of self-inquiry and action to center social equity both within its organization and among its peers in the fiscal sponsorship community. As part of this process, Narrow Roads charity is open to partnerships that might address the needs of grassroots groups by leveraging their assets, skills, resources, expertise, and networks.
We acknowledge that the people and communities most impacted by social inequity have long led work toward equity and justice, and it is the position of our organization that supporting social equity requires centering and amplifying their leadership, experience, and expertise.
We also acknowledge that grassroots groups are not a monolith, and so need resources to find the fiscal sponsor that best meets their unique needs, shares their values, will collaborate in a culturally relevant way, and understands the challenges BIPOC leaders face.
Funders and investors nationwide have declared their desire and intent to increase investment in Black, Indigenous and People of Colour (BIPOC) leaders and innovative organizations facilitating change in communities. Many of these leaders and organizations do not have their tax-exempt or charity status, so fiscal sponsors have been a crucial partner and a player in the ecosystem promoting social equity in Canada.
