The Learners Lab Foundation began as a start-up of volunteer and still is. So we learned, sometimes quite harshly the challenges and shortfalls that exist for those pursuing status as a tax exempt entity. This is true especially with regard to fair market price points, support resources funding, and technical assistance. Our own journey was far many too years in the making and even today more than half a decade later, we still face the barriers as if we were just starting out, and not being recognized or accepted as a Small Business Entity makes that impact even worse. To help eliminate some of these burdens for our peers, The Learners Lab Foundation began as a Fiscal Sponsor and is now building a Economic Development Enterprise as part of its role as a Public Charitable Foundation.
The Learners Lab Foundation supports US entities operating within in the United States, its territories, and the District of Columbia. The Foundation is not chartered to sponsor or engage services on behalf of foreign entities, international organizations, or international operations of any kind, at any level, and will not entertain them.
QUALIFICATIONS & CRITERIA
To qualify The Learners Lab Foundation‘s Fiscal Sponsorship Program, your organization or program must be a US entity located and operating within the United States.
To be eligible, you must meet one of the following criteria:
<> have “held” your tax exempt status for two years or less,
<> be pursuing 501(c) tax exempt designation as defined by the Internal Revenue Service (IRS),
<> be preparing for pursuit as a tax exempt entity in the entrepreneurial stage, or
<> be a for-profit wishing to (a) operate a Charitable Program or (b) transition from for-profit to tax exempt.
Please refer to the guidelines published on www.IRS.gov for eligibility criteria and clarification as to which specific definition of a tax exempt entity applies to your organization or program as there are a number of differing classification types. While the most popular is 501(c)(3), The Foundation serves and supports all 25+ types of tax exempt entities, therefore all types recognized by the IRS are eligible for Fiscal Sponsorship with us.
To review the IRS Tax Exempt Entities by Type, please visit https://www.IRS.gov/Charities-Non-Profits..
The Foundation does not offer sponsorships to charitable-for-profit-entities, which are defined as L3c’s under the Internal Revenue Service (IRS). While we do not offer fiscal sponsorships to L3c’s, support for L3c’s and other entities that desire sponsorship level services without the legal commitment are delivered through our Technical Assistance Service Center (TASC), which is its purpose.
TERMS AND FEES
The Learners Lab Foundation Fiscal Sponsorships are a 2-year, 24 month program. The program can be exercised in 1 2-year term or in consecutive 6-month increments with no breaks in between up to the 2-year mark.
In fairness to other applicants, we cannot entertain program renewals beyond the 24 month, 2-year cycle. Our goal is to approve every applicant that applies which makes that not feasible. Our TASC program is the solution for continued support and access to our Economic Development resources.
Please be advised that Grant and Donation Processing is NOT available in TASC, that is a legally binding obligation which by law requires a fiscal sponsorship commitment.
The Foundation assess two fees for its Fiscal Sponsorship Program:
1) a nominal Application Fee which is non-refundable and based upon the Category selection of the application, and
2) a Program Registration Fee. The Program Registration Fee is a one-time fee and is refundable within the first 5 business days as part of the Program Cancellation. To date, the only cancellations that have been requested are due to the IRS notifying our Incoming Awardee on the approval of their Form 1023-1024 Application making the fiscal sponsorship with us unnecessary.
Both fees are nominal and are required to off set a number of standard and unique cost including legal, compliance, banking and other obligations we incur including compliance accounts we are legally required to establish and maintain on the Awardees behalf that are independent from our own.
For more information on the Program, you can download the Fiscal Sponsorship Program, its applicable fees, and time tables, download the appropriate application for you feel to review the Program Description as well as the actual Fiscal Sponsorship Applications. You can download them as follows:
Fiscal Sponsorship Program Description: TLLF-Fiscal-Sponsorship-Program.pdf
Primary Fiscal Sponsorship: http://TLLF-2021FSApp.docx
Grant & Donation Processing Fiscal Sponsorship: http://TLLF-2021GrantOnlyFSApp.docx
NEED MORE THAN ONE AT THE SAME TIME?
We have learned there are instances where the establishment and or fiscal sponsorship of more than one tax exempt entity is required. As such we have crafted another option for you, its called the Dual-Multiple Entity Fiscal Sponsorship. The DME Application is the same as our Primary FS Application only there are expanded sections to capture information for for up to Four (4) entities. To keep your costs to a minimum, the Application & Registration Fees have been consolidated into one Flat-Fee and discounted as well.
Feel free to download Dual-Multiple Entity Fiscal Sponsorship Application from TLLF-2021-DMEntityFSApp.docx