SECTION 1: PURPOSE
To allow the Institute of the Diaspora for International Education (Institute) to accept donations and manage funds from other organizations for the promotion of an activity that is substantially similar or complimentary of the activities of the Institute.

SECTION 2: POLICY
The Institute can act as the fiscal sponsor by administering all aspects of fiscal management for the activity, including but not limited to processing checks, managing funds, and assisting in quarterly reports to the funding agencies.

SECTION 3: PROCESS
Fiscal sponsorship proposals will be evaluated in the following manner:

1. A written proposal shall be submitted to the Board of Directors. The proposal must include a description of the project activity; identify funding sources that support the project proposal; describe how the project activity will further the Institute’s Mission and Objectives; and explain how expenses will be documented.

2. The Board of Directors will review the proposal and determine how the project activity supports the goals and objectives of the Institute and make a recommendation. If the Board of Directors supports the proposal, the proposal will be forwarded to the Executive Director to commence sponsorship of the Project.

3. Only overall budgets of $5,000 or more will qualify.

SECTION 4: GUIDELINES

The Diaspora Institute has adopted the following Fiscal Sponsorship Guidelines:

4.1 The Institute expects Project Leaders to conduct the primary work of resource development.

4.2 The Institute shall work with the Project’s authorized representative to set up a check release process. Acceptable invoices received by end of business on any Monday will be paid and mailed by end of business on the following Friday (deviations may occur due to Holidays). No funds will be released unless approved by the representative in accordance with the agreed process. The Institute shall not advance money to the Project and only available funds will be disbursed.

4.3 The Institute shall communicate as necessary and appropriate with Project Donor(s) institutional grant-makers, or funding agency(ies) in ways that supplement Project Leader communications. Notwithstanding this, the Institute shall review, approve and sign all contracts, leases, and other legally binding Project commitments.

4.4 The Institute shall provide a quarterly statement of activity within 45 days of each quarter end. Any corrections must be requested within 30 days after receipt of that statement.

4.5 The Institute requires a Fiscal Sponsor administrative fee in the amount of 11% of each overall quarterly budget and shall charge actual costs for all additional expenditures required of the Project and deemed appropriate by the Institute, i.e. additional auditing requirements, additional insurance for project events, overhead costs, etc.

4.6 The Institute requires a list of all individuals involved in the Project and their roles and responsibilities.

4.7 All projects must use a fiscal year ending on June 30.

These policies may be amended from time to time with consent of Project’s authorized representative and the Institute.