How does my fiscally sponsored organization set up News RevEngine?
A configuration guide detailing how fiscally sponsored organizations utilize a sponsor’s tax ID and bank details to collect donations via RevEngine.
News organizations that operate with fiscal sponsors can use RevEngine to collect donations from their supporters.
In this article, you’ll learn how fiscal sponsorship works and how to configure your RevEngine account if you are fiscally sponsored.
What is fiscal sponsorship?
Fiscal sponsorship allows a new nonprofit project to attach to a larger organization, such as a university or community foundation, that has a similar mission and already has nonprofit tax status.
- Fiscal sponsorship allows organizations to use their sponsor’s nonprofit tax status to collect tax-deductible donations and apply for grants.
- Some organizations pursue fiscal sponsorship as an interim measure as they wait for their own nonprofit status to become official.
- Some organizations stay fiscally sponsored long-term and allow their sponsor to take care of many of the administrative duties that come with running a nonprofit.
If you are fiscally sponsored by INN, please reach out to us at support@indiegraf.com for assistance.
Our will create and connect your account to Stripe on your behalf.
How to use RevEngine as a fiscally sponsored organization
As a fiscally sponsored organization, you can use RevEngine to collect contributions from your audience – the revenue will just have to flow to a bank account held by your sponsor organization.
1. Create an account
If you have not yet created a RevEngine account, you will need to do so before you connect to Stripe. Please see our article on creating an account.
If you are fiscally sponsored, select non-profit as your tax status and use the tax ID of your sponsor.
2. Complete the Stripe connection
Once you create a RevEngine account, you’ll be ready to connect to Stripe. This step will require you to create a NEW Stripe account for exclusive use on our platform - even if you already have a Stripe account, you won’t be able to use it here. For more information on this process, see our guide on how to connect to Stripe.
One critical part of this process is providing a routing and account number for your bank. Since you’ll be using an account held by your sponsor, there are three ways to complete this step, depending on how you and your sponsor want to handle banking information.
- You can complete the Stripe connection yourself with sponsor-provided information.
- Your sponsor can provide you with routing information from their bank so you can complete the Stripe connection yourself.
- You can create your RevEngine account and then hand the credentials off to your sponsor to complete the Stripe sign-up.
- This will allow your sponsor to complete the Stripe connection within RevEngine.
- You can ask your sponsoring organization to set up your RevEngine account on your behalf.
- If your sponsor would prefer to set up your RevEngine account themselves, please reach out for our help at support@indiegraf.com
No matter which connection method you choose, you’ll be on your way to creating sustainable reader revenue once you link your Stripe account to your RevEngine profile.