How Donations Work
|Donation Procedures for Monetary Contributions |
Donations can be made to your project in the following ways:
1. By a check made out to the San Francisco Film Society with your project name indicated on the memo line.
2. Credit card donation from the Film Society Web site.
3. Via Stock transfer.
The Film Society processes all donations as follows:
1. We receive checks and credit card donations allocated for specific projects
2. Checks are deposited in our bank account. Once they clear our accounting department, a check will be issued to the filmmaker, usually the following week.
3. The Film Society administrative fee is seven percent. For credit card donations, add an additional three percent, for a total of ten percent.
4. Checks are sent out to filmmakers with copies of donor checks for your records. You are notified about credit card transactions electronically.
5. We suggest you contact contributors directly with thank-you notes. Keep these in your files for your reference.
6. The Film Society will send a letter for donations of $250 or more, in accordance with IRS regulations, stating the tax-deductible donation was received.
Donation Procedures for Non-Monetary Contributions
1. Only monetary donations processed through the Film Society are eligible for a tax receipt, which we will provide directly.
2. The Film Society cannot provide tax receipts for non-monetary items, which also means that you cannot provide receipts for these items in the Film Society’s name or with our tax ID.
3. The receipts you provide are an acknowledgment of the receipt of goods or services to your project; this is not a tax receipt since these contributions cannot be processed through the Film Society as your fiscal sponsor.
4. If someone makes a monetary donation to your project that you accept directly without going through the Film Society, you can issue them a receipt yourself. This is not a tax receipt.
Reports to the Film Society
Twice a year the Film Society requires a status report from each filmmaker.
1. The reporting periods are
* Mid-year: January 1–June 30, due by July 15 each year
* Year-end: January 1–December 31, due by January 15 each year
2. Current project budgets as of the end of each reporting period are required with each report.
3. The Film Society issues a report template for all projects. You will be asked to provide the following information:
* Current full budget for the end of the period, including income and expenses.
* The amount you have raised for your project to date
* The amount you have raised through the Film Society
* The amount you have raised that was not administered by the Film Society
* Who you received contributions from and how much
* What phase the project is in
* Expected end date
* Whether the project still requires fiscal sponsorship
* How much you still need to raise
* Updated contact information (if applicable)
4. All reports must be kept up to date and submitted on time to keep your fiscal sponsorship active.
Reports to Funding Organizations
1. When you receive a fiscally sponsored contribution through a funding organization, they will most likely require a report on how their money was spent.
2. The funding organization will set the deadline.
3. All reports must be submitted to the Film Society either as a copy of the report submitted to the funding organization, or by sending two original copies to the Film Society where the funder requires that the report be submitted from the Film Society directly.
4. As part of your fiscal sponsorship agreement with the Film Society, you agree to represent the Film Society in a way that will not damage our relationship with any funders. As such, all reports must be submitted in full and on time.
5. As your fiscal sponsor, the Film Society is responsible for the funds you receive from funding organizations for your project, failure to meet the requirements of the funding organization may result in their asking for their funds to be returned. If this happens, you will be required to return the funds, and your fiscal sponsorship will be terminated.
Keeping Your Fiscal Sponsorship Active
1. Submit all reports and budgets to the Film Society and funding organizations in full and on time.
2. Keep your Film Society membership current.
3. Acknowledge the Film Society as your fiscal sponsor on all promotional materials and in your project credits. Download SFFS logo.
4. If the above is not in good standing, then your fiscal sponsorship will become inactive, and we will not be able to process donations to your project. Failure to provide Mid and End of Year Reports 10 days after the due date will result in termination of Fiscal Sponsorship. Reinstatement fees of $25 and an updated proposal is required to reactivate sponsorship. Projects out of status for more than 5 months but still wanting fiscal sponsorship must complete a new application and pay the $40 fee.
HOW IT WORKS
HOW DONATIONS WORK