When does a fiscal agent come into play?

If the Health Care Foundation awards a grant to an organization that meets either condition below, the applicant organization must receive its grant funding through a fiscal agent/sponsor:

  • if the grantee organization has applied for a 501(c)(1), 501(c)(3), 501(c)(6) or 501(c)(9) designation, but has not yet officially received that designation from the IRS.
  • If the grantee organization’s financial statements are not audited.

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