Step 4A: Requirements for Fiscal Agents

A charitable organization or community group that does not have 501(c)(3) tax-exempt status may apply for a grant from the Foundation through a fiscal agent partnership.

To be considered as a Fiscal Agent, the organization must:

  1. Be incorporated as a 501(c)(3) nonprofit organization for a minimum of 3 years
  2. Be physically located in the Albuquerque metropolitan area
  3. Demonstrate the ability to provide oversight of the community group

All proposals must be completed following Step 4: Requirements and Guidelines.

The Charitable Organization or Community Group must supply all other information including:

  1. One-page cover letter on the group’s letterhead (or with address and telephone number) requesting consideration of the grant proposal, describing the group’s mission, and signed by the responsible person
  2. Detailed project budget (line-item estimate of income and expenses)
  3. Copy of the group’s annual budget (if applicable)
  4. List of group’s leadership: organizing committee, board of directors, or staff personnel responsible for the project
  5. Narrative description of grant request

The Fiscal Agent must supply:

  1. Letter on the fiscal agent organization’s letterhead indicating:
    • Willingness to administer the grant if awarded
    • Nature of cooperative relationship between the two entities
    • Name of executive director and contact for this grant proposal
    • Any fee to be paid from the grant for custodial services
  2. IRS letter indicating 501(c)(3) tax-exempt status
  3. Attorney General’s confirmation letter
  4. Copy of the fiscal agent’s most recent financial statement including balance sheet
  5. List of the fiscal agent’s Board of Directors with their affiliations

The fiscal agent is responsible for all financial requirements and reporting if the grant is awarded, including:

  • The fiscal agent is required to sign the Foundation Grant Agreement.
  • The fiscal agent may redistribute grant funds to grantee in accordance with the accepted proposal budget. Any changes in the budget must be approved by the Foundation.
  • At the end of the one-year grant period the fiscal agent will return to the Foundation any unexpended funds.
  • The fiscal agent is responsible for the expenditure of funds and for maintaining supporting records adequate to readily check the use of the grant and consistent with generally acceptable accounting practices.
  • The fiscal agent shares the responsibility for required grant progress reports in conjunction with the partnering organization.

If the organization does NOT complete the program as outlined in the grant proposal, the fiscal agent is responsible for any and all grantee reports due, accounting of all expenditures from the grant and the return of any funds not spent.

Continue to Step 5: How your proposal will be reviewed

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2010 Grant Deadlines

April 7, 2010
Arts & Culture, Education, Environmental & Historic Preservation

July 21, 2010
Children & Youth At-Risk, Health, and Human Services

Proposals should be delivered by 4:00; or postmarked by the dates listed.