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💬 Incorporate new wording
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1 changed files with 91 additions and 91 deletions
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@ -250,7 +250,6 @@ export default function FiscalSponsorship() {
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<FlexCol gap={4} alignItems="center">
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<Text variant="ultratitle">Fiscal sponsorship</Text>
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<Text variant="title">
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The fast track to{' '}
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<Text
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sx={{
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color: 'red',
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@ -259,72 +258,72 @@ export default function FiscalSponsorship() {
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>
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501(c)(3) nonprofit{' '}
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</Text>
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status for your startup
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status in just 24 hours for your mission
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</Text>
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</FlexCol>
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<Text variant="headline">
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Building a project, event, or organization on a mission to serve the
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public good or your community? Obtaining 501(c)(3) public charity
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status in the U.S. just got easier through fiscal sponsorship.
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Organizing an event, project, or organization to
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serve the public good or your community? Consider
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fiscal sponsorship before the pain of paperwork
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distracts you from your goals.
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</Text>
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<FlexCol gap={1} alignItems="center">
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<Text variant="headline">Jump to:</Text>
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<BulletBox padding="0">
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<Link sx={{ fontSize: 2 }} href="#costs-and-perks">
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Costs and perks of 501(c)(3) status
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</Link>
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<Link sx={{ fontSize: 2 }} href="#what-is">
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What’s Fiscal Sponsorship?
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How fiscal sponsorship works
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</Link>
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<Link sx={{ fontSize: 2 }} href="#requirements">
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Requirements for Fiscal Sponsorship
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Requirements for fiscal sponsorship
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</Link>
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<Link sx={{ fontSize: 2 }} href="#partner">
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Partner with Hack Club Bank
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Hack Club Bank, the #1 fiscal sponsor
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</Link>
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</BulletBox>
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</FlexCol>
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<>
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<Section id="costs-and-perks">
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<Text variant="title">Why organizers go after 501(c)(3) status</Text>
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<Text variant="lead">
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Every year, thousands of organizations from around the world apply
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through the IRS to become a U.S. 501(c)(3) for charitable
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recognition and tax exemptions. The process for obtaining legal
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status can take anywhere from 2-12 months, and as a nonprofit
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organizer, it’s important to know that this can mean:
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Every year, 1.6 million nonprofits in the U.S.
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apply for and renew 501(c)(3) status through
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the IRS for charitable recognition and tax
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exemption for their funding. It can take anywhere
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from 2-12 months to hear a decision back from the
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IRS, and in general, nonprofit organizers should be prepared for:
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</Text>
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<BulletBox>
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<Bullet glow={false} icon="sad">
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$3,000 in up-front costs, from filing different applications and
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forms to support from legal counsel.
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$3,000 in <b>up-front costs</b>, from
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<Link
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href="https://www.irs.gov/charities-non-profits/form-1023-and-1023-ez-amount-of-user-fee"
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> forms </Link>
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to state fees to support from legal counsel
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</Bullet>
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<Bullet glow={false} icon="sad">
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The potential for the IRS to reject an application (and not
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return your money).
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The potential for the IRS to <b>reject</b> an application
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</Bullet>
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<Bullet glow={false} icon="sad">
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An annual filing fee of $2,500.
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<b>Hiring</b> bookkeepers and accountants to prepare taxes
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and provide upkeep annually to stay in good standing
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</Bullet>
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<Bullet glow={false} icon="sad">
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Hiring bookkeepers and accountants to prepare taxes and provide
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upkeep to stay in good standing.
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</Bullet>
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<Bullet glow={false} icon="sad">
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Up to $5,000 to close down shop if you lose or terminate status.
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<b>Closing costs</b> averaging around $5,000 if you
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lose or terminate status
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</Bullet>
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</BulletBox>
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</>
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</Section>
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<Text variant="lead">
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Unfortunately, between the price and time needed to organize a
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nonprofit, these barriers prevent many charitable initiatives from
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exiting an idea phase to go on to making a valuable impact
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throughout the world.
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Legal status sounds great and all,
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but why go through the hassle of applying
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when it’s so expensive and time consuming?
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</Text>
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<Text variant="lead">
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So 501(c)(3) status is cool and all, but why go through the hassle
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of applying when it’s so expensive and time consuming?
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</Text>
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<Text variant="headline">
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As a legally recognized 501(c)(3) nonprofit in the U.S., there are
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loads of legal tax benefits that make the status worth it, like:
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Because as a legally recognized 501(c)(3) nonprofit in the U.S.,
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your organization gains access to loads of legal tax benefits like:
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</Text>
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<BulletBox>
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<Bullet icon="payment">
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@ -332,8 +331,8 @@ export default function FiscalSponsorship() {
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sponsors.
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</Bullet>
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<Bullet icon="member-add">
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Reduced taxable income for your U.S. supporters, which{' '}
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<b>incentivizes giving</b>.
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Reduced taxable income for your U.S. supporters, which
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<b> incentivizes giving</b>.
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</Bullet>
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<Bullet icon="leader">
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<b>Exemption</b> from U.S. federal income tax and unemployment
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@ -349,36 +348,42 @@ export default function FiscalSponsorship() {
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</Bullet>
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</BulletBox>
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<Text variant="lead">
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As it turns out, there’s an alternative route for startups,
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student-led initiatives, or anyone looking to avoid a headache with
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the IRS to obtain all the benefits of 501(c)(3) status. To avoid the
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traditional filing route, go for fiscal sponsorship.
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Unfortunately between the costs and time needed to organize
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a nonprofit, many charitable initiatives are prevented
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from exiting an idea phase or progressing at a pace
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originally hoped. Imagine how much more valuable impact
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could happen on the world if these barriers didn’t exist.
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</Text>
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<Text variant="lead">
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As it turns out, there’s an alternative route for startups,
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student-led initiatives, or anyone looking to avoid a headache
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with the IRS to obtain all the benefits of 501(c)(3) status.
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That’s where fiscal sponsorship comes in.
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</Text>
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<Section id="what-is">
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<Text variant="title">What’s Fiscal Sponsorship?</Text>
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<Text variant="title">Fiscal Sponsorship?</Text>
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<Text variant="lead">
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By legally partnering with an existing nonprofit offering fiscal
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sponsorship, projects and events can claim all the legal benefits
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of individual 501(c)(3) status. Piggy-backing off this existing
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status, organizations also gain access to resources from their
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fiscal sponsor like:
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By legally working with an existing nonprofit offering
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fiscal sponsorship, projects and events can claim most
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of the legal benefits of individual 501(c)(3) status.
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Piggy-backing off this existing status, organizations
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also gain access to resources from their fiscal sponsor like:
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</Text>
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<BulletBox>
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<Bullet icon="docs">
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Bookkeeping and administration ensuring that all paperwork and
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taxes are filed.
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Bookkeeping and administration to ensure that all paperwork and
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taxes are filed
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</Bullet>
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<Bullet icon="bag">
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Fully established HR and benefits, which can vary by the fiscal
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sponsor.
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sponsor
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</Bullet>
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<Bullet icon="admin">
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A board of directors - you don’t have to organize your own!
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Waived responsibility to organize a board of directors
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</Bullet>
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<Bullet icon="payment">
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Fully transparent operational fees, typically ranging from 7-12%
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that prevent you from paying operating costs.
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that prevent you from paying typical operating costs.
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</Bullet>
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<Bullet icon="door-leave">
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The ability to terminate your fiscal sponsorship agreement and
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@ -391,73 +396,68 @@ export default function FiscalSponsorship() {
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manage your finances and gauge whether becoming an independent
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nonprofit down the line is practical or financially feasible.
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</Text>
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<Text variant="lead">
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Fiscal sponsorship makes it so that hacks aren’t just for folding
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that stubborn fitted sheet or sending an email to hundreds of
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people in seconds; they’re also for obtaining nonprofit status.
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</Text>
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</Section>
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<Section id="requirements">
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<Text variant="title">Requirements for Fiscal Sponsorship</Text>
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<Text variant="lead">
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Depending on the fiscal sponsor you choose, requirements for
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working together can vary. Fiscal sponsors generally ask that your
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nonprofit’s goals be similar to theirs. They usually also ask that
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your organization or event commits to remaining charitable in
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nature and refrains from activites that may result in loss of
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501(c)(3) status.
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Depending on the fiscal sponsor you choose,
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requirements for working together can vary.
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Fiscal sponsors generally ask that your nonprofit’s
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goals be similar to theirs. They also usually ask
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that your organization or event commits to remaining
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charitable in nature and refrains from activities that
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may result in loss of 501(c)(3) status.
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</Text>
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</Section>
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<Section id="partner">
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<Text variant="title">Partner with Hack Club Bank</Text>
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<Text variant="title">
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Hack Club Bank, the #1 fiscal sponsor
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</Text>
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<Text variant="lead">
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While many fiscal sponsors require that their partners relate to
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their mission in similar ways, at Hack Club Bank, we’ve
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built our infrastructure to support hundreds of causes in all
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areas of charitability. Check out some of the resources we’ve
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built our fiscal sponsorship foundation on:
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While many fiscal sponsors require that their partners relate
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to their mission in similar ways, at Hack Club Bank, we’ve built
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our infrastructure to support hundreds of causes in all areas of
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charitability.
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</Text>
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<Text variant="lead">
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Check out some of the resources we’ve built our fiscal
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sponsorship foundation on:
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</Text>
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<BulletBox>
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<Bullet icon="bank-account">
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A web interface that looks and operates just like a bank account
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A beautiful web interface to manage finances
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</Bullet>
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<Bullet icon="card">
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<Bullet icon="transactions">
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Fee-free invoicing, ACH or check transfers, and reimbursements
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</Bullet>
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<Bullet icon="link">
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A customizable and embeddable donations URL
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</Bullet>
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<Bullet icon="google">
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Perks like Google Workspace, PVSA certification, and 1Password
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credits
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<Bullet icon="card-add">
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A bank account and routing number to connect to external
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platforms, like Shopify and GoFundMe
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</Bullet>
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<Bullet icon="purse" href="https://bank.hackclub.com/hq">
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Optional transparency mode to show off finances to donors and
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the public
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</Bullet>
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<Bullet icon="friend">
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24 hour weekday turnaround time from a full-time support team
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for all queries
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</Bullet>
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<Bullet icon="everything" href="http://hackclub.com/bank">
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...and more!
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<Bullet icon="purse">
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Perks like PVSA certification, newsletter software,
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and 1Password credits
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</Bullet>
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</BulletBox>
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<Text variant="lead">
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Looking for nonprofit status and not a religious or political
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organization? We’d love to meet you and chat about working
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together. Feel free to apply here or email our team if you have
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more questions about fiscal sponsorship!
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together. Feel free to apply
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<Link href="https://hackclub.com/bank/#apply"> here </Link>or
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<Link href="mailto:bank@hackclub.com"> email our team </Link>if you have more questions about fiscal sponsorship!
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</Text>
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</Section>
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<Text variant="lead">
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At its core, Hack Club is a nonprofit encouraging students to learn
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how to code by building and making cool things.
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Hack Club Bank was built out by teenagers at Hack Club and
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continues to be a real-world space that teens can hack on every day.
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Hack Club Bank was built out by teenagers at Hack Club and
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continues to be a real-world space that high schoolers can contribute to
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every day.
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</Text>
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</FlexCol>
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</Container>
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