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RE: Receive Tax Deductable Donations for Your Art Project with a Fractured Atlas Fiscal Sponsorship

in #money6 years ago

Thanks for this post, Amanda! It almost seems like you should use Fractured Atlas for the money donations and not the in-kind ones with how complicated that sounds. I don't totally understand why that has to happen.

Also, though, the Jeremy Wilson Foundation is setup the same way as this. If you ever need donations for living expenses during a medical crisis, that's when they setup an account for you just like this. That makes the donations tax-deductible and you don't end up paying income taxes on them. That's actually where I first heard of Fractured Atlas, since we met with them a while back. Let me know how your experience goes!

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Oh, and JWF took a 7% fee, but that was for administrative purposes only. It takes time to track individual accounts like that for people, so I'm all for paying for someone else to handle that, having been on the back end of that process.

Good to know! I don't think I knew exactly how JWF worked but that makes sense. Fractured Atlas's fee is for administration as well.

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