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Nonprofit Fiscal Agent/Sponsorship

KBLX Weekend Nonprofit Tip Fiscal Sponsors[Sponsorships

 KBLX 102.9 FM Radio (Northern California) Weekend Nonprofit Tip Fiscal Sponsors[Sponsorships

Fiscal Agents and Fiscal Sponsorships
When a charity corporation manages all or a portion of the funds for a community organization that conducts a charitable program but has not completed the full process of becoming a 501c3 (or like nonprofit corporation), that organization can choose to use a fiscal agent/fiscal sponsor, the  purpose of a fiscal agent/fiscal sponsor is to allow the community organization without the 501c3 status to collect grants and donations from its supporters and have its supporters receive tax write offs for their contributions.
Is this legal?  Yes
There are nonprofit corporations whose sole mission is to act as a fiscal agent/fiscal sponsor for a temporary period while the community organization is in the process of applying for its 501c3, before the new community based organization obtains its own tax exemption. Of course, the nonprofit organizations acting as fiscal agent/fiscal sponsor can charge a fee of upwards of 15% of the non tax exempt community based organization’s revenue to provide their service.