Once the Community Partners Board of Directors approves your project, the Project Leader must sign an agreement that outlines the relationship between Community Partners and the Project Leader. Be sure to read the Project Sponsorship Agreement carefully. It is a legally binding contract that outlines the expectations of your relationship with Community Partners, including but not limited to the following:
- Any tangible or intangible property, including intellectual property such as copyrights and trademarks, whether purchased, donated, or created in connection with the project while the Agreement is in effect, will be the property of Community Partners.
- Project Leaders or any project representatives may not enter into agreements on behalf of the project. All contracts for projects must be signed by a representative from Community Partners.
- Projects must have all grant materials reviewed by the programs team prior to sending the materials to a potential funder.
- Projects must maintain an eight-week operating reserve at all times.
- Projects must alert Community Partners if they plan to charge a fee for any product or service prior to doing so.
- In order to hire employees, projects must have an available cash balance that will support all projected payroll and benefits costs along with other operating expenses for at least 6 consecutive months.
- Community Partners will charge an administrative fee for performing services as a fiscal sponsor. Projects must pay an annual minimum administrative charge of $2,000, which is generated when projects bring in revenues.
- Project Leaders must work with their project advisory board to develop and achieve project goals, objectives, and action plans.
- Project Leaders must communicate regularly with the programs team regarding upcoming and ongoing project activities.
- Projects must communicate overall project progress in writing through the Annual Project Report.
- Projects must comply with all of Community Partners’ financial and administrative practices and procedures.
- Projects must remain a project of Community Partners for at least one year from date of sponsorship.
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