Fiscal sponsorships are available through Sultana, a shared service of The Foraker Group.
Understanding that not every new idea needs a new nonprofit and that not every nonprofit is ready to stand on its own, the Foraker Governance Board approved the formation of Sultana New Ventures, LLC in October 2013. Sultana is the Athabascan name for Mt. Foraker. Sultana offers two interdependent services, fiscal sponsorships and a shared employment relationship, for emerging projects or organizations that need time to determine their next steps.
Sultana is an opportunity to incubate a good idea, house initial staff, and provide the stability that funders need to make initial investments. It allows organizational leaders to focus on mission rather than creating a business infrastructure. This solution is not a long-term strategy. Instead, it allows an idea to germinate until it is ready to truly grow into its own structure, or merge into something else, or stop.
Sultana is offered to a limited number of organizations based on their application to the three-member Sultana oversight board and the Foraker President/CEO. Fiscal sponsorships and shared employment arrangements last no longer than five years.
Sultana services are intended for organizations that are in the preliminary stages of their development. They are available to nonprofits that are registered with the state of Alaska and to those that have received their federal 501(c)(3) status. Shared employment is only available as part of Sultana's overall services. The maximum staff for each project or organization is five. Each employee is hired based on the needs of the project or organization and is supervised in conjunction with Sultana. All employees are hired and subject to Sultana's personnel policies and oversight.
For more information, please contact Foraker Vice President/CFO Raju Shankar at email@example.com, or 907-743-1200.