Fiscal Agents

How to Apply with a Fiscal Agent

Fiscal Agent organizations should create their Profile in GO Smart.

The applicant organization will create their own Profile and online application, using their own information to complete the Project Contact Information page. Check "Pay Fiscal Agent" on the question"If this grant application is funded, should payments be sent to the contact and address above?"and then enter the fiscal agent's organization name in the space provided.

A copy of the letter from the IRS stating that the application for tax exempt status has been received or a copy of the application submitted to the IRS is required with the GO Smart application support materials.

General Information

A non-profit organization with tax-exempt status may act as a fiscal agent for an applicant organization that has applied, but not yet received its tax-exempt status. In cases where a grantee is using a fiscal agent, the fiscal agent, as well as the grantee organization, are fiscally and legally responsible for all grant requirements.

The fiscal agent is responsible for the expenditure of all project funds and is liable for the repayment of any grant funds not spent or spent incorrectly. The fiscal agent may charge the grantee for its services.

When the grant is awarded, the fiscal agent and grantee sign the grant agreement agreeing to all its terms. The fiscal agent receives the grant payment directly from the Arts Council. It is strongly recommended that the fiscal agent handle the accounting for the grant by receiving all income and paying all expenses for the project. It is allowable to charge the grantee for this service or have the cost included in the budget as a grant expense. The fiscal agent can transfer the grant payments to the grantee who would then handle the grant expenditures, but the fiscal agent would still be responsible for these expenditures.

The fiscal agent and the grantee sign the final report certifying its accuracy. The fiscal agent is liable for the repayment of any grant funds not spent or misspent. The fiscal agent should be aware that receiving these additional grant dollars may increase its audit obligations to the Arts Council, Office of State Budget and Management or the Office of the State Auditor. For more information, please call (919) 807-6515.