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Incorporating Your Performing Arts Entity

Many performing performing arts companies incorporate as a 501(c)3 non-profit because of the significant advantage with taxes and funding purposes, but there are other options to consider for your business structure.

Choose A Structure

Difference Between Non-Profit and For-Profit Entities

Difference Between Non-Profit and For-Profit Entities What is a Non-Profit Entity? A non-profit, not-for-profit, or NPO, is an organization that does not seek to earn profit for its owners. Rather, all of the money earned is used to keep the organization running and...

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What is Fiscal Sponsorship?

What is Fiscal Sponsorship? Definition of Fiscal Sponsorship in the Performing Arts Fiscal sponsorship is a relationship in which a nonprofit organization (the fiscal sponsor) agrees to accept and manage funds on behalf of another organization or individual project...

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What is a LLC?

What is a LLC in the Performing Arts?Definition of LLC  A Limited Liability Company (LLC) is defined as a legal business entity that limits the company’s members from risk of loss. The owners of an LLC are usually referred to as “members,” as the structure is more of...

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What is a C Corp?

What is a C-Corp?What is a C-Corp, and how does it differ from other types of corporate structures? A C corporation (C corp) is defined as a legal business entity that is taxed separately from its owners or shareholders. This includes performing arts entities. Often...

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What is a Sole Proprietor?

What is a Sole Proprietor?Definition of Sole Proprietor for Those in the Performing Arts A Sole Proprietor is an entity that is not incorporated (as a C-corp, S-corp, or other corporate structure). This includes performing arts entities. As the name implies, sole...

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Register & Apply

Timeline and Steps Towards 501(c)3 Incorporation

Timeline and Steps Towards 501(c)3 IncorporationIncorporating as a 501(c)3 nonprofit organization can be a lengthy and complex process. Below is an outline of the general steps and timeline toward achieving non-profit status. We recommend working with a lawyer to...

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What Do I Need to Apply for Fiscal Sponsorship?

What Do I Need to Apply for Fiscal Sponsorship?The specific requirements for applying to different fiscal sponsorship programs will vary depending on the nonprofit that is offering fiscal sponsorship. There is no downside to contacting a prospective fiscal sponsor...

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Build Your Startup

Determining Pay Rates for Your Team

Considerations for Determining Pay RatesDetermining How Much to Pay Your Team Pentacle recommends using the W.A.G.E. calculator to get a sense for how much established institutions are paying for artistic services. Employers can also input their annual budget to see a...

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Top CRMs for Non-Profit Entities

Top CRMs for Non-Profit EntitiesSalesforce Salesforce is a widely used CRM system that offers robust features and customization options. Nonprofits can use Salesforce's Nonprofit Success Pack (NPSP), which includes features tailored to the needs of nonprofit...

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Employee versus Independent Contractor

Employee vs. Independent ContractorWhat’s the difference between an employee and an independent contractor? The payment for an independent contractor is performance-based and is determined by the completion of the service they provide while an employee's payment is...

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Fiscal Sponsorship as a Business Model

When fiscally sponsored by a non-profit organization, you’re given access to many of the benefits that 501(c)3 incorporations receive without the administrative burden.

What is Fiscal Sponsorship?

What is Fiscal Sponsorship?

What is Fiscal Sponsorship? Definition of Fiscal Sponsorship in the Performing Arts Fiscal sponsorship is a relationship in which a nonprofit organization (the fiscal sponsor) agrees to accept and manage funds on behalf of another organization or individual project...

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History of Fiscal Sponsorship

History of Fiscal SponsorshipWhere does Fiscal Sponsorship in the United States Come From? Fiscal sponsorship, the practice of one nonprofit organization providing administrative and financial support to another organization or project that lacks 501(c)(3) status, has...

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5 Ways That You Can Benefit From Fiscal Sponsorship

5 Ways That You Can Benefit From Fiscal SponsorshipFiscal Sponsorship Has Both Financial and Administrative Benefits   Fiscal Sponsorship has many financial and administrative benefits. Fiscal sponsorship refers to the practice of non-profit organizations...

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Choose a Fiscal Sponsor

Determining the Right Fiscal Sponsor for You

Determining the Right Fiscal Sponsorship for YouTo get a fiscal sponsor, you will need to identify potential fiscal sponsors that align with your mission and work. Below are some things to consider. Research potential fiscal sponsorsLook for organizations with a...

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What Do I Need to Apply for Fiscal Sponsorship?

What Do I Need to Apply for Fiscal Sponsorship?The specific requirements for applying to different fiscal sponsorship programs will vary depending on the nonprofit that is offering fiscal sponsorship. There is no downside to contacting a prospective fiscal sponsor...

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New York City Fiscal Sponsors

New York City Fiscal SponsorsList of Fiscal Sponsors in New York City Organizations that act as fiscal sponsors provide a vital service in the cultivation of new projects and entities. Learn more about what a fiscal sponsor does here. Below is a list of organizations...

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Make the Most of Your Fiscal Sponsor

How to Apply for a Grant Through a Fiscal Sponsor

How to Apply for a Grant Through a Fiscal SponsorFiscal Sponsors Help Open Doors To Nonprofit Grants Fiscal Sponsors Give You the Ability to Put Your Work Before More FundersOne of the many benefits of having fiscal sponsorship is the ability to apply for grants...

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Running a Crowdfunding Campaign Through a Fiscal Sponsor

Running a Crowdfunding Campaign Through a Fiscal SponsorRunning a crowdfunding campaign through a fiscal sponsor can be a great way to raise funds for your project. Being able to provide tax deductibility to your campaign contributors can be the factor that pushes...

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Generating Contributed Income in the Performing Arts

As a performing artist, it’s crucial to maintain a consistent flow of income. There are many ways to do so, from donations to fundraising events. Learn more about how to keep your 501(c)3 or fiscally-sponsored entity viable, both now and going forward.

Individual Donations

Cultivating Individual Donors in the Performing Arts

Cultivating Individual Donors in the Performing ArtsDevelopment & Fundraising through Individual Donations Everyone needs money, and if you are an artist, nonprofit, or dance organization, a good chunk of your income is probably raised through fundraising. In the...

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Running a Crowdfunding Campaign Through a Fiscal Sponsor

Running a Crowdfunding Campaign Through a Fiscal SponsorRunning a crowdfunding campaign through a fiscal sponsor can be a great way to raise funds for your project. Being able to provide tax deductibility to your campaign contributors can be the factor that pushes...

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Crowdfunding Versus Fundraising

Crowdfunding versus FundraisingWhat is the difference between Crowdfunding and Fundraising? Crowdfunding is exclusively online while fundraising could be either in person or virtual. The majority of Crowdfunding websites make it free to begin so you retain most of the...

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Institutional Funding

Tips for Obtaining Institutional Funding

Tips for Obtaining Institutional FundingDevelopment & Fundraising through Institutional Funding Everyone needs money, and if you are an artist, nonprofit, or dance organization, a good chunk of your income is probably raised through fundraising. In the nonprofit...

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Finding the Right Grant Funders for You

Finding the Right Grant Funders for You: Essential Tips NEXTSTEPS GUEST WRITER: ANNA BRADY MARCUSGrant writing means finding the right grant funders for your organization Getting started with grant writing (or Institutional Development) is a daunting process, but it’s...

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Fundraising Events

Q&A: Marketing Your Fundraising Event

Q&A: Marketing your Performing Arts Fundraising EventUnveiling the Power of Event Fundraising: Elevate Your Fundraising Efforts! Hosting an event stands out as one of the most collaborative ways to raise funds. From planning to execution, various steps and factors...

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Fundraising Q&A: Planning a Fundraising Event

Q&A: Planning a Performing Arts Fundraising EventEvent Fundraising in the Performing Arts can be a Great Way to Raise Funds There are a number of ways to fundraise money for a performing arts organization or cause. One of the most collaborative ways to fundraise...

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Accounting for the Performing Arts

Whether you’re a 501(c)3, fiscally sponsored, or for-profit entity, a keen knowledge of accounting is critical. Understanding how your finances work can significantly increase your chances of long-term success.

Budgeting

How to Create a Project Budget

How to Create a Project Budget What is a Budget? A budget is an estimate of income and expenses for a set period of time in the future. You can create a budget for your entire organization or individually for each of your projects/programs. Budgets are meant to be...

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How to Create an Operating Budget

How to Create an Operating Budget An Operating Budget in the Performing Arts An Operating Budget differs from a Project Budget in that it takes into account all of your project budgets, fundraising budgets, and general operating budgets in one report. This type of...

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How to Complete a Cash Flow Statement

How to Complete a Cash Flow Statement What is a Cash Flow Statement? A Cash Flow Statement is a financial statement that tracks the movement of a company’s cash over a selected period of time. This is an all-inclusive statement because it includes the inflow and...

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Should My Dancers Be on Payroll?

Should My Dancers Be on Payroll?Legal Implications of Payroll Employees From the perspective of the New York Department of Labor, if you are a dance company and are dictating when and where your dancers are performing their services, those individuals are considered...

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Creatives and Credit

Creatives & CreditCreatives & Credit Workshop with Tierra Bonds For artists and creatives looking to build good money habits, this fiscal session teaches you how to reach your credit score goals.Have you ever wondered how credit works and how you can use it to...

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Bookkeeping with Quickbooks

What is a Chart of Accounts (COA)?

What is a Chart of Accounts (COA)? Why is a Chart of Accounts (COA) important for your bookkeeping practices? A Chart of Accounts (COA) is a list of the accounts that an organization has identified for recording and allocating transactions in its general ledger....

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Quickbooks Desktop versus Online Accounting Software

Quickbooks Accounting Software: Desktop versus Online OptionsComparing Quickbooks Accounting Software: Desktop versus Online Options If you’ve already chosen Quickbooks as your accounting software, the next step is to choose between their various offerings – desktop...

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Bookkeeper vs. Accountant

Bookkeeper vs. AccountantThe terms bookkeeper and accountant are often used interchangeably. However, they both hold very different roles. So what is the difference between a bookkeeper and an accountant? Bookkeeper A bookkeeper’s job is to keep an organization...

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Taxes

Claiming Tax Deductions for Artistic Work

Claiming Tax Deductions for Artistic WorkHow to Claim Deductions for Your Artistic Work When it comes to claiming tax deductions for your artistic work, there are several factors to consider. Here are some general guidelines that may help you understand the process:...

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Venmo and Taxes

Venmo and TaxesIf you receive income through a currency exchange platform such as Venmo, you are required to report it on your tax return. This includes payment for any artistic or administrative work such as rehearsal pay or performance stipends. Even if you earn...

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Financial Audit Vs. Financial Review

Key Differences Between a Financial Audit & Financial ReviewA financial audit and review are two different types of financial assessments conducted by professionals to evaluate the accuracy and completeness of financial statements. The main difference between an...

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Employee versus Independent Contractor

Employee vs. Independent ContractorWhat’s the difference between an employee and an independent contractor? The payment for an independent contractor is performance-based and is determined by the completion of the service they provide while an employee's payment is...

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Latest Performing Arts Resource Listings

Browse this list of NYC-based fiscal sponsors to find the right match for you.

Arts Admin Job Listings

Dance Rehearsal Spaces in NYC

Use this comprehensive list to view your options for renting dance rehearsal studio space in NYC.

Grant Opportunities

Search these grant databases for prospective grant opportunities suitable for your work.

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