Frequently Asked Questions
Jump to a question:
Is the Support Our Teachers nonprofit a legal 501(c)(3)?
Yes. Instead of going through the time consuming process of setting up our own full 501(c)(3), we have chosen to go through a fiscal sponsor as we get this nonprofit started. Our goal would be to eventually create our own 501(c)(3).
Who is your fiscal sponsor?
The Rosemount High School Foundation is registered as a 501(c)(3) foundation through the state. Their board has agreed to take on our nonprofit as a fiscal sponsor.
How does a "fiscal sponsorship" work?
A fiscal sponsor is a legal 501(c)(3) foundation that agrees to support an up and coming nonprofit as they try to get started. Our Support Our Teachers nonprofit is run as a separate entity with our own board. For tax purposes, the donations to our nonprofit are run through the RHS Foundation and then deposited into a separate bank account for Support Our Teachers. In return, our nonprofit will pay about 6% of the funds raised to the fiscal sponsor to help cover the cost of bookkeeping, lawyers, and tax preparation.
How do I know my money is being spent as intended?
The RHS Foundation, our fiscal sponsor, will have access to our expenditures. Receipts and bookkeeping will be overseen by the Foundation and our board.
Does the money raised go just to math teachers?
No. Funds will go towards the benefit of students & teachers in the way of scholarships and Awards of Excellence. Money will be used to also promote the general career field of education as we try to draw our students into being a teacher. As the nonprofit grows in funds, we hope to find ways to support ALL teachers in District 196, grades K-12, in their pursuit of excellence.
Is this a one-time fundraiser?
No. We will be looking for ways to make this nonprofit sustainable, year after year.
If I make a large donation, is it tax deductible?
Yes. Because we are a legal 501(c)(3) nonprofit (through a fiscal sponsorship) all donations are tax deductible.
If I work for a company that matches donations, will that work for your nonprofit?
Yes.
What if my company, or a business I work for, likes to donate to good causes - who should I contact at your nonprofit the get the process started?
Contact Mike Floersch at mikefloersch@msn.com .
Would you accept non-monetary donations?
Absolutely, if there is something you would prefer to purchase like calculators or other supplies that can go to our students and teachers, we would appreciate that. Feel free to reach out to Mike Floersch with any questions or ideas.
Do you have a goal, moneywise, that you are trying to reach?
There is no limit:) If we were blessed enough to have this nonprofit receive significant funds, then we would continue to find ways to support ALL teachers and students in District 196.
