Ribbon is not a fiscal sponsor itself; rather, it is a robust software platform designed to streamline and enhance the process of running a fiscal sponsorship agreement.
Ribbon's Role in Fiscal Sponsorship:
1. Platform for Fiscal Sponsorship Agreements: Ribbon operates as a comprehensive software platform that simplifies the administration of fiscal sponsorship agreements. It does not serve as a fiscal sponsor but rather acts as a facilitator for groups seeking fiscal sponsorship with established 501(c)(3) organizations.
2. Application for Fiscal Sponsorship: Groups interested in fiscal sponsorship can leverage Ribbon to apply for sponsorship with various established 501(c)(3) organizations actively seeking new sponsored programs. Ribbon streamlines the application process, making it more accessible for groups seeking fiscal support.
3. Approval and Program Management: Once a group is approved by a fiscal sponsor through the Ribbon platform, it gains access to a suite of tools and features. These tools empower groups to manage essential aspects of their sponsored program, including fundraising, expense approvals, and accounting of funds required for program operations.
Key Features of Ribbon:
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Fundraising: Ribbon facilitates efficient and organized fundraising efforts, allowing groups to mobilize financial support for their sponsored programs.
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Expense Approvals: The platform streamlines the approval process for program-related expenses, ensuring transparency and accountability in financial transactions.
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Accounting of Funds: Ribbon provides robust accounting features, enabling precise tracking and management of funds associated with sponsored programs.