Fiscal Agents

How to Apply with a Fiscal Agent (Grants for Organizations)

Organizations that have applied for 501(c)3 status from the IRS but haven't yet become non-profit can apply to the North Carolina Arts Council using a fiscal agent.  Applicants will fill out the application themselves and list the name of the fiscal agent on the Project Contact Information page.  Applicants using a fiscal agent will be asked to submit 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.

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 grant contract as well as the final report to 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 Vicki Vitiello at (919) 807-6504.