Dissolution FAQ

When is the last date to spend down funds?

• September 30

What happens if I can’t spend down all of my funds?

• If you cannot spend all of your funds on qualified charitable expenses by September 30, OCF will grant the remaining fund balance to another qualified fiscal sponsor to support their legal or financial compliance infrastructure.

When is the last date I can receive funds for my project?

• On March 15, all donation platforms will be shut down, including Stripe, PayPal and crowdfunding. Collectives will also no longer be able to accept transfers via ACH after March 15.

How can I contact OCF?

• The best way to contact OCF during the staged wind-down is through our general inquiry inbox at [email protected] . This will ensure that your inquiry is routed to the right person and you get a response as quickly as possible.

Where can I find a list of other fiscal sponsors?

• This spreadsheet created by the New Economy Coalition contains a number of mission-aligned fiscal sponsors as well as resources about fiscal sponsorship.
• The National Network of Fiscal Sponsors maintains a database of their members.
• Many fiscal sponsors have requirements that some collectives may not meet. If you are having trouble finding a new home for your work, you can reach out to us for support in thinking through options by emailing [email protected].

Why can’t OCF transfer all collectives to another fiscal sponsor?

• We are not able to manage the transfer of all collectives to another fiscal sponsor due to the diversity of our collectives’ mission and complexity.
• However, we are happy to discuss your options as you consider whether to move your project to another sponsor.

We have employees. What do we need to do?

• Each collective has its own employment practices. All employees will need to be laid off by June 30 at the latest, but the date will vary based on your collectives’ employment agreements, geographic location, fund balance, and more. All collectives with employees need to contact us ASAP at [email protected].

Can I transfer funds to another fiscal sponsor?

• If you identify another fiscal sponsor that you would like to move your collective to, reach out to us at [email protected]. We will need an IRS determination letter to confirm that your new fiscal sponsor is a 501(c)(3) organization and we will need to perform standard due diligence to help assure that the successor fiscal sponsor is qualified and reasonably capable of using transferred assets consistent with their charitable purposes.

Can I transfer my funds to another host on Open Collective platform (OSC, OCE, etc.)?

• We can transfer to another qualified 501(c)(3) organization and have to perform the same due diligence process. Many of the other hosts on the Open Collective platform are not 501(c)(3) organizations. Get in touch with us to discuss by emailing [email protected].

Will OCF be onboarding new collective employees in 2024?

• No. If you have any questions, contact us at [email protected].

Can I continue to accept donations?

• Tell your donors you can no longer accept donations after March 15. If you are anticipating donations, expecting a grant or planning a fundraising campaign reach out to us at [email protected] and we can discuss your options.
• Any recurring donations through the Open Collective platform will be discontinued as of March 15. Recurring donors will be notified automatically that their recurring donation is canceled.