2025 Partnership for Parks
Chicago Parks Foundation + Park Partner
Fiscal Partnership Agreement
A. ABOUT CHICAGO PARKS FOUNDATION
The Chicago Parks Foundation (“CPF,” “we,” “us” or similar language) is a 501c3 nonprofit organization organized under the laws of the State of Illinois. We are qualified as exempt from federal income tax under section 501c3 of the Internal Revenue Code.
As a nonprofit organization, the Chicago Parks Foundation is organized for certain purposes only, and everything we do must fit within the charitable purposes of our mission: to build a stronger community dedicated to supporting and conserving parks in Chicago.
CPF Contact Information:
Triana Callam
Community Programs Manager
(773) 505-9477 • tcallam@chicagoparksfoundation.org
Willa Iglitzen Lang
Executive Director
(773) 505-9742 • wlang@chicagoparksfoundation.org
Chicago Parks Foundation Mailing Address
PO Box 14147
Chicago, IL 60614
B. FISCAL SPONSORSHIP INFORMATION
Duration
The terms of this letter of agreement begin on the date listed at the bottom of this form and will be reevaluated in January of the following year. Either party may terminate this agreement with 30 days written notice.
This agreement may be amended only by the mutual written consent of the Park Partner and CPF. Notice of changes shall be sufficient if given to the contacts listed above.
Fees & Costs
1) You agree to pay an annual fiscal sponsorship fee of $75 and agree to use our designated bank partner, Fifth Third Bank. The sponsorship fee will be collected at the time the Park Partner joins the program.
Park partners who join between January and July 31st of a given year will pay their second sponsorship fee by January 31st of the following year
Example: PAC A first paid CPF between January and August of 2018. Their next payment will be due January 2019.
Park partners who join on or after August 1st will be grandfathered into the following year, i.e. their second sponsorship fee will not be due until the second January from the original payment’s year.
Example: PAC B first paid CPF between August and December of 2018. Their next payment will not be due until January 2020.
Once your billing cycle aligns with January, your annual payments will always be due by January 31st of each year. You will be notified in advance of when the annual payment is due.
2) Any gifts $2,000 and greater must be made payable to the Chicago Parks Foundation, where they will be recorded and donors acknowledged. Checks will be reissued to the Park Partner with the proper documentation (invoices, etc.) for expenses. For more details on the fund distribution process, please reach out to the contacts listed above.
3) The Park Partner agrees and is responsible for any fees related to ancillary charges including overdraft fees, wire fees, and the traditional fee schedule. The Park Partner is responsible for the check order costs. The account’s monthly maintenance fee is waived retroactively and monthly through the CPF fiscal partnership agreement. Debit cards and Fifth Third’s online banking platform are both free for Park Partner use.
Avoid overdraft of checking account. Upon each overdraft, a $37 penalty will be charged and CPF will be informed. CPF reserves the right to remove a Park Partner from the program and terminate this contract if accounts are abused; that is, if your account is overdrawn 3 times, your Park Partnership will be removed from the program.
If a Park Partner is being charged extraneous fees or is concerned that they’re being overcharged, it is the onus of the Park Partner to reach out to CPF and Fifth Third Bank to address this concern.
Roles & Responsibilities
Chicago Parks Foundation shall:
Provide to Park Partner the CPF Illinois Sales Tax Exemption Certificate and any other necessary documents and paperwork when requested.
Initiate partnership between you and our designated bank partner, Fifth Third Bank.
Provide marketing, programming, and event consultation to your organization as requested.
Receive payment(s) restricted to Park Partner for gifts $2,000 and greater.
If requested by the Park Partner, explore a partnership in fundraising projects. Projects are evaluated by the CPF on a case by case basis to determine CPF's role in the project, and what, if any, additional fees will be charged based on the services provided by the CPF. For more information on fundraising projects, please reach out to the contacts listed above.
Park Partner shall:
Inform CPF immediately when Park Partner board leadership changes.
Just as is required by the Chicago Park District, Advisory Councils should provide CPF updates whenever the President, Vice President, Secretary, Treasurer, or other board position member changes. This information may be provided via email to the contacts listed above.
Acquire Tax ID number (TIN/EIN) only for banking purposes for your Park Partnership. You will use the Chicago Parks Foundation Tax ID number to collect donations and for tax exempt purchasing.
Open a Fifth Third Bank account through this fiscal sponsorship program and utilize Fifth Third Bank for banking services.
Maintain financial records of contributions and expenditures, and submit semi-annual income/expense reports to CPF. Reports due January 31st and July 31st of each year. You will be notified in advance of when the report is due.
Park Partners must submit semi-annual reports even if there is no change in balance or no income reported for the time period. For tax purposes, CPF must have a paper trail of all Park Partner financial information.
Receive and safeguard donations and contributions, and send the appropriate acknowledgement of tax-deductible contribution to all contributors (see acknowledgement language below).
Disburse funds in accordance with the stated contribution purpose and only for projects outlined in this agreement letter. Use CPF Illinois State Tax Exemption Certificate solely for fundraising purposes of your park.
Notify CPF of any grant applications/awards and gifts $2,000 and greater. Inform CPF promptly of any gifts that are being directed to the CPF.
Retain all books, records, or other documents relevant to this agreement for 3 years after this agreement is no longer in effect.
Remain in good standing with the Chicago Park District.
Failure to comply with the items listed may result in the removal from the Partnership for Parks program.
Language at the end of acknowledgement letters should read:
The Chicago Parks Foundation is serving as the fiscal sponsor to the ___________________ Park Advisory Council. Executive Board Members of the ___________________ Park Advisory Council have the authority vested in them, through Chicago Parks Foundation, to use the tax status and sales tax exemption letter for the purpose of fundraising for park related activities. The Chicago Parks Foundation is a 501c3 nonprofit organization (FEIN Tax ID#: 45-4866050). Please consult with your tax advisor for tax deduction direction for your gift.
C. ABOUT YOUR GROUP
Keep us updated about your AC by completing the information below to the best of your ability and in the most detail possible.
You are a neighborhood organization (“you,” “your,” “Park Partner,” “AC” or similar language) and have received or may receive funds to be used to generally enhance your park and/or for specific park projects. You have designated the Chicago Parks Foundation as your fiscal partner.