Umbrella Accounts:
 

Friends provides Fiscal Agent status for select community groups and programs working within the Oakland Parks and Recreation Centers which meet our mission criteria of working to improve recreation, education and beautification efforts.  In this way groups can utilize Friends to manage their finances and accept tax-deductible donations to be utilized solely for their purpose.  Whether it’s keeping the Oakland Municipal Band playing to helping a community beautify their neighborhood Friends is here to help get things done. 
 

IF YOU WOULD LIKE TO BECOME AN UMBRELLA ACCOUNT, WE MAKE IT EASY.
 
We have two standard types of contracts

• A Donor-Advised Contract, that is for accounts simply raising funds for a designated purpose.

• A Programmatic Account Contract, this is for groups actually running programs or planning on building projects. We have a small administrative fee of 2% taken once a year from Donor-Advised Contracts.  For Programmatic Accounts, we take 4% a year. These are the only fees, other than we also take the interest generated from these accounts for administrative efforts.

New Policy

• Friends considers our Fiscal Sponsorship to be a privilege of membership in our organization.  Therefore, we require at least one member of your group to become a member of Friends at a minimum of the individual member rate.  In addition, we welcome your assistance in providing membership information in Friends to your other participants.  Our membership donations are essential to Friends being able to offer Fiscal Sponsorships and to keep our fees to a minimum.

The account application process is as follows:

• Write a letter requesting an account, stating the purpose of your fund, the duration of your fund (if limited) and the estimated activity (number of checks/deposits per month you will be requesting).

Please mail the request letter to:

Friends of Oakland Parks and Recreation
Attn: Kathy Raymond
P.O. Box 13267
Oakland, CA 94661

Your request will go through our Executive Committee who meets the first Wednesday of every month, and then if approved would go onto a full board vote which meets the third Wednesday of every month. If approved we would ask you to sign a contract with our organization for this account and set up a designated account signer.

Once You Are Approved
Whenever you would need a check you would submit a check request form with the designated signer's signature and back up documentation, such as an invoice or receipt, this is necessary so we can make sure the funds are being used towards the accounts designated purpose. Deposits would be written to our organization, with a memo or notation that they are to be used for your designated account.

If you have any questions please feel free to call us at 510-465-1850 or email us at oaklandparks@sbcglobal.net.