Do I need to report my project disbursement as taxable income?
For leaders with projects fiscally sponsored by ioby:
ioby cannot provide any financial advice to the project leader about the tax filing requirements of project disbursements. We recommend all fiscally sponsored project leaders to consult with a financial professional. That said, as long as proof is provided to ioby that all project disbursements are spent toward the stated charitable purposes of the project, it is generally ioby's practice to not issue 1099-MISC for project disbursements.
For leaders with projects that are fiscally sponsored by organizations other than ioby:
Please be in touch with your fiscal sponsor organization for input regarding your disbursement.
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