ioby Support Center

Do I need to report money crowdfunded with ioby as taxable income?

Updated

Disclaimer: ioby is not legally allowed to provide financial or tax advice to project leaders, and we cannot advise on the tax filing requirements for your particular project disbursement. We recommend all fiscally sponsored project leaders consult with a tax professional if possible.

 

For leaders with projects fiscally sponsored by ioby:

If you have used your ioby campaign funds for the intended project, in accordance with what was stated in your fiscal sponsorship agreement, then the funds are considered grant funds and ioby should not need to issue you a 1099-MISC for project disbursements. 

If your financial professional believes that you DO need a 1099-MISC form from ioby, please contact us at [email protected] to discuss your particular situation. Typically, this situation would only arise if you did NOT spend the funds for the originally intended charitable purpose. 

 

For leaders with projects that are fiscally sponsored by organizations other than ioby:

For tax guidance on funds you receive through another fiscal sponsor, please consult with your fiscal sponsor and/or your financial professional.

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