IM4US is a fiscally sponsored project of Tides Center, a duly registered public charity, exempt from Federal income taxation under Section 501(c)(3) of the Internal Revenue Code. The Center offers unique opportunities for emerging and existing charitable activities, by providing a solid infrastructure for groups working to promote progressive social change on a local, national, and international level.
All projects that are part of Tides Center are approved by its Board of Directors and are considered direct corporate activities. As such, the Center assumes legal and fiscal responsibility for all activities of its projects. The program, personnel and finances of the project are managed, supervised and controlled by the Board of Directors of Tides Center through its Chief Executive Officer, who delegates responsibility to project personnel who in turn manage the day-to-day operations of the project. The Center does not assume responsibility for projects casually. They search for programs that are innovative, well organized and possess a strong potential to make concrete contributions in our interest areas.
Tides Center staff provides critical oversight of all grants. They review and sign all grant agreements, note reporting deadlines and disbursement schedules, receive the funds, and send acknowledgement letters to funders. Tides Center employs a strict fund accounting system, which means that every project has its own separate accounting division or “fund” with its own balance sheet. This maintains a strict segregation of funds, assets, and liabilities belonging to each project. Projects develop programmatic reports and utilize financial statements from Tides Center in reporting to funders.
Currently, Tides Center is responsible for approximately 160 projects supported by grants from foundations, other institutions, and individuals. Expenditures for Tides Center in FY 2015 were approximately $99 million. Tides Center uses a full fund accounting system and its financial records are audited annually by the accounting firm of Moss Adams LLP. Tides has consistently received clean audits and the auditors consult annually with our Board of Directors.