In the
art world, a fiscal agent is an
non-profit organization which assumes financial
liability for a
project by an individual. Philanthropic entities are bound by their own
peculiar set of
tax laws which sometimes require them to only give money to non-profit organizations.
When an individual artist receives a grant from a
philanthropic entity which usually only gives money to organizations, the money is received by the organization or fiscal conduit. The organization then cuts a
check to the
individual and
monitors how that
money is spent. Sometimes, the organizations will
disperse the
grant money after specific
bench marks have been reached by the individual.
Sometimes, a
university will serve as a fiscal agent for a key
researcher, or
faculty member.