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Guadalupe approves MOU with GCAC to serve as fiscal sponsor for Royal Theater campaign
Summary
The council approved a memorandum of understanding authorizing the Guadalupe Community Action Coalition (GCAC) to accept donations and act as fiscal sponsor for the Royal Theater capital campaign; GCAC may retain a 3% administrative fee and must keep records and carry insurance.
The Guadalupe City Council approved a memorandum of understanding with the Guadalupe Community Action Coalition (GCAC) to act as fiscal sponsor for the Royal Theater capital campaign and to accept monetary donations on behalf of the project.
City staff presented the draft MOU and said GCAC — a nonprofit corporation formed by the city to assist with projects the city cannot directly accept funding for — would be authorized to receive donations, host campaign information on its website, and accept online and check…
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