fiscal sponsorship questions

I am a United Methodist pastor on sabbatical for the purpose of producing a documentary on how changes in popular culture over the last fifty years have impacted pastoral ministry.

I am seeking a fiscal sponsorship relationship with the United Methodist Foundation in our state. The director of the foundation has told me there is a precedent for such a relationship (they offered to a person who was publishing a book) and that they were open to considering such a request.

My question relates how fiscal sponsorship deals with financial issues of income and spending. It is my understanding that the sponsoring agency would provide management of all income and expenditures in return for a set percentage of all income as an adminiistrative fee (normally around 5 %). I would also assume that expenses could only be paid out of balances in the income account.

In your experience are the above assumptions consistent with your understanding of such sponsorships? I will be meeting with the foundation director in a few weeks to submit a business plan for the documentary and I wanted to check out my assumptions with others familiar with this kind of relationship.

Thx,

Bob Hager