Founded new nonprofit, fiscally sponsored and experiencing tensions with co-founder, WWYD?

When we started the nonprofit we simultaneously signed on with a fiscal sponsor while also incorporating as a 501c3. The plan was to stay with fiscal sponsor while we learned the ropes and built capacity, like for maybe a year before switching to do things ourselves. But now for various reasons we likely need to say goodbye to this fiscal sponsor much sooner. At the same time, tensions are mounting between cofounder and I. Without going into details the conditions in both our lives are not optimal to nurture this org right now. We've also struck out on the 5-6 grants we've applied to so far so there's no real funds to speak of. We've both invested a lot of time and a little bit of $. Some org projects are still in development, other people are involved.

I want to pull back, at least for a while, because I'm feeling the relationship get toxic. It's detracting from the mission, and my life. I also feel like if we were to continue working together I'd insist on working with another fiscal sponsor instead of managing finances and taxes on our own. This is primarily because I'm not comfortable with co-founder's decision-making and worry once money is in the mix things could get messy. I'd rather have the fiscal sponsor's checks and balances in place. Co-founder may disagree and insist we/they go it alone with the 501c3.

What do I do here? Does it make sense to go from one fiscal sponsor to another even though we're incorporated? If I back out what are my liability risks as my name is on the incorporation paperwork too? (No bank accounts open in my name, nor will there be.) Any anecdotes from your experience in nonprofit startup, or building a nonprofit with an unstable partner?

tl;dr – early in org development but already incorporated – move from fiscal sponsor to another while relationship with co-founder shaky? Do I pump brakes, say goodbye, or keep the momentum going?

submitted by /u/love_me_a_gherkin
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