US donations, 501(c)3 status and Fiscal partnership.

Disaster Tech Lab is currently in the process of registering as a non-profit in the USA. Part of the reason for this step is so that we can apply for 501(c)3 status which will make donations made to us tax deductible for those donors who are US based.

The application for 501(c)3 status is a lenghty process and as we want to facilitate our donors as much as we can we’re delighted to anounce that we have entered into a Fiscal Sponsorship agreement with Portlight Strategies

Within a Fiscal Sponsorship agreement a nonprofit, tax-exempt organization acts as a sponsor for a project or group that does not have its own tax-exempt status. Grants or contributions are made to the fiscal sponsor which manages the funds. In the case of a grant, the fiscal sponsor is responsible for reporting back to the foundation on the progress of the project.

More details about Fiscal Sponsorship can be read here.

  • Twitter
  • del.icio.us
  • Digg
  • Facebook
  • Technorati
  • Reddit
  • Yahoo Buzz
  • StumbleUpon
Posted in News