What is a Fiscal Sponsor?
During the first days following any tragedy, people want to make donations to help as quickly as possible, yet still be able to have their donations be tax deductible. In order to respond as quickly as needed, the new Maui Pono Foundation has partnered with an already established non-profit (501c3), which is called the “fiscal sponsor”. While waiting for their own 501c3 designation, having a fiscal sponsor allows the Maui Pono Foundation to get much needed funds to the victims of this disaster immediately.
Since the sponsor is already a 501c3, they make no profit from this role and pass on all donations, less a very small fee to pay for their administrative costs.
When you make your donation to Maui Pono Foundation, your gift will flow directly to Maui Fire victims, and you will receive a receipt from the fiscal sponsor making your donation immediately eligible for a charitable tax deduction.