We are setting up a new non-profit organization and do not yet have our 501c3 status. Based upon what are attorney is telling us, it usually takes 6-8 months to receive a determination letter from the IRS.
We are researching fiscal sponsorships from existing and established non-profit organizations which already have the 501c3 status. We would be operating under their 501c3 status in a way.
FYI “(Fiscal sponsorship is) an arrangement between a 501(c)(3) public charity and a project (that does not have that tax status) in which, typically, the charity receives and expends funds to advance the charitable work of the project while retaining discretion and control over the funds.”
Our question is, will paypal approve our account to allow us to accept donations online if we have this fiscal sponsorship?
