Today we are happy to announce that we have partnered with CEL Education Fund to provide fiscal sponsorship as we complete our own application for 501(c)(3) status (being prepared by the good folks over at the nonprofit law firm Adler & Colvin).
CEL Education Fund is on a mission to empower tech-savvy people-powered initiatives that accelerate social change, making them a perfect fit for a partnership with Stellar. CEL will be accepting tax deductible donations on behalf of Stellar Development Foundation so that we can continue to focus on the important work we have ahead of us.
Creating financial infrastructure that can be used by the entire world in an open and inclusive manner is a big challenge. At Stellar, we have brought together a team that is dedicating their work to this goal.
Let’s work together on this mission-donate to our programs with PayPal here.
We are pleased to announce that we are now accepting bitcoin with BitPay.
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(Source: From CEL’s website)
Q: What is a fiscal sponsorship?
A: Fiscal sponsorship is an arrangement between a 501(c)(3) public charity and a project that does not have 501(c)(3) status. The charity receives funds on behalf of the project and monitors the distribution of funds to the project with a parallel mission.
Q: What will these funds be used for?
A: These funds will be used for programs related to the charitable purposes specified in our mandate. Our programs include financial education initiatives, financial inclusion, and providing access to digital financial services.
Q: How do we know that the funds are being properly used?
A: Disbursement and use of all funds received by a fiscal sponsor must be closely monitored to ensure that they are being used in a manner compliant with tax law. In addition, as we believe in promoting financial transparency, we will be publishing our unaudited financials for 2014 shortly so you can see the use of all organization funds.
Q: Are donations tax-deductible?
Q: Can I donate in cryptocurrency? Will there be more donation methods in the future?
A: We accept bitcoin donations via BitPay. Donate here. We’ll be working with our fiscal sponsor to add more options for donors in the future.