Circle of Giving 2020 was established in March 2020 by Media residents, Kelly Yiadom and Aimee Rubin, when it became clear that the COVID-19 pandemic would severely impact local families. Together they have provided grocery store gift cards, meals, school supplies and other resources to support Rose Tree Media school district families as well as Delaware County families.
Since that time, more than $70,000 has been raised. Donations to Circle of Giving help to provide groceries, gift cards, meals and school supplies to Delaware County families. An all-volunteer organization, Aimee and Kelly have launched a back to school drive and raised funds for supplies for teachers and computers for students.
As a fiscal sponsor, the foundation provides administrative services, oversight, and financial responsibility for the activities of Circle of Giving.
Why choose fiscal sponsorship?
Fiscal sponsorship is often used by newly formed nonprofits that need to raise money during the start-up phase, before they are recognized as tax-exempt by the IRS. Using a fiscal sponsor enables a program or organization that does not itself qualify as tax-exempt to attract funding for its operations that will — through the fiscal sponsor – be tax-deductible to donors.
Some organizations – including those that are tax-exempt – find that utilizing a fiscal sponsor to outsource administrative responsibilities, whether back-office tasks, or those relating to fundraising and disbursement of funds, is the right business model for them. This structure might be particularly well-suited for all-volunteer organizations.
To learn more about using the foundation for fiscal sponsorship please contact: Laura DeFlavia.