In PEP 609 terms, we’d mostly be changing the bit in https://www.python.org/dev/peps/pep-0609/#terminology that disclaims any formal link between PyPA and the Packaging WG. Instead, that section would say something like what Dustin wrote above:
“PyPA is a fiscal sponsoree of the PSF, and relies on the PSF’s Packaging WG to manage funds contributed to support development of PyPA projects. Community members may financially contribute to development of PyPA projects by contributing funds to the PSF that are earmarked to be distributed/disbursed by the Packaging WG.”
(Note: I think it might be possible to earmark specifically for “PyPA” once we’re a sponsoree, so we’d run any wording we chose past the PSF staff to be sure it’s accurate)
This is already true today, but previously it was entirely informal based on the individuals in the Packaging WG, as there wasn’t any governance structure on the PyPA side that could agree to becoming a fiscal sponsoree.