How to list unpaid internship on resume

Hello all,

I am a mediocre gpa student at a non target in the northeast. I got denied from my internship applications but through personal networking I received an offer to work an unpaid internship position at a small regional PWM firm this summer. It will be part time (3 days per week). I'm not sure I will be considered an employee of the company or if I am just shadowing and helping out where I can. Can I list this on my resume as one would for any other internship? What is the best way to get everything I can out of this experience as far as my resume goes?

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