WordPress list custom post grouped by taxonomy term

gistfile1.phtml

        <?php 
            $terms = get_terms( 'sponsor_type', array(
                'orderby'    => 'id',
        ) );
        ?>

        <?php

            foreach( $terms as $term ) {
           
                $args = array(
                'post_type' => 'dmc-sponsor',
                'sponsor_type' => $term->slug
                );
                $query = new WP_Query( $args );
                                         
                echo'<h2><small>' . $term->name . ' Sponsor</small></h2><hr />';

                if ( $term->term_id == '8' || $term->term_id == '9' ) :
                   echo '<ul class="large-block-grid-4';
                else  :
                    echo '<ul class="large-block-grid-5';
                endif;
                    echo ' post-list">';
                while ( $query->have_posts() ) : $query->the_post(); ?>

                    <li>
                        <p><span class="left"><small>Stream: <?php $term_list = the_terms($post->ID, 'conference_stream'); ?></small></span></p>
                        <a href="<?php echo esc_url(get_field('dmc_sponsor_website')); ?>"><?php the_post_thumbnail( array( 'width' => 300, 'height' => 150 ) , array( 'class' => 'alignnone' ) ); ?></a>
                        <div class="post-meta">
                            <h4><a href="<?php echo esc_url(get_field('dmc_sponsor_website')); ?>"><?php the_title(); ?></a></h4>
                            <small>Contact <a href="mailto:<?php echo sanitize_email(the_field('dmc_sponsor_contact_email')); ?>?BCC=sponsors@atcevents.com.au&amp;Subject=Information Request from ATC Events Sponsor Page"><?php the_field('dmc_sponsor_contact_name'); ?></a></small>
                        </div>
                    </li>
                   
                <?php endwhile;
               
                echo '</ul>';
               
              wp_reset_postdata();
           
        } ?>