In the spirit of expanding philanthropy and promoting outstanding charitable work, PVF serves as the fiscal depository for select projects that do not yet have their tax-exempt status but are otherwise ready to commence their charitable work. These Designated Funds, which fall into PVF’s funding focus, may be local, national, or international.
PVF manages each Designated Fund and prepares financial reports for the project leader. A Designated Fund provides donors with flexibility, enabling them to target support for innovative ideas. Donors can contribute to these charitable projects and receive a tax deduction for their contributions.
Many of our designated funds have gone on to great success, such as SIRUM, a nonprofit that redistributes unused medicine. You can learn more about our relationship with SIRUM here. Another designated fund alum, Chapter 510, is an Oakland-based literacy initiative that is reimagining how inner-city youth can expand their reading and writing skills in a creative way. You can learn more about Chapter 510 on our blog.
“The idea and need for Generosity in Action (GIA) – travelers helping in developing countries – came when I discovered that there was no easy way to accomplish the traveler’s wish to give back. I found that if a traveler’s donation could be tax deductible, the amount they would offer was far greater. Ambassador Bill Lane, former publisher of Sunset and friend from my many years in the travel industry, suggested that if anyone could accomplish my goal, Bill Somerville was the person. One phone call to Bill and I had the program under way.”
– Duncan Beardsley, founder of Generosity in Action, a PVF designated fund