This month, we would like to feature and share with you the more fun and personal side of Prometheus and team members. As some of you may know, community and philanthropy is a big part of what we do, and we want to share our experience in giving back and hopefully can inspire you to join us as well!
What did PPAG do this year in terms of giving back?
Earlier this year, we decided to embark on a charitable initiative that allows us to continue to give back to the community perpetually. We put together our very own Donor Advised Fund: The Prometheus Corporate Giveback Fund with Vancouver Foundation!
What is a Donor Advised Fund?
A Donor Advised Fund (DAF) is a fund set up with a public foundation, such as Vancouver Foundation, and allows individual donors, like our clients; or a company, like PPAG, to establish a charitable endowment fund. By donating money to the fund, you receive a charitable donation tax receipt, and then distribute the growth of the fund in the form of grant over time. Grants can be made to any registered Canadian charity chosen by PPAG.
Who are your target beneficiaries?
We put a huge value on education, as it opens doors and creates opportunities. We also like to help younger generations. Our fund intends to provide youth and young adults with limited financial resources the opportunity to seek higher education in the form of bursaries and scholarships.
How much can you distribute?
PPAG Giveback Fund can distribute around 4% annually. The distribution rate is determined by Vancouver Foundation to ensure the fund can continue to issue increased grants perpetually. The more support we get to build our fund means more grants for those who need it and we can distribute more on an annual basis!
How long will the giveback fund last?
The purpose of setting up the fund is to allow us to continue to grow our charitable impact without stopping. Since we are preserving capital and mainly distributing the growth of the fund, the gift will grow and be given every year for ever! We’ve created something which will continue to make an impact long after even our team has passed on.
How can I help?
I am glad you asked! You can support by clicking on this link: Prometheus Corporate Giveback Fund with Vancouver Foundation and make your donation to help us grow the fund and give the gift of education and create a brighter future for the youth in our community!
Some final thoughts:
We're a local company, with a desire to improve our community. Everyone on our team lives in this beautiful city, so we believe it's so important for us to give back and make it a better place. Making a difference is an incredibly fulfilling experience for everyone involved, and we want you to find that same fulfillment for yourself too.