“Brick-by-Brick” – February Fundraising Update February 25, 2016
PYB is pleased to announce our noteworthy fundraising advances and our tactical plan moving forward.
PYB, launched in the spring of 2015, has already made considerable strides during the past eight months of operation. We have an organization, a Board of Directors, a passionate group of staff and volunteers, a growing number of advocates and financial supporters, a real estate agreement, a communications platform, operating systems, and most importantly, a cohort of young people who are actively engaged in our program. To top off this success, through the generosity of some early-stage donor/investors, PYB has raised $750,000 in early donor capital for operating and program costs. The past year has been exhilarating and highly productive, and as a result, we have constructed a sturdy foundation to move forward.
This early seed capital is critical for the continued growth and structuring of our programs. Both programs, the currently administered Middle School Partnership Program, and the “City 6” Series summer camp, will be supported by a combination of private individuals, institutions, foundations, and corporations. Their funding will provide PYB with a clearer understanding of the many dimensions of our program model and allow us to modify or build upon any foreseeable needed areas. At the end of each program session, a thorough analysis of our collected insights will be performed and subsequent proper adjustments will be made to best leverage activity in future years.
Simultaneously, PYB’s Founding Board of Directors and its President & CEO, in partnership of Fairmount Ventures, a strategic planning and fundraising firm, are in the process of establishing the framework of a capital campaign to raise $25-$30 million. PYB’s vision is to build a state-of-the-art, all-encompassing, basketball-based youth facility in the heart of North Philadelphia. The “putting together of the building blocks” of our capital campaign over the next 3-4 months will prove to be the most important and strategically complex piece of work that PYB will partake in within the first 5 years of organization’s formative life. Through Fairmount Venture’s fundraising counsel expertise, and PYB’s diverse and knowledgeable group of supporters, we are confident that PYB will create a winning campaign and, in turn, create transformative opportunities for Philadelphia’s young people.