Longtime Non-profit is Casualty of Economic Conditions, Funding Trends
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After nearly 35 years of operation, Public/Private Ventures (PPV) will close by the end of July. The decision came after the Board of Directors concluded that, given current funding trends and economic conditions, PPV operations were not sustainable despite staff cuts and support from numerous private funders. “We’ve been monitoring our finances for well over a year with the prospect that we might have to plan for a wind-down if we didn’t secure the kind of dedicated funding PPV has enjoyed in the past,” said PPV President Nadya Shmavonian. “But [that foresight] will allow us to do this in as responsible a manner as possible, with a real priority on moving the work and projects to a new homes.”
PPV, a national non-profit with offices in New York City, Philadelphia and Oakland, has worked to improve the effectiveness of social programs around the country, with a particular focus on young people from high-poverty communities. The organization has about 40 active projects, and has already began the work of “winding down” -- finding suitable organizations to continue the programs, on a project-by-project basis.