Annual Report - 2003
Component Funds - Community Project Special Purpose Funds
This type of fund is non-permanent and established for a specific project or a community initiative.
Midland City Parks Restoration Fund – This fund was created to receive gifts from neighborhood associations and interested citizens to help revitalize and restore the city’s neighborhood parks in collaboration with the City of Midland Community Services Department.
Mom’s Cancer Care Assistance Fund – This Fund was created by an anonymous donor to assist cancer patients with the severe costs of treatment and medication expenses.
PBAF Emergency Relief Fund – This fund serves as a community resource to support families experiencing severe financial circumstances as a result of catastrophic events. The Foundation works with churches in making grants from this fund.
Rock the Desert Fund – This fund was established to support development and maintenance of Rock the Desert facilities and programs to advance the Gospel of Jesus Christ.
Texas Medal of Honor Project Fund – This fund serves as a resource for the creation and development of a statue commemorating Medal of Honor recipients from the State of Texas. The statue will be featured in the new museum and restoration facility at the Commemorative Air Force complex.
An annual three-day Christian music festival, Rock the Desert, has grown into an event attracting over 100,000 in attendance. The Foundation provided underwriting support for the festival helping to attract some of the most well known names in the Christian music sphere. Formerly held at Beal Park in Midland, the Rock the Desert ministry has now acquired and is developing land between Midland and Odessa to serve as a permanent home for the event and to serve as a permanent campus for Christian camps, retreats, and a host of other special events. Resources from the dissolution of the Scarborough-Linebery Foundation, now held within the Foundation, provided the start-up capital for the new encampment and festival site.
Notes:
Permian Basin Area Foundation administers a number of other funds, the donors to which have requested anonymity.
Funds of the Foundation are open to additional tax-deductible contributions. We also welcome the opportunity to visit with donors about creating new component funds for charitable purposes.
Next: Component Funds - Scholarship Funds
