Having just celebrated its first anniversary, Water Revolution Foundation reached another milestone when it was granted the status of a Public Benefit Organisation (PBO). This status is only granted to non-profit organisations where their aims and activities go beyond serving the needs and interests of its partners or the industry it operates in.
The requirements are stringent and this PBO status reinforces Water Revolution Foundation’s core mission, laid in the articles of association, to repair and look after the world’s precious oceans and neutralise the environmental impact of the yachting industry. While started from within the superyacht industry and working on tools that help significantly with reducing our industry’s environmental footprint, without healthy oceans there is little reason to go yachting. Both missions go hand-in-hand and showcase a new hybrid model for the foundation, as well as for the superyacht industry in order to be future proof.
Benefits of the PBO status includes recognition and trust among stakeholders such as governmental institutions, international organisations, but also philanthropic foundations supporting others. Also, donations, both monetary and intellectual property, and inherited capital are not taxed. It also increases potential access to project funding from national or institutional funds. Most important, however, is that Water Revolution’s true commitment to reaching its goals is being recognised and rewarded with this rare PBO status.