In 2006 the Prescott Vette Sette conducted its first annual All Corvette Car show around the Courthouse Plaza in downtown Prescott, AZ. Over the years it has grown to its current maximum of 250 Corvettes and is an all-day affair that benefits local charities.
To obtain a permit from the City of Prescott to close the streets and obtain permission of the local merchants, all programs around the Plaza must be sponsored by a non-profit organization that is recognized as a charitable organization, i.e., a 501(c)3 under the IRS regulations. Since the Vette Sette was not a 501(c)3 organization, it was a registered 501(c)7 Social Club per IRS rules. The club had to conduct the All Corvette car show under the auspices of a charity to obtain the necessary permits. Contact was made with the local Prescott Firefighters Charities and they agreed to be the sponsor and obtain the permit, but the PVS Club had to do all the work and take full responsibility for the event. During those first several years all net proceeds reverted to the firefighter Charities, and they were considerable.
In 2014 the PVS members began discussing establishing a charitable foundation so we could be our own sponsor and give the net proceeds to the charity or charities of our own choosing. In early 2015 the members gave the go-ahead and bylaws were drafted and approved, registration with the Arizona Corporate Commission was obtained followed by application to the IRS and on November 23, 2015, the Foundation was approved by the IRS as a 501(c)3 charitable foundation/organization.
Beginning in 2016 the Prescott Vette Sette Charitable Foundation became the official sponsor of the annual All Corvette car show. Provisions in the bylaws call for net proceeds to be given to one or more local charities each year. In furtherance of this bylaw provision, the foundation Charity Committee and Trustees interview and visit with numerous local charity officials and recommended recipients each year. Currently three charities are chosen each year and proceeds distributed by each year end. The number of charities participating in the grants are not specified, it is an annual decision of the foundation Trustees.