Great idea, but several organizations are alreay doing it. Kraynick fixes up over a hundred bikes a year for a program run by the City of Pittsburgh Police. I think they do giveaways in June and in December.
Groups outside the City do it too. Rapp's in Butler was doing it there for many years (probably still does.)
And, just as general information, funding for BIKE HELMETS is really hard to come by. Bikes are relatively much easier to have donated, etc.
The contact for the City of Pittsburgh's EXISTING bicycle giveaway program is Officer Melissa Gutch.