Is the sum of (365) dirhams collected from philanthropists for an unspecified waqf project considered an ongoing charity (Sadaqah Jariyah) for the living and the dead, and is it permissible to include more than one deceased grandfather in this sum?

Charity is one of the deeds whose reward can be dedicated to both the living and the dead, and among the best forms of charity is ongoing charity (sadaqah jariyah). You may donate any amount of money and dedicate its reward, or a portion of it, to more than one person, whether living or deceased. It is also permissible to include yourself in the reward with them. This applies if the charity comes from your own money. However, if you are collecting the charity, the reward goes to the one who donates it, and you receive the reward for collecting and striving. You can then dedicate the reward for your efforts to whomever you wish.