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News Release
For Immediate Release
April 2, 2008
Contacts:
Lori Guyton
Krista Terrell
Stanford Group Company
Arts & Science Council
901-277-6066
704-335-3035
loriguyton@comcast.net
krista.terrell@artsandscience.org
Stanford Financial Group Distributes
$45,000 to Cultural Organizations for Fiscal Responsibility and Management
In the Second Annual Stanford Financial Excellence in Culture Award
(CHARLOTTE, N.C.) – Festival in
the Park, Wing Haven Gardens & Bird Sanctuary and Carolina Raptor Center are
the recipients of the 2008 “Stanford Financial Excellence in Culture Award”
presented by Stanford Group Company in conjunction with the Arts & Science
Council (ASC). The program, in its second year, recognizes and rewards
cultural organizations that demonstrate exemplary financial management by
providing unrestricted grants to help them accomplish their mission and
development goals. Stanford Group Company is a member of Stanford Financial
Group, a global network of financial services companies.
The program, developed by Stanford in Memphis, TN, is the only one of its
kind in the country with similar programs in Memphis, Houston, Dallas and
Longboat Key, Fla. By rewarding fiscal responsibility, it encourages and
develops cultural organizations’ ability to manage their finances. The
program in Charlotte has expanded from awarding organizations in two
categories last year (large and small) to three (large, mid-size and small)
this year.
“As a wealth management firm, we understand the importance of fiscal
management and being good stewards of financial resources,” said Eddie
Rollins, executive director for the Carolinas for Stanford Group Company.
“We're glad to be able to work with ASC and support these successful
organizations and the good work they do. We’ve seen that rewarding
organizations for good fiscal management does indeed assist all of the
member organizations in being more responsible and more cognizant of the
importance of financial health, and that’s a benefit that helps them all
over the long term,” he said.
In the category of small organizations, with annual revenues between $50,000
- $299,999, Festival in the Park is the recipient receiving $10,000.
The other finalists in that category were Carolina Voices and Chamber Music
at St. Peter’s. For the mid-size organization category, with annual
revenues between $300,000 - $999,999, Wing Haven Gardens & Bird Sanctuary
is the recipient of $15,000. Carolinas Concert Association and Historic
Latta Plantation were the finalists. In the large organization category,
with annual revenues in excess of $1 million, Carolina Raptor Center
is the recipient receiving $20,000. McColl Center for Visual Art and The
Mint Museum were the finalists. In addition to the monetary award, the
organizations, along with the Stanford offices in Memphis and Charlotte,
received an original work of art commissioned by regional ceramic artist
Tomoo Kitamura. Kitamura, who lives in Concord, N.C., received a $5,000
commission to create the award. His work has been exhibited across the
country and is featured in several corporate collections.
Cultural organizations who received operating support from ASC in fiscal
year 2008 were eligible for the award. ASC analyzed three-year financial
and operating trends based on audited financials for fiscal years 2005-2007.
Based on that assessment, an anonymous slate of nominees based on an
objective review of quantitative data were presented to a panel comprised of
representatives from the Stanford Group Company and ASC’s Board of
Directors.
“Long-term financial sustainability of the cultural sector is an important
ASC priority, and the generosity of the Stanford Financial Group allows us
to reward excellence in this area.” said ASC President & CEO Lee Keesler.
“To the broader boards and staff of all twelve finalists, we extend our
thanks and congratulations for being good stewards of resources invested in
their organizations. Special recognition is richly deserved by Festival in
the Park, Wing Haven Gardens & Bird Sanctuary and Carolina Raptor Center,
who’ve set terrific examples for fiscal responsibility.”
About Stanford Financial Group
Stanford Financial Group is a privately held global network of independent,
affiliated financial services companies led by Chairman and CEO Sir Allen
Stanford. The first Stanford company was founded by his grandfather, Lodis
B. Stanford in 1932. Stanford’s core businesses are private wealth
management and investment banking for institutions and emerging growth
companies. The Stanford Financial Group of companies provides private and
institutional investors with global expertise in asset allocation
strategies, investment advisory services, award-winning policy and equity
research, international private banking and trust administration, commercial
banking, investment banking, merchant banking, institutional sales and
trading, real estate investment and insurance. Stanford has over $43 billion
in assets under management or advisement. Stanford Financial has made it a
priority to invest in the communities in which it operates across the globe
through signature corporate philanthropy initiatives with nonprofit
organizations such as St. Jude Children’s Research Hospital and countless
local and national charities that strengthen communities. Securities
products and services are offered in the United States through Stanford
Group Company, member FINRA/SIPC. Stanford Financial Group is not a legal
entity, but a registered trademark that encompasses the global network of
independent, but affiliated, privately held and wholly owned entities.
More information can be found at www.stanfordfinancial.com. |
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