Press Room > Press Release
Stanford Financial Group Distributes $45,000 to Cultural Organizations
4/2/2008
Lori Guyton
Stanford Group Company
901-277-6066
loriguyton@comcast.net
Krista Terrell
Arts & Science Council
704-335-3035
krista.terrell@artsandscience.org
(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.