Despite the challenging economy, Asheville-based wealth management firm Parsec Financial has continued its tradition of donating two percent of gross revenues to local non-profits every year. Half of the company's annual giving is devoted to the quarterly Parsec Prize, through which the company has given over $337,000 to community organizations since the program was founded in 2005.
On December 9, Parsec toasted the 2010 recipients and awarded each a plaque during a reception held at Parsec’s Wall Street headquarters. “It’s extremely important that we continue to support worthy organizations here in our community, especially when times are troubling for so many,” noted Parsec Managing Partner Rick Manske.
Honorees included Carolina Mountain Land Conservancy and Southern Appalachian Highlands Conservancy, two like-minded organizations which shared an $18,000 Parsec Prize, and Manna Food Bank, Helpmate and Asheville City Schools Foundation, which were awarded $18,000 each.
Parsec's charitable giving is geared toward organizations whose mission is to improve the quality of education and prospects for economic development in the communities it serves, which include Charlotte and Western North Carolina.
"At a time when many organizations are being forced to cut back on their giving, we were actually able to increase our donations 20 percent compared with 2009, thanks to Parsec’s strong performance in 2010,” said Manske. “We’re very happy to do our part to help where it’s needed, right here at home.”
Past recipients of the Parsec Prize have included organizations such as Mountain Biz Works, Literacy Council of Buncombe County, Eliada Home, the North Carolina Arboretum, Pisgah Legal Services, On Track, The Health Adventure and Junior Achievement.
Parsec Financial accepts applications for the Parsec Prize from September through February. Interested non-profits can find more information at www.parsecfinancial.com/parsecPrize.html.
About Parsec Financial:
For over 30 years, Parsec Financial has provided financial planning services to Western North Carolina and beyond. With over $1 Billion under management as of September 30, 2010, Parsec provides asset and investment management, retirement planning and estate and trust advisory services. Parsec, which is independent, locally owned and acts as a fiduciary, opened a Charlotte office in 1999. For more information on Parsec Financial, visit www.parsecfinancial.com or call the Asheville office at (828) 255-0271.