One of the fundamental values at Parsec Financial is giving back to the communities in which we serve. We have long maintained a significant commitment to charitable giving and this core value is why we established the Parsec Prize in 2005.
The Parsec Prize is designed to help local non-profits further their missions and help improve the lives of those served in our communities. Since 2005 Parsec has given more than $1.3 million through 72 prizes to local non-profits. The Parsec Prize represents approximately one-half of our annual charitable giving.
Each year, as we review Parsec Prize candidates, we are reminded in powerful ways of the invaluable work by our area nonprofit organizations. Their work is honorable and they service critical missions. Many of these entities are quiet champions, advocating for people in difficult circumstances. We are honored to know them and contribute to their success.
Grants are made to non-profit organizations that are certified tax-exempt under section 501(c) (3) of the U.S. Internal Revenue Service codes. Though they may be commendable organizations, in order to keep our charitable giving more focused, the following are ineligible for application to the Parsec Prize:
Endowments or capital campaigns
Fundraising activities, such as benefits, charitable dinners, galas or sporting events
Goodwill advertising, souvenir journals or dinner programs
Individual needs, including scholarships, sponsorships and other forms of financial aid and assistance
Political causes, candidates, organizations or campaigns
Travel for individuals or groups
Applications are now closed for the 2020 grant cycle. We wouldn’t be where we are today without a big investment in education, so in 2020 we will celebrate our 40th anniversary by focusing this year’s Parsec Prize grants on supporting educational/literacy programs in the communities in which we serve. We will announce the winners mid-year with more specific timing coming soon so please stay tuned!