LONDON Benefit Disburses Funds to Charities
The London Charity Benefit Committee has begun disbursing funds to the Event’s beneficiaries. The Benefit, held on October 28, 2004, raised over £150,000 for charities working to promote health and education in EM countries.London Benefit Co-Chairs Elaine Skinner (RBC) and Jonathan Murno (EMTA) presented representatives from Task Brasil with a cheque for £63,400 (US$123,600) in London on January 20, 2005. This represents approximately 25% of the organization’s annual budget and will be used to provide shelter, food, medicine and vocational training for 40 Brazilian street children for one year, as well as pay the salaries for staff at the shelter.
In addition, a similar grant was also issued in January 2005 to Cotlands, a hospice and care center for children affected by the HIV/AIDS pandemic in South Africa. This represents approximately 5% of Cotland’s annual budget and will be used to construct a kitchen to provide meals to children whose parents are too ill to provide adequate nutrition. The grant will also fund a hospice and outreach program in two of the areas in South Africa with the highest rates of HIV-infection in the country. Representatives of the Benefit Committee plan to visit the site in March 2005.
The Benefit Committee hopes to complete grant disbursement shortly as final pledges are collected. Initial planning on the 2005 Benefit has begun and those interested in joining the Benefit Committee are urged to contact Elaine Skinner at Elaine.Skinner@rbccm.com or Jonathan Murno of EMTA at email@example.com.
EMBL Benefit Co-Chairs Elaine Skinner (RBC) and Jonathan Murno (EMTA) present Task Brasil representatives with a check for £63,400 in London on January 20, 2005. Photo: Mike Sweeney
||NYC CHARITY BENEFIT RAISES $340,000, UP 70% FROM 2003 GALA
The Emerging Markets Charity Benefit in New York was the industry’s most financially successful in years, raising over $340,000. The NYC event raised 70% more than in 2003, when $200,000 was raised and distributed to charities. Expenses accounted for 26% of the event’s budget, an unusually low expense ratio for a benefit dinner.
Combined with the more than £150,000 (US$292,500) raised at the October 28, 2004 London gala, a total of more than US$632,500 was raised for charities in 2004 by the Emerging Markets debt industry.
The "Bombay Nights" event had an Indian theme, featuring fine Indian cuisine and sitar music. The event was held at the fashionable Puck Building in downtown Manhattan and attended by a sell-out crowd of 475 EM professionals.
During the event, Rick McVey, Chief Executive Officer of MarketAxess presented a check to committee organizers for $45,500, representing 50% of the proceeds from the firm’s Charity Trading Day, held on October 6, 2004. MarketAxess had also presented a similar check to the London Benefit Committee two months earlier.
In addition to the MarketAxess’ Charity Trading Day sponsorship, table sales and program advertisements, organizers also raised money for the Benefit by conducting live and silent auctions. Lucky bidders won a number of prizes including trapeze lessons, circus and opera tickets, fishing and golf excursions, sailing cruises and vacations in Vermont, Scotland and France. Comedian Johnny Lampert served as auctioneer after delivering his own stand-up routine.
On December 15, 2004, initial checks totaling $116,000 were disbursed to the evening’s three beneficiaries: EMPower, ProMujer and SAAAIDS. EMPower, founded by former and current EM professionals, funds a number of health and education projects throughout the Emerging Markets. ProMujer provides micro-finance loans to women in Latin America, while SAAAIDS works to prevent the spread of HIV/AIDS in India. Final checks will be issued to the charities as soon as final payments have been received from attendees and auction winners.
Congratulations and thanks to the Benefit Committee for another year of hard work and dedication in organizing the event. Benefit Committee members included Tom Baluk (J.P. Morgan), Maria Garcia (Lehman Brothers), Hema Kailasam (Deutsche Bank), Mike Marian (Alliance Capital), Chandra Metzler (Deutsche Bank), Dennis Rodrigues (MarketAxess), Denise Simon (The Atlantic), Marcy Swank (ING Financial Markets), Sue Waterbury (Goldman Sachs), Adam Weiner (Oppenheimer), and EMTA’s own indefatigable Jonathan Murno (Committee Chair).
EM BENEFIT NYC MAKES FINAL DISBURSEMENTS FOR 2004, PLANS 2005 EVENTS
Final disbursements from the 2004 Emerging Market Charity Benefit (EMCB) were issued in April 2005, following the collection of the last remaining donations. A total of $342,493.49 was disbursed to three organizations working to improve the lives of people in emerging countries: EMPower, founded by former and current Emerging Market professionals, which funds a number of health and education projects; ProMujer, which provides micro-finance loans to women in Latin America; and SAAAIDS, which works to prevent the spread of HIV/AIDS in India.
2004 proceeds were 70% above 2003 disbursements of $200,835 and more than double the $161,359 raised by the Emerging Markets debt industry in 2002. The event’s expense ratio was 26%, an unusually low expense ratio for a benefit dinner.
The EMCB Planning Committee held meetings on April 5 and May 10, 2005 to discuss preparations for this year’s gala. After visiting several possible venues, the Committee selected Guastavino’s on East 59th Street in Manhattan as the site for the event, slated for December 1, 2005. Additional details will be announced shortly.
At its next meeting, on June 13, 2005, the Planning Committee selected finalist beneficiaries for the 2005 event. The Committee voted to select 4 beneficiaries in 2005:
EMPower, which funds a number of health and education programs around the globe www.empowerweb.org
ProMujer, which makes micro-loans to women in Bolivia, Mexico, Nicaragua and Peru www.promujer.org
Resource Foundation, which partners with local nonprofits in Latin America to promote economic development and sustainable agriculture www.resourcefnd.org
World Education and Development Fund, which promotes education in Latin America www.worldfund.org
2004 Supporter feedback on the beneficiaries is welcome. Please provide comments no later than Tuesday, June 22 to Jonathan Murno at firstname.lastname@example.org.
Other charities included Accion International, Goal USA, NESST, SAAIDS and The Sri Lanka Care Foundation. EMCB’s Planning Committee seeks to fund smaller, well-run organizations which have 501(c) (3) tax exempt status, with annual operating budgets of less than US$5 million and for which EMCB proceeds would provide meaningful assistance. Because EMCB wishes to assist charities in as wide a variety of emerging countries as possible, it will also take into account geographic diversity.
For more information, please contact a member of the 2005 Benefit Committee: Jonathan Murno (EMTA, Committee Chair), Tom Baluk (J. P. Morgan), Maria Garcia (Lehman Brothers), Hema Kailasam (Deutsche Bank), Chandra Metzler (Deutsche Bank), Anne Milne (Deutsche Bank), Owi Ruivivar (Goldman Sachs Asset Management), Dennis Rodrigues (MarketAxess), Denise Simon (The Atlantic), Marcy Swank (ING Financial Markets), and Adam Weiner (Oppenheimer).
"Under a South African Sky" Industry Benefit in London Raises Funds for EM Charities
The Emerging Markets Annual London Benefit was held at the Park Lane Hilton on Thursday, October 28, 2004. The black tie gala broke previous attendance records when all 750 available seats were sold out in eight business days in September 2004. Apparently few of the evening’s revelers were disappointed as the ballroom remained at full capacity until its 1 am closing time.
The event, "Under a South African Sky," included South African drummers, a live band, a dj, dinner (who can forget that tiramisu?), dancing, as well as live and silent auctions. Also included as part of the evening’s entertainment was a drawing to determine the winner of a raffle. Simon Treacher of BlueBay Asset Management ended up holding the lucky ticket for a diamond, donated by jeweler Wint & Kidd, worth £10,000, to be designed to his specifications.
The generosity of the EM crowd was quickly evident as a number of items were sold off at considerable sums. Up on the auction block were holiday trips to St. Lucia, Turkey, Scotland, Spain, Switzerland, South Africa and the USA, as well as a cooking course in France, polo lessons, golfing trips, couture items, diamond earrings, a day on the set of the BBC program "Top Gear" and memorabilia signed by the England rugby squad, the Chelsea football team and the Rolling Stones. Fundraising was also boosted by MarketAxess and Standard Bank, both of which sponsored the event. Co-sponsorship funding was provided by WestLB and Central Search.
Proceeds from the evening, which event organizers hope will reach at least £120,000 (US$220,000), will be distributed to Cotlands, an organization fighting HIV/AIDS in South Africa; Task Brasil, which works to educate street children in Brazil; and ChildHope UK, which serves to educate children in a variety of EM countries. The Committee expects to make disbursements shortly as final auction proceeds are received.
Photos from the event are still available at http://www.capitallifephotography.co.uk/events.php. Please enter user name ‘redfridge’ and password ‘hilton.’
Hats off to Committee Co-chairs Elaine Skinner (RBC) and Jonathan Murno (EMTA), as well as Emma McClintock (BB Securities), Ingrid Iversen (Insight Investments), Monika Machon (AIG), Nadia Saliba (Goldman Sachs), Joanne Horner (Standard Bank), Paul Charman (WestLB), Dominic Holland (MarketAxess), Clare Turnbull (Bear Stearns) and Tania Kotsos (RBC) for their boundless enthusiasm and hard work on making the Benefit such an unqualified success.