Parsec Financial Management has long maintained a significant commitment to give charitably to community needs. Parsec's directors believe that efforts focused in the broadly defined fields of education and economic development hold the most potential to improve the quality of life and access to meaningful opportunities for the people these programs serve.  Parsec is, therefore, committed to supporting the invaluable work of organizations whose mission is to improve the quality of education and prospects for economic development in the communities in which Parsec has a presence. 

Although the size and structure of Parsec's charitable giving is subject to change, cur­rently we budget two percent of annual revenues to our charitable giving. One percent of estimated reve­nues for the current year will be devoted to education and economic development and will be awarded to one organization quarterly through the "Parsec Prize." The other one percent of revenues will be paid out in smaller amounts to many more recipients.  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
• Religious organizations
• Sports sponsorships
• Travel for individuals or groups

Guidelines for Application for the Parsec Prize

Applicants may choose to highlight the general operations of their organization or a specific program. In either case, to apply for funding, Parsec asks that organizations prepare a 1-3 page letter containing the following information:

• Name and address of organization
• A brief history and description of the organization and its mission
• Geographic area and target population served by the organization
• A description of the needs/goals to be addressed by the organization/project and the means/methods of addressing these needs and reaching these goals

Organizations should also include the following as attachments:

• Annual operating budget of the organization. Applications highlighting a specific project must also include a separate project budget.
• A copy of its IRS 501(c) (3) determination letter.
• A copy of its latest Annual Report or Audited Financial Statements, if available.

Please address all applications to the following address:

Parsec Prize Program
Parsec Financial Management
P. O. Box 2324
Asheville, NC  28802