Parsec Financial to honor recipients of Parsec Prize
Company's 2009 charitable contributions total more than $100,000

In a time when many companies are scaling back charitable contributions as a result of the economy, Parsec Prize continues to devote 2 percent of gross revenues to local non-profits each year. Half of the company's annual giving is devoted to the quarterly Parsec Prize, through which the company has given $276,000 to community organizations since the program was founded in 2005.

"During recessionary times, the need for charitable assistance goes way up," said Parsec Chairman and CEO Bart Boyer. "Unfortunately, charities are finding that their organizations' needs are greater than the available funds, so maintaining our community outreach is important now more than ever. It would be inappropriate to lower our charitable giving simply to make it a bit more comfortable for ourselves while so many are suffering."

Pictured right to left: Scott Dedman (Mountain Housing Opportunities), Bart Boyer (Parsec Financial), Rick Lutovsky (Asheville Chamber of Commerce), Robin Myer (Big Brothers Big Sisters), Dick Mauney and Nancy Miller (AB Tech Foundation)

Parsec Financial is hosting a reception on November 19 for the recipients of the 2009 Parsec Prize, each of which has received $14,000. Honorees are Mountain Housing Opportunities (first quarter); Big Brothers Big Sisters of Western North Carolina (second quarter); A-B Tech Foundation (third quarter); and Asheville Area Chamber of Commerce (fourth quarter).

The $56,000 distributed through this year's Parsec Prize represents half of the company's charitable contributions in 2009. The rest was distributed via various sponsorships as well as through matching a portion of employee donations. These contributions have gone to organizations as diverse as Walk Now for Autism, UNCA Foundation, Pisgah legal Services, Helpmate, Western North Carolina Rescue Foundation and UNC's Lineberger Comprehensive Cancer Center, to name a few.

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.

"We at Parsec believe very strongly that the better our clients and community do, the better we do," said Boyer. "However, everyone needs to do their part. Parsec gives generously, our employees are very involved in giving time and money to charities, and we encourage our clients to be charitable as well."

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 throughout the year. Interested non-profits can find more information at www.parsecfinancial.com/parsecPrize.html.

For nearly 30 years, Parsec Financial has provided financial planning services to Western North Carolina and beyond. With more than $910 million in assets under management as of September 30, 2009, Parsec provides financial planning, investment management, and estate and trust advisory services. In 1999, Parsec opened a Charlotte office, which offers the same types of services as its Asheville headquarters.

For more information on Parsec Financial, visit www.parsecfinancial.com or call the Asheville office at (828) 255-0271.

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par·sec /par-sek/ (noun) a unit of distance...equivalent to 206,265 times the distance from the earth to the sun, or 3.26 light-years.

MEDIA CONTACT
Stephanie Smith, The Brite Agency
Parsec Financial Management Media Representative
828.350.9500, ssmith@briteagency.com

History of Parsec Prize Recipients

2005
1st Quarter: The Health Adventure
2nd Quarter: Children First
3rd Quarter: RiverLink
4th Quarter: Asheville/Buncombe Education Coalition

2006
1st Quarter: Habitat for Humanity
2nd Quarter: Eliada Home
3rd Quarter: Mountain BizWorks
4th Quarter: Handmade in America

2007
1st Quarter: Pisgah Legal Services
2nd Quarter: North Carolina Arboretum
3rd Quarter: UNCA Health and Wellness Group
4th Quarter: OnTrack Financial Education & Counseling

2008
1st Quarter: Quality Forward
2nd Quarter: YMCA of Western North Carolina, YWCA of Western North Carolina
3rd Quarter: Literacy Council of Buncombe County
4th Quarter: Junior Achievement

2009
1st Quarter: Mountain Housing Opportunities
2nd Quarter: Big Brothers, Big Sisters of Western North Carolina
3rd Quarter: A-B Tech Foundation
4th Quarter: Asheville Area Chamber of Commerce