The Trustees of Parker Ranch Foundation have announced that the Trust is increasing nearly 50% increase in its annual distribution. The total value of the annual distribution goes to $3.6 million as compared to the previous year of 2019.
The company has further added that it has made the decision on a multi-year effort by the Trustees and it also provides assistance from the management team for the same.
Chair of Trustees, Tim Johns said, “This has been a coordinated project across the entire organization and incorporating strategic thinking from our leadership and external advisers, including Northern Trust and Callan. This distribution is meaningful for two other important reasons. First, the significant increase comes at a time that our local economy needs support.”
“Our Beneficiaries are charitable organizations focused on health care and education, parts of our economy under severe strain given the broad impact of COVID-19. Second, this distribution brings the cumulative total distributions to slightly more than $40 million since the creation of the Trust in the early 1990s. Hopefully, Richard Smart would be pleased with our efforts to support our Beneficiaries, if he were alive today to see its positive contribution to our community,” Tim Johns further added.
Chief Executive Officer of Parker Ranch, Dutch Kuyper said, “Our management team has been working hard supporting the Trust in developing an integrated view of our investment portfolio, real assets and various operating business, including the ranching operation.”
“We worked in close collaboration with our investment advisers to evaluate various distribution policies studying a variety of approaches including the models adopted by Yale and Princeton. We believe our new approach can withstand the test of time in a variety of market conditions while ensuring the purchasing power of the distribution is maintained,” Dutch Kuyper further concluded.