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Napa Valley Vintners Distribute $6 Million to Napa Valley Beneficiaries
Total proceeds from 23 years of world's largest charity wine event nearing $50 million
10/9/2003 - St. Helena, CA, - In a special ceremony today in Napa, the Napa Valley Vintners (NVV) announced the distribution of $6 million to numerous and varied Napa County health, youth and housing non-profit agencies.
2003 Napa Valley Wine Auction (NVWA) Chairpersons -- Bob, Roger, Vera and Evalyn Trinchero distributed the $6 million to more than 15 local Napa County beneficiaries and special funds (see attached 2003 Summary of Funding).
"As vintner chairs of the 2003 Napa Valley Wine Auction, my family and I are pleased to present the beneficiaries with these funds to support the valuable services they provide to our community," says Roger Trinchero, President and CEO of Trinchero Family Estates. "Thanks to the generosity of the vintners, volunteers, bidders, donors and everybody attending the Wine Auction, over 93% of the monies raised will go directly to our beneficiaries."
The Trincheros, along with NVV President Clay Gregory, distributed checks to 15 local nonprofit organizations - benefiting different programs. Over $2.8 million was awarded to local health care organizations; $960,000 to youth development agencies; $517,500 to affordable housing organizations; $519,500 to a Special Project Fund that will benefit the greater community.
In addition to the millions in direct distributions, $1.2 million was deposited into the Health Care Fund. The Health Care Fund is an account established and maintained by the NVWA to fund special health-related projects and to ensure funding in the event of a future shortfall in Auction proceeds. Each year, a percentage of Auction proceeds are contributed to this fund. This year, 20 percent of the 2003 Auction proceeds went to the Health Care Fund.
Additionally, the Health Care Fund annually awards two percent of the interest it accrues over the previous year. This year, $250,000 was awarded to Clinic Ole for expected shortfalls in government funding.
For the third year running, a special contribution was set aside for unanticipated community needs. Nearly $1 million has been set aside to benefit a variety of pending youth and housing projects that will be funded in the next six months to two years.
This brings total contributions from the 2003 Auction to $6 million, elevating contributions by the world's largest charity wine event to more than $48 million since the NVWA's inception in 1981.
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