FORT WORTH, Texas--(BUSINESS WIRE)--In its first year as title sponsor, Charles Schwab is introducing a number of additions to the charitable programs associated with the 2019 Charles Schwab Challenge. Today, the company announced that the enhancements to the storied golf tournament will continue off the course, as well. The tournament’s long history of helping those in need throughout the state and Dallas-Fort Worth community also will receive a fresh look and support from Charles Schwab to broaden its charitable impact.
“Schwab’s strong commitment to philanthropy and volunteer service in our communities is a core part of our culture, which makes us so proud to sponsor this historic tournament that is among the PGA TOUR leaders in charitable giving,” said Carrie Schwab-Pomerantz, who serves as president of the Charles Schwab Foundation and senior vice president of Charles Schwab. “Schwab has a long tradition of providing financial education to America’s youth through Boys and Girls Clubs of America, and we are excited to partner with BGCA and The First Tee of Fort Worth to extend educational tools and resources to help people take control of their financial futures.”
Other charitable events and programs designed to extend the tournament’s time-honored tradition of growing the game of golf and helping those in need include:
Charles Schwab Challenge Youth Festival Held May 11
Schwab joined with The First Tee of Fort Worth and the Boys and Girls Clubs of Greater Tarrant County on May 11 to host the Charles Schwab Challenge Youth Festival — a free golf clinic and interactive financial education experience. Hosted at The First Tee of Fort Worth’s Ben Hogan Learning Center, the event welcomed hundreds of area children for a day of hands-on instruction with golf professionals and financial wellness education. Charles Schwab hosted interactive activities, providing kids a hands-on and engaging simulation on financial literacy and tools for early lessons in money management. Adding to the fun as the tournament play begins, fans who make a donation to The First Tee of Fort Worth as part of Throwback Thursday also will receive a commemorative Ben Hogan bobblehead conceived of and donated by Schwab, while supplies last.
Amplifying Support and Visibility for Military Families
With play occurring over Memorial Day Weekend, the tournament will honor the U.S. armed forces and those who have made the ultimate sacrifice for our country. The Charles Schwab Challenge has helped donate 14 mortgage-free homes and financial mentoring to injured veterans through the Military Warriors Support Foundation in recent years. It’s a tradition that will continue in 2019 with Schwab’s contributions in which the tournament will donate two homes to local military families in need – doubling the home donations from last year. In addition:
- This year, with Schwab’s contributions the tournament was able to increase the size of the Patriots Outpost by 40% - a complimentary venue for active, reserve and retired military members to enjoy the tournament in a climate controlled environment near the 17th fairway. Patriots Outpost will also be the location on May 22 where Schwab volunteers will be building military care packages to be sent to active members of the military.
- On Sunday, May 26, the Charles Schwab Challenge will honor the men and women of the U.S. armed forces who lost their lives while serving their country by having a moment of silence when the tournament leaders are standing in the 14th fairway (at approximately 5:00 p.m. CST). During this time, all players, caddies, fans and volunteers will be encouraged to participate by reflecting quietly in honor of those fallen soldiers. A horn will signal the start and finish of the moment of silence, after which, play will resume.
Birdies for Charity
The Birdies for Charity program is a longstanding opportunity for charitable organizations to utilize PGA TOUR events like the Charles Schwab Challenge to further their fundraising initiatives by soliciting pledges from individuals and corporations for every birdie made during the tournament.
In 2018, almost 1,400 birdies were recorded at Colonial, generating nearly $14 million — one of the largest totals on TOUR, and the most ever for the tournament. Since the program’s inception locally in 2005, the annual campaign has generated more than $86 million for participating charities.
Schwab Volunteer Week
Schwab has a long culture of investing in its communities through philanthropy and volunteer service. As a member of the DFW community for more than 40 years, Schwab will host its annual Volunteer Week corresponding with the start of this year’s Charles Schwab Challenge. Schwab employee teams will work on projects in the DFW area that support individuals on their path to financial empowerment. In all, more than 160 local Schwab employees will be volunteering their time and talents for charitable organizations the tournament supports, including activities for local active and retired military members, guidance for youth tournament volunteers from The First Tee of Fort Worth and various Charles Schwab Challenge events throughout the week.
In 2018, nearly 7,000 Schwab employees across the country worked with more than 300 nonprofit organizations across 170 cities, contributing nearly 28,000 volunteer hours to their communities.
The 73-year-old tournament has generated cash and services for more than 150 different organizations in the last two decades surpassing $115 million. The breadth of donations focus on children and support a variety of programs, including camp scholarships for disabled, special needs or low-income children; residency programs/services for abused, neglected and at-risk children; college scholarships and educational mentoring programs; medical services for disabled and low-income children; after-school programs; and support services for homeless families.
About the Charles Schwab Challenge
As the Official Investment Firm of the PGA TOUR® and PGA TOUR Champions since 1997, Charles Schwab expanded its golf presence by assuming title sponsorship of the PGA TOUR’s annual tournament at Colonial Country Club beginning in 2019. The four-year agreement will run through 2022. The Charles Schwab Challenge is one of the country’s premier and longest-running PGA TOUR events, serving as a showcase for the game’s best players. The Wall of Champions at Colonial Country Club is populated by many of the game’s greatest names, with Fort Worth native and Colonial member Ben Hogan chief among them as the tournament’s only five-time champion.
About Charles Schwab & Co.
At Charles Schwab we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients’ goals with passion and integrity.
The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 360 offices and 11.8 million active brokerage accounts, 1.7 million corporate retirement plan participants, 1.3 million banking accounts, and $3.59 trillion in client assets as of March 31, 2019. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, www.sipc.org), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at www.schwab.com and www.aboutschwab.com.
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