A Wilson High golfer tees up at the Lakewood Country Club in 2008. Photo by Ryan ZumMallen.
1:00am | Several Long Beach charities will be benefiting from a of golf tournament in Texas. Officials at Valero Corp., the nation’s second-largest refiner behind Exxon Mobil Corp., recently announced they will distribute $222,000 of tournament proceeds to 13 Los Angeles Harbor area children’s organizations.
According to a spokesman for Wilmington Valero, those charities include: the Wilmington YMCA, Boys & Girls Clubs of the Los Angeles Harbor; Gang Alternatives Program; Long Beach Junior Concert Band; Long Beach Boys and Girls Clubs; Long Beach Symphony Children’s Outreach Programs; and For the Child in Long Beach.
Golf San Antonio, which organizes the Valero Texas Open, raises charitable dollars through its pro-am golf tournaments, the Birdies for Charity program in which nonprofit organizations solicit pledges for every birdie made during tournament week, and the Chip In for Schools program, which allows schools to sell discounted tournament tickets and keep all the proceeds.
This year’s tournament, which runs May 13 through May 16 at the TPC San Antonio AT&T Oaks Course, provides professional golfers a chance to earn FedEx-Cup points.
The money going to local charities was generated at last May’s events, but it’s being distributed this week, said Valero Wilmington spokesman Steve Faichney.
The Valero Texas Open and Benefit for Children Golf Classic together last year raised $8 million for children’s charities, making the Valero Texas Open one of the top fundraising events on the PGA Tour, according to event organizers.
Funds were raised through sponsorships sold during the Valero Texas Open and the Valero Benefit for Children Golf Classic. Employees throughout Valero’s system choose worthy children’s charities to receive the funds. Since 2002, more than $53 million has been raised for children’s charities.
“Once again, our sponsors and business partners have, through their efforts and generosity, come together to help us raise these funds for children’s charities,” said Mike Ciskowski, Valero’s executive vice president and chief financial officer.
Valero Energy Corp. (NYSE: VLO) is based in San Antonio with more than 21,000 employees. The company owns or operates 15 refineries with a combined throughput capacity of approximately 2.8 million barrels per day. This week Valero said refining margins are improving this year amid growing demand and that it expects that trend to continue next year. A Reuters story also states that in a presentation by Valero the company reported that capital spending will reach $2.6 billion in 2011, up from $2.3 billion this year.