Pebble Beach Company Foundation Annual Report 2019

2019 Annual Report 1 Hubert Allen Theodore Balestreri Mercedes De Luca Dan Green Maggie Hardy Judah Matthews Susan Merfeld Courtney Nantz Nanci Perocchi John Sawin Robert Skinner Mark Verbonich PEBBLE BEACH COMPANY FOUNDATION BOARD OF DIRECTORS SUSAN MERFELD | PRESIDENT Pebble Beach Company Foundation BILL PEROCCHI | CEO Pebble Beach Company Dear Friends, We are excited to share our 2019 Pebble Beach Company Foundation Annual Report, and present the accomplishments and impact the Foundation has had throughout Monterey County. Although we are writing this in the summer of 2020, during the unprecedented times the world is facing, we thought it was still important to showcase our 2019 work. Now more than ever, Monterey County youth need our help, and we appreciate your continued support of the critical work of Pebble Beach Company Foundation. As you will notice throughout the report, we are highlighting the Foundation’s scholarship programs and some of our exceptional Company and Community Scholars. We believe that scholarships change lives and education is the key to breaking the cycle of poverty. Only 9% of Americans from the lowest income quartile receive a bachelor’s degree by the age of 24, yet research continues to show that the most powerful way for low-income and first-generation students to earn a life of opportunity is through a college degree. Our scholarship programs are directly aimed at changing these trends by providing opportunity and hope for children of all backgrounds. We also continue to partner with Monterey County’s best youth-focused nonprofits that are addressing the significant needs in our community and share the core belief that every child in Monterey County deserves the opportunity to achieve their full potential. In 2019 alone, we awarded grants to over 100 local nonprofits and were able to make a meaningful difference in the lives of more than 10,000 Monterey County youth from pre-kindergarten to post- graduate. The Foundation also reached an important milestone in 2019 by surpassing $10 million in giving since its inception. We are especially proud of the tremendous growth the Foundation has achieved in the last five years and are excited to continue this trend into the future. All of this work would not be possible without your generous support. Thank you for believing in our vision and working with us to ensure that all Monterey County youth have access to an exceptional education and the opportunities that come with it. Looking ahead, we know that the needs in our community will continue to grow. As we navigate these difficult times, we remain as committed as ever to working to provide a brighter future for all Monterey County youth. WELCOME