Community Impact Community Support Community Involvement Community Investment Community Leadership Report 2008

Transcription

1 Community Impact Community Support Community Involvement Community Investment Community Leadership Report 2008

2 A LETTER FROM ANDREW DUFF Dear Community Colleague: 2008 will be remembered by many for its magnitude of change. The change encompassed the economy and capital markets, and more broadly, environmental and social aspects of our communities. While this transitioning landscape is contributing to a different operating environment at Piper Jaffray, we continue to be aware of our corporate impact on, and interdependence with, our community and other key stakeholders. Piper Jaffray maintains a focus on its solidly rooted, time-tested core values including leadership and community partnership. We remain aware of our firm s responsibility in business and society which is embedded within our corporate impact and of the important link of these activities to our firm s long term sustainability. We remain committed to our clients, our shareholders, our employees and members of the broader community. In 2008, Piper Jaffray was privileged to continue to incorporate community involvement and outreach into the work we do. Given the challenging market conditions and the effect on company earnings overall, we worked diligently to balance corporate and foundation resources. Our community initiatives this year included increased participation in our annual employee giving campaign and major grants supporting critical funding areas, such as community investment in low-income neighborhoods and support for youth leadership development. Piper Jaffray employees also continued to donate time, talent and resources to social initiatives across the country, bringing to life our mission in tangible and personal ways. I proudly invite you to review our 2008 Community Annual Report and the detail behind some of the activity contributing to our firm s broader sustainability. Sincerely, Andrew S. Duff Chairman and CEO

3 A HISTORY OF COMMUNITY LEADERSHIP Over the years, we ve kept our company solidly rooted in our time-tested core values. These values, modeled by our founders in the late 19th century and embraced by our managers and employees today, include strong industry leadership and community partnership. Our values guide us and help us make a positive impact. And as we grow, we remain committed to our clients, our shareholders, our colleagues and the communities where we do business. As evidence of our commitment, Piper Jaffray contributes 5 percent of its pre-tax earnings to the community as part of the Minnesota Keystone Program, a voluntary initiative founded more than 25 years ago that promotes corporate support for communities. That translates into more than $11 million in community contributions and more than $2 million in employee volunteer hours in the past five years alone. HISTORY For more than a century, Piper Jaffray has been evolving as a leading financial services company. We pride ourselves in our guiding principles and believe that contributing our talents and resources to serve the communities in which we live and work is a fundamental part of smart business Today

4 CONTINUING THE FIRM S COMMUNITY IMPACT Community Leadership Mission: Piper Jaffray works to build vibrant and sustainable communities. Through leadership and partnership, we make a positive impact. the Piper Jaffray Foundation, corporate giving and sponsorship dollars are focused on the following: Community investment in neighborhood-based, small business programs in low-income areas that promote sustainable employment and replicable success. Education which deepens knowledge of the economy, with emphasis on emerging industries. Major arts and cultural organizations that enhance the quality of life in the community, supported through sponsorships. Other Priorities: ~ Innovative health programs that develop and track new techniques and advances in children s chronic health concerns. ~ Initiatives that encourage civic engagement of young people. ~ Youth leadership development, with an emphasis on access to higher education and development of diverse leaders who are considering careers in science, technology, engineering and math (STEM). In 2008, nearly 40 percent of employees participated in several robust employee programs that encourage and support community participation. Matching gift Program: maximizes employees financial contributions to the community through a firm match of $50 or more, with a $1,500 annual maximum. Volunteer Program: encourages and supports employee volunteer efforts by providing financial support to nonprofit organizations where employees volunteer. Community Leader Program: encourages and supports sustained volunteerism for Piper Jaffray leaders who contribute more than 40 hours annually to a nonprofit and serve as a member of its board of directors. The employee may qualify to apply for funding support for the qualifying nonprofit.

5 By the Numbers: Piper Jaffray Community Giving in 2008: $2.365 Million Piper Jaffray 2008 Total Giving 9% Administration 15% Employee Programs 37% Corporate Giving 19% Foundation Grantmaking 20% Volunteerism Piper Jaffray 2008 Foundation and Corporate Giving by Focus Area 10% Youth Leadership and Civic Engagement 5% Environment 11% Community Investment 11% Economic Education 15% United Way 27% Health 21% Arts and Culture

6 Giving Highlights: Community Needs. Joint Commitment to Create Solutions. Behind every grant, every committed employee volunteer, every sponsorship, is a story. Here are highlights of 2008 giving activity by focus area. Community Investment, Small Business Local Initiatives Support Corporation (LISC), Minneapolis/St. Paul, MN LISC Twin Cities supports nonprofit community development organizations with grants, loans and expertise to help them construct businesses, community centers, and affordable homes in low- and moderate-income neighborhoods. The multi-year support of Piper Jaffray has helped LISC transform neighborhoods through housing and small business development, and other community building strategies. In the past 20 years, LISC Twin Cities has invested more than $370 million in grants, loans and equity, leveraging an additional $1.2 billion in total development. That investment has created more than 8,700 affordable homes and apartments, and more than 1.3 million square feet of commercial and community space in some of the Twin Cities most challenged neighborhoods. *Homes for Learning *With support from LISC Twin Cities, Dayton s Bluff Neighborhood Housing Services developed Homes for Learning as an effort to help stabilize the student population and form a community of engaged, supportive families committed to academic improvement on the East Side of St. Paul. LISC Twin Cities provided a $40,000 grant and LISC s affiliate, the National Equity Fund, invested more than $2.4 million in equity. phillips neighborhood support Neighborhood Development Corporation, Minneapolis/St. Paul, MN Piper Jaffray is proud of its multi-year relationship with NDC to help revitalize a commercial section of the Lake Street area of Minneapolis. Following years of employee mentoring and consulting in small business minority start-ups as well as multi-year grant funding, the 2008 grant continued the focus on entrepreneurship and community development, specifically at Plaza Verde and Midtown Global Market, both on Lake Street in the Phillips neighborhood of south Minneapolis. Goodwill-Easter Seals Minnesota, Minneapolis/St. Paul, MN Piper Jaffray also made a grant to Goodwill-Easter Seals Minnesota for its business training and workforce development program for microentrepreneurs at Midtown Global Market and other businesses along Lake Street in Minneapolis. Volunteers of America, Alexandria, VA This national nonprofit, faith-based organization provides human service programs with an opportunity for individual and community involvement. It is the largest provider of affordable housing and has been doing extensive work in this field in and around the New Orleans area following Hurricane Katrina. Piper Jaffray supported its annual national conference in 2008, held in New Orleans.

7 Giving Highlights: Economic Education BestPrep, Brooklyn Park, MN Piper Jaffray provided grant funds and volunteers to support BestPrep s ementors student mentoring program, as well as Minnesota Business Venture, an intensive, weeklong summer program for high school students. BestPrep prepares Minnesota students with business, career and financial literacy skills through experiences that inspire success in work and life. Arizona Council on Economic Education, Scottsdale, AZ ACEE prepares teachers to help Arizona students develop economic ways of thinking and problem-solving that they can use in their lives as consumers, savers, investors, workers, citizens and participants in a global economy. A Piper Jaffray grant supported teacher workshops and online lessons designed to help students, especially low-income students, develop economic ways of thinking and problem solving for application in the real world.

8 Giving Highlights: Arts and Culture The Children s Theatre Company, Minneapolis, MN Premier sponsorship by Piper Jaffray of the popular Peter Pan and Romeo & Juliet helped this Tony Award-winning theater delight young and old alike. Peter Pan featured brilliant shadow puppetry and Romeo & Juliet was performed promenade style, with the audience in the center of the action. The Frick Collection and Reference Library, New York City, NY Piper Jaffray provided support to The Frick Collection, which includes some of the best-known paintings by European artists, major works of sculpture, eighteenth-century French furniture and porcelains, Limoges enamels, Oriental rugs, and other works of remarkable quality. The Children s Museum, Seattle, WA Piper Jaffray provided sponsorship support to the Children s Museum for the Passport to Play membership program. Through collaboration with social service organizations, the museum offers free, year-long family memberships to low-income, homeless and distressed families. The sponsorship of Piper Jaffray allowed 77 additional at-risk families to attend the Museum. MOSAIC, A Festival of Arts, Minneapolis, MN Piper Jaffray has been a sponsor of Mosaic since its inception in This celebration of cultural diversity through the arts provides an opportunity for the community to experience a wide spectrum of cultural and artistic activities in Minneapolis. The festival promotes community visibility of the richness and diversity of arts and cultures in Minneapolis. Photo by Rob Levine Peter Pan performance at The Children s Theatre Company 2. A scene from Romeo & Juliet 3. The Frick Collection and Reference Library 2 Photo by Dan Norman. 3

9 Giving Highlights Other Minneapolis Heart Institute, Minneapolis, MN A grant from Piper Jaffray supported new clinical research internships for three students (high school, undergraduate or medical students) interested in cardiovascular medicine. Through direct hands-on research and exposure to sub-specialties, the program seeks to build interest in cardiology careers in a community that faces a shortage of cardiologists, especially those in clinical research. This program aligns with our youth leadership development focus with an emphasis on science, technology, economics and math (STEM) education. Admission Possible, Saint Paul, MN This nonprofit is helping 1,300 promising, low-income high school students prepare for and earn admission to college by providing ACT/SAT test preparation, admissions and financial aid consulting, and guidance in the transition to college. A Piper Jaffray grant made this intensive college preparatory programming possible for more than a dozen high school students in the Greater Twin Cities. Denver Public Schools Foundation, Denver, CO This two-year partnership with the Denver Public Schools Foundation helped fund the introduction of a new elementary-school level, hands-on science curriculum called SCIENCE TRACKS. The intent of the curriculum is to help students learn by actually doing science, rather than simply reading from a textbook. This is part of the district s strategic plan to engage students in science at a young age, give them the skills to master science concepts, and help build a pipeline of future scientists and engineers. 1 and 2. Students participating in Admission Possible 3. Hands-on science through the Denver Public Schools Foundation 1 Photo by Laura Golubeva. 2 3

10 Giving Highlights: Piper Jaffray continues to align resources to encourage and support the growing interests of our clients, employees, shareholders and the broader community. Therefore, 2008 was a year of engagement in sustainabilitydriven practices as a firm. Environmental Impact The Green Institute, Minneapolis/St. Paul, MN This organization is a nationally recognized leader among community development organizations for its strong commitment to promoting sustainability and urban environmental quality. Firmly rooted in serving the needs of Minneapolis Phillips neighborhood, the Green Institute received a grant from Piper Jaffray to support expansion of its innovative ReUse Center and DeConstruction Services which salvages reusable building materials and resells them to the public at an affordable rate. The services create living wage jobs; connect more than 60,000 homeowners with quality, inexpensive building materials for home improvement; and protect the environment and ground water systems by salvaging thousands of tons of reusable building materials from landfills every year. California Clean Tech Open ACTERRA, Palo Alto, CA Piper Jaffray provided support to this organization of leading entrepreneurs, academics, investors and companies, working together to accelerate the development of clean technology startups. The Clean Tech Open provides resources, education and support for clean tech entrepreneurs. Activities include the Annual Business Competition, mentoring, sustainability workshops, a series of public symposia and a resource directory. Focus areas for the organization include transportation, water efficiency, smart power and storage, renewables, greenbuilding, and air-water-waste.

11 EMPLOYEE PROGRAMS bestprep ementors Program For two years running, Piper Jaffray employees in Minneapolis have participated as mentors for students in the ementors program. The program connects high school students with volunteer professionals. Students develop professional writing skills and learn about the relationship between classroom learning and future career skills. Run by BestPrep, ementors connects more than 1,400 students and mentors annually. The program encourages mentors to respond to students s weekly to discuss specific ementors curriculum topics such as sharing college and career experiences, and how math is used in everyday life. In the spring of 2008, 27 Piper Jaffray volunteers were paired with students in an economics class at Robbinsdale This was a new, exciting and high-impact volunteer Armstrong High School. During opportunity that allowed us to provide students the fall of 2008, 37 Piper Jaffray volunteers were involved with the with real-life examples of our current program, matched with students from economic and business environment. a Principles of Math class at Richfield Deb Schoneman, CFO and coordinator of High School. the firm s involvement in the program 2008 Employee Giving Campaign Expands Giving Options The Piper Jaffray fall employee giving campaign was the firm s first truly global effort to support both social services and the environment, largely through the United Way and EarthShare. In addition to U.S. employees, those in the United Kingdom and China had options for giving. United Way is a national network of nearly 1,300 local organizations that work to advance the common good by focusing on human services. EarthShare is a network of more than 500 local, state, national and international environment and conservation organizations. Piper Jaffray employees demonstrated remarkable generosity in supporting nonprofit agencies (through the 2008 employee giving campaign) given the difficult market environment. Their contributions will make a meaningful difference in our communities. Andrew Duff, Chairman and CEO

12 2008 Nonprofit Partners 2008 Piper Jaffray grant recipients In its annual grant round completed in June of 2008, Piper Jaffray Companies and the Piper Jaffray Foundation awarded gifts and grants to more than 35 nonprofit organizations across the country, including the following: A Better Chance Admission Possible American Heart Association American Red Cross Arizona Council on Economic Education BestPrep Catholic Charities Children s Brain Tumor Foundation Children s Hospitals and Clinics Foundation Clean Tech Open ACTERRA CommonBond Communities Denver Public Schools Foundation Goodwill-Easter Seals Minnesota The Green Institute Huckleberry Youth Services Jed Foundation LEAD Local Initiatives Support Corporation (LISC) Metropolitan Consortium of Community Developers Metropolitan Economic Development Association (MEDA) MIKVA Challenge Foundation Minnesota Council on Economic Education Minneapolis Heart Institute Foundation Minnesota Institute for Talented Youth Neighborhood Development Center Oregon Entrepreneurs Network REACH Community Development, Inc. St. David s Center Technology Access Fund University of Minnesota Carlson School University of Minnesota Medical Foundation Volunteers of America Will Steger Foundation Women s Foundation Women s Initiative for Self Employment WomenVenture 2008 Piper Jaffray sponsorship partners Every year, Piper Jaffray sponsors select charitable causes and events, including arts and cultural institutions. These win-win relationships enhance the quality of life in our communities and include: Children s Theatre Company, Minneapolis Children s Museum, Seattle The Frick Collection and Reference Library, New York MacPhail Center for Music, Minneapolis Minnesota Aquatennial Minnesota Orchestra Minnesota Zoo MOSAIC City of Minneapolis Oregon Zoo Foundation Pen Pals (Hennepin County Library Foundation) Saint Paul Chamber Orchestra Twin Cities Marathon, Inc Weisman Art Museum, Minneapolis

13 About Piper Jaffray Piper Jaffray Companies (NYSE: PJC) is a leading, international middle market investment bank and institutional securities firm. Securities brokerage and investment banking services are offered in the United States through Piper Jaffray & Co., member SIPC and FINRA; in Europe through Piper Jaffray Ltd, authorised and regulated by the Financial Services Authority; and in Hong Kong through Piper Jaffray Asia Limited, Piper Jaffray Asia Securities Limited, and Piper Jaffray Asia Futures Limited, all of which are registered with the Hong Kong Securities and Futures Commission. Asset management products and services are offered through three separate investment advisory affiliates registered with the U.S. Securities and Exchange Commission: Fiduciary Asset Management, LLC; Piper Jaffray Investment Management LLC; and Piper Jaffray Private Capital, LLC. Since Member SIPC and FINRA Piper Jaffray Companies. 800 Nicollet Mall, Minneapolis, Minnesota /09 CC-09 piperjaffray.com