Deutsche Bank, an avid supporter of both golf and children’s programs, has combined those passions to support the American Junior Golf Association (AJGA). Deutsche Bank will establish an endowment to help fund the AJGA’s ACE Grant, the AJGA announced Tuesday.
The ACE Grant program was created by the AJGA in 2003 to ensure competitive golf opportunities are available to all young golfers regardless of their financial resources. Since the program’s inception, the AJGA has awarded 255 ACE Grants to 170 juniors totaling nearly $937,000.
“We are proud to partner with the AJGA to support the ACE Grant program, which will benefit many worthy kids in New England and around the country,” said Seth Waugh, CEO of Deutsche Bank Americas. “We have a history of helping children through golf, with more than $10 million generated for children’s charities through the Deutsche Bank Championship, so we are excited about what we can achieve now that we have joined forces with the AJGA.”
Separate from fully endowing an ACE Grant, Deutsche Bank’s Private Wealth Management division has reached an agreement to manage the assets of all non-competing AJGA endowments.
ACE Grant recipients and Boston-area junior golfers will also participate in the Deutsche Bank Championship's Founders Cup, a junior-am event for the leading sponsors of the Championship, set to take place July 14, 2008, at TPC Boston.
“Deutsche Bank is an ideal partner to have involved with the ACE Grant,” said Jason Etzen, AJGA Executive Vice President of Corporate Partnerships. “They have demonstrated their passion for golf through their PGA TOUR involvement, and we are thrilled to have their support at the junior level as they provide opportunities for more young people to experience AJGA tournaments.”
In 2007, the AJGA offered financial assistance to 77 juniors through the ACE Grant, helping them to compete in 240 tournaments and 87 qualifiers. The total amount granted was $288,780.
About Deutsche Bank
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 78,275 employees in 76 countries, Deutsche Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.
The Deutsche Bank Americas Foundation administers the philanthropic activities of Deutsche Bank within the United States, Latin America and Canada. Together, the Bank's Community Development Group and Foundation carry out the firm's corporate citizenship commitments through a program of loans, investments and grants. Based in New York City, the Foundation supports nonprofit organizations that concentrate on community development, education, and the arts.