Agreement Reached - Seated from left are GVTC SR. VP Geoff Blyth, AAAA Secretary Donna Ryan, AAAA Treasurer Kathy Snyder, and, standing from left GVTC Bob Carville, AAAA President Lee A. Ryan, GVTC Client Relationship Manager Jim Guido, AAAA Investment Committee Member Bill Pulos. AAAA Investment Committee members missing from photo: Bob Baker, Don Jefferds, Butch and Cass Lorow.
THE ALFRED SUN, Thursday, October 13, 2011
HORNELL--On Monday, Sept. 26, representatives of the Alfred-Almond Alumni Association (AAAA) met with bankers from the Genesee Valley Trust Company (GVTC) of Pittsford. The meeting was hosted in Hornell, New York by the law office and staff of Bill Pulos, A-A Class of 1973.
The purpose of the meeting was to confirm the new relationship entered between theAAAA and GVTC as the new money managers for the AAAlumni Association.
Since 2000, the AAAA has been actively raising money for its Association scholarship and award programs. Spearheaded by Lee and Donna Ryan of Almond, the AAAA has raised hundreds of thousands of dollars in the last eleven years, most of which has gone directly to worthy Alfred -Almond graduates. In 1999, the Alumni Association gave away a $250.00 award to two Alfred-Almond graduating seniors. Twelve years later, in 2011, the Alumni Association proudly distributed $ 44,000.00 in scholarships and summer
camp awards to Alfred Almond students.
During this time, the investment committee of the AAAA has been investigating ways of making the monies they raise, year over year, work harder for the AAAA, thereby creating an additional way to raise funds and bring more professionalism to the process.
Genesee Valley Trust Company (http://www.geneseevalleytrust.coml) is a chartered bank whose mission is to manage money for families, individuals, organizations, not-for-profits and trusts to maximize return, over generations. Organized in 1994;' GVTC is a
wholly owned subsidiaryt of Canandaigua National Bank (https://www.cnbank.com/), whose holdings are valued at $1,700,000,000.00. GVTC currently has almost five hundred million dollars ($500,000,000.00) under their management alone. Although GVTC manages millions of dollars, they carefully select their clients to retain the ability to personally serve each account
and have a personal relationship with the individuals with whom they work.
Recently, the bankers from GVTC conducted a series of investigative meetings with AAAA officials, in a sense vetting the AAAA, culminating with the meeting held at the Pulos and Rosell law office in Hornell. During those meetings, the prospects of money growth, management and accounting for the AAAA funds were discussed and reviewed.
"The AAAA has always envisioned the opportunity and time when our resources could justify a third-party money manager. It
just so happens that GVTC was in the perfect place to help the AAAA investment committee move to the next level in terms
of fundraising, earnings and accountings for scholarships. The bankers at GVTC are down-toearth professionals that bring expert
credentials and bearing to our local investment team that we really appreciate. There is tremendous potential for the AAAA going forward" said Lee A. Ryan, President of the AAAA.
Ryan went on to explain that the board members feel that it is extremely important to us that everyone knows and understands
that the AAAA has retained what they consider to be top-notch money management to maximize the value and importance
of their charitable program and growing scholarship activities.
They want all the donors to trust the management of their funds and realize that GVTC will help the AAAA really put their funds to work with capital preservation and avoidance of downside risk as our number # 1 goals.
"They will also help us with the meticulous task of accounting for earnings on dedicated memorial sub-accounts set up by individual donors like Bill Pulos ('73), Glen Feltham ('84) and Scott Yelle (' 86)," added Kathy Curran Snyder, Treasurer of the AAAA.
"This is a class organization, and we respect their long-reach and processes and look forward to a long relationship with GVTC," said Bob Baker of the AAAA investment committee.
"Our AAAA board voted in August to bring GVTC on board with our alumni association. We believe this is another 'first' for
Alfred-Almond alumni, our school and our surrounding area rtners with Genesee Valley We take this very seriously and we're extremely pleased with our new relationship," said Donna Ryan, secretary of the AAAA.
On September 26th, a series of agreements were signed between the two organizations that authorize GVTC to serve as money manager for the AAAA, thereby allowing the AAAA treasury world-class access to the best minds in the business world-wide.
Bob Carville, GVTC's Vice President for Business Development was speaking for all when he said, "We appreciate your trust in GVT. Our mission at GVT is to provide families and community organizations with investment services designed to accumulate, preserve and distribute wealth over multiple generations. So I think this is a great opportunity to help you grow the objectives and the good deeds of AAAA. Thanks again for having us down yesterday and for the trust you are placing in our entire firm."
Geoffrey Blyth, GVTC's Senior Vice-President and Investment Officer was effusive in his praise for the conservative approach
taken by the AAAA: "Thanks, folks, for welcoming us with open arms. We are thrilled to have the opportunity to help you continue the mission of the AAAA. We also take seriously the trust you place in us.GVT will be an honest partner who works hard to allow you to continue to provide scholarship support to Alfred-Almond students. You are all good people. And, we like to work with good people. This should be a beneficial relationship."
The Alfred-Almond Alumni Association was first organized in 1960 and has held annual banquets since that time. Chartered by the IRS as a 501(c) (3) organization, the AAAA has provided more than $225,000 in scholarship and summer camp funds to more than two hundred AACS students over the years.
The AA AA investment committee agreed, with all this as background, that AAAA members and the community at large can rest assured that the AAAA is making every effort to insure the viability and continuity of the AAAA scholarship programs, well into the future.
With this undertaking, the AAAA plans to move forward and attract more charitable donations knowing that all donors have the extra added assurance that their money will be put to its best possible use, by working, learning and giving with the AAAA.