Jefferies Randall & Dewey Commits to Match CPRIT Grants
By providing matching funds for grants to MD Anderson through a state initiative approved by Texas voters in a 2007 constitutional amendment, the annual Jefferies Randall & Dewey A&D Summit is helping MD Anderson in its mission to eliminate cancer.
This year’s 13th annual oil and gas industry conference in April at the Houstonian Hotel, Club & Spa, along with the ninth annual Charity Golf Invitational at Redstone Golf Club in conjunction with the A&D Summit, raised more than $272,000 for MD Anderson. Each year Jefferies Randall & Dewey, the energy investment banking group at Jefferies, underwrites the events and gives all proceeds from admission fees and other donations to MD Anderson. More than 330 registered for this year’s summit.
Jack P. Randall, Jefferies Randall & Dewey co-founder and an MD Anderson Board of Visitors member, initiated the unique fundraiser in 1997. From now on, he says, proceeds will be used as matching funds for grants awarded by the Cancer Prevention and Research Institute of Texas. Funded through earnings generated by $3 billion in general obligation bonds, CPRIT will provide up to $300 million in competitive grants for cancer research and prevention programs annually. CPRIT grants are contingent upon matching funds, which may come from philanthropy, federal grants and other sources.
“Contributions raised by this and future A&D Summits will help provide the matching dollars needed to make CPRIT grants a reality for MD Anderson,” says Randall. “CPRIT requires recipient institutions to match 50 cents for every dollar it grants. That means a $500 gift could thus have a $1,500 impact,” he says. “Through the years we’ve been very proud to support MD Anderson, which has continually leveraged these contributions to maximum benefit, growing their impact well beyond face value as start-up money for innovative research projects and ultimately boosting the institution’s ability to secure millions in federal and state funding.”
Eugenie N. Kleinerman, M.D., head of the Children’s Cancer Hospital at MD Anderson, accepted the contribution on the institution’s behalf. Since its inception, the A&D Summit has raised more than $4 million for research and patient care initiatives at MD Anderson.
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