Northern Trust Open raises nearly $1.5 million for charity

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LOS ANGELES -- Northern Trust Open tournament officials, including LA sports icon and Executive Director Jerry West, recently announced that the 2010 Northern Trust Open raised nearly $1.5 million for deserving non-profit organizations in the Los Angeles area.

The announcement came at the Riordan Volunteer Leadership Development Program Fundraiser and Class 38 Graduation, where West served as a guest speaker. The program is one of the main beneficiaries of the Northern Trust Open's charitable proceeds, as distributed primarily through the LA Junior Chamber of Commerce.

In addition, a study commissioned by the PGA TOUR with Beacon Economics reveals that the Northern Trust Open is responsible for an economic impact of more than $21 million on Los Angeles County. The impact includes the equivalent of 201 full-time jobs for a year created by the event, with earnings of approximately $7.4 million and local tax revenues of $350,000.

The Beacon Report presents the amount of economic activity that was generated in the local economy by the spending of non-resident event attendees (players and staff, tournament volunteers, press, event sponsors, and ticket buyers) during their stay in the region, as well as the increased spending by local residents resulting from their participation in the tournament.

The 2010 Northern Trust Open was held Feb. 1-7 at historic Riviera Country Club. The 2011 event is scheduled for Feb. 15-20, 2011.

"All of us with the Northern Trust Open are so proud of these numbers -- both the charitable dollars raised and the positive economic impact to Los Angeles -- as these funds translate to more lives being touched by the event," West said.

"My involvement with the tournament and the hard work of the staff, PGA TOUR, Northern Trust and LAJCC has raised the profile of the Northern Trust Open and made a bigger impact on the community. I love Los Angeles, and I know there are so many people in this area who need help and support. This is a great start, and our goal is to continue to grow the event and bring more assistance to our neighbors who need it most."

Los Angeles Mayor Antonio Ramón Villaraigosa, who was on hand for the Riordan program fundraiser and Class 38 Graduation, commented on the Northern Trust Open's announcement. "I commend the Northern Trust Open for such a great year-- especially given the tough economic climate. During a time when jobs are being lost and families are struggling, the Northern Trust Open is creating jobs and bringing much-needed revenue to our city through increased spending at hotels, businesses and restaurants. From a charity perspective, there is no way to convey just how crucial the $1.48 million raised is to our neighbors in need -- funding everything from leadership development for young adults to after-school programs for Los Angeles kids. Congratulations to the Northern Trust Open for putting on such an outstanding and important event in our community."

"We are proud of the positive impact the Northern Trust Open has on the Southern California community," said Northern Trust Corporation Chairman and Chief Executive Officer Frederick H. Waddell. "The bar has been raised on what we can accomplish as we continue to support and promote the philanthropic benefits of the tournament. We thank Jerry West, the PGA TOUR, the LAJCCs, the Los Angeles community and all of the charitable organizations who made the 2010 Northern Trust Open such a success."

The nearly $1.5 million raised in 2010 brings the total generated for Los Angeles charities since the event's inception to nearly $52 million. It is estimated that the Northern Trust Open helps 15,000 Los Angeles residents each year, which includes 5,000 kids who are cared for in programs like The First Tee of Los Angeles County, Agassi All-Stars of Safe Passage Tennis Program, Foster Family Picnic, Ready to Learn and the Riordan program.

Part of the charitable impact includes the first-year TICKETS Fore CHARITY program, which raised more than $135,000 for nonprofit organizations in the greater Los Angeles area. In the six months leading up to the event, organizations were given a chance to raise funds by promoting ticket sales to the tournament. Northern Trust Corporation (Nasdaq: NTRS) gave participating charities an additional incentive by offering up to $50,000 in matching donations for the organizations that raised the most funds over three scheduled check points. Thirty-two non-profit organizations participated in the inaugural TICKETS Fore CHAIRTY program and the P.S. I Love You Foundation, The First Tee of Pasadena and the American Golf Foundation won the three bonus pools.