Funds raised will be donated to children's charities selected by Valero employees in locations where ValeroNorth America's [image-nocss] largest refiner and marketerdoes business. This year, the $8 million for charity was raised despite a severe economic downturn and the short turnaround time between last fall's 2008 Valero Texas Open and this year's tournament, held in the spring for the first time inmore than40 years.
The total is again likely to propel the Valero Texas Open to the No. 1 spot in charitable fundraising among tournaments on the PGA Tour.
"We're very grateful to our sponsors and business partners for their generosity in helping us raise these funds for children's charities," said Rich Marcogliese, executive vice president and COO, who is heading up Valero's efforts in this year's tournament. "This is a great tournament, and the funds raised will help us make a difference in the lives of thousands of children."
Golf San Antonio (GSA), which organizes the Valero Texas Open, raises charitable dollars through its pro-am golf tournaments, the Birdies for Charity program in which nonprofit organizations solicit pledges for every birdie made during tournament week and the Chip In for Schools program, which allows schools to sell discounted tournament tickets and keep all the proceeds.
"In the eight years that it has been the title sponsor of this tournament, Valero has become very well-known on the PGA TOUR for its charitable fundraising," said GSA chairman Joe Linson. "Valero's partnership with the tournament keeps getting stronger, and we look forward to another great event this year with the spring date."
This year's tournament, which runs Thursday, May 14 through Sunday, May 17 at the Westin La Cantera Resort, provides its players a chance to earn FedEx-Cup points.
Valero, San Antonio, had 2008 revenues of $119 billion. The company owns and operates 16 refineries throughout the United States, Canada and the Caribbean with a combined throughput capacity of approximately 3 million barrels per day, making it the largest refiner in North America. Valero also owns and operates seven ethanol plants in the Midwest with a combined capacity of 780 million gallons per year, and is one of the nation's largest retail operators with approximately 5,800 retail and branded wholesale outlets in the United States, Canada and the Caribbean under brand names including Valero, Diamond Shamrock, Shamrock, Ultramar and Beacon.
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