DALLAS – ReserveAid, a non-profit organization dedicated to providing financial assistance to military families of reservists on active duty, raised a record of $750,000 at the fourth annual Stars & Stripes Dinner, held on March 4th, 2011 at Frontiers of Flight museum in Dallas, Texas. This was in large part due to the continued support of anchor sponsors Highland Capital Management, L.P. and NexBank. And with over 1,800 families benefiting from ReserveAid’s generosity to date, the funds raised from the 2011 dinner will benefit additional military families in need of assistance.
“NexBank is honored to be a part of ReserveAid’s efforts to bring comfort and financial assistance to the families of the brave men and women who risk their lives defending our freedom,” said Mike Rossi, executive vice president and chief financial officer at NexBank. “The success of this year’s event is a reflection of the increased support ReserveAid is receiving throughout this community, and we’re proud to be a part of it.”
“The men and women of the United States Armed Forces Reserves sacrifice greatly to protect our nation,” said James Dondero, co-founder and president of Highland Capital Management. “Highland and its employees are proud to help ReserveAid support the families of these reservists.”
ReserveAid provides financial support to assist servicemen and women when answering the call to duty negatively impacts their financial well-being. Recipients include reservists who are activated and then receive military pay that is a fraction of their civilian pay, families who encounter a problem with their military pay starting (amount is wrong, first payment gets delayed, etc.) and veterans who have been injured and are navigating the VA benefits process. Many of ReserveAid’s grants address basic needs, such as food, clothing, shelter and transportation, making them vitally important to the troops.
Additional sponsors included long-time supporter 7-Eleven at the $25K and above level; and at the $10K and above level: American Airlines, American HomePatient, CCS Medical, Citi, Cornerstone Healthcare Group, Deutsche Bank, Goldman Sachs, Knight Capital Group, L-3 Communications, Lackey Hershman, LLP, Nex-Tech Aerospace, Inc., Safety-Kleen and Trussway; and at the $5K and above level: Bank of America Merrill Lynch, Barclays Capital, Tiffany & Patrick Boyce, Cantor Fitzgerald, Caris & Company, Cole Schotz, Kimberly and Joe Colonnetta, Concentra, ConvergEx, CreditSuisse, Epocal, Humana, Investment Technology Group, Inc., Mr. and Mrs. Charles L. Jarvie, Jefferies, Lockheed-Martin, MKM Partners, Morgan Keegan, Todd Boeding & Operation Impact, Rosewood Hotels & Resorts, Scotia Capital, Sterne Agee and Wells Fargo Securities.
At the event, the keynote speaker, Commander Kirk S. Lippold, a retired member of the United States Navy, spoke about his experience as the Commanding Officer of the USS Cole when the ship was attacked by Al-Qaeda terrorists. The featured comedian for the evening was PJ Walsh, a veteran of the U.S. Navy who has performed at Armed Forces facilities in Japan, Korea and the Balkans, as well as with the “Comics on Duty” tour throughout Iraq and Afghanistan.
ReserveAid has helped make sure the quality of life of military reservists and their families does not suffer as a result of their commitment to the United States, and this event and the funds raised will help continue to accomplish this mission.
ReserveAid is a 501(c)(3) nonprofit organization committed to providing financial support to the families of Reserve Service Members from all services, who have been called to active duty and are experiencing financial difficulty. Our goal is to alleviate the emotional and financial burdens placed on the men and women called to serve our country by supporting their families at home.
About Highland Capital Management, L.P.:
Highland Capital Management, L.P. is a SEC-registered investment adviser with approximately $22 billion of assets under management. It is one of the largest and most experienced global alternative fixed income managers, specializing in bank loans, high yield credit, distressed debt, structured products, real assets, and long-short equities.
Highland’s diversified client base includes public pension plans, foundations and endowments, corporations, financial institutions, fund of funds, governments, high net worth individuals, and mutual fund investors. To best meet the different goals of these investors, Highland offers a variety of product types, including credit funds, private equity-style funds, managed separate accounts, hedge funds, retail mutual funds, and collateralized loan obligations (CLOs).
Highland Capital Management is headquartered in Dallas, Texas and maintains offices in New York, London and Singapore.
NexBank, SSB, is headquartered in Dallas in the NexBank Building, Galleria II Tower. Originally founded in 1922, the bank was purchased in 2004 by a group of Dallas-based investors who have refocused the bank to become a sophisticated and capable force in commercial real estate and business lending, and a leader in deposit and savings rates. For more information, visit www.nexbank.com.