In conjunction with the Hutton Parker Foundation, Antioch University Santa Barbara hosted an evening reception and book signing on Jan. 15 for real estate investor Tom Parker’s new book, The $100 Million Secret: Why and How Foundations Should Invest in Community Instead of Wall Street.
An enthusiastic audience of AUSB students and community members attended this event, held at AUSB’s downtown campus.
Parker, CEO of the Santa Barbara-based Hutton Parker Foundation, has made more than $100 million for his foundation through his investments in the community. Co-authored with Michael Bowker and published by Kele Books, the book details the Hutton Parker Foundation’s successful investment strategy that doubled its assets over 14 years, while supporting dozens of non-profit organizations in the Central Coast region.
In his talk, Parker made a solid case for socially responsible business practices and encouraged students, foundations, and corporations to apply his proven financial strategies that are not only profitable but also community-minded and sustainable. He pointed out that most charitable foundations are still depending on traditional Wall Street investments with dubious returns, while endowments that invest directly in community non-profits through foundation-owned commercial properties can increase their cash flow, as opposed to focusing on liquid assets.
A lively question-and-answer forum followed, with several prominent members of local non-profit organizations and charitable foundations participating in the dialogue. Parker made signed copies of his books for available without charge because he wants to spread the word quickly about how charitable foundations can to do more good with less risk to their endowments.
The concepts and community-focused investment strategies presented in Parker’s book strongly reflect the values of AUSB’s new Master’s of Business Administration (MBA) program, which embraces social responsibility and community stewardship.
Launching in September, the MBA program — designed with a focus on Social Business, Non-Profit Management, and Strategic Leadership — will teach students a values-based approach to leadership and methods to develop innovative solutions that meet the challenges of the future. All students at AUSB are encouraged to invest in their community and explore creative solutions to support the common good.
Click here for a comprehensive look at the MBA Program, or to register for an upcoming Information Session.
— Ann Pieramici is a publicist representing Antioch University Santa Barbara.