University regents recently voted unanimously to bring the Parker Center for Family Business under the leadership of the business school.
The Parker Center was originally formed in 2005 as the nonprofit organization New Mexico Family Business Alliance. Its goal was to provide New Mexico family firms with knowledge specific to their type of business.
In 2013, Linda and James Parker pledged $125,000 to the Anderson School to move the program and change the name to the Parker Center for Family Business.
“This way, we can take advantage of the expertise of the faculty to make presentations to our constituents,” Jim Parker said.
Jim Parker is an attorney with the Modrall Sperling Law Firm specializing in estate planning and business law, among other things. Linda Parker serves on the Anderson School’s board of directors and owns a family-run financial services firm in Albuquerque.
Under its new name, the organization will be its own 501(c) 3 nonprofit and will be run by a volunteer board of directors drawn from throughout New Mexico who represent different kinds of businesses.
The Parker Center has set up a quasi-endowment with the UNM Foundation. The benefit of this endowment structure is that the board can decide how to expend the principal and the income generated by the funds to support the programs of the organization, the couple said.
The Parkers have also committed to raise an additional $125,000 toward the funding effort.
Anderson Interim Dean Craig White said family businesses plan an important part of the state’s economy, but “There is an increasing need for an understanding of topics such as succession planning, asset management and communications,” White said in a release.
The Parker Center will hold symposiums and dinners featuring nationally recognized family business experts. Continuing Education Certificate Programs will be available to members, for a fee, through the Anderson’s Executive and Professional Education Center.