Nothing says "we believe in what you do" more than lifelong financial support, and that's just what almost a dozen Northern California wineries and associates have already done with the SSU Wine Business Program.
They have established endowments to support the program, which is similar to putting money in a savings account and living off the interest.
One such vintner is Gary Heck, chairman and CEO of Korbel Champagne Cellars. "This endowment will create a legacy within the community," Heck says. "To know that the Wine Business Program at SSU will continue for many years can only enhance and strengthen the wine industry as a whole."
As the wine industry continues to grow, the demand for business expertise specifically tailored to its unique nature and challenges has increased. Many vintners and industry representatives believe in order to sustain the wine industry's success in an increasingly competitive marketplace, there must be educational programs that help conquer the challenges of the new century.
That's exactly what the Sonoma State University Wine Business Program provides through a bachelor's program in business administration with a concentration in wine strategies and professional development courses for those already working in the industry.
"It is an honor to help build this legacy for the future. As the industry becomes more corporate and global, we now have a top notch resource to train future generations of employees," says Kim Stare Wallace, vice president/director of marketing for Dry Creek Vineyard.
To date, institutions of higher education serving the industry (University of California at Davis, Fresno State University, Santa Rosa Junior College, and Napa Valley Junior College) have focused almost exclusively on the technical aspects of growing and making wine.
The industry called upon the Sonoma State University School of Business and Economics to begin a business program that would provide a mix of both theoretical and practical learning. Wine industry professionals have been a part of the program's foundation by providing oversight, serving as classroom speakers, mentors, advisors, fundraisers and providers of curriculum resources.
The importance of a business program such as this is recognized not only by wineries themselves, but by those in related fields, such as the Pacific Coast Farm Credit Services.
"Pacific Coast Farm Credit has a long-standing tradition of supporting the wine and grape growing businesses throughout California. Our commitment to initiate an endowment for the SSU Wine Business Program underscores our belief that education is vital to developing a stronger future for the industry," says Terry Lindley, vice president, marketing, Pacific Coast Farm Credit.
Once an endowment is established, the Board of Directors of the SSU Academic Foundation is responsible for investing the assets and income is distributed annually to benefit the program.
More than 130 donors from the wine and allied industries have provided $877,000 in support of the program. Of that amount, a total of $574,000 has been designated toward the $1,000,000 endowment goal while the remainder is devoted to operating funds.
For information about endowment opportunities, call Robin Draper, (707) 573-1013 or robin.draper@sonoma.edu. For information about the Wine Business Program or its classes, contact Becky Montrose, (707) 664-2260 or becky.montrose@sonoma.edu.
FACTS
The current list of Wine Business Program endowments include:
ABD Insurance (coordination) ($15,000)
Beringer Blass Wine Estates ($90,000)
Buena Vista Carneros ($7,500)
Dry Creek Vineyard ($18,000)
Gloria Ferrer/Frexinet ($6,000)
Korbel Champagne Cellars ($120,000)
Pacific Coast Farm Credit ($12,500)
Quivira Vineyards ($8,000)
Trione Family ($65,000)
Robert and Donna Young ($20,000)
Vino Farms ($20,000)
Wine Program Director's Endowment Fund Coordinated by
ABD Insurance Services ($15,000)
