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COMMERCE COMMENTS
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This month’s
cover story features Merisant, a St. Louis-based global corporation
that manufactures and markets tabletop sweeteners with sales of
$400 million. Merisant products account for more than one-third
of the estimated $1.2 billion global tabletop sweetener market.
Over half of its sales are outside of the United States and sold
under 19 different brand names, such as Equal® and Canderel®.
Merisant purchased the business from Monsanto in March 2000. Arnold
Donald, who was president of Monsanto’s $4 billion agricultural
sector, was named chairman and CEO. He expects the company will
enjoy significant sales growth in its Asia/Pacific, Latin American
and European markets.
Donald is also making a mark on the region through his commitment
to growing plant and life sciences in St. Louis. He is raising funds
for a $200 million-plus venture-capital fund, Auxyn Biosciences,
which will help fund new biotech and life-science companies. Auxyn
will join three other St. Louis-based venture funds dedicated to
plant and life sciences.
This month’s Profile features another Monsanto alumnus, Tammy
Shields, the St. Louis regional leader at Cap Gemini Ernst & Young.
In her work, Shields has concentrated heavily on life science projects—from
crop chemicals and biotechnology to pharmaceuticals and medical
devices.
She heads Cap Gemini’s management and information technology consulting
initiatives for St. Louis, Kansas City, Denver, Des Moines and Omaha,
with responsibility for 350 associates. Shields is also involved
in numerous civic endeavors.
That brings us to philanthropy. In Kevin Kipp’s story, In Good
Company, he explores corporate philanthropy in St. Louis. Among
his findings: data from United Way campaigns around the country
demonstrate that St. Louis is disproportionately generous. While
ranking 18th in population among towns with United Way campaigns
in 2000, our area finished eighth in funds contributed and first
in corporate giving.
Building on this strong foundation, the Metropolitan Association
for Philanthropy (MAP) and other business and civic groups have
united to broaden charitable giving in the region through “Gateway
to Giving,” following a national grant from the Forum of Regional
Associations of Grantmakers. This initiative will provide the tools
and resources necessary to help new donors create formal giving
programs, establish giving circles and develop personal strategies
for giving.
Encouraging philanthropy may soon be even easier with the proposed
Charity Aid, Recovery and Empowerment Act (CARE Act), of 2002 a
bipartisan proposal under consideration in Washington, D.C. CARE
Act’s provisions would:
- Allow
IRA holders to make charitable contributions from their
accounts
- Provide
an enhanced deduction for donations of food and books
to charitable organizations
- Reduce
and simplify the excise tax on foundations from 2 percent
to 1 percent to encourage greater social investments
- Raise
the contributions cap for subchapter C corporations and
expand incentives for S corporations to increase corporate
charitable giving
- Create
a charitable tax deduction of up to $400 for individual
taxpayers and $800 for couples who do not itemize on their
tax returns
- Modify
the unrelated business income tax for charitable remainder
trusts.
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This legislation
and much more will be highlighted at the Association of Fundraising
Professionals’ 39th International Conference on Fundraising in St.
Louis, April 14-17, at America’s Center.
“Exploring the World of Philanthropy” will feature more than 4,000
fundraising professionals and 350 exhibitors converging on St. Louis
from around the country.
We trust that they will find St. Louisans as hospitable as we are
generous.
Richard C.D. Fleming
President and Chief Executive Officer
St. Louis Regional Chamber and Growth Association |
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