Endowment Changes Management

November 12, 2004 - 13:02

In an effort to strengthen and enhance management and reduce costs, the American Floral Endowment has changed management structures. Effective Oct. 22, 2004, Hortica Insurance was retained to manage all administrative functions of the organization, and former executive vice president Steven Martinez is no longer with the Endowment.

According to a press release from the Endowment, the contractual agreement with Hortica will streamline expenses and add depth to the Endowment’s management and financial controls. The combined effect of these decisions, continued the release, will allow dedication of more funds to support the Endowment’s mission of funding research and education in the critical areas of floricultural marketing and research.

“There are really no changes to any of the programs,” said board member Jim Leider. “All of the decisions and policies are still under the board of trustees, and all programs will continue.”

The Endowment, which had been located in a building it owned in Glen Carbon, Ill., has been relocated to Hortica’s Edwardsville, Ill., office, and the former building has been put up for sale, proceeds from which will be added to the corpus of the Endowment.

Administrative Assistant Amy Ligibel has become an employee of Hortica and is dedicated solely to the Endowment’s affairs; Gus De Hertogh will continue as the research coordinator to the board of research projects and education; and Endowment phone numbers and Web sites will remain the same.

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