Charities selected span across ACF’s four focus areas of Education, Healthcare, Social Support & Services and Arts & Cultural Programs
BOSTON and SAN FRANCISCO – Audax Private Equity (“Audax”), a leading alternative investment manager and capital partner to middle market companies, today announced that Audax Charitable Foundation (“ACF”) has committed $315,000 in grants across eight local non-profit organizations. These grants will be used to further the foundation’s mission of positively impacting the local communities where Audax Private Equity operates through the support of local grassroots, charitable programs in the greater Boston and San Francisco areas.
The giving strategy of ACF revolves around four core areas: Education, Healthcare, Social Support & Services, and Arts & Cultural Programs. Since the Fall of 2021, when Audax Private Equity formalized its giving strategy through ACF, the foundation has made over $1 million in commitments to 22 grassroots, local charities.
“The number of charities being nominated by our employees continues to grow significantly with each funding cycle,” noted Pam Martin, Senior Managing Director at Audax Private Equity. “While the larger pool of applicants makes grant selection incredibly difficult – with so many worthy candidates being nominated – we are continually inspired by the enthusiasm and engagement of Audax employees and the respective missions and dedication of the local charities being nominated.”
The following charities were selected to receive ACF’s $50,000 multi-year grant:
Creativity Explored, based in San Francisco, CA, works with people with developmental disabilities to create an artistic, studio-based collective where the creative capacity of participants can flourish.
Boston Community Pediatrics (BCP) is the first nonprofit pediatric private practice in Massachusetts, bringing income and racial equity to pediatric healthcare through comprehensive, high-quality, culturally competent care for patients, regardless of their insurance coverage or ability to pay.
Food for Free Committee, based in Cambridge, MA, improves access to healthy food through establishing innovative programming and partnerships to overcome barriers and strengthen the community food system.
Artists for Humanity provides under-resourced teens throughout the Boston area the keys to self-sufficiency through paid employment in art and design.
Breaktime United aims to break the cycle of homelessness by equipping young adults in the Boston area with the job and financial security necessary to establish housing security.
Elevate Youth, based in Boston, aims to empower youth to explore the outdoors alongside mentors, sharing the awe and the richness of our natural world.
In this most recent funding cycle, ACF also awarded modest one-time grants, starting at $7,500, for smaller charities seeking to scale their operations. Charities receiving these grants include:
InnerCity Weightlifting, based Boston, embraces a four-stage model to earn trust, build hope, bridge social capital and facilitate economic mobility for young people who have been imprisoned or affected by street violence.
Food Drive, Inc., based in Melrose, MA, is a community-driven nonprofit organization that provides grassroots, hyper-local solutions to hunger and food waste in communities north of Boston.
To be considered for a grant, organizations need to be nominated by an Audax Private Equity employee during one of ACF’s two funding cycles that occur annually. A selection committee comprising a cross-section of Audax employees determines which organizations receive grants. The committee prioritizes local charities fulfilling unmet needs and grassroots organizations whose impact can scale with ACF funding. The selection committee also prioritizes organizations that provide engagement opportunities for Audax employees.
“While the missions may differ, each of the grantees selected share a common goal of promoting well-being and a sense of belonging for those in need,” noted Young J. Lee, Partner and Co-President of Audax Private Equity. “We are grateful to have the opportunity to support the missions of these organizations and look forward to potentially engaging with the charities in the future to amplify their impact.”
“When we formally launched the Audax Charitable Foundation, in our mission statement, we articulated as our highest-order objective to support local, grassroots organizations,” added Keith Palumbo, Partner and Co-President of Audax Private Equity. “This is in part to provide support to those organizations who will most benefit from our funding. Equally important, we want to provide channels for our employees to engage directly with the charitable organizations ACF funding helps to support. We are looking forward to seeing the impact and are proud to back these important causes.”
Based in Boston and San Francisco, Audax Private Equity is a leading middle market investment firm with approximately $18 billion of assets under management, over 210 employees, and 100-plus investment professionals. Since its founding in 1999, the firm has invested in more than 165 platforms and 1,200 add-on acquisitions. Through our disciplined Buy & Build approach, across six core industry verticals, Audax helps portfolio companies execute on organic and inorganic growth initiatives that fuel revenue expansion, optimize operations, and significantly increase equity value. For more information, visit audaxprivateequity.com or follow us on LinkedIn.