CHICAGO, March 3, 2020 /PRNewswire/ -- Kovitz Investment Group (Kovitz), a Chicago-based registered investment adviser, announces the launch of Kovitz Cares, a charitable foundation which seeks to raise funds to assist local charities in helping the people of nearby communities who are most in need of food, shelter, education, and more.
"As we reflect on our past accomplishments, we are grateful to our employees, clients, friends, and business partners for the important roles they have played in our shared success," said Mitch Kovitz, CEO of Kovitz. "For many years, our gratitude has generated an interest in giving back to our community. Until now, we have done this by providing volunteers to assist various charities with much needed support. Kovitz Cares creates an important fundraising element to add to our volunteer efforts, with a formality and professionalism towards our charitable interests."
Kovitz Cares will focus on two key initiatives – organizing group volunteer projects for Kovitz employees and raising funds to donate to selected charities with aligned missions. Throughout the year, the foundation will raise funds by hosting a series of events. The inaugural event, a poker tournament and casino night, will be held on May 29, 2020 at Chicago's Theatre on the Lake. Kovitz Cares aims to raise $100,000 through sponsorships and ticket sales.
Lakeview Pantry, one of Chicago's largest and longest-operating food pantries, has been selected as the primary beneficiary of Kovitz Cares' efforts in 2020. Founded in 1970, Lakeview Pantry provides food assistance and social service programs to low-income residents of Chicago's North and Westsides. Last year, Lakeview Pantry provided 1.6 million meals to almost 9,000 individuals through 48,000 site visits.
Additional charities will receive funds through grants from Kovitz Cares. For the year 2020, Kovitz Cares will proactively reach out to local charities.
Kovitz Cares is comprised of Kovitz employee volunteers. Carolyn Raden serves as President and Treasurer, Ed Edens as Vice President and Secretary, and the Board of Directors consists of Mitch Kovitz, Marc Brenner, Jon Shapiro, and Ted Rupp.
Kovitz is an independently-managed, registered investment adviser, founded in 2003. Kovitz connects high-net-worth individuals, institutions and financial professionals to sound asset management and financial advisory strategies.