Private Credit Lender Colbeck Capital Gave Back in 2022 — and How You Can, Too
Philanthropic giving has become even more critical in recent years, with the nonprofit sector relying on donations, as well as volunteerism and advocacy, to operate effectively and fulfill their missions. There are over 1.8 million nonprofits in the United States alone, and despite the impact of the COVID-19 pandemic, average gift amounts continued to rise as people pulled together to support one another and keep vital programs functional during desperate times.
Among those who continued to place emphasis on corporate giving and sponsorship for organizations pivotal to the community at large was Colbeck Capital Management, under the leadership of Jason Colodne and Jason Beckman, which made philanthropy a key focus of its 2022 mission. Here are just a few of the organizations that Colbeck provided support for throughout the year and the ways that those funds have gone on to aid communities and organizations in need.
One area of Colbeck’s charitable focus was the arts and supporting the makers behind crafting and creating. Donations to the New York Academy of Art pave the way for essential scholarship opportunities for prospective and current students looking to further their education. New York Academy of Art remains committed to supporting diversity and equal treatment of all students and creators while placing an emphasis on figurative and representational art. Funds help students receive necessary skills by supporting tuition efforts for those who cannot afford higher education on their own.
Nest is another nonprofit rooted in the arts, but with a different approach to supporting creators. Nest encourages makers and artisans to contribute their skills while supporting their equitable growth and production. Craft is the second largest employer of women worldwide, contributing to the imbalance of treatment for crafters. Nest was designed to combat inequities by sourcing and supporting sustainable and fair trade and treatment of crafters. Individuals are encouraged to support Nest by shopping from their product suite while corporate sponsors can become active partners in everything from consumer engagement to consultancy.
Children’s Health and Education
Children’s charities have remained a priority for Colbeck Capital and Jason Colodne. Core to Colbeck’s charitable giving for 2022 was its work with Children’s Hospital of Philadelphia (CHOP). That’s where the lender offered a helping hand to CHOP’s Harriet and Ronald Lassin Newborn/Infant Intensive Care Unit (N/IICU). The N/IICU takes care of some of the hospital’s most vulnerable patients under its newborn and infant chronic lung disease program. Donor support is vital for the little ones: CHOP is one of the few places worldwide that provides specialized care for bronchopulmonary dysplasia, which is more common in premature babies. Supporters can make a monetary gift at any time with funds being directed back to patient care and development of novel treatments.
Cents Ability, which is dedicated to promoting financial literacy for children and youths, also benefitted from Colbeck’s support. Proceeds from donations back powerful programs designed to teach students how to achieve responsible financial management. Individuals and companies can make tax-deductible donations that help provide virtual programs in both New York City and Chicago. These workshops and classes are held at no cost for participants and fill critical gaps in education that can assist students in underserved communities define and commit to financial goals that can help them lead productive lifestyles.
Complementing this work outside the classroom was Colbeck’s sponsorship of Futures and Options’ Dream Big event. The nonprofit provides youth programs that help them develop professional skills and pursue higher education in disenfranchised communities. Based in New York City, the organization makes career essentials more widely available to enable students to succeed beyond the classroom and into their professional lives. While New York City employers can get involved by offering career opportunities to program participants, individuals can make donations that help sponsor these student activities.
Colbeck also threw its support behind the Children’s Tumor Foundation, which benefited from several sponsorships throughout the year as the nonprofit continues to fight to find a cure for neurofibromatosis. Over 84% of the funds that CTF receives through fundraising efforts are funneled directly back into the organization to support education, patients, research, and medical initiatives. Those looking to get involved can choose from a number of volunteer opportunities as well as fundraising events and ad-hoc donations.
The Children’s Cardiomyopathy Foundation ‘s Night for a Cure Virtual Charity Poker Tournament. Also held in 2022, and supported by Colbeck and Jason Colodne, was the Golf for a Cure fundraiser. Funds from the events directly benefited children suffering from cardiomyopathy — which affects one in every 100,000 in the United States and is the leading cause of heart transplants and cardiac arrest in children — and their families. The Foundation is always open to receiving support from the public ranging from volunteerism, donations, and advocacy with local legislative bodies.
Health Care and Research
Colbeck also chose to support a number of other health care nonprofits throughout the year as a testament to its dedication to supporting communities in need. One such organization is the Anaplastic Thyroid Cancer Moonshot Project at MD Anderson Cancer Center. The program is designed to improve health care outcomes for those afflicted by this cancer by bringing together innovation and collaboration at scale across the globe. This aggressive and rare cancer requires immediate intervention for patients to have a fighting chance at survival, and donations to the Moonshot Project help expedite research and prevention programs. Donors can choose which program they would like their funds to help fuel research and development for during the submission process.
Rare cancers of all kinds require ample funding and research programs in order to accelerate progress when it comes to treatment modalities and finding viable cures. Supporting Cycle for Survival in partnership with Memorial Sloan Kettering and Equinox, Colbeck was able to give back to a community in need. Donations are 100% funneled back into research and clinical trials at MSK, helping to fund programs such as next-generation tumor sequencing and research for metastatic melanoma, which has improved life expectancies for those stricken. Interested individuals can participate in a number of signature events held in the spring or create their own fundraisers in honor of a loved one.
The Michael J. Fox Foundation for Parkinson’s Research also benefited from support from Colbeck. The foundation’s mission is to end the disease and improve outcomes for those afflicted. It aggressively funds research and projects that can help improve the quality of life for those who have Parkinson’s, while pushing researchers to work together to find a cure. Recent funding has helped with the expansion of a $450 million landmark study in the Parkinson’s Progression Markers Initiative. The Foundation offers a number of ways for companies and loved ones to get involved, ranging from donations, legacy gifts, employee giving, and promoting fundraisers.
Youth Athletics and Communities
New Heights Youth, based in New York City, is a nonprofit dedicated to leveraging the unique tie between athletic and academic performance to help propel youth forward. Focusing on underserved youth in communities with limited resources, New Heights Youth provides basketball programming designed to engage both men and women with the sport while encouraging them to excel academically. The nonprofit relies heavily on fundraising efforts to drive its programs forward, and donors can make one-time gifts or sponsor a team directly to show their support for student athletes. This included the GameChangers Ball, held in Brooklyn, with the sixth annual event taking place in 2022.
Colbeck also gave back in 2022 to the Johnny Mac Tennis Project, a 501(c)(3) nonprofit that promotes well-being through sports to underserved communities and children. Founded by tennis legend John McEnroe, the project features programs that focus not just on physical activity, but also on education and mental health. The project has helped over 6,000 children and benefited from donated funds that have gone toward providing scholarship awards to eligible athletes. Donation amounts indicate how far the funds will go, from providing weekly tennis lessons to sending a child to camp or providing essential equipment.
Making a Difference in Ukraine
Support for philanthropic initiatives by Colbeck in 2022 wasn’t limited to domestic efforts. The company provided financial backing for HealthRight International, which addresses challenges in communities where affordable, equitable health care is hard to come by. Funds raised by the organization are directed to programs focused on improving the quality of care and reducing the marginalization that can occur in underserved populations. Donors can choose from a variety of ways to provide funds including gifting stocks or checking for employer matches.
Colbeck also provided financial support for UNICEF, with funds extending to services for health care, water access, education, and essentials for quality of life. For 2022, these efforts became especially profound as the war in Ukraine required support for refugee and resident populations suffering from a lack of access to basic care facilities and supplies. Donations are put to direct use with only 4 percent of funds going to administrative costs, demonstrating just how far dollars donated can go to helping children in extreme circumstances.
For those who cannot survive the conditions in Ukraine due to their own unique circumstances, organizations like Project Apollo have been striving to extract and provide refugee resources on a whole new level. Colbeck supported Project Apollo, which participated in several key missions in Ukraine to deliver essential medical supplies to areas in dire need while also helping those in at-risk populations evacuate dangerous locales with relocation assistance to nearby countries. Funds provided to the organization help refugees achieve safe accommodations and can be provided in either single or monthly recurring donations.
Giving Back on a Local Level
Homelessness remains a rampant problem throughout the United States, with nearly half a million people identifying as unhoused in January 2022. These issues extend beyond the major cities and metropolitan areas to local communities where socioeconomic conditions create struggles for families and individuals to make ends meet and provide housing for themselves.
To this end, Homes with Hope strives to end homelessness for those in Westfield, Connecticut, and the surrounding county. Homes with Hope relies directly on the support and patronage of donors like Colbeck Capital Management to fulfill ongoing demand and shifting needs. Fundraisers, like the recent Stand Up event held on Oct. 15, are designed to bring the community together for a night of live comedy entertainment while drawing awareness to the growing issue of homelessness in the region. Proceeds from the event, like all funds raised by Homes with Hope, are funneled directly back into the organization to help provide housing, meals, and essential support services for displaced individuals and their families. Individuals looking to get involved can choose from monetary options as well as corporate giving and car donations.
Colbeck and Jason Colodne also supported City Harvest in their native New York City, providing funding throughout the year for various programs including Camp City Harvest and a year-end holiday food drive. Both events were designed to help bring awareness to the growing food desert in the city and raise funds and physical food donations to provide meals to those in need. Financial support options for one-time and monthly contributions indicate how many people can be fed based on funding amounts and encourage individuals to make even the smallest donations to make a difference. City Harvest operates year-round and rescues nearly 100 million pounds of food from restaurants and food services, reappropriating it to kitchens and food banks throughout the city to distribute to the hungry.
How You Can Get Involved
While Colbeck Capital Management remains dedicated to philanthropic efforts that uplift communities of all kinds the world over, it doesn’t take a large organization to get involved. Individuals, families, and even small companies can give back to their own communities, looking for ways to make a difference and help those in need. Many organizations looking for financial support can additionally benefit from volunteerism provided by individuals who may not have funds but who have time and concern to give to a cause. There’s never been a better time to get involved and give back.
Originally published at https://www.laprogressive.com on February 11, 2023.