Hedge Funds Care Reaching Fund-Raising Goals

CHICAGO (HedgeWorld.com)--As the number of benefit dinners grows each year, so does the support and contributions for the grants offered by Hedge Funds Care.

With one more fund-raising event to go this year, Hedge Funds Care has been able to raise more than US$2 million in 2003. Last week's Open Your Heart to the Children benefit in Chicago raised more than US$490,000 to help the prevention and treatment of child abuse Previous HedgeWorld Story.

Hedge Funds Care Founder Rob Davis expects that the next fund-raiser scheduled in October in Atlanta will put the group over the US$3 million mark for the year. In turn, that would mean that Mr. Davis' organization will have raised more then US$6 million since its first benefit in 1999.

As funds are raised, grants are awarded in each community where the benefits are held. To date, 73 grants have been given out to various types of charities all related to child abuse. In each city, the group collaborates with a community organization and a research partner to help select grantees through a request-for-proposal process.

The group also is looking to help support passage of legislation. Attendees were asked to contact their representatives regarding the Child Protective Services Improvement Act, introduced to Congress on April 1. Other children's advocacy groups have supported the act, which would help improve the child welfare system's capacity to prevent and to respond to child abuse and to place children into safe, loving and permanent homes.

SBarreto@HedgeWorld.com

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