Bain Capital Donates $150,000 to Cradles to Crayons to Help Families Affected by COVID-19 Pandemic
September 24, 2020, BOSTON, MA—Cradles to Crayons® today announced that Bain Capital has donated $150,000 to provide immediate relief, including diapers, school and art supplies, clothing, hygiene items, and other essentials, to families who have been severely impacted by the current global health crisis. A longtime philanthropic partner, Bain Capital donated to the Emergency Essentials Fund created by Cradles to Crayons to assist families in Massachusetts who cannot afford to purchase critical items in this challenging time.
Since the start of the pandemic, Cradles to Crayons has seen an increase in urgent requests for essential items from across the state as many parents are forced to decide between buying groceries, medicine, and other critical items. Food pantries, homeless shelters, and other partnering agencies are turning to Cradles to Crayons to provide necessities such as diapers, hygiene products, clothing, art supplies, and school supplies to the thousands of local families in need. Financial support to the Emergency Essentials Fund, including from Bain Capital, allows the organization to purchase the necessities requested, and in turn, provide immediate relief to the families.
“COVID-19 and the ensuing economic stability has had the greatest impact on low-income communities and vulnerable families continue to struggle,” said Carolyn Hastings, a Bain Capital Credit Managing Director and a member of the Cradles to Crayons Boston Board of Directors. “Through the Emergency Essentials Fund, Cradles to Crayons is able to leverage their logistics expertise and bulk purchasing power to serve thousands of families in need both now and in the coming months, and we are proud to support this effort as part of our community partnership initiatives.”
“Bain Capital’s donation will make an enormous impact on families struggling during this crisis and need our assistance,” said Aubrey Conquergood, Executive Director of Cradles to Crayons Boston. “We cannot express our appreciation for their contribution to this initiative as well as their continued support throughout our 13-year partnership.”
About Bain Capital
Bain Capital, LP is one of the world’s leading private multi-asset alternative investment firms that creates lasting impact for our investors, teams, businesses, and the communities in which we live. Since our founding in 1984, we’ve applied our insight and experience to organically expand into numerous asset classes including private equity, credit, public equity, venture capital, real estate and other strategic areas of focus. The firm has offices on four continents, more than 1,200 employees and approximately $100 billion in assets under management. To learn more, visit www.baincapital.com or follow Bain Capital on Twitter.
About Cradles to Crayons
Cradles to Crayons launched in Boston in 2002 and currently has operations in Boston, Philadelphia, and Chicago. The nonprofit provides children from birth through age 12 living in homeless or low-income situations with the essential items they need to thrive—at home, at school, and at play. They supply these items free of charge by engaging and connecting communities. Cradles to Crayons collects new and high-quality used children’s goods and engages thousands of youth and adults in volunteer activities each year on behalf of local children in need. For more information, visit https://www.cradlestocrayons.org/.