SOURCE OF WEALTH: Akre Capital Management
FUNDING AREAS: Human Services, Environment/Animals, Global
OVERVIEW: Chuck Akre and family conduct their philanthropy through the Fagus Foundation. The family supports human services, the environment, and other select causes through their charity. The Mid-Atlantic states, particularly Virginia, are important sites of giving.
According to available tax filings, the foundation made over $2 million in grants in 2017.
BACKGROUND: Chuck T. Akre graduated with a B.A. in English Literature from American University. He was associated with the NYSE firm Johnston, Lemon & Co. Akre went on to found Akre Capital Management in 1989 and relocated the business to Middleburg, Virginia, in 2002.
ISSUES:
HUMAN SERVICES: Akre and family have supported A Place to Be, a “therapeutic arts organization for children and adults with and without disabilities,” Windy Hill Foundation, which provides housing, Food Bank for New York City, and Fauquier Free Clinic.
ENVIRONMENT & ANIMALS: The foundation is a big supporter of The Nature Conservancy,which was awarded around $700,000 over four grants. Additional grantees include the Caribbean Wildlife Alliance and Piedmont Environmental Council.
GLOBAL: The Akres also earmark funds for global organizations such as Global Fund for Women, which has recieved $50,000 in cumulative grant funding from Fagus and Iniciativa Guatemala, which helps “local partners create better opportunities for vulnerable youth and families in Guatemala’s at-risk communities.”
OTHER: The Akre family has also supported Smithsonian Conservation Biology Institute and Castleton Festival, among other outfits.
LOOKING FORWARD: Expect the Akres to stick with their select interest areas.
CONTACT:
The Fagus Foundation does not provide a clear avenue of contact, but below is an address:
Fagus Foundation
P.O. Box 1395
Middleburg, VA 20118
LINK:
