As part of the change, of the firm's senior figures will lead the new foundation. At a recent fundraiser – and combining with performances of country music artists – the family behind the business matched amounts generated to be given to this year's partner, the Mayo Clinic Comprehensive Cancer Center.

Nepsis, a US wealth and investment manager, said yesterday that it has officially launched a philanthropic foundation. 

The Nepsis® Foundation aims to enable the firm, its clients and the Pearson family – which is involved in the business – to leave an enduring legacy and advance its ethos of what it calls “Giving With Clarity®.” 

The launch comes at the traditional “giving season” of the year when, with Thanksgiving next week, thoughts often turn to philanthropic projects. 

The foundation was officially launched at the firm's annual Backyard Bash earlier this year, hosted by Nepsis and the Pearson family. The event drew almost 800 clients, partners and friends of Nepsis, raising nearly $40,000 in proceeds from ticket sales and donations. The Pearson family has matched the amount generated by ticket sales, bringing the total funds raised to $75,000 for this year's partner, the Mayo Clinic Comprehensive Cancer Center. 

"As we celebrate the success of our fifth annual event, I hope our attendees feel a deep sense of community and solidarity in our collective fight against cancer,” Nepsis CEO and founder, Mark Pearson, said.

Leading the foundation as president will be Alyssa Greene, who is moving from her role as director of marketing at Nepsis. 

The Pearson family hosts the annual Backyard Bash at their property in Prior Lake, Minnesota. This year’s invite-only event featured performances by country music artists including Nashville-based Erin Grand, two-time American Country Music “New Female Vocalist” nominee RaeLynn and double platinum recording artist Matt Stell.