The Boston Jazz Foundation hosted its annual fundraiser March 27 in preparation for the July Charles River Jazz Festival.

The fundraiser featured a silent auction, dinner and a performance from saxophonist Gregory Groover Jr.

The Charles River Jazz Festival is in its fifth year running as the Boston Jazz Foundation’s staple event, said Seba Molnar, co-founder and chairman of the Boston Jazz Foundation board.

Molnar said the Charles River Jazz Festival prioritizes paying the artists well, which is a large part of its budget. The other parts of its budget include renting equipment, booking space and advertising.

“All of that kind of adds up very quickly,” he said. “[The fundraiser is] a moment for us to connect with the community and show all the growth that we’ve had.”

Molnar said much of the necessary money comes from government and foundation grants, but an important portion is sourced from individual patrons.

As the third official fundraiser, Molnar said he was glad to see that they were able to secure a space at the Rochambeau, a restaurant in Back Bay.

“It’s a big level up this year,” he said. “We’re moving up in the world.”

Ken Field, president of Jazz Boston, said higher real estate prices in Boston have created problems for jazz venues, which rely on live music for their revenue. These issues were exacerbated by the COVID-19 pandemic, and as a result, Boston lost numerous jazz clubs.

However, between successful advocacy with local governments and continued support for jazz by Boston residents, Field said he remains optimistic.

“I’m optimistic, because of all the people I see: old people and young people and people in between who are interested in this music,” Field said.

Likewise, Molnar sees a bright future for the Boston jazz scene.

“There’s definitely a lot of hope for the future,” Molnar said. “There’s a lot of young people that are really excited about [jazz] and are making things happen, so that’s really inspiring.”