CNX Foundation to Take on School Lunch Debt, Local Veterans' Needs, and Other Socio-Economic Hardships of Residents and Families in Operating Communities
Company and Foundation Expanding Unique Appalachia First Micro-Targeted Approach to Tangible, Impactful, Local Community Investments
PITTSBURGH, Feb. 12, 2025 /PRNewswire/ -- CNX Resources Corporation (NYSE:CNX), President and CEO Nick Deiuliis, and the CNX Foundation today announced they have commenced a new campaign to erase school lunch debt, support local veterans, and address essential needs of families in the region as part of the Company's Appalachia First strategic vision.
Eschewing the typical corporate practice of providing donations to large non-profit organizations, CNX's distinctive philanthropic approach prioritizes hyper-localized investments directly targeting individuals and entities most in need. Doing so creates a virtuous circle of investment in the Company's local communities that grows the region's best-in-class workforce and pays dividends to the Company and industry over the long term.
Specifically, the 2025 campaign will be directed toward:
- Erasing School Lunch Debt in Western Pennsylvania Communities
No child should feel embarrassed or face financial barriers to a school meal. Instead, children should be focused on growth and development in the classroom. The CNX Foundation will leverage existing partnerships with school district administrators in the Company's operational areas to eliminate school lunch debt for families struggling to keep up. - Supporting Veterans Throughout the Appalachian Region
To honor Appalachia's storied legacy of military service, funding will support projects and initiatives directly benefitting veterans in need through locally focused government and private organizations including Veterans of Foreign Wars and the American Legion in CNX's operating regions. - Addressing Essential Needs of Individuals and Families in CNX's Operating Footprint
Recognizing the financial and emotional strain that debt related to essential needs, especially medical expenses, places on families and neighbors, the CNX Foundation will work with local healthcare providers, utilities, and businesses to relieve debt related to essential needs for the region's underserved.
This new, unique, and exciting Appalachia First campaign will be fully funded by the CEO with the Company agreeing to a commensurate reduction in CEO compensation for 2025. This year's funding follows $4 million in cumulative offset compensation committed by Mr. Deiuliis and CNX since 2022.
This funding approach has allowed the CNX Foundation to establish and expand its flagship Mentorship Academy initiative, providing career-readiness programming and access to well-paying employment opportunities for regional underserved rural and urban youth, along with a host of other impactful CNX Foundation efforts at no incremental cost to the Company.
CNX President and CEO Nick Deiuliis said, "We are beyond excited about this new chapter in the CNX Foundation and Appalachia First journey. We are positioned to tangibly impact countless lives of neighbors in need by directly addressing critical issues and obstacles to prosperity that people face every day, one individual and family at a time. We can't think of anything more impactful to the goal of helping to build a vibrant middle class that will sustain our region and local communities for years to come."
About CNX
CNX Resources Corporation (NYSE:CNX) is unique. We are a premier, ultra-low carbon intensive natural gas development, production, midstream, and technology company centered in Appalachia, one of the most energy abundant regions in the world. With the benefit of a 161-year regional legacy, substantial asset base, leading core operational competencies, technology development and innovation, and astute capital allocation methodologies, we responsibly develop our resources and deploy free cash flow to create long-term per share value for our shareholders, employees, and the communities where we operate. As of December 31, 2024, CNX had 8.54 trillion cubic feet equivalent of proved natural gas reserves. The company is a member of the Standard & Poor's Midcap 400 Index. Additional information is available at www.cnx.com.
About CNX Foundation
The CNX Foundation is a registered 501c(3) philanthropic organization that invests tangibly, impactfully, and locally, targeting urban and rural communities within the Appalachian Basin that face socio-economic challenges. With a commitment of $30 million over six years and a focus on underserved populations, the CNX Foundation seeks to set a new standard for how corporations engage with their communities. Additional information, including funding criteria and grant application details can be found at www.cnx.com/foundation.
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SOURCE CNX Resources Corporation