Company's Unique Tangible, Impactful, Local
Approach to Community Investment Continues to Evolve and
Expand
CNX CEO Compensation Reduction for 2024 to be
Invested into Mentorship Academy Expansion, Community Directed
Projects within CNX Operational Footprint, and Expansion of
Existing Community Partnerships in Underserved Rural and Urban
Communities
PITTSBURGH, Feb. 21,
2024 /PRNewswire/ -- Building on the CNX Foundation
and Mentorship Academy's record of success in making a substantive
difference on the complex issues facing the region, CNX's (NYSE:
CNX) Board of Directors and Nick
Deiuliis, President and CEO of the Company, today announced
that the Board approved Mr. Deiuliis' request to make a
$1.5 million donation to the CNX
Foundation and commensurately reduce his 2024 compensation.
This follows a previous $1.5
million contribution in 2023 and $1
million contribution in 2022 to the CNX Foundation funded
through continuing reductions in Mr. Deiuliis' compensation.
CNX President and CEO Nick
Deiuliis said, "Having placed the Foundation and
Mentorship Academy on a secure path to long-term financial
sustainability through previous years' donations, we are doubling
down on our region and our industry by investing in proven,
hyperlocal strategies that directly assist the region's underserved
rural and urban communities." Mr. Deiuliis continued, "We said when
we created the CNX Foundation that the approach would target
community investments that are Tangible, Impactful, and Local. That
effort has been a great success, and I can't think of anything more
impactful than the virtuous circle of investments in our
communities in need that, in turn, pay dividends to our company and
our industry. So, I am happy to help fund the expansion of the
successful efforts of the CNX Foundation in a way where it is most
beneficial to the region and to the shareholder owners of CNX."
Specifically, Mr. Deiuliis' 2024 donation will be directed
toward the following initiatives:
- Extending elements of the successful Mentorship Academy concept
in collaboration with Community College of
Allegheny County (CCAC) to remove barriers and create career
pathways for local trade members, veterans, survivors of domestic
violence and opioid addiction, and the formerly incarcerated by
providing the knowledge and skills needed to access and thrive in
the region's evolving energy economy - $1
million. To learn more about the expanded CNX/CCAC
public-private partnership, click here.
- Supporting community directed investments specifically targeted
at the Company's Westmoreland County, Pennsylvania operational footprint. Through
CNX's hyperlocal engagement with communities, and because of the
Mentorship Academy's direct involvement with area students,
teachers, administrators, and parents, CNX is empowering local
communities to help steer investments into the areas of most need
in direct alignment with CNX Foundation investment pillars. This
investment strategy addresses the true needs of a community through
hyperlocal input – $300,000.
- Expanding existing community-based partnerships that are making
a Tangible, Impactful, Local impact. Specifically, CNX
Foundation is growing its relationship with Outreached Arms, who
provides hope to Pittsburgh's
inner city homeless and working poor, Washington County's LeMoyne Center, and other
key partners of the CNX Foundation. Funds will be dedicated toward
programs like Outreached Arms' Next Steps initiative that
empowers participants toward gainful employment and
self-sufficiency, and the LeMoyne Center's after school homework
assistance program that supports the academic achievement of the
region's youth – $200,000.
"We are grateful for the many ways CNX supports CCAC and the
success of our students. The expanded partnership with CNX and the
CNX Mentorship Academy will have a positive impact on the college,
enhancing our leadership in workforce training and providing us
with the opportunity to enroll more students in the program. CNX's
generous commitment to allocating funds to support CCAC's Student
Emergency GAP Fund will make a meaningful difference by helping
students in direct financial need to continue their studies,"
said Dr. Quintin Bullock, CCAC
President.
These new and expanded initiatives align with CNX's core values,
foster local opportunities and progress, and make a positive impact
by facilitating programs that bolster underserved communities'
access to quality, high-paying careers in the region's rapidly
evolving energy industry.
"We are truly grateful for the partnership with CNX and the
tremendous impact it has had on Outreached Arms," said
Rob Rudy, Co-founder and
Executive Director of Outreached Arms. Mr. Rudy continued,
"Their generous grant has been instrumental in fueling the growth
of our nonprofit organization, allowing us to reach even more
individuals struggling with food insecurity, while establishing a
strategy to help our constituents achieve self-sufficiency through
employment. Over the last year, CNX's support has enabled us to
expand our outreach efforts, increase our capacity to provide
nutritious meals, and implement innovative programs to address the
root causes of hunger in our community. Together with CNX, we have
made significant strides in alleviating hunger and nourishing the
lives of those in need. We look forward to continuing this
partnership and making an even greater difference in the lives of
individuals and families facing food insecurity."
The proven outcomes of the CNX Mentorship Academy in directly
engaging and supporting entry into the industry—creating life-long
employment opportunities—represents the ability for CNX's human
capital efforts to unlock barriers for underserved rural and urban
communities across the region.
To learn more about CNX's Appalachia First strategic
vision,
visit https://www.positiveenergyhub.com/copy-appalachia-first.
To learn more about the Mentorship Academy and apply to enroll in
the program,
visit https://www.cnx.com/about-us/the_mentorship-academy.
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 160-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, 2023, CNX had 8.74 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.
About The Community College of Allegheny
County (CCAC)
Since its founding in 1966, CCAC has flourished, becoming the
educational powerhouse it is today—a nationally renowned two-year
college dedicated to serving all members of the community. From
groundbreaking student success initiatives to top-ranked academic
and career-based programs, CCAC continues to be the college of
choice for nearly one out of every two adults in the Greater Pittsburgh metropolitan region. Each
year, more than 30,000 students enroll at CCAC, taking advantage of
nearly 150-degree, certificate, diploma and transfer programs as
well as hundreds of noncredit and workforce development courses.
Comprising four campuses and three neighborhood centers, as well as
other off-site locations, CCAC is honored to have one of the
largest veteran student populations in the state and takes pride in
ranking among the nation's top community colleges for the number of
individuals graduating in nursing and other health-related
professions. CCAC graduates have transferred to the nation's most
prestigious colleges and universities, have obtained the most
academically challenging and competitive degrees and can be found
at leading companies, organizations and institutions throughout the
country. CCAC alumni are actively engaged in every sector of
society, providing leadership to scores of economic, scientific,
civic and philanthropic entities both in the Pittsburgh region and around the world.
Visit ccac.edu to learn more.
About Outreached Arms
Outreached Arms™ is a
non-profit, 501(c)(3) organization that mobilizes volunteers to
live and spread the Word of God through service to others. Our
mission is to serve food to the hungry, build relationships that
inspire the despaired, provide basic necessities and services for
the poor, and teach and exemplify the message of Jesus Christ to
all. Founded in 2010 through the desire of a family to serve
together, Outreached Arms™ is about unity in service while
accomplishing the Great Commission. We are blessed abundantly as we
see Lives Changed. Learn more at
https://www.outreachedarms.org/
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SOURCE CNX Resources Corporation