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
