The CNX board of directors recently approved President and CEO Nick Deiuliis’ request to make a $1.5 million donation to the CNX Foundation, a philanthropic organization that invests in communities within the Appalachian Basin.
The investment will reduce Deiuliis’ 2024 compensation.
“We said when we created the CNX Foundation that the approach would target community investments that are tangible, impactful, and local,” Deiuliis said. “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.”
The $1.5 million will be used for several initiatives:
A total of $1 million will go to the Community College of Allegheny County to expand the Mentorship Academy.
A total of $300,000 will support community directed investments in Westmoreland County.
A total of $200,000 will go to grow the company’s relationship with Outreached Arms, a non-profit organization helping Pittsburgh’s inner city homeless and working poor, Washington County’s LeMoyne Center, and other CNX Foundation partners.