At Pax World, creating positive community and environmental impact isn’t limited to our investment approach—it’s engrained in our company culture and our business philosophy. With help from the NH Charitable Foundation (NHCF) and our community impact employee committee, we’re making a positive difference in the world through our community involvement and philanthropy.
In 2014, Pax World partnered with the NHCF to establish the Pax World Management Charitable Fund and help administer our corporate donations and sponsorships to a host of organizations.
“Philanthropic money is money that needs to be wisely invested,” Pax CEO Joe Keefe said. “NHCF offers abundant knowledge of the nonprofit and philanthropic landscape that’s now at our fingertips, allowing us to be more impactful.”
Understanding Pax’s philosophy and interests, the NHCF team brings expertise and funding opportunities to the table and has presented a workshop to Pax employees about charitable giving. Through NHCF, Pax has made grants to support numerous causes, including a group that mentors and empowers teen girls through the arts, public radio and television, environmental stewardship organizations, homeless shelters and food pantries, women’s empowerment organizations, and to groups that battle poverty and oppression.
“There’s so much need out there and yet we have a finite amount of money,” Mr. Keefe said. “We want to have as much impact as we can with every dollar we donate.”
Pax established a committee consisting of employees from a cross section of the firm’s departments to advise on the Pax World Management Charitable Fund. “Giving employees another avenue for community engagement is the perfect answer for us,” Mr. Keefe said, “For a firm our size, it’s just a great way to be more involved in the community.”
In 2017, the employee committee set goals to target charitable contributions in three categories: empowerment of women; environmental protection and conservation; and general needs in the Greater New Hampshire Seacoast area, such as help with substance abuse and addiction, or food and fuel assistance. The committee’s goal is to balance a mix of strategic, longer-term focused grants with those focused on more urgent needs.
In addition to offering financial support to various community organizations through the Pax World Management Charitable Fund, Pax matches employee contributions to non-profit organizations (up to $250 for each of our employees). In 2016, Pax World donated $12,250 as part of the Employee Match Program. Pax also gives back through our employee volunteer program, United Way Day of Caring projects, and organized donation opportunities.
“We want happy, engaged employees,” said Mr. Keefe. “Part of that happiness and engagement is knowing we are making a positive impact in the community.”