Disaster Relief Non-Profit Joins Wall Street Company on Social Mission
NEW YORK, April 23, 2014 – In its efforts to pair fiscal responsibility with social responsibility, Caritas Partners has formed a partnership with HEART 9/11, an organization committed to responding to disaster-stricken communities in crisis and to building accessible housing for wounded U.S. veterans.
Through the joint venture, companies working with Caritas Partners have the option of making a financial contribution to support the work HEART 9/11 is doing assisting communities facing crisis. By selecting Caritas Partners to execute a buyback (through Caritas parent broker/dealer du Pasquier & Company, Inc.), companies can choose to donate a minimum of 15 percent – up to 50 percent – of commissions to either HEART 9/11 or another charity or foundation of their choice. Caritas will also contribute 100 percent of commissions generated during the first day of trading to the client’s preferred charity.
“Both Caritas and HEART 9/11 were derived from the same core: a long history of expertise in a given field and a commitment to giving back and making our communities better,” said Bill Keegan, president and founder of HEART 9/11. “For us, it’s using our emergency response skills and training to assist those in need, and for Caritas, it’s leveraging decades of financial expertise trading billions of dollars and knowing how the market works. We are thrilled to align ourselves with Caritas Partners in offering companies a new way to think about giving.”
“I can’t think of a better collaborator for Caritas Partners than HEART 9/11, a group formed after September 11, 2011 whose volunteers – drawn from the FDNY, NYPD, Port Authority Police Department and NYC Building Trade Members – have come to define the safety, security and spirit of New York City,” said Richard C. Naso, founder and chief executive officer of Caritas Partners. “Companies now have a streamlined way to contribute to charities like HEART 9/11 as part of the regular business transactions that happen every day.”
Donating a portion of financial commissions – at no additional cost to the corporate client – is an option no other company currently offers as a platform, day in and day out. With buyback authorizations topping $755 billion last year and the interest in repurchases continuing in 2014, buybacks have been healthy for companies and shareholders – and through Caritas Partners, they can now be beneficial to social causes.
