News

01.18.07

Empowered by $25.4 Million Gift, NU Foundation Launches New Community Investment Plan

Foundation celebrates launch with historic, $1 million
grant to the Connecticut Science Center

BERLIN, Connecticut, January 18, 2007 – The Northeast Utilities (NU) Foundation announced today that it has received a gift of $25.4 million from Northeast Utilities—an endowment that enables the Foundation to move forward with a new framework for charitable giving, as well as its plans for significant, long-term community investments in the region.

In celebration of the endowment, the NU Foundation also announced today that it will provide a $1 million grant—the largest in its history—to the Connecticut Science Center, currently under construction in Hartford, to fund the physical science gallery, Forces in Motion.

“With the recent sale of our competitive generating assets, Northeast Utilities saw an opportunity to make a substantial and much-needed investment in the communities we serve,” said Charles W. Shivery, Northeast Utilities’ chairman, president, and chief executive officer, and chairman of the NU Foundation. “This gift to the NU Foundation puts us in a position to make contributions at a level that, through the work of organizations like the Connecticut Science Center, can measurably impact societal issues and make a real difference in people’s lives.”

A New Framework for Charitable Giving
To assure the best use of its new resources, the NU Foundation recently underwent a comprehensive review that included discussions of local needs and priorities with more than 35 community leaders throughout NU’s service territory in three states. The Foundation also reached out to hundreds of NU employees.

“We learned what our communities consider to be top priorities: jobs, an educated workforce, sustainable development, and a clean and healthy environment,” said Shivery. “The NU Foundation is now redefining the scope of its investments to address these priorities, in particular. By concentrating our efforts on a few major issues, we hope to help ‘move the needle’ on some of the region’s most pressing concerns.”

Shivery also indicated that the Foundation’s investments will be complemented by contributions at the state level, administered by newly created “Contributions Councils” in Connecticut, Massachusetts, and New Hampshire. The Councils will be overseen by the leadership of NU’s operating companies in each state.

“In essence, we have created a new framework for charitable giving at NU, with the Foundation focused on specific investment priorities at a regional level, and the Contributions Councils responding to state and local needs,” said Shivery. “This framework also draws on NU’s most valuable asset: our workforce. Knowing how beneficial their service and volunteerism has been in our communities, we understood from the start how important it was to engage NU employees in this mission by focusing on priorities that matter to them, as well.”

The Science Center Gift
The $1 million NU Foundation grant to the Connecticut Science Center represents an expansion of an initial $200,000 grant made in November 2003.

“This is a very generous gift from the Northeast Utilities Foundation which brings us closer to our dream of establishing a world class destination and educational resource facility for families and school groups alike,” said Dr. Theodore S. Sergi, president and chief operating officer of the Connecticut Science Center. “Our goal is to excite visitors about the sciences and engineering, and to influence the workforce of the future.”

Responding to Community Needs
In the coming months, the NU Foundation will stage a “listening tour” to hear more specifics about local priorities from community officials and leaders of nonprofit organizations. The goal of the tour is to ensure that NU Foundation investments achieve the maximum benefit in communities throughout the region. The Foundation will then work with strategic partners to implement local projects.

“The new framework for NU’s charitable giving is focused on helping our communities achieve their most urgent and important goals for the future,” said Shivery. “This is an opportunity to ensure that the Foundation is responsive to the needs of the people we serve, and that our charitable giving is aligned with our company’s core values.”

The Northeast Utilities Foundation, established in 1998, has proudly supported charitable partners in Connecticut, Massachusetts, and New Hampshire with total donations of more than $10 million. For more information on the Northeast Utilities Foundation, visit www.northeastutilitiesfoundation.org.

The Connecticut Science Center, now under construction at Adriaen’s Landing in Hartford, will spark creative imagination and an appreciation for science by immersing visitors in fun and educational hands-on, interactive experiences. The Center is a non-profit organization dedicated to enhancing science education throughout the state of the Connecticut, providing learning opportunities for students and adults of all ages, and engaging the community in scientific exploration. Details, images, news releases and live webcam are available online at www.ctsciencecenter.org.

Photos

	Charles W. Shivery, Northeast Utilities’ chairman, president, and chief executive officer, announces a gift of $1 million to the Connecticut Science Center, the largest gift in the history of the Northeast Utilities Foundation. Click here to download.
	Greg Butler, Northeast Utilities’ Senior Vice President and General Counsel, helps students from Two Rivers Magnet Middle School race square-wheeled cars in one of the Connecticut Science Center’s exhibit prototypes. Click here to download.
	Engineering their own cars and racing them down a ramp, students enjoy interacting with one of the Connecticut Science Center’s exhibit prototypes for the Northeast Utilities Foundation Forces in Motion exhibit gallery. Click here to download.
	A rendering of the Forces in Motion Gallery. Click here to download.