Who We Are
Steve Hicks, Chairman and Chief Executive Officer
For many years, our society has consisted of three traditional sectors: private, public, and nonprofit – each operating independently, and rarely in concert. As a rule, organizations within the private sector operate with the aim of maximizing profits for their owners, while public and nonprofit institutions operate with the aim of improving and enriching the communities they serve.
In an effort to more efficiently advance societal goals in the face of today's economic challenges, there has begun a new era of collaboration among these sectors, resulting in creative and innovative solutions to the diverse and unique needs confronting communities and public institutions. In response, organizations such as Provident have emerged, seeking to advance community objectives while observing sound business principles – serving the greater good without sacrificing financial performance. Entities like Provident are part of what is often described as the emerging fourth sector – an innovative combination encompassing corporate social responsibility, social investing, social enterprise, and public-private partnerships. Provident is positioned at the forefront of this movement, providing the skills, expertise, and resources necessary to pursue and accomplish a broad range of charitable purposes while at all times remaining committed to maintaining compliance with and following best practices in the governance and regulatory environment applicable to nonprofit organizations.
Since 2000, Provident has been serving its mission in communities throughout the United States. In doing so, we have become a standard bearer for a new archetype in organizational design-one that seeks to serve its charitable missions while achieving sound financial results. This has been accomplished through a commitment to purpose, a disciplined approach to financial management, and from the support and confidence of financial institutions and other capital sources which provide the necessary funding to accomplish our missions.
Thanks to the advice, counsel, and support of a talented and diverse board of directors from across the nation, an outstanding professional staff at all levels, and the resources of numerous financial institutions at the local and national level, Provident has accessed nearly $3 billion in capital in support of its charitable mission. With assets under management and operation of $1.35 billion as of December 31, 2016, Provident is proof that even in a rapidly changing world a nonprofit organization can effectively serve the greater good while achieving sound financial results.