Diamond Hill: A Gem for Mount Carmel and the Community
Just as a gem relies on having many facets to create value, so too does the relationship between the Mount Carmel Foundation and Diamond Hill Capital Management.
“Creating long-standing relationships is one of our key strategic initiatives — for both our business model and our charitable giving,” says Tom Line, Chief Financial Officer for Columbus-based independent investment management firm Diamond Hill Capital Management. “The relationship between Mount Carmel and Diamond Hill is well-established and enduring.”
Ric Dillon, Founder and Chairman of the Board for Diamond Hill, has been involved with Mount Carmel in one way or another for many years. Fellow Diamond Hill board member Jim Laird served on Mount Carmel West’s Development Committee, leading the fundraising effort for the Mount Carmel Crime & Trauma Assistance Program. And Bill Zox, the firm’s Chief Investment Officer — Fixed Income, served on the Mount Carmel Foundation board, continuing the work started by his father and sister.
“The longevity of our relationships with Mount Carmel matters to us a great deal and it aligns with our focus on supporting the needs of the Columbus community,” Line notes.
“Diamond Hill’s mission is to serve our clients by providing investment strategies that deliver lasting value through a shared commitment to our intrinsic value-based investment philosophy, long-term perspective and disciplined approach,” Chief Executive Officer Chris Bingaman explains. “This is consistent with our mission to establish an effective and meaningful charitable giving program that provides value to the community.”
Julie McConnell, who chairs the firm’s charitable giving committee, notes that the Diamond Hill Capital Management Charitable Foundation, which was established in December 2006 as a donor-advised fund of The Columbus Foundation, focuses its grants primarily on the needs of the local community and causes that are meaningful to the firm’s employees. The committee and Foundation place great emphasis on matching employee gifts to causes about which they’re passionate.
“The committee listens to associates and seeks to align its focus with their personal philanthropy,” she says. “In this way, we forge a strong partnership of giving throughout the organization.”
With 90 percent of Diamond Hill’s workforce in the greater Columbus area, employees and principals alike are able to donate their time and talent to community organizations like LifeCare Alliance, Faith Mission, Cristo Rey Columbus High School and others, where they feel their hands-on help is most needed. Diamond Hill team members also participate in several charitable events throughout the year, including Pelotonia and the Columbus Alzheimer’s Walk.
In all, the Diamond Hill Charitable Foundation supports more than 60 non-profit organizations whose needs are consistent with its preferred causes.
“Mount Carmel’s initiatives are clearly in line with the causes we have identified as community needs,” Line says. Among those are:
- Children’s needs (hunger, family issues and pediatric care)
- Poverty-driven basic needs (food, clothing, shelter)
- Healthcare (research and capital needs)
“The bottom line is, we want to provide our support in a way that makes a meaningful impact,” he says. “It’s a good feeling to know that Diamond Hill is helping Mount Carmel make a difference in people’s lives and in the community.”
Diamond Hill Capital Management, with approximately $21.5 billion in assets under management, provides investment management services to institutions and individuals through mutual funds, separate accounts, exchange-traded funds and private investment funds. Diamond Hill has been serving clients in central Ohio since 2000, providing investment strategies that deliver lasting value.
By participating in the annual Mount Carmel Foundation Golf Invitational at Pinnacle Golf Club in Grove City, Diamond Hill Capital Management enabled Mount Carmel College of Nursing (MCCN) students to answer their life’s calling to become professional registered nurses. With more than 90 percent of MCCN’s students receiving financial aid for their education, funds raised at the Invitational also help meet the demand for much-needed healthcare in the community — today and tomorrow — by providing scholarships and instructional technology.
This article was originally published in the 2017 Annual Report to the Community.