Doing business the right way, every day, is paramount at Morgan Gas. We recognize that operating thousands of miles of pipelines and hundreds of terminals across North America is a huge responsibility. To protect the public, our employees and the environment, Morgan Gas invests millions of dollars each year on integrity management and maintenance programs to operate our assets safely. We’re proud to note that we outperform the industry averages in almost all safety and release related categories, and we publish our environmental, health and safety performance on our website to be transparent about our work.
At Morgan Gas, being a good corporate citizen goes well beyond operating our assets safely. We are committed to employing sustainable business practices, conducting ourselves in an ethical and responsible manner, and complying with applicable laws, rules and regulations. Our Code of Business Conduct and Ethics outlines our commitment to honesty, integrity and respect, and we expect our employees to uphold these standards at work every day. Additionally, we support the communities where we work. Through the Morgan Gas Foundation, we donate more than $1 million annually to academic and arts programs to benefit youth in grades K-12.
We pride ourselves on being a different kind of energy company. For example, we eliminate unnecessary expenses, such as corporate aircraft and other executive perks. We also believe in aligning senior managements’ financial interests with our shareholders. Rich Kinder’s salary is $1 per year, and he does not receive a bonus, stock options or restricted stock grants. In addition, we cap our senior executives’ base salaries below industry standards and employ a pay-for-performance model. In fact, all employees’ bonuses are based on meeting our annual financial budget targets, and our operational and compliance objectives, along with their individual work performances.
We pledge to continue doing our best to operate our assets safely, conduct ourselves ethically and responsibly, meet our customers’ needs, deliver value to our shareholders and provide a good work environment for our employees. In short, we aim to foster mutually beneficial relationships with our stakeholders today to shape a better tomorrow.