Name: Pura Veda Foundation
Key person: Sid Lakhani, right, of Englewood Cliffs
Sid Lakhani launched the nonprofit organization in 2021, following the successful sale of his East Rutherford-based company, Healing Hands Scrubs, to one of the world’s largest medical apparel manufacturers. The explosive growth and ensuing sale of his family-owned business enabled Lakhani to realize a long-held dream of establishing the Pura Veda Foundation, epitomizing his belief that true happiness goes beyond generating material wealth and should also involve making a positive difference in people’s lives.
Connecting profit and purpose is one of Lakhani’s key goals as a corporate executive, and the Pura Veda Foundation serves as the embodiment of that philosophy. The organization is dedicated to uplifting the lives of young people — especially girls and women — who live in underserved communities and lack pathways to success.
The organization is actively looking to multiply its impact by building strong relationships and forging new partnerships with other like-minded companies and nonprofits that share a vision for creating “purpose-driven” cultures, with a willingness to take on some of the world’s most difficult humanitarian challenges.
The foundation has made tremendous impact on the lives of individuals, through providing access to shelter, education, modern technology, skills training and job opportunities. With the organization’s support, young and vulnerable women from impoverished communities have gained safe, stable environments to learn and grow, where they are well-positioned to land good-paying jobs or launch their own businesses. They’re earning sustainable incomes, able to feed their families and saving for future goals. This has a positive ripple effect in the community as well as a generational benefit.
The Pura Veda Foundation continuously strives to address some of the world’s most pressing humanitarian challenges by funding a diverse and growing range of global charities. It actively supports Children’s Hope India, Homes of Hope India, Trickle Up and TAARA (Trafficking, Awareness, Advocacy & Rehabilitation Advancement), which are focused on breaking the vicious cycle of poverty through education, career training, housing, medical care and protection for victims of sex trafficking.
The Pura Veda Foundation was launched as a donor-advised fund entirely supported by personal contributions from Lakhani after the sale of his family-owned business. The investments are actively growing and providing additional funding for the Pura Veda Foundation’s philanthropic goals.
The foundation is inspired by the positive impacts and achievements of selfless corporate leaders like Patagonia founder Yvon Chouinard, and Blake Mycoskie, the founder of Toms. Chouinard built a tremendously successful company and has used his considerable platform to advocate for pressing environmental issues, and Mycoskie pioneered the “One for One” business model, where, for every pair of shoes sold, a pair is donated to a child in need. By raising awareness about the Pura Veda Foundation’s critical work, the organization is seeking to forge new partnerships with similar like-minded entities to expand its reach and influence.
It is equally important to the business world as the nonprofit sector to create “purpose-driven” cultures defined by strong relationships, tight alignment on values and empathetic leadership. People are highly motivated and engaged when working for a company or organization with a clearly established purpose and executive leadership that appreciates their needs and is responsive to the communities they serve.