Cary, NC (PRWEB) May 08, 2013
SciQuest (NASDAQ: SQI), a leading provider of cloud-based business automation solutions, today announced several charitable and volunteer efforts to support causes important to the company’s commitment to both local and national communities. This includes naming the latest recipients of grants from the SciQuest Charitable Fund.
Created as a donor-advised fund in 2011 by SciQuest through the Triangle Community Foundation in North Carolina, the SciQuest Charitable Fund’s latest grants support three organizations focused on strengthening youth and young adults who are in crisis, as well as helping to prevent and end homelessness.
Twice a year, the SciQuest Charitable Fund makes donations focusing on both national and regional 501c3 organizations. In addition to supporting local North Carolina charities, SciQuest also selects a charity near one of its other locations to support as well. This year, the spring recipients include:
- Haven House, a non-profit agency that strengthens youth and young adults through effective programs, advocacy and community mobilization in the Triangle area of North Carolina. The agency’s Outreach Center employs a drop-in model, which provides homeless and street-dependent youth ages 17-23 with a safe and structured place for study, socialization, positive recreational activities and more. A recent reduction in federal funding reduced the Outreach Center’s staffing from five to three days per week. The donation from SciQuest will allow Haven House to reopen the Outreach Center one more day per week, which would impact services provided through the agency’s other programs.
- HomeAid Houston, a chapter of HomeAid America, which provides pro bono construction services to homeless shelter providers. The organization’s mission is to build dignified housing where homeless families and individuals can rebuild their lives. SciQuest’s donation will support the organization’s general funds, which will allow it to save homeless providers a total of $628,300 in 2013, add capacity for approximately 116 homeless people and increase the functionality of four facilities that serve hundreds of Houston’s homeless.
- Housing for New Hope, an organization which prevents and ends homelessness by providing increased access to healthcare, integrated services and housing. Its Rapid Rehousing Program helps the homeless transition to secure permanent housing. Since 2009, funded by federal stimulus dollars, the program successfully moved 173 households from homelessness to sustainable housing with a 92% retention rate. This funding ended last summer, so SciQuest’s grant will help fund the program in 2014 and beyond and keep the national best practice program operational.
In addition to the company’s charitable donations, SciQuest employees recently completed an extremely successful food drive to support the Food Bank of Central and Eastern North Carolina. Its food drive donations weighed 1,760 pounds, which will provide 1,482 meals to the community. Other activities scheduled in 2013 will support The Soup Line at Salvation Army and Habitat for Humanity.
“Supporting organizations that serve our nation’s homeless and underprivileged population is just one way that SciQuest and our employees can make a positive impact on the lives of others,” said Stephen Wiehe, president and CEO, SciQuest, Inc. “The organizations we have selected for this round of donations are doing outstanding work in providing positive opportunities for youth and young adults and homeless individuals and families. We are humbled and pleased to be able to share in those efforts.”
About Triangle Community Foundation
Triangle Community Foundation is a nonprofit that manages nearly $160 million in funds established by families, businesses, individuals, and organizations. From these funds, it makes grants to nonprofit organizations and administers a variety of programs for the community’s benefit. The Foundation manages over 760 funds, ranging in size from $10,000 to $7 million, mainly for the benefit of Wake, Durham, Orange and Chatham counties. During the 2011-12 fiscal year, the Foundation granted more than $13 million to nonprofits, schools and community efforts. For more information, visit http://www.trianglecf.org.
With a reputation for deep domain knowledge, a solid customer-driven portfolio, and industry-leading customer satisfaction, SciQuest (NASDAQ: SQI) is the largest public provider of cloud-based business automation solutions that turn spending into savings. SciQuest solutions enable greater visibility and compliance organization-wide to help you gain control, optimize efficiencies, and reduce spend. These cloud-based solutions are easier to implement and proven to deliver measurable, sustainable value with SciQuest’s high-touch support, analysis and automation.
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Cautionary Note Regarding Forward-Looking Statements
Any statements in this release that are not historical or current facts are forward-looking statements. All forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Certain of these risks and uncertainties are described in the “Risk Factors” section of our Registration Statement on Form S-1 and other required reports, as filed with the SEC, which are available free of charge on the SEC’s website at http://www.sec.gov or on our website at http://www.sciquest.com. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. These forward-looking statements speak only as of the date hereof, and we undertake no obligation to update, amend or clarify any forward-looking statement for any reason.
SciQuest Media contact:
Michelle Perkins, 919-659-2228
fama PR for SciQuest
Dan Gaffney, 617-986-5036
SciQuest Investor contact:
Jamie Andelman, 919-659-2322