Press Releases
5AM Solutions Makes Employee-Directed Charitable Contributions
Five charities receive 5% of company's net income
Reston, VA, October 20, 2007 – 5AM Solutions, an emerging life science software engineering firm, today announced the donation of five per cent of its net income to a group of charities selected by its employees.
In 2005, the company envisioned sharing its prospective good fortune in two ways. First, it was decided that the company would allocate one per cent of each employee's time to be spent volunteering for the service of others with entities of the employee's choosing. Second, the company would donate five per cent of its net income to charities suggested by its employees and directed by a company wide vote.
FY 2006 marked the company's first year of positive net income. Employees nominated charities to receive the donation, and voting by employees determined the distribution of the roughly $11,000 in contributions.
The company is pleased to support the American Cancer Society (www.cancer.org); the Electronic Frontier Foundation (www.eff.org); Save the Children (www.savethechildren.org), the Juvenile Diabetes Research Foundation (www.jdrf.org); and the endowment of a Kiva fund to finance entrepreneurs worldwide (www.kiva.org).
Said Todd Parnell, a 5AM employee who nominated EFF to receive the company's contribution, "It just makes sense for a group of engineers to support a nonprofit group of passionate lawyers, technologists, volunteers, and visionaries to protect our digital rights. I'm glad we can and do give back."
Brent Gendleman, 5AM CEO and President, concurred, saying "5AM is in the business of becoming the provider, employer and investment of choice for software in the life sciences. As such, we understand that achieving those goals require us to contribute to the communities we live in, serve and build. Our projections for 2007 look even better and we look forward to announcing what we will give next year."
About 5AM Solutions
5AM Solutions develops innovative software solutions for academic, government, commercial, and non-profit life sciences organizations. The company helps evolve the way biomedical researchers work and collaborate by using software to reveal new insights hidden in vast amounts of data, facilitate translational research, and solve workflow challenges. The company’s solutions can overcome IT-based roadblocks to discovery and accelerate progress toward the ultimate goal of better health and improved patient outcomes.
Contact:
Leslie Power
202-359-0990 voice
888-577-8855 fax
lpower@5amsolutions.com