Press Releases
5AM Solutions Employees Direct Firm's Charitable Contributions
Eight charities receive 5% of software company’s net income
Reston, VA, September 4, 2008 – 5AM Solutions, a 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. The company allows employees to spend one per cent of time each year (three days) volunteering for the service of others with organizations and activities of the employee’s choosing. The company also established a policy to donate five per cent of its net income to charities suggested by its employees and directed by a company-wide vote.
After closing its fiscal year in late April, the company set aside the 5% for employees to nominate charities to receive the funds. Voting by employees determined which would receive the contributions and at what level.
The company is pleased to support the Alzheimer’s Association (www.alz.org); the American Cancer Society’s Cancer Survivor’s Network program (www.cancer.org); the Electronic Frontier Foundation (www.eff.org); Greater DC Cares (www.dc-cares.org); the Hunger Project (www.thp.org); the Juvenile Diabetes Research Foundation (www.jdrf.org); Save the Children (www.savethechildren.org); and to endow a fund to finance entrepreneurs worldwide through Kiva (www.kiva.org).
5AM employee Rashmi Srinivasa, who nominated the Hunger Project to receive the company’s contribution, said, “Extreme poverty can be ended in our generation, and I am thrilled that 5AM cares enough to be a part of that drive. Giving people a helping hand to rise above the rung of constant hunger will empower them to discover the strength of their own spirit and produce achievements that would otherwise be lost to the world.”
Brent Gendleman, 5AM’s CEO and President, concurred, saying “As a company focused on providing software solutions in the life sciences, we are pleased to provide annual donations to charities our employees care about. Having employees drive our charitable contributions, including to organizations outside our domain, allows us to extend our reach as individuals and a collective.”
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