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Quark Invests $3 Million in New Foundation

Thursday, January 24, 2002

Press release from the issuing company

DENVER - January 22, 2002 - Quark Inc. today announced that it has established a new non-profit corporation dedicated to the worldwide support of programs in the areas of education, health, and training. Quark has made an initial investment of $3 million in THE QUARK FOUNDATION. THE QUARK FOUNDATION is developing diverse and sustained giving programs that foster academic, scientific, literary, cultural, and historical activities around the globe, with a particular emphasis on supporting programs that promote innovation and self-enrichment. THE QUARK FOUNDATION counts education as a top priority in its philanthropic efforts. "I think it's important to make education available to those who are disadvantaged," said Fred Ebrahimi, CEO of Quark. "Quark has been very lucky. It means a lot to us to be able to channel what we have learned and achieved into philanthropic initiatives that are practical and that promote self-sufficiency. In a very modest way, we hope to make a difference, and that means a lot to me and to our employees worldwide." THE QUARK FOUNDATION’s initial activities have been focused on the communities in which Quark has a corporate presence. The foundation has awarded grants to needy public schools in Denver and Laramie County, Wyoming, thereby contributing to improving the safety of playground equipment, providing crucial classroom resources, and developing student mentoring programs in disadvantaged neighborhoods. A sister foundation, Quark Benevolent, is currently being established in India. Quark recently established a scholarship program in India to nurture gifted students who would otherwise be unable to pursue higher education. Quark plans to channel significant funds from both foundations to education and support programs for women in Afghanistan. THE QUARK FOUNDATION’s philanthropic efforts are focused on specific projects and programs that fit within targeted areas of interest. THE QUARK FOUNDATION initiates its own grants, and does not accept unsolicited grant proposals.

 

 

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