Adobe Commits $3.4 Million to Global Community Partners
Press release from the issuing company
SAN JOSE, Calif.--Aug. 21, 2003-- Adobe Systems Incorporated, the leader in network publishing, today announced a direct financial commitment of more than US$3.4 million in cash grants, educational scholarships, matching gift funds and product donations to support public benefit organizations and schools around the world in 2003. Driving Adobe's community relations program is an increased focus on breaking the cycle of poverty and on serving the areas where Adobe employees live and work. This year, the company expanded its community investments to include recipients in India, Europe, Canada and Japan.
"Adobe is part of a global community, which, now more than ever, needs corporate support for humanitarian and educational initiatives," said Bruce Chizen, Adobe president and CEO. "Adobe's commitment to philanthropy and volunteerism is unwavering, and we will continue to look for opportunities to make a difference in the communities where our employees live and work."
To help create healthy communities, Adobe works closely with public benefit organizations dedicated to either improving primary and secondary education or breaking the cycle of poverty. A majority of the 30 organizations receiving Community Investment Partner grants are located in San Jose, Calif. and Seattle, Wash. where Adobe has its most significant employee populations.
As Adobe's employee population grows, so does the company's investment in the global community. In India, Adobe is supporting UNICEF's 25 by 2005 educational program dedicated to growing the number of girls in school by 2005. In the United Kingdom, the company is sponsoring a Habitat for Humanity building project. In Canada, Adobe is working with the City of Ottawa to help the Coalition of Community Health and Resource Centers provide a variety of programs that address community issues, such as hunger, health and education.
Adobe's educational scholarship program also has been broadened to include students in Canada, Japan, Germany, England, India and France pursuing degree programs in engineering, math, science or education.
"In this sluggish economy, public benefit organizations are challenged to sustain themselves, let alone meet the needs of the community generated by increasing numbers of hungry and homeless," said Peter Hero, president of the Community Foundation Silicon Valley. "It is especially important that, this year, companies like Adobe not back down and continue to give. Adobe is not only sustaining its commitment in 2003, it has been able to expand its investments globally."
The majority of Adobe's $3.4 million financial commitment consists of cash grants, educational scholarships and matching gifts funds. Shrink-wrapped Adobe products and licenses valued at an estimated street price comprise the remaining forty-percent of Adobe's investment dollars. To sustain community donations for years to come, Adobe has deposited more than half-a-million dollars into the Adobe Foundation Fund the company established last year in partnership with the Community Foundation Silicon Valley.
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