Adobe Commits $4 Million in Funds, Products and Scholarships to Partners
Press release from the issuing company
SAN JOSE, Calif.--June 3, 2004--Adobe Systems Incorporated today announced a direct financial commitment of more than US$4 million in cash grants, educational scholarships, matching gift funds and product donations to support community organizations around the world. The commitment represents an increase from the US$3.4 million commitment the company made in 2003 to community partners and organizations worldwide.
"As our business continues to grow, so do our community investments," said Bruce Chizen, president and CEO of Adobe. "With the help of new partners, we are continuing to focus on meeting the immediate hunger and housing needs of the communities where our employees live and work. But the key to breaking the cycle of poverty lies in quality education."
A majority of Adobe's community investment cash grants in 2004 are being awarded to public benefit organizations and schools located in Adobe's largest communities: San Jose, Calif., Seattle, Wash. and Ottawa, Canada. In addition, Adobe continues to support UNICEF educational efforts in India and Habitat for Humanity housing projects in the United Kingdom. The bulk of the grant program is managed through a partnership with Community Foundation Silicon Valley with Adobe directly managing its community investments in Canada.
"Despite a tough economic climate, companies like Adobe have continued to help public benefit organizations sustain themselves in meeting the needs of the community," said Peter Hero, president of Community Foundation Silicon Valley. "Our partnership with Adobe helps us to build a stronger local community through investments in both immediate needs and the longer-term health of the region."
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