CARY, N.C., Nov. 12, 2013 (GLOBE NEWSWIRE) -- SciQuest, Inc. (Nasdaq:SQI), a leading provider of cloud-based business automation solutions for spend management, today unveiled the latest endeavors from its SciQuest Charitable Fund. The latest round of donations supports organizations focused on strengthening local youth and young adults in crisis, as well as helping the homeless. SciQuest, working with the Triangle Community Foundation, created the fund in 2011.
Twice a year, the SciQuest Charitable Fund makes donations focusing on both national and regional 501c3 organizations. In addition to supporting local North Carolina charities, SciQuest also selects a charity near one of its other locations to support.
This year's recipients include:
- The Hope Center at Pullen, the only non-profit organization in Wake County solely dedicated to serving the needs of young people transitioning out of foster care. The Hope Center at Pullen works with young adults between the ages of 18-25 who are either transitioning out of foster care or who have spent time in foster care during their lives. The Hope Center at Pullen becomes the new hub of services and support for these young adults. Its approach with participants who are on the fringe of being homeless or other participants, who are already homeless, is to integrate housing support with other services. Staff works closely with each client to determine what other resources might be at their disposal to meet any gaps and to determine the type of assistance that is most likely to put the individual on the path toward self-sufficiency.
- Bissell Centre, a Housing First organization that houses 240 chronically homeless people per year throughout the Edmonton, Alberta, Canada community and provides extensive support to help these individuals sustain their housing. The Bissell Centre's mission is to work with others to empower people to move from poverty to prosperity. They enable people to meet their own basic daily needs, participate in community, have sustainable livelihoods, feel hope for the future and make plans for a prosperous life.
- Triangle Family Services (TFS), Emergency Housing Assistance Program provides emergency housing assistance to families living in Wake County whose income is 40 percent or below area median income, and who are at imminent risk of becoming homeless or are currently homeless. TFS meets the needs of hundreds of Wake County women, children and families in housing crisis through a unique combination of direct emergency housing assistance, professional case management and financial literacy education for families. It provides the only service in Wake County that focuses primarily on homeless prevention and rapid re-housing of individuals and families.
In addition to SciQuest's charitable giving, the company has also been involved with Habitat for Humanity of Wake County, where dozens of employees have contributed their time over the past several months. Habitat for Humanity of Wake County builds safe, affordable houses for qualified homebuyers, which are sold for no profit to the partner family who repays an affordable mortgage over 20 years. Homeowners attend a series of workshops on financial literacy and home maintenance so they are well prepared to be homeowners.
"Giving back is in our company's DNA, and we take our responsibilities as a member of the local and global community very seriously," said Stephen Wiehe, president and CEO of SciQuest. "The organizations we work with through the SciQuest Charitable Fund are dedicated to empowering and improving the lives of the people they come in contact with. We are honored to be able to support their efforts."
About Triangle Community Foundation
Triangle Community Foundation is a nonprofit that manages over $160 million in funds established by families, businesses, individuals, and organizations. From these funds, it makes grants to nonprofit organizations and administers a variety of programs for the community's benefit. The Foundation manages over 790 funds, ranging in size from $10,000 to $7 million, mainly for the benefit of Wake, Durham, Orange and Chatham counties. During the 2012-2013 fiscal year, the Foundation granted more than $13 million to nonprofits, schools and community efforts.
SciQuest (Nasdaq:SQI) is the largest publicly held pure-play provider of cloud-based business automation solutions for spend management – offering deep domain knowledge and a leading, customer-driven portfolio. SciQuest solutions enable greater visibility and compliance organization-wide to help you gain control, optimize efficiencies and reduce spend. These cloud-based solutions are easier to implement and proven to deliver measurable, sustainable value with SciQuest's high-touch support, analysis and automation. Learn more about our solutions and how we can help your organization turn spending into savings at www.sciquest.com.
Cautionary Note Regarding Forward-Looking Statements
Any statements in this release that are not historical or current facts are forward-looking statements. All forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Certain of these risks are discussed in "Part I, Item 1A, Risk Factors" and elsewhere in SciQuest's most recent Annual Report on Form 10-K and other reports, as filed with the United States Securities and Exchange Commission ("SEC"). The company's SEC reports are available free of charge on the SEC's website at http://www.sec.gov or on the company's website at www.sciquest.com. These forward-looking statements speak only as of the date hereof, and SciQuest undertakes no obligation to update, amend or clarify any forward-looking statement for any reason. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.
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