Science Applications International Corp. (SAIC) - Get Report today announced the establishment of the SAIC Charitable Foundation, an IRS §501(c)(3) organization to assist employees and their dependents by providing emergency funds to assist them when financial hardships arise.
The foundation will accept donations from SAIC, its board of directors, shareholders, employees, retirees, the public, and other company stakeholders worldwide, in order to provide a safety net for SAIC employees. Its immediate focus will be to ensure employees and their families are able to weather complications related to the COVID-19 pandemic or other disaster-related emergencies.
"The SAIC Charitable Foundation represents the next step in our company's ongoing actions to provide for our colleagues during this unprecedented and challenging time," said Amy Rall, senior vice president of SAIC's Homeland and Justice Business Unit and president of the SAIC Charitable Foundation. "We are committed to our employees, which include a focus on their health and safety so that we can continue to effectively serve our government customers and our nation."
Since the onset of the COVID-19 pandemic, SAIC and its employees have supported local food banks, donated paid leave hours, and created and provided personal protective equipment to first responders. This is all in addition to its support for a diverse array of charities and philanthropic organizations serving missions that are core to SAIC's culture of giving, including Feeding America, Share Our Strength/No Kid Hungry, the Leukemia and Lymphoma Society, and Building Homes for Heroes.
SAIC also aligned with the Commonwealth of Virginia as a founding partner on the Virginia Ready Initiative (VA Ready), a newly established nonprofit organization formed in response to the economic hardships created by COVID-19, to help ambitious, out-of-work Virginians gain new skills for in-demand jobs in high-growth sectors. With a focus on minority communities disproportionately impacted by COVID-19, VA Ready is committed to retraining and equipping through various cohort programs in 23 community colleges starting in August.
"I could not be more proud of SAIC's employees who have responded to the COVID-19 pandemic by banding together to provide our colleagues and our communities support to get through this unprecedented and challenging time," said SAIC CEO Nazzic Keene. "Not only are we helping our people and communities in need, we are ensuring our ability to continue to serve our customers and their critical missions."
For more information on the SAIC Charitable Foundation, visit www.saicfoundation.org.
SAIC ® is a premier Fortune 500 ® technology integrator driving our nation's digital transformation. Our robust portfolio of offerings across the defense, space, civilian, and intelligence markets includes secure high-end solutions in engineering, IT modernization, and mission solutions. Using our expertise and understanding of existing and emerging technologies, we integrate the best components from our own portfolio and our partner ecosystem to deliver innovative, effective, and efficient solutions that are critical to achieving our customers' missions.
We are 25,500 strong; driven by mission, united by purpose, and inspired by opportunities. Headquartered in Reston, Virginia, SAIC has pro forma annual revenues of approximately $7.1 billion. For more information, visit saic.com. For ongoing news, please visit our newsroom.
Certain statements in this release contain or are based on "forward-looking" information within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as "expects," "intends," "plans," "anticipates," "believes," "estimates," "guidance," and similar words or phrases. Forward-looking statements in this release may include, among others, estimates of future revenues, operating income, earnings, earnings per share, charges, total contract value, backlog, outstanding shares and cash flows, as well as statements about future dividends, share repurchases and other capital deployment plans. Such statements are not guarantees of future performance and involve risk, uncertainties and assumptions, and actual results may differ materially from the guidance and other forward-looking statements made in this release as a result of various factors. Risks, uncertainties and assumptions that could cause or contribute to these material differences include those discussed in the "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Legal Proceedings" sections of our Annual Report on Form 10-K, as updated in any subsequent Quarterly Reports on Form 10-Q and other filings with the SEC, which may be viewed or obtained through the Investor Relations section of our website at saic.com or on the SEC's website at sec.gov. Due to such risks, uncertainties and assumptions you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. SAIC expressly disclaims any duty to update any forward-looking statement provided in this release to reflect subsequent events, actual results or changes in SAIC's expectations. SAIC also disclaims any duty to comment upon or correct information that may be contained in reports published by investment analysts or others.
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