11/12/2002 - Cadence Design Systems, the world's leading supplier of electronic design products and services, announced that $969,000 was raised at the Cadence-underwritten annual Stars & StrikesTM bowling fund-raiser. Proceeds from the event will assist InnVision, a leading public benefit corporation that provides housing and comprehensive services for homeless individuals and families in Silicon Valley.
More than 150 Silicon Valley companies supported this year's Stars and Strikes program, which counts on corporate sponsorships for the bulk of its contributions. Thirty-seven of the contributing companies took part in the program's event - a silent auction and bowling competition that matched corporate executives with members of the San Jose Sharks ice hockey team. Entirely underwritten by Cadence, the Stars and Strikes program has raised more than $4.5 million since its 1990 inception.
"I am so impressed that at a time when we are hearing about decreased corporate giving, so many Silicon Valley companies have joined together to support this year's Cadence Stars and Strikes' beneficiaries," said Cadence President and CEO Ray Bingham. "InnVision's Georgia Travis Center and The Sharks Foundation's programs are crucial to the well-being of our community and I am proud that Cadence and our fellow sponsors have once again exceeded our fund-raising goals to support them. We are also indebted to the San Jose Sharks for their generous support of today's event."
Highlights of this year's event, which concluded months of concerted fund-raising efforts, included a silent auction of donated items, such as autographed sports memorabilia and vacation getaways. In closing ceremonies, Cadence's Bingham was joined by San Jose Councilwoman Cindy Chavez and Santa Clara County Supervisor, Pete McHugh to present checks to InnVision and The Sharks Foundation.
"InnVision would like to thank Cadence and all the Stars and Strikes sponsors," said Christine Burroughs, CEO at InnVision. "Their generosity will have a huge impact on the lives of the 5000-plus women and children who rely on the Georgia Travis Center each year."
"The Sharks Foundation is pleased to be a part of the Cadence Stars and Strikes program for the third year in a row," said Sharks Foundation President and CEO Greg Jamison. "We are pleased to be working with these fine organizations to help make a positive impact in our community."
InnVision has been serving the poor and homeless in Santa Clara County since 1973 and now serves more than 14,000 individuals annually at 17 sites. The agency addresses the multiple needs of people in transition, including emergency shelter, transitional housing, food, clothing, showers, laundry, healthcare, job training, classes and access to telephones and computers. Its shelters, called "Inns," enforce a drug and alcohol-free environment and focus on self-help activities.
About The Sharks Foundation
The Sharks Foundation, the non-profit branch of the San Jose Sharks, is dedicated to meeting the educational, social and cultural needs of our community. It offers unique resources and financial support to those organizations that enhance the lives of local youth. Although the San Jose Sharks and The Sharks Foundation support a variety of community programs on various levels, they feel that the key to long-term well-being of the community is its youth.
Cadence is the world's largest supplier of electronic design technologies and services. Leading computer, networking, wireless, and consumer electronics companies use the company's solutions to design electronic systems and semiconductors down to nanometer scale. IEEE, the world's largest technical professional society, honored Cadence with its 2002 Corporate Innovation Recognition award. With approximately 5,600 employees and 2001 revenues of approximately $1.4 billion, Cadence has sales offices, design centers, and research facilities around the world. The company is headquartered in San Jose, Calif., and traded on the New York Stock Exchange under the symbol CDN.
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