Triangle Community Foundation Announces iContact Foundation Scholarship Fund

July 17, 2012

Durham, N.C. – Triangle Community Foundation today announced the creation of the iContact Foundation Scholarship Fund, which will offer competitive scholarships for children of people employed by iContact from its creation in 2003 through the sale of the company in February 2012. iContact co-founders Ryan Allis and Aaron Houghton made a personal $1.2 million gift to create the Scholarship Fund this month.

“iContact is a legendary local success story as well as a leader in corporate social responsibility,” said Lori O’Keefe, Vice President for Philanthropic Services and Chief Operating Officer of Triangle Community Foundation (TCF). “We are honored to partner with Ryan Allis and Aaron Houghton to provide educational opportunities based on financial need, academic merit, and community involvement and leadership potential – values that each of us care very much about,” she said.

The scholarship opportunity is available to biological, adopted, step, or foster children of employees who worked at iContact during the designated timeframe. The competitive scholarship program is open to students pursuing full-time post-secondary education in two- or four-year degree programs at any accredited college, university, community college, or trade school. Applications for the iContact Foundation Scholarship Fund are available on the TCF website at www.trianglecf.org.

Ryan Allis, former CEO of iContact commented, “Building iContact over the past nine years has been one of the great pleasures of my life. As young co-founders, Aaron and I were fortunate to have found so many caring and highly competent people to surround ourselves with. Setting up this scholarship fund for the children of those iContact employees is the least we can do to send a huge and heartfelt thank you to those who helped build the company.”

Aaron Houghton, Co-founder and Chairman, said “The North Carolina community was supportive of Ryan’s and my big dreams from day one through the sale of the company earlier this year. We’re excited to be able to give back to those supporters, friends, and partners who made such a difference for us along the way. It gives me great joy to think that our scholarships might help just a few children and families reach further than they ever dreamed was possible.”

All iContact team members are invited to a kick-off event for the iContact Foundation Scholarship Fund on Monday, July 23 from 12pm to 1:30pm at the Hyatt House in Morrisville, 10962 Chapel Hill Road (at the corner of Perimeter Park).

Triangle Community Foundation currently manages 49 scholarship funds and annually awards an average of $500k through 100-plus awards as part of its mission to create positive change through community-based philanthropy.

Scholarship applicants will be reviewed and selected by TCF’s scholarship committee, with individual awards ranging from $1,000 to $10,000 each year. The first scholarships will be awarded later this year and the iContact Foundation Scholarship Fund will continue awarding scholarships annually for the next forty years.

In February 2012, iContact was acquired by Vocus, Inc., the Maryland-based developer of marketing and public relations software. iContact was founded in Chapel Hill by Ryan Allis and Aaron Houghton in 2003 while they were students at the University of North Carolina, and has since grown to become the largest private provider of email marketing services to small and medium-sized businesses around the world.

Triangle Community Foundation is a nonprofit charity that manages $145 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 currently manages over 750 funds, ranging in size from $10,000 to $10 million, primarily for the benefit of Wake, Durham, Orange and Chatham counties. During the 2010-11 fiscal year, the Foundation granted more than $14 million to nonprofits, schools and community efforts. For more information, visit www.trianglecf.org.