ICF Awarded $100 Million in Head Start Contracts

Rhea-AI Summary

ICF (NASDAQ: ICFI) was awarded one new and four re-compete contracts valued at over $100 million by the U.S. Department of Health and Human Services for Head Start programs across 18 states and the District of Columbia. The contracts have a term of five years, including an 11-month base period and four 12-month options. ICF will provide training and technical assistance to enhance services for low-income families and improve school readiness for children under 5. ICF has been involved with Head Start for over 15 years, supporting programs across 37 states and 175 tribes.

Positive

• Awarded contracts worth over $100 million, enhancing revenue potential.
• Long-term contracts (5 years) ensure stable income for ICF.
• Strengthens ICF's ongoing relationship with government agencies, potentially leading to future opportunities.

Negative

• None.

FAIRFAX, Va., Sept. 10, 2020 /PRNewswire/ -- ICF (NASDAQ: ICFI), a global consulting and digital services provider, was recently awarded one new and four re-compete contracts to support Head Start programs across 18 states and the District of Columbia. The contracts, which were awarded by the U.S. Department of Health and Human Services, Administration for Children and Families, have a total combined value of over $100 million and each has a term of five years, including one 11-month base and four 12-month options.

Under the contracts, ICF will provide training and technical assistance to improve services to Head Start grantees to enable them to promote school readiness of children under 5 from low-income families. Created 50 years ago, Head Start is the national commitment to give every child, regardless of circumstances at birth, an opportunity to succeed in school and in life. ICF has supported Head Start programs for more than 15 of those years, providing training and technical assistance to five regions across the country, including 37 states and 175 tribes.

"Head Start helps the most vulnerable children and families break the poverty cycle so they can become successful and thrive," said Mark Lee, ICF senior vice president and public sector lead. "The services and capacity our team builds with Head Start improve the lives of thousands of children and their families. By creating equity for our nation's most vulnerable, we're truly fulfilling our shared purpose to build a more prosperous and resilient world for all."

ICF works with governments and nonprofits to help strengthen communities, families and citizens by delivering evidence-based solutions with measurable impact. This includes providing program and policy services designed to enable positive student and teacher outcomes in early childhood, K-12, postsecondary and adult education.

Read more about ICF's social programs and education services.

About ICF
ICF is a global consulting services company with over 7,000 full- and part-time employees, but we are not your typical consultants. At ICF, business analysts and policy specialists work together with digital strategists, data scientists and creatives. We combine unmatched industry expertise with cutting-edge engagement capabilities to help organizations solve their most complex challenges. Since 1969, public and private sector clients have worked with ICF to navigate change and shape the future. Learn more at icf.com.

Caution Concerning Forward-looking Statements
Statements that are not historical facts and involve known and unknown risks and uncertainties are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such statements may concern our current expectations about our future results, plans, operations and prospects and involve certain risks, including those related to the government contracting industry generally; our particular business, including our dependence on contracts with U.S. federal government agencies; our ability to acquire and successfully integrate businesses; and the effects of the novel coronavirus disease (COVID-19) and related federal, state and local government actions and reactions on the health of our staff and that of our clients, the continuity of our and our clients' operations, our results of operations and our outlook. These and other factors that could cause our actual results to differ from those indicated in forward-looking statements THAT are included in the "Risk Factors" section of our securities filings with the Securities and Exchange Commission. The forward-looking statements included herein are only made as of the date hereof, and we specifically disclaim any obligation to update these statements in the future.

Contact: Lauren Dyke, lauren.dyke@ICF.com, +1.571.373.5577

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SOURCE ICF

FAQ

What contracts were awarded to ICF on September 10, 2020?

ICF was awarded one new and four re-compete contracts valued at over $100 million for Head Start programs.

What is the duration of the contracts awarded to ICF?

The contracts have a term of five years, consisting of an 11-month base period and four 12-month options.

How will ICF support Head Start programs?

ICF will provide training and technical assistance to improve services and promote school readiness for children from low-income families.

Which states benefit from the contracts received by ICF?

The contracts support Head Start programs across 18 states and the District of Columbia.

How long has ICF been involved with Head Start programs?

ICF has supported Head Start programs for over 15 years, providing services in 37 states and to 175 tribes.