Maker of accounting
and tax preparation software.
2632 Marine Way
Mountain View, CA 94043
CEO: Brad Smith
Stock Symbol: INTU
Intuit Inc. is a leading provider of business
and financial management solutions for small and mid-sized businesses;
financial institutions, including banks and credit unions; consumers
and accounting professionals.
Intuit's flagship products are: Quicken,
QuickBooks and TurboTax. The software helps revolutionize the
way people manage their small businesses and personal finances.
Intuit's lineup of tax preparation products helps individuals
and small business owners easily and accurately do their own
taxes with confidence.
TurboTax lets users file their taxes using software on their computers or via the Internet.
The company has expanded and serves customers in North America, Europe, Singapore and India. Its products have evolved from the desktop to the cloud, with many available both online and for mobile devices.
- Mint.com provides almost 7 million people with a fresh, easy and intelligent way to manage and save money.
- Intuit Health's patient portal is helping more than 4.3 million patients and approximately 49,000 doctors in the United States to easily and securely communicate online.
- Intuit Financial Services makes it easier for 1,900 banks, credit unions and other financial institutions to offer on-demand solutions and services that help some 10.4 million consumers and businesses to manage their money.
- And Intuit India gives people a faster, better way to view all their finances: Intuit Money Manager. We've also launched Fasal, a new service that gives more than 400,000 farmers up-to-date marketing information to help them get the best price for their crops. The innovation and customer-driven focus that inspired these breakthroughs and alliances leads us to expand further, solve larger problems, and bring new products and services to more people and businesses.
In fiscal 2012, Intuit reported revenues of $4.15 billion and net income of $792.0 million.
Intuit was named one of the 100 Best Companies to Work For in America by Fortune magazine for the 12th consecutive year.
Intuit was founded in 1983 by Scott Cook
and Tom Proulx with Quicken personal finance software. The company
went public in 1993.
Significant Company Acquisitions:
1993 - ChipSoft, Inc. (TurboTax
1998 - Lacerte Software Corporation and Lacerte Educational
Services Corporation (Professional tax)
1999 - TaxByte, Inc. (Professional tax)
1999 - Computing Resources, Inc. (Payroll services)
1999 - Compucraft Tax Services, LLC (Professional tax)
1999 - Boston Light Software Corporation (Small business
1999 - SecureTax, Inc. (Professional tax)
1999 - Turning Mill Software, Inc. (Small business services)
1999 - Rock Financial Corporation (Quicken Loans) Business
sold to Quicken Loans management team in August 2002.
2000 - Greenpoint Software Ltd. (Professional tax - Canada)
2000 - EmployeeMatters, Inc. (Employee administration
2001 - Tax and Accounting Software Corporation (Professional
2002 - CBS Employer Services (Payroll services)
2002 - Management Reports Inc. (Property manager solutions)
2002 - Eclipse, Inc. (Wholesale durable goods distributors
management software) Business sold to Activant Solutions in August
2003 - Income Dynamics, Inc (Consumer tax)
2003 - Innovative Merchant Solutions (Small business services)
2005 - MyCorporation.com (Online business incorporation
2006 - StepUp Commerce Inc. (Online shopping services)
2012 - Demandforce. (Online business services)
Employees can choose from several
options, including 2 Consumer Directed plans, HMO type plans,
or Preferred Provider options offered by leading health care
organizations, all with comprehensive networks.
The dental plan offers traditional
coverage with a higher benefit network option.
Intuit's generous vision plan annually
provides for exams, frames, lenses or contacts. Employees can
choose vision coverage under the Vision Service Plan (VSP) or
use the provider of their choice. VSP has the most extensive
network of optometrists and vision care specialists in the country.
Life and accidental death and dismemberment insurance
Intuit's competitive coverage provides a base amount of life
insurance equal to two times base salary or $50,000, whichever
is greater. In addition, employees can "buy up" for
additional levels of coverage up to $2,000,000. They may also
purchase life insurance for a spouse, child or domestic partner
at group rates.
Employee Assistance Program
The Intuit Employee Assistance Program offers confidential
counseling and referrals for personal, family, financial, health
or work-related problems and legal advice to employees and their
enrolled family members.
To help protect employees' income during times when they
can't work, Intuit provides short-term disability insurance (at
70 percent of base salary) and long-term disability insurance
(at 66.67 percent of base salary).
Intuit's 401(k) plan lets employees accumulate savings on
a tax-deferred basis. Through payroll deductions, employees can
direct up to 20% of pretax earnings (up to an IRS annual maximum)
into the Fidelity savings plan. Intuit matches a generous portion
of the employee's contribution amount - 150% of the 1st $1,000
contributed, PLUS 75% of the next 6% of pay, providing you contribute
a minimum of 6%.
Employees ages 50 and older may also contribute
additional catch-up contributions, subject to IRS maximums. Catch-up
contributions are not eligible for the company match. Employees
have 18 investment options, including Fidelity Brokerage Link®
plus Fidelity's lifestyle Freedom Funds. They may enroll, increase,
decrease, change investment funds, transfer funds or discontinue
contributions at any time.
Employee Stock Purchase Plan
Intuit offers eligible employees the opportunity to participate
in its Employee Stock Purchase Plan. Employees can buy Intuit
common stock at 85 percent of market value. Purchase periods
run for three months, four times a year. Open enrollment is held
during February, May, August and November, and employees can
enroll and direct up to 10 percent of taxable income (including
commissions) into the plan via payroll deductions.
Employees receive a mixture of stock units and stock options.
A stock unit is equal to one share of Intuit stock. Once a stock
unit vests, it converts to one share of Intuit stock and is provided
to you with no purchase necessary. Your stock unit grant is 50%
vested after two years and 100% vested after three years.
Intuit gives you the opportunity to share in the company's
success by offering stock options (the right to buy stock in
the company at a specified price). Options are offered to all
regular employees working 20 hours or more per week and vest
over three years
Vacation and Time-Off
Intuit offers eligible employees paid vacations, personal
holidays, and sick leave. Temporary, contract, flex-time and
seasonal employees are not eligible for time off with pay.
Employees who choose to continue their education through
an accredited school may qualify for assistance with books, tuition
and lab fees. Intuit reimburses employees up to $5,000 per year
for job- or career-related courses.
Volunteer time off
Intuit gives eligible employees up to four days (32 hours)
of time off per calendar year to volunteer on approved projects
during regular work hours.
Adoption assistance program
To help offset the cost of adopting a child, Intuit reimburses
up to $3,500 (net) per adoption.
Most Intuit locations have fitness facilities on site. In
addition, employees working 20 hours or more per week are eligible
to receive $350 per fiscal year to help defray the cost of a
gym membership or monthly gym or fitness class fees, such as
yoga or martial arts classes.
Updated May 27, 2013