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2 Years : From May 2011 to May 2013
CarMax, Inc. (NYSE: KMX), the nation’s largest retailer of used cars,
announced today that The
CarMax Foundation granted more than $2.4 million to nonprofits in
the fiscal year that ended on February 29, which is the largest annual
donation since its inception in 2003. Our largest grant total before
this was $2.2 million in 2008.
The CarMax Foundation’s funding
programs assist causes that are important to the company’s 16,000
associates across the country. Nearly $700,000 in grants supported
associate team volunteer
projects and board service, and The CarMax Foundation also matches
associate volunteer hours and personal financial donations dollar for
dollar. A record-breaking 355 CarMax teams volunteered over the past
year with local nonprofits in projects that included reading to
children, serving meals to the homeless, helping out with summer camp
activities, assisting with home building projects, and making
improvements to locations damaged by tornados. The grant total given
through our Volunteer
Team-Builder program for the year was a 187 percent increase over
the last fiscal year.
“CarMax associates have such passion for those in their communities,
including the needy, children battling the odds, animals waiting on
homes, and those fighting disease,” said Lynn Mussatt, president of The
CarMax Foundation and vice president of business operations. “The CarMax
Foundation is led by these passions in our giving, and these grants are
as diverse as our associates. We aim to continue to grow our associate
engagement through recognition programs and working with each of our
stores on volunteer team-builders.”
CarMax teams also participated in more than 60 charity walks over the
last year. Wellness is a new initiative supported by The CarMax
Foundation and associates have embraced it as they focus on causes that
have impacted their families and co-workers.
Grants that focus on education, youth leadership and wellness totaled
more than $1.45 million, and $250,000 was given through a program that
supports cultural enrichment organizations across the U.S., such as
museums, zoos, and libraries. Each grant is given at the recommendation
of local associates.
The CarMax Foundation reached a $10 million milestone in giving in the
fall of 2011, and now exceeds $12 million in grants since inception.
About The CarMax Foundation
The CarMax Foundation is designed to enrich the communities where our
associates live and work and has donated more than $12 million since
2003. Funding programs are made available through a portion of CarMax,
Inc.’s pre-tax profits from the prior years. CarMax, a member of the
FORTUNE 500 and the S&P 500, and one of the FORTUNE 2012
“100 Best Companies to Work For,” is the nation’s largest retailer of
used cars. Headquartered in Richmond, Va., CarMax currently operates 109
used car superstores in 54 markets. The CarMax consumer offer is
structured around four customer benefits: low, no-haggle prices; a broad
selection; high quality vehicles; and customer-friendly service. During
the twelve months ended February 29, 2012, the company retailed 408,080
used cars and sold 316,649 wholesale vehicles at our in-store auctions.
For more information on The CarMax Foundation, visit http://www.carmaxcares.com.