CarMax 2008 Annual Report Download - page 12

Download and view the complete annual report

Please find page 12 of the 2008 CarMax annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 85

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85

12 | CARMAX 2008
Inside CarMax, we reward associates
whose behavior exemplifies our culture
with awards such as our monthly “Above
and Beyond” and “Champion of the Quar-
ter.” Associates are nominated by their
peers for behaviors ranging from “going
the extra mile” for a customer to literally
saving lives. These awards are highly cov-
eted by all associates and are viewed as
examples of the very best that can come
from the unique CarMax culture.
In addition to the awards from
Fortune, CarMax was awarded the Council
of Better Business Bureaus’ 2008 Interna-
tional Torch Award for Marketplace Excellence. This well-respected organization
recognizes businesses that demonstrate high ethical standards of behavior toward
customers, employees, shareholders and communities, and CarMax was pleased and
honored to win this award for the first time. CarMax has also won more than 10
Torch Awards in local markets. CarMax was also named to the 2008 Center for
Companies that Care Honor Roll, which recognizes organizations that demonstrate
exceptional commitment to their workplace and community.
OUR UNIQUE
COMPANY CULTURE
AND THE DEDICATION
OF OUR ASSOCIATES
ARE WHAT TRULY
SET CARMAX APART.
LOCAL BLOOD DRIVES GIVE OUR
ASSOCIATES THE OPPORTUNITY TO
SHARE THE GIFT OF LIFE.
GRANTS FROM CARMAX AND THE
FOUNDATION FACILITATED A SUMMER
BASKETBALL LEAGUE FOR RICHMOND
INNER-CITY YOUTH IN FISCAL 2008.
ASSOCIATES PARTICIPATE IN A VARIETY
OF VOLUNTEER ACTIVITIES, INCLUDING
THE SALVATION ARMY ANGEL TREE.
The CarMax Foundation represents our commitment to giving back to our
communities and CarMax gives a portion of pre-tax profits—$3 million in fiscal
2008—to the Foundation each year. The Foundation has made more than $5.2 mil-
lion in grants to nonprofit organizations since it was established in 2003.
At the national level, the Foundation supports organizations promoting driver
and passenger safety, including, in fiscal 2008, Mothers Against Drunk Driving
(MADD); Driver’s Edge, a young driver education program; and the WTI Founda-
tion, which supports vehicle technician training.
This past year, the CarMax Foundation launched a new Regional Giving
Program that allows each of our seven regions to make grants of $100,000 to non-
profit organization of their choice. Committees of store associates in each region
chose local organizations to support, generally focused on youth leadership and
education, examples of which included the Boys & Girls Club, the YMCA, Youth
on Their Own, the Girl Scouts and Big Brothers, Big Sisters.
The Foundation also supports our associates in their individual giving by offer-
ing a Matching Gifts Program. The Foundation matches up to $5,000 annually per
associate for contributions made to qualifying charitable organizations either in cash
or for time our associates donate, individually or through team-building activities
with other associates.
COMMITMENT