CarMax 2010 Annual Report Download - page 10
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8 CarMax 2010
CarMax Cares
Integral to the CarMax culture is a commitment to the
communities where our associates live and work. In 2003,
we formed The CarMax Foundation, to which CarMax
gives a portion of our pre-tax profits each year. The
Foundation has made more than $7.7 million in grants to
non-profit organizations since it was established, includ-
ing $1.1 million in fiscal 2010. The Foundation’s primary
mission is to support organizations that promote youth
leadership, children and family education.
A large portion of the Foundation’s funds are donated
through the Regional Giving Program that allocates up to
$100,000 per year to each of our eight regions. Associates
in each region
determine which
local charities
will receive these
funds. “The
Regional Giving
Program is mak-
ing a difference
in our communi-
ties,” said Sharon
Handley, Manager
of The CarMax
Foundation. “The
program gives
CarMax another
way to extend
our community
reach and offers
all associates a
chance to make
recommendations.”
The largest grant
recipients dur-
ing fiscal 2010
included the
Boys and Girls
Club, through many of its local organizations, as well as
organizations supporting after-school programs, summer
educational camps, and career-readiness programs. The
Foundation also donated more than $140,000 towards
Haiti relief.
Perhaps nowhere is the CarMax commitment more evident
than in the dedication of our associates to volunteering in
our communities. This volunteerism often takes the form
of departmental “team-builders” where associates can
accomplish two objectives: give back to the community
and develop stronger relationships with colleagues outside
of the work setting. CarMax supports these events with
approved time away from work and in matching dollars.
Fiscal 2010 was a record year, with a total of approximately
140 events, half of which took place during June, desig-
nated every year as CarMax Cares Month.
CarMax teams volunteered at a variety of organizations
including several local Boys & Girls Clubs, food banks,
animal shelters, special needs organizations, homeless
shelters and others. “One of the reasons I enjoy work-
ing at CarMax is because of the strong focus on helping
those in need,” said Natasha Garrett, Senior Buyer at
our Ellicott City,
Maryland store.
“Supporting the
communities
where we live and
work has become
a basic element
of the CarMax
culture.”
The Foundation
also supports asso-
ciates in their indi-
vidual giving by
offering a Matching
Gifts Program,
which matches up
to $5,000 annually
per associate
for contributions
made to qualify-
ing charitable
organizations—
either in cash or
volunteer hours.
Companywide,
CarMax matched
nearly $200,000 in associate gifts during fiscal 2010.
CarMax Cares about our associates as well. The CarMax
culture prescribes mutual respect among all associates and
celebrates diversity of all kinds. CarMax fosters a positive
and relaxed work environment where associates work hard
but still maintain a healthy work-life balance. Associate
wellness programs have been an increasing corporate focus
including smoking cessation, weight loss and employee
assistance programs, as well as fun activities such as well-
ness fairs, weight loss competitions and race training teams.