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CarMax Foundation makes record donations

Friday - 4/20/2012, 4:35pm  ET

RICHMOND, Va. - Used car dealership chain CarMax says its foundation made its largest amount of donations in its last fiscal year since its inception in 2003.

The Richmond-based company says the CarMax Foundation granted more than $2.4 million to nonprofits in the fiscal year that ended on February 29. The largest previous grant total was $2.2 million in 2008.

CarMax says the foundation funds various programs that are important to the company's 16,000 associates, including programs that focus on education, youth leadership and wellness. It also matches associate volunteer hours and personal financial donations dollar for dollar.

The CarMax Foundation reached a $10 million milestone in giving in the fall of 2011 and now exceeds $12 million in grants since inception.

CarMax operates more than 105 stores in 54 markets.


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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