The CarMax Foundation Doubles Support for Annual #GivingTuesday Campaign to More Than $1 Million

Rhea-AI Summary

CarMax announced a significant expansion of its annual #GivingTuesday initiative, empowering all 27,000+ associates to donate to nonprofits of their choice. Starting November 30, associates receive a $50 electronic “Care Card” to contribute, potentially raising donations to over $1 million, doubling last year's total of $650,000. This initiative builds on last year's success, which supported 6,500 organizations across the U.S. The Care Cards are valid until January 31, 2022, with unredeemed funds directed to the CarMax Associate Disaster Relief Fund.

Positive

• Empowering associates to donate increases community engagement.
• Potential fundraising of over $1 million could enhance corporate reputation.

Negative

• Dependence on associates' participation for meeting funding goals.

Each of CarMax’s 27,000+ associates empowered to donate funds from The CarMax Foundation to a nonprofit they care most about

RICHMOND, VA, Nov. 29, 2021 (GLOBE NEWSWIRE) -- Every year, millions of Americans participate in #GivingTuesday – a day of global giving held on the Tuesday following Black Friday. Today, CarMax, the nation’s largest retailer of used cars, and The CarMax Foundation, announced a major expansion of their annual #GivingTuesday initiative. Starting tomorrow, November 30, The CarMax Foundation is providing all 27,000+ CarMax associates with a $50 credit – or electronic ”Care Card” – to donate to an eligible nonprofit of their choice. With full associate participation in this initiative, the Foundation is positioned to donate more than $1 million to nonprofit organizations across the United States, potentially doubling CarMax’s #GivingTuesday donations from 2020.

This initiative launched last year to help associates give back to their communities when the pandemic limited in-person volunteering. To participate, associates log into the CarMax Associate Giving Portal and designate a nonprofit to receive the funds. This year’s #GivingTuesday campaign builds on last year’s momentum and aims to make an even greater impact by doubling the amount associates are allocated to donate to the nonprofit of their choice. In 2020, The CarMax Foundation donated $650,000 to causes selected by associates, supporting organizations in 1,800 cities across the United States.

“Nonprofits in our communities need support now more than ever and we’re honored to empower associates to give back to the nonprofit that aligns most with their passions for Giving Tuesday,” said Rosey Sanders, President of The CarMax Foundation. “Last year’s initiative was an incredible success, helping 6,500 organizations across the country, and this year associates will double the impact with double the donation from our Foundation.

Each Care Card will be valid for donation through January 31, 2022. Any unredeemed Care Cards will be directed to support the CarMax Associate Disaster Relief Fund.

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About The CarMax Foundation

The CarMax Foundation promotes the causes associates care about to impact the communities where they live and work. Together with CarMax, Inc., the Foundation has donated more than $75 million since 2003. Funding programs are made available through a portion of CarMax, Inc.’s pre-tax profits. CarMax, the nation’s largest retailer of used autos, revolutionized the automotive retail industry by driving integrity, honesty and transparency in every interaction. The company offers a truly personalized experience with the option for customers to do as much, or as little, online and in-store as they want. CarMax also provides a variety of vehicle delivery methods, including home delivery, express pickup and appointments in its stores. During the fiscal year ending February 28, 2021, CarMax sold more than 750,000 used vehicles and more than 425,000 wholesale vehicles at its in-store and virtual auctions. In addition, CarMax Auto Finance originated more than $6 billion in receivables during fiscal year 2021, adding to its near $14 billion portfolio. CarMax has more than 220 stores, 27,000 associates, and is proud to have been recognized for 17 consecutive years as one of the Fortune 100 Best Companies to Work For®. For more information, visit www.carmax.com.

 

 

 

Attachments

• CarMax Cares
• CarMax Cares

FAQ

What is CarMax's #GivingTuesday initiative?

CarMax's #GivingTuesday initiative allows associates to donate $50 to nonprofits of their choice, aiming to raise over $1 million.

How much did CarMax donate last year for #GivingTuesday?

Last year, CarMax donated $650,000 to nonprofits selected by associates during #GivingTuesday.

What is the validity of the Care Cards issued by CarMax?

The Care Cards are valid for donations until January 31, 2022.

How many associates does CarMax have participating in the initiative?

Over 27,000 CarMax associates are participating in this year's #GivingTuesday initiative.