Can Corporate Sustainability & Economic Growth Coexist?
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Submitted by: Wal-Mart Stores, Inc.
Categories: Philanthropy & Corporate Contributions
Posted: May 23, 2000 – 12:00 AM EST
Thousands of outstanding teachers and high school seniors are putting on a happy face -- and not just because summer break is around the corner. Thanks to Wal-Mart Stores, Inc. (NYSE: WMT) teachers will be appreciated for excellence in education and students will have financial relief from the rising costs of a college education. Wal-Mart is awarding 6,000 grants and scholarships to graduating high school seniors, making a contribution of $10.9 million to education.
The Teacher of the Year program recognizes America's teachers who continuously strive to improve the education of our youth. Each year associates from each Wal-Mart store, SAM'S Club, distribution center and transportation office select an outstanding teacher and award a $500 grant to his or her school.
This year, the program will honor 3,000 teachers who distinguish themselves as mentors, motivators and innovators in education. More than $1.5 million will be awarded to schools and school districts nationwide in honor of teachers. Since the program began in 1996, Wal-Mart has saluted more than 10,700 Teachers of the Year, contributing $5.1 million in education grants.
Three thousand high school seniors will receives scholarships, totaling more than $8.4 million, for their high academic achievement, participation in school, work and community activities. The scholarships are awarded through numerous programs offered by Wal-Mart stores, the Wal-Mart Foundation and the Walton Family Foundation.
The scholarships are being awarded through the following programs:
250 Competitive Edge Scholarships, established in 1992 to help students pursue careers in fields vital to America's long-term economic growth - engineering, computer science, and technology-related fields. Every year, 250 of these $20,000, 4-year scholarships are awarded through more than 130 colleges and universities.
100 Walton Foundation Scholarships, $6,000 scholarships payable over 4 years to high school seniors who are the children of Wal-Mart associates. Since the program's inception in 1975, this fund has contributed nearly $6 million.
208 Wal-Mart Associate Scholarships, $1,000 scholarships awarded to Wal-Mart associates or children of qualifying associates. Since 1983, these scholarships have been given to more than 2,000 associates and totaled more than $2 million. Selection is determined on academic performance and involvement in school and community activities.
2,400 Sam Walton Community Scholarships. Wal-Mart stores annually award $1,000 scholarships to more than 2,400 qualifying local high school seniors. More than $25.6 million in such scholarships have been awarded since the program began in 1981. Annual giving is now $2 million.
More than 20 Distribution Center Scholarships, $2,500 scholarships payable over 4 years for qualified associates of Wal-Mart distribution centers and transportation offices. Each facility selects two recipients annually.
Pharmacy Scholarships. During 1999, Wal-Mart awarded 81 scholarships worth $1,000 each to students at pharmacy schools throughout the nation. Since the inception of the scholarship in 1990, Wal-Mart has awarded $575,000 to pharmacy students nationwide.
As the nation's largest employer of Hispanics and African-Americans, Wal-Mart also is committed to working with several national organizations and scholarship programs to help qualified minority students pursue higher education. Some of these programs include:
The College Fund/UNCF. Wal-Mart contributed more than $1 million over the last 5 years.
Thurgood Marshall Scholarship Fund. Wal-Mart has provided $100,000 in scholarships.
League of United Latin American Citizens, a $10,000 per year scholarship commitment to LULAC's educational programs.
Hispanic Association of Colleges and Universities, an annual commitment of $50,000 granted for scholarships to students at five universities.
Wal-Mart Stores, Inc. empowers its associates to serve the needs of their communities through its "Good Works" initiative. As part of this initiative, Wal-Mart invests in the future success of America through a variety of educational opportunities for students, teachers and associates, including scholarships, internships, school-to-career programs and Teacher of the Year awards. Last year, associates of the company's 3,000 Wal-Mart stores, SAM'S Clubs and distribution centers raised and donated more than $160 million to charitable organizations nationwide. For more information about Wal-Mart's Good Works efforts, visit www.walmartfoundation.org.
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