Wal-Mart Invests $3 million in Hispanic Scholarship Fund
Grant Will Support College Education Dream for Hispanic Students
Bentonville, Ark., October 2006–The Hispanic Scholarship Fund (HSF), the nation’s leading organization supporting Hispanic higher education, announced that the Wal-Mart Foundation has provided a $3 million, multi-year grant to help finance scholarships for Latino students. The initial check was presented in Bentonville, Arkansas during a meeting between the President and CEO of Wal-Mart Stores, USA Eduardo Castro-Wright and HSF leadership.
“We greatly appreciate Wal-Mart’s investment in the future of our Hispanic youth by providing such a generous grant to the Hispanic Scholarship Fund,” said Christopher E. Jones, HSF Chief Operating Officer. “This investment, coupled with Wal-Mart’s decision to designate HSF as one of their ten charities of choice for their Associated Giving Campaigns, demonstrates the strength of the partnership we have developed.” The monies will be earmarked to assist Hispanic youth pursue the American dream of a college education.
Jones also welcomed Castro-Wright to the Hispanic Scholarship Fund (HSF) Board of Directors, a position he recently accepted. He said his leadership will help strengthen HSF in a period of transition, since Tucker will be leaving HSF in October.
“At Wal-Mart, we firmly believe there are few things more important than education and we make it a priority to contribute to the educational growth of our associates and the people in the communities we serve,” said Castro Wright. “We are proud to support the Hispanic Scholarship Fund and to help provide young people with an opportunity to make their dreams come true.”
The ceremony where the initial check was presented was also attended by Raul Romero, Secretary of the Board of Directors of HSF and President and CEO of Alliance Consulting Group, and James McNamara, HSF board member and President and CEO of Panamax Films.
Wal-Mart is one of the largest corporate supporters of teachers and education. Last year alone, the company contributed more than $45 million in support of educational initiatives. At the local level, each of our stores also show their commitment to education by providing grants that help support local schools, YMCA and other youth-oriented programs.
Wal-Mart’s commitment to the Hispanic community is reflected at all levels of the company. There are two high profile Hispanics on the company’s 13-member corporate Board of Directors. The company employs more than 150,000 Hispanic associates, and works with more than 750 U.S. based, Hispanic-owned suppliers, representing more than $1.1 billion in business.
About Wal-Mart Stores, Inc.
(NYSE: WMT) operates Wal-Mart discount stores, supercenters, Neighborhood Markets and SAM'S CLUB locations in the United States. The company has operations in Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Germany, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico, South Korea and the United Kingdom. The company's securities are listed on the New York Stock Exchange and NYSE Arca, formerly the Pacific Stock Exchange, under the symbol WMT. More information about Wal-Mart can be found by visiting www.walmartfacts.com. Online merchandise sales are available at www.walmart.com.
About the Hispanic Scholarship Fund
The Hispanic Scholarship Fund (HSF) is the nation’s leading organization supporting Hispanic higher education. Founded in 1975, HSF’s vision is to strengthen the country by advancing college education among Hispanic Americans, the largest minority segment of the U.S. population. In support of its mission to double the rate of Hispanics earning college degrees, HSF, a 501(c)3 not-for profit organization, provides the Latino community more college scholarships and educational outreach support than any other organization in the country. During its 31-year history, HSF has awarded more than 78,000 scholarships totaling in excess of $195 million to Latinos from all 50 states, Puerto Rico, the U.S. Virgin Islands and Guam who have attended more than 1,700 colleges and universities.