BENTONVILLE, Ark., July 26, 2006 – Wal-Mart Stores Inc. today announced a $1 million three-year grant to the Congressional Black Caucus Foundation (CBCF) to aid in providing scholarship and internship opportunities for deserving Black scholars. The check presentation was made at a reception honoring Congressman Kendrick B. Meek, the CBCF’s newly-elected chairman.
“Wal-Mart’s generous support of the CBCF’s scholarship and internship programs will help hundreds of promising students further their education and gain practical, hands-on experience in both government and business that wouldn’t ordinarily be possible,” said Congressman Kendrick Meek, CBCF Chairman. “From Capitol Hill to the college classroom, these programs allow us to prepare our future leaders with the tools they need to address the challenges ahead.”
The grant will support the CBCF’s Summer Congressional Internship Program and the Congressional Black Caucus Spouses’ Educational Scholarship, with each receiving $500,000 over three years. Both programs are designed to help support and develop the next generation of global leaders by providing more access and opportunities to deserving students.
“At Wal-Mart, diversity is a way of life,” said Raymond Bracy, vice president of Corporate Affairs for Wal-Mart Stores, Inc. “Our commitment to diversity extends from our board room, beyond the walls of our organization, to the communities we serve. We are honored to partner with the CBCF in this effort to provide well-deserved African American scholars with valuable educational and internship experiences that will help prepare them for future leadership.”
The CBC Spouses Educational Scholarship is a national program that awards scholarships to academically talented and highly motivated students who intend to pursue full-time undergraduate degrees. The program named, “The CBCF and Wal-Mart Strive for Excellence Scholarship Program,” will provide students with the funding needed to realize their dreams of earning a college degree. CBC Members will determine the quantity of the scholarships, but each student will receive at least $1,000 towards his or her education. The funds will be directed to the participant’s institution.
Wal-Mart Stores, Inc. 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.
The Congressional Black Caucus Foundation, Inc. (CBCF) was established in 1976 as a non-partisan, non-profit, public policy, research and educational institute. Our mission is to serve as the non-partisan policy-oriented catalyst that educates future leaders and promotes collaboration among legislators, business leaders, minority-focused organizational leaders, and organized labor to effect positive and sustainable change in the African American community. To that end, CBCF works to broaden and elevate the influence of African Americans in the political, legislative, and public policy arenas.