Sam Walton Philanthropy
Samuel Moore Walton is a man whose legacy will live long after him. The retailing mogul, who created the World’s Largest Retailer ($374.526 billion in sales, fiscal year ending January 31, 2008), Wal-Mart, has operations with various business models from neighborhood markets, discount stores and supercenters. Internationally, it employs over 2 million associates to cover its 4,100 branches in the United States as well as over 3,100 facilities in other countries such as Canada, China, Honduras, Japan, Mexico, and United Kingdom among others.
The company that the legend built also holds the title of being the Largest Corporate Cash Contributor in America as recognized by the Chronicle of Philanthropy.
Sam Walton was born in Kingfisher, Oklahoma in the year 1918. He passed away in 1992, and in his passing, left the distinction of having accumulated the largest American family fortune.
In his autobiography, Made in America: My Story, Sam Walton’s own ideals are clearly shown to have shaped the culture of giving across all his businesses and relations. He wrote about how important it was to encourage ordinary people to do extraordinary things. This is philanthropy at its truest core.
In 1987, upon his wife Helen’s encouragement, he put in $1,000 for his family foundation. Upon his death, he bequeathed a trust fund valued at $172 million exclusively for this institution. Wal-Mart Foundations and The Walton Family Foundation are the pioneer organizations, while there are also quite a number of philanthropic commitments that his family has established over the years.
• Sam Walton and his entire family have been the consistent guardians of advocacies for education. One recipient is the Knowledge for Power Program, geared toward public education and exploring financing alternatives for the sector.
• The Walton Family Foundation provides support through PRIs/loans, scholarships to deserving individuals, program and curriculum development, as well as technical assistance.
• Among the highest aid Sam Walton and his empire provided are:
• $3,000,000 – Blue Ridge School in Dyke, Virginia
• $1,177,709 – Center for Education Reform, Washington DC
• $1,270,304 – the International Community Foundation San Diego, California
• $500,000 – National Center for Educational Accountability, Austin, Texas
• $421,500 – Minnesota Association of Charter Schools
• A report by The National Committee for Responsive Philanthropy highlighted how the financial donations of the Waltons have indeed become greater than their monetary value as they continue to change the lives of thousands. BusinessWeek named the Walton Family as one of The 50 Top American Givers in 2008.
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