KAR Auction Services makes $1 million contribution to scholarship program
FEBRUARY 26, 2018 | Carmel, IN
KAR Auction Services, Inc. (NYSE: KAR), a global vehicle remarketing and technology solutions provider, made a $1 million contribution to the Step Up For Students, a Florida-based nonprofit, which administers scholarships for lower-income schoolchildren.
KAR’s financial commitment will fund scholarships for 153 Florida children — giving them more educational options and opportunities.
“We believe in second chances for cars, people and communities — that includes partnering to provide students with quality educational options,” said Jim Hallett, chairman and CEO of KAR. “The state of Florida is home to more than 650 KAR employees as well as countless valued business partners and customers. And we are committed to supporting the communities in which we work and live.”
This is KAR’s first time partnering with Step Up For Students, which helps run the Florida Tax Credit Scholarship Program for financially disadvantaged Florida children. The corporate-funded program gives children assistance with private school tuition or transportation costs for out-of-county public schools. More than 1,700 private schools participate in the program serving nearly 102,000 students during the 2017-18 school year.
“We are excited KAR Auction Services has joined us in our mission to empower Florida families by helping them find the best learning environment for their children,” said Step Up For Students President Doug Tuthill. “Your contribution to the Step Up scholarship program will make a lasting difference in the communities you serve. On behalf of our Step Up families, we thank KAR.”
KAR owns and operates 15 whole-car and salvage auctions in Florida, and provides wholesale automotive services to auto dealers throughout the state. Learn more at www.KARauctionservices.com.
About KAR Auction Services
KAR Auction Services (NYSE: KAR) provides sellers and buyers across the global wholesale used vehicle industry with innovative, technology-driven remarketing solutions. KAR’s unique end-to-end platform supports whole car, salvage, financing, logistics and other ancillary and related services, including the sale of more than 5.1 million units valued at over $40 billion through our auctions. Our integrated physical, online and mobile marketplaces reduce risk, improve transparency and streamline transactions for customers in 110 countries. Headquartered in Carmel, Ind., KAR has approximately 17,600 employees across the United States, Canada, Mexico and the United Kingdom. For more information, go to www.karauctionservices.com. For the latest KAR news, follow us on Twitter @KARSpeaks.
About Step Up For Students
Step Up For Students is a nonprofit organization that helps administer the income-based Florida Tax Credit Scholarship Program. Students who qualify for the national free or reduced-price lunch, or those who are homeless or in foster or out-of-home care, may qualify. The scholarship program provides tuition assistance to the private school of their parents’ choice or financial assistance to offset the transportation cost to an out-of-district public school. Since 2001, Step Up has awarded more than 680,000 scholarships.
A first-of-its-kind study on the long-term effects of the scholarship program by The Urban Institute found that scholarship students are up to 43 percent more likely to go to college and up to 29 percent more likely to earn an associates degree than their peers.
Step Up also helps administer the state-funded Gardiner Scholarship for Florida students with certain special needs. With the Gardiner Scholarship, recipients may use the funds for a variety of approved services including private tutoring, occupational therapy, instructional materials and other services.
For more information, visit: www.StepUpForStudents.org.