RICHMOND, Va. -

After revealing it enjoyed double-digit growth this past fiscal year, CarMax announced this week that  its associate volunteer association The CarMax Foundation granted more than $2.4 million to nonprofits in the fiscal year that ended on Feb. 29.

This marks the largest annual donation since its inception in 2003. “Our largest grant total before this was $2.2 million in 2008,” the company noted.

Commenting on the news, Lynn Mussatt, president of the CarMax Foundation and vice president of business operations, said, “CarMax associates have such passion for those in their communities, including the needy, children battling the odds, animals waiting on homes and those fighting disease.

“The CarMax Foundation is led by these passions in our giving, and these grants are as diverse as our associates. We aim to continue to grow our associate engagement through recognition programs and working with each of our stores on volunteer team-builders,” Mussatt continued.

Breaking it down by category, the CarMax Foundation sponsored grants that focus on education, youth leadership and wellness that totaled more than $1.45 million, and $250,000 was given through a program that supports cultural enrichment organizations across the U.S., such as museums, zoos and libraries.

Each grant is given at the recommendation of local associates, the company noted.

That said, the CarMax Foundation reached a $10 million milestone in giving in the fall of 2011, and now exceeds $12 million in grants since inception.

“The CarMax Foundation’s funding programs assist causes that are important to the company’s 16,000 associates across the country,” the company explained.

And “nearly $700,000 in grants supported associate team volunteer projects and board service, and The CarMax Foundation also matches associate volunteer hours and personal financial donations dollar for dollar,” officials continued.

Moreover, 355 CarMax teams volunteered over the past year with local nonprofits in projects that included reading to children, serving meals to the homeless, helping out with summer camp activities, assisting with home building projects and making improvements to locations damaged by tornados, the company shared.

And that’s not all. CarMax teams also participated in more than 60 charity walks over the last year.

“Wellness is a new initiative supported by The CarMax Foundation and associates have embraced it as they focus on causes that have impacted their families and co-workers,” the company concluded.