Toyota Financial Services donated $60,000 grants to help underserved communities, just in time for Martin Luther King Jr. Day. This gift helped raise awareness of the importance of education in young people in minority groups. Will other firms like BMW and Honda join in?
Toyota Gives Scholarships for Black Students in the US
The car maker is honoring MLK by investing in education. As a result, Toyota Financial Services is supporting Historically Black Colleges and Universities and their communities. The company gave $60,000 grants to the Tom Joyner Foundation and 5 other institutions. These scholarships helped many students get and complete their college educations.
The Rate of Black Graduates is Low
$10,000 scholarships from Toyota went to Bennett College in North Carolina, Tuskegee University in Alabama and South Carolina State University. Toyota also gave two $10,000 grants to Texas’s Wiley College and North Carolina Central through the Tom Joyner Foundation.
The car maker is no stranger to philanthropy. Tom Joyner Foundation gives support and scholarships to more than 80 institutions. Toyota Financial Services has 10-year of supporting the Making Life Easier Scholarship Program and the CBS Baltimore Black History Month Oratory Contest.
Forty-two percent of black students graduate from college. Thus, financial support is important for black students, since it has an effect on graduation rates. Toyota has a tradition that should get picked up by other global corporations. In the end, everyone is giving back in their own way.
Toyota, Honda, and BMW Give Back in Their Own Way
Other car makers like Honda and BMW give back to great but different causes. BMW hosts a charity golf tournament every year. Honda has a partnership with the Detroit Symphony Orchestra to teach music to underserved students. To help the planet, all three companies are developing self-driving and electric cars. In the end, all of these companies are doing their best to help people, and make the planet greener.