While no one could have predicted from the program’s start that it would continue and grow to its current proportions, those involved at Costco are certainly pleased.
“It’s achieved even more than we expected,” says Dick DiCerchio, Costco senior executive vice president and chief operating officer. Part of that goal was creating a pathway for diverse viewpoints at universities and training high-performing professionals who will one day work in the region’s business, nonprofit and public organizations. “It’s very rewarding for all of us.”
At a Glance
Since the Costco Scholarship Fund began, 579 students from Seattle University have received scholarships.
The aim of the Costco Scholarship Fund is to provide scholarships for underrepresented minority students at Seattle University and the University of Washington. To date, the fund has raised more than $15 million to support the higher education dreams of hundreds of students. Here are some key facts about the Costco Scholars Fund:
The year the Costco Scholarship Fund was created by Jim Sinegal, president and CEO of Costco and Jeff Brotman, chairman of the Costco board. That year, $250,000 was brought in at the first annual fundraising breakfast.
The percentage of Seattle University’s underrepresented minority students. Almost half of these students are Costco Scholars.
The year the Costco Scholarship Fund began awarding scholarships to freshmen.
The amount the fund raised in 2008, bringing its total to date to more than $15 million, most of which was donated by Costco employees and suppliers at the annual breakfast.
The average amount qualifying students receive in annual scholarship support.
By the end of the 2008–09 academic year, nearly 300 students have successfully graduated from Seattle University with support from the Costco Scholars program.