Best Buy has been a leader in supporting communities for many years. Our investments not only enhance the communities we serve, but also provide us with opportunities to deepen our relationships with consumers and engage our employees. We strongly support employee-driven philanthropy because we believe our employees provide leadership for our industry, customers and communities, and serve as advocates in the world of technology. Together with our employees, Best Buy's community relations programs aim to educate and empower children and teens, provide support for local community charities and aid disaster relief.

 

@15

While we conducted many community programs in fiscal 2009, we have recently sharpened our focus on an important group — teens. In fiscal 2008, we launched @15, a social change platform that creates personal growth opportunities for teens, supporting them at a critical time in their lives. Teens are important to our business. They are influential consumers of technology, and, as employees, are a major asset to our organization. We also recognize how important they are to their own communities, society and the world. As part of the program, we created a place online (www.at15.com) where teens can develop and share their point of view on the world and how to change it.

Through the @15 Fund, we give teens a means to make change. Earlier this year, we launched the @15 Challenge to give teens the opportunity to further the social change projects they value most. The 15 winning Youth Venture Teams of young social entrepreneurs each received $10,000 from the @15 Fund to support their local program. The @15 Challenge with Youth Venture won silver place in the Halo Cause Marketing Awards for best use of social media.

Best Buy's @15 Scholarship Program was expanded in 2009 to include students in grades 9–12 in the U.S. and Puerto Rico. The program awards scholarships to applicants who are evaluated on their academic record and community involvement and work experience. Since 2006, the program has awarded nearly $9.5 million in scholarships.

Corporate Philanthropy and Volunteerism

In addition to @ 15, Best Buy is also an active supporter of numerous philanthropic initiatives. In fact, In October 2008, Best Buy was recognized by Forbes Magazine as a leader in corporate philanthropy when it ranked Best Buy as the fourth Most Generous Corporation. One of the reasons for this is Best Buy's employees have been extremely generous with their time. In fiscal 2009, 34 percent of our U.S. employees volunteered for a total of more than 165,000 hours. In fact, In April 2008, 156 Best Buy employees received the 2007 President's Volunteer Service Award, a national honor given by the President's Council on Service and Civic Participation in recognition of volunteer service. These 156 individuals contributed on average more than 250 hours of service — a combined total of 38,841 hours.

Best Buy is committed to responsive and strategic community giving. With a strong focus on local communities and children -especially teens — we will continue to educate and create opportunities for personal, professional and community growth, mainly through the innovation and passion of our employees.