What is the Costco Scholarship Fund?

Since 2000, Costco has joined forces with the University of Washington and Seattle University to create scholarships for highly qualified underrepresented students who wish to attend these universities. Our goal is to fill the financial gap and offer access for many deserving students to attend college.

On behalf of Costco Wholesale, the College Success Foundation administers this scholarship fund. As a private non-profit organization, the Foundation can focus the scholarship fund proceeds.

What is the Costco Scholarship Fund Breakfast?

The Costco Scholarship Fund Breakfast, created by Jim Sinegal and Jeff Brotman (co-founders of Costco), is an annual event to raise money for the Costco Scholarship Fund. The event, hosted by Craig Jelinek and Jeff Brotman, is attended by corporate, foundation and community leaders, as well as local philanthropists who support higher education.

Jim Sinegal
Director and Co-Founder, Costco Wholesale
Jeff Brotman
Co-Founder and Chairman of the Board, Costco Wholesale
Craig Jelinek
President and CEO, Costco Wholesale

 

What is the impetus behind establishing the Costco Scholarship Fund?

Jeff Brotman, Regent of the University of Washington, and Jim Sinegal, Retired Member of the Board of Trustees of Seattle University, see education as one of the primary factors in creating a successful and fulfilled life. It is a springboard to getting a job, it teaches us about life and it instills in us a sense of accomplishment and a realization of what is possible. Education makes economic security possible.

In the fall of 1999, only 7.2% of the University of Washington's student population and 10% of Seattle University's student population consisted of underrepresented minorities (African American, Latino/Hispanic and Native American). As of fall 2010, 12% of the University of Washington's student population and 17% of Seattle University's student population were underrepresented minorities.

Providing qualified minority students access to education benefits everyone. It enriches ensuing discussions that make college so eye-opening and applicable. Such interaction can be more important than textbooks and lectures because it teaches us about humanity, understanding and communication.

Education also benefits the business community by helping these students prepare for the jobs they one day will hold at our companies. A confident, trained, well-rounded workforce contributes to the success of everyone.

How will the Costco Scholarship Fund be shared between the two universities?

The University of Washington and Seattle University will share all funds raised equally. However, donors can specify that their funds be directed to only one university.

Who is eligible for the Costco Scholarships?

The Costco Scholarship Fund is designed to help recruit qualified underrepresented minority students to attend the University of Washington and Seattle University.
The scholarship recipients are selected based on the eligibility criteria established by each university.

Are donations to the Costco Scholarship Fund tax-deductible?

Yes, since the Costco Scholarship Fund is administered by the College Success Foundation, a tax exempt 501(c)(3) organization, EIN #91-2036088. All gifts, excluding the value of goods and services received, are fully tax-deductible charitable contributions to the Foundation. Please remit donation payments to Costco Scholarship Fund c/o College Success Foundation, 15500 SE 30th Pl, Suite 200 - Bellevue, WA 98007.