Communities

Food Bank Program

At PriceSmart, we're committed to being good neighbors and supporting the communities where we live and work. Over the years, many of our clubs have donated excess food supplies on an ad hoc basis, thereby reducing waste and helping those in need.

In FY2022, we took the first steps toward making this a formal, company-wide program by launching a major initiative to partner with local food banks through the Global FoodBanking Network (GFN), an international NGO whose mission is to nourish the world's hungry through uniting and advancing food banks.

In FY2022 we conducted a series of site visits in Costa Rica and Guatemala and initiated our first donations in these two markets in early September 2022. In FY2023, we hope to conduct site visits and begin scheduling donations in the remaining countries listed above. During the first phase of this initiative, we will focus on donating bakery and produce items, although we may expand to include other items in the future.

Volunteering Program

At PriceSmart, we are firm believers in the ability of corporate giving to improve the communities in which we do business. Our corporate volunteering program was launched in April 2022, and it is in line with our dedication to corporate social responsibility. One of the key achievements of this program has been the creation of dedicated Volunteering Champions in each country. These individuals play a crucial role in coordinating and promoting volunteering initiatives within their respective regions, ensuring that our efforts are impactful and aligned with local needs.

To further enhance the effectiveness and organization of our volunteering initiatives, PriceSmart has developed an Annual Volunteering Plan. This plan serves as a roadmap, identifying key activities and projects that align with our corporate social responsibility objectives. It enables us to strategically allocate resources and engage employees in meaningful volunteer work throughout the year. In addition, we have introduced corporate t-shirts with the inspiring logo "Giving Back is Smart" for our volunteering activities. This visual representation unifies our volunteers and reinforces our commitment to making a positive difference in the communities we serve.

To ensure consistency and adherence to best practices, PriceSmart has deployed the Corporate Volunteering Guideline. This comprehensive document outlines the objectives, responsibilities, and guidelines for participating in our volunteering initiatives. It provides a clear framework for employees to engage in volunteering activities and establishes a Volunteering Committee at each business unit. This committee plays a vital role in organizing and executing volunteering projects, fostering employee involvement, and coordinating with local community organizations. By implementing these measures, PriceSmart aims to maximize the impact of our Corporate Volunteering Program, positively contributing to the well-being of the communities where we operate.

Established in 2022, PriceSmart Foundation is an independent non-profit foundation that works to create an environment of opportunity and access for communities in regions where PriceSmart operates its business.

The Foundation's efforts focus on:

• Youth-oriented social and educational development
• Inclusive economic development
• Community resilience, including:
• Humanitarian assistance in response to natural disasters and other crises
• Investments to help communities adapt to climate change

The Foundation's independence enables it to partner with other organizations throughout the Americas and the Caribbean.

For more information click here: https://www.pricesmart.org/

Aprender y Crecer (Learning and Growing) is the name of the program created by Price Philanthropies Foundation to provide educational materials to students at public schools in communities where PriceSmart operates in Latin America and the Caribbean.

The program was started in 2006 in Costa Rica, at the behest of Robert Price, chairman of PriceSmart and president of Price Philanthropies. He wanted to give back to communities that helped bring such success to the business.

While the supplies are a major component of Aprender y Crecer the real focus of the program is literacy. Aprender y Crecer provides books for students to read for pleasure and keep as their own, as well as literature collections for teachers to utilize in their lesson plans.

Aprender y Crecer also provides additional equipment, such as valuable collections of children's literature, educational games for all ages, high-quality educational materials, and classroom furniture.

For more information click here: https://www.aprenderycrecer.org/index.html