Chrysler is starting a charitable foundation in the name of the company's CEO, Sergio Marchionne. The charity will support the educational needs of Chrysler employees' children by granting scholarships, beginning in 2014. Ronald Thompson, the lead director of the Chrysler Group LLC Board of Directors, credits Marchionne's ability to foster change and his strong leadership qualities as the inspiration to help drive the success of younger generations.

"I am extremely privileged and thankful to have this foundation established given the extraordinary commitment made by all stakeholders in the rebirth of Chrysler after the events of 2009," said Marchionne. "The action being proposed by the Board of Directors provides an opportunity to support important causes consistent with the values of Chrysler, with an initial focus on the educational needs and ambitions of our employees' children."

Marchionne stepped in as CEO of Chrysler after the company emerged from filing bankruptcy in 2009, according to Autoblog. Since then he has worked to improve the automaker's status and helped it recover to nearly pre-recession levels. The automotive business mogul, who turned Fiat into a fast-growing business, has continued to refuse compensation for his work with Chrysler. This bold move has allowed more funds to remain in the business, and helped to instill trust from employees.

It is Marchionne's generous, giving nature that has impressed the Chrysler Board of Directors, and inspired them to start this nonprofit. The automaker will provide funds for the charity, partly from sales profits. Those interested in purchasing a Chrysler may be able to find a used model that fits their needs at New Jersey State Auto Auction. The dealer carries a wide selection of makes and models, and every vehicle on the lot is CARFAX certified.