Rite Aid Foundation’s KidCents Program Announces $6 Million Commitment to Folds of Honor
May 31 2016 - 09:30AM
Business Wire
Donation to Provide Educational Scholarships to
Children of Fallen and Disabled Service Members in Communities
Served by Rite Aid
Rite Aid Foundation Will Also Support Folds of
Honor’s New DreamShip Initiative Launching Later this Year
Over Memorial Day weekend, The Rite Aid Foundation KidCent’s
program announced a three-year, $6 million commitment to Folds of
Honor, a nonprofit organization based in Owasso, Okla., dedicated
to providing educational scholarships to children of fallen or
disabled service members. The donation is the second made to Folds
of Honor by The Rite Aid Foundation’s KidCents program; it
previously awarded more than $1.3 million to the organization in
2015 to support educational scholarships for children of fallen or
disabled service members in the communities served by Rite Aid.
Ken Martindale, CEO of Rite Aid stores and president of Rite Aid
Corporation, who also serves as president of The Rite Aid
Foundation, announced the donation alongside Major Dan Rooney,
Folds of Honor Founder, during the Patriot Cup Invitational, the
organization’s annual golf tournament and gala celebrating the
nation’s heroes and raising funds for Folds of Honor.
During the same event, Folds of Honor also announced a new
initiative, DreamShip, designed to raise awareness and inspire
people across the country to support the organization. The Rite Aid
Foundation is supporting DreamShip in its inaugural launch,
scheduled for later this year.
A fully operational hot air balloon, DreamShip will raise
awareness about Folds of Honor while it travels the country,
serving as a constant symbol of the commitment made by the
organization, its partners and donors, to honor the nation’s fallen
and disabled service members and their families.
Just as special as the organization itself, the fabric of the
hot air balloon will showcase artwork created by Folds of Honor
scholarship recipients symbolizing their hopes and dreams for the
future. Standing eight stories tall, with every launch, DreamShip
will lift up the dreams of children helped by Folds of Honor, both
physically and metaphorically.
“The Rite Aid Foundation’s KidCents program is honored by the
opportunity to deepen our support of this incredible organization
and bring our Company’s core value of being a caring neighbor to
life in such a meaningful way,” said Martindale. “Working closely
with Folds of Honor over the past year, we’ve seen firsthand the
fantastic difference they’re making in the lives of children of
fallen and disabled service members. We’ve been touched by their
stories of how Folds of Honor has forever changed their lives and
couldn’t help but be compelled to do more for them and their
families who have already sacrificed so much.”
Folds of Honor was founded in 2007 by Major Dan Rooney, an F-16
fighter pilot in the Oklahoma Air National Guard who served three
tours of duty in Iraq. Since its inception, Folds of Honor has
awarded more than 10,000 scholarships to the family members of
fallen or disabled service members.
“Since joining the Folds of Honor family last year, Rite Aid,
its associates and customers have taken on our mission as their own
and have partnered with us as we work tirelessly to honor the
sacrifices made by our service men and women, their families and
children,” said Rooney. “We could not ask for a more dedicated
partner and are so thankful for Rite Aid’s continued generosity and
commitment to ensuring the legacy of our service members live on by
supporting the educational endeavors of their children.”
KidCents was developed by The Rite Aid Foundation to provide
Rite Aid customers an opportunity to do even more to help the kids
in the communities Rite Aid serves. Through KidCents, members of
Rite Aid Aid's wellness+ with Plenti program can round
up their in-store or online purchases to the nearest dollar and
give their change to one of more than 360 nonprofit organizations,
including Folds of Honor, focused on improving the health and
wellbeing of children.
Nonprofit organizations interested in participating in The Rite
Aid Foundation's KidCents program can
visit www.kidcents.com/apply to submit an application. To be
eligible, an organization must be classified as exempt from federal
tax under section 501(c)(3) of the Internal Revenue Service Code
and meet the KidCents program guidelines. For more information,
visit www.kidcents.com.
The Rite Aid Foundation has awarded nearly $25 million since
2001 to non-profit organizations. Additionally, Rite Aid, through
the efforts of its customers, supplier partners and associates, has
also raised more than $75 million for Children's Miracle Network
Hospitals across the country since 1994.
Rite Aid Corporation (NYSE: RAD) is one of the nation's leading
drugstore chains with nearly 4,600 stores in 31 states and the
District of Columbia and fiscal 2016 annual revenues of $30.7
billion. Information about Rite Aid, including corporate background
and press releases, is available through the company's website at
www.riteaid.com.
Folds of Honor is a 501(c)(3) nonprofit organization that
provides educational scholarships for the children and spouses of
those fallen or disabled while on active duty. For more
information, visit www.foldsofhonor.org.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160531005859/en/
MEDIA:Rite AidAshley Flower, 717-975-5718orFolds of HonorMegan
Godfrey, 708-214-4287
Rite Aid (NYSE:RAD)
Historical Stock Chart
From Feb 2024 to Mar 2024
Rite Aid (NYSE:RAD)
Historical Stock Chart
From Mar 2023 to Mar 2024