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The Rite Aid Foundation Awards Nearly $2 Million to Folds of Honor Scholarship Recipients Through KidCents

CAMP HILL, Pa.--(BUSINESS WIRE)--

New Round of Scholarships Launches Second, Three-Year Commitment to Folds of Honor

The Rite Aid Foundation announced today that 390 students have been selected as 2019 Folds of Honor Educational Scholarship recipients through its KidCents program. This year’s scholarships, which total more than $1.9 million, begin a three-year, $6 million commitment to Folds of Honor, a nonprofit organization that provides educational scholarships to children and spouses of fallen or disabled service members.

This new three-year commitment is The Rite Aid Foundation’s third contribution to Folds of Honor. Since 2015, The Rite Aid Foundation has awarded $7.2 million to the organization, including $1.3 million in 2015 and another three-year, $6 million commitment in 2016.

“Over the last four years, The Rite Aid Foundation has awarded more than 1,500 scholarships to the families of fallen or disabled military heroes. These scholarships don’t just provide educational support, they also give hope to military families for better lives and brighter futures,” said Bryan Everett, chief operating officer, Rite Aid and president of The Rite Aid Foundation. “The scholarships help set these children up for future academic growth and success by providing everything from after-school tutoring to tuition to special music education programs. There’s no better way to honor the tremendous sacrifice of our military heroes than by helping their children achieve their dreams.”

Rite Aid associates will recognize select scholarship recipients during in-store celebration events over the next several weeks.

“Folds of Honor could not ask for a more dedicated partner than The Rite Aid Foundation. We are extremely grateful for their tremendous support and commitment to our cause over the last four years,” said Major Dan Rooney, founder, Folds of Honor. “The Rite Aid Foundation and Rite Aid’s associates across the nation have taken on our mission as their own and worked tirelessly to honor the sacrifices made by our service men and women, and their families.”

The Rite Aid Foundation awards Folds of Honor scholarships through its KidCents program, which is one of The Rite Aid Foundation’s charitable giving programs dedicated to improving the health and well-being of children living in the communities Rite Aid serves.

Through the KidCents program, members of Rite Aid's loyalty program, wellness+ rewards, can round up their in-store or online purchases to the nearest dollar and donate their change to KidCents. Members can also choose to direct their change to a specific KidCents charity by visiting www.kidcents.com. Through KidCents’ Step Up Fund, The Rite Aid Foundation provides a matching donation of $500 for every $500 a charity raises in contributions through the wellness+ rewards program, up to a maximum of $5,000. For more information, visit www.kidcents.com.

About The Rite Aid Foundation

Since its inception in 2001, The Rite Aid Foundation has awarded more than $63 million to nonprofit organizations. Additionally, Rite Aid, through the efforts of its customers, supplier partners and associates, has also raised more than $92 million for Children's Miracle Network Hospitals across the country since 1994.

About Rite Aid Corporation

Rite Aid Corporation, which generated fiscal 2019 annual revenue of $21.6 billion, is one of the nation's leading drugstore chains with 2,466 stores in 18 states and pharmacy benefit management (PBM) capabilities through EnvisionRxOptions and its affiliates. At Rite Aid, we have a personal interest in our patient's health and wellness and deliver the products and services they need to lead healthier lives. Information about Rite Aid, including corporate background and press releases, is available through the company's website at www.riteaid.com.

About Folds of Honor

Folds of Honor is a 501(C)(3) nonprofit organization, rated a four-star charity by Charity Navigator, that provides educational scholarships to families of military men and women who have fallen or been disabled while on active duty in the United States armed forces. Folds of Honor educational scholarships support private education tuition and tutoring for children in grades K-12, as well as higher education tuition assistance for spouses and dependents. Founded in 2007 by Major Dan Rooney, a PGA Professional and F-16 fighter pilot in the Air Force Reserves who served three tours of duty in Iraq, Folds of Honor is proud to have awarded nearly 20,000 scholarships in all 50 states and some U.S. territories, including approximately 4,000 in 2018 alone. For more information or to donate in support of a Folds of Honor scholarship, visit www.foldsofhonor.org.

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