Kentucky Fried Chicken Foundation Inc
- Assets
- $6.3m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Louisville, KY
- Founding
- 06/1999
- Data as of
- 12/2020
- EIN
- 61-1337601
Organization Overview
Kentucky Fried Chicken Foundation Inc, operating under the name Kfc Foundation Inc, is located in Louisville, KY. The organization was established in 1999. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kfc Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2020, Kfc Foundation Inc generated $2.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $2.6m during the year ending 12/2020. While expenses have increased by 5.4% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
KFC FOUNDATION, AN INDEPENDENT NON-PROFIT ORGANIZATION, PROVIDES CHARITABLE SUPPORT TO KFC U.S. RESTAURANT EMPLOYEES THROUGH EDUCATION, HARDSHIP ASSISTANCE AND PERSONAL FINANCE PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE REACH EDUCATIONAL GRANT PROGRAM HELPS EMPLOYEES AT KFC U.S. RESTAURANTS PURSUE THEIR DREAMS OF GOING TO COLLEGE. EMPLOYEES OF ANY AGE, ANY POSITION, PURSUING ANY DEGREE CAN RECEIVE MONEY TO HELP THEM ATTEND THE ACCREDITED FOUR-YEAR OR TWO-YEAR COLLEGE OF THEIR CHOICE. THE MONEY CAN ALSO BE USED AT TRADE/ VOCATIONAL SCHOOLS AND FOR GRADUATE STUDY. IN 2020 THIS PROGRAM PROVIDED 683 RECIPIENTS WITH COLLEGE SCHOLARSHIPS.
FOR KFC RESTAURANT EMPLOYEES WHO DIDN'T GRADUATE FROM HIGH SCHOOL, RISE WITH GEDWORKS IS A PATHWAY TO ACHIEVING THEIR DREAMS. EVERY ELIGIBLE KFC RESTAURANT EMPLOYEE WHO SEEKS ASSISTANCE THROUGH RISE IS ADMITTED INTO THIS FREE, ALL-INCLUSIVE PROGRAM THAT PROVIDES UNLIMITED ACCESS TO GED PREPARATION AND TESTING. OFFERED IN BOTH ENGLISH AND SPANISH, RISE WITH GEDWORKS INCLUDES A TEST PASS GUARANTEE AND A PERSONAL GED ADVISOR WHO IS WITH THE EMPLOYEE-STUDENT EVERY STEP OF THE WAY. PARTICIPANTS WITHOUT PERSONAL COMPUTERS ARE ALSO PROVIDED A LAPTOP AND INTERNET ACCESS TO ENSURE THAT THEY CAN STUDY ON THEIR OWN AND COMPLETE THEIR GED. 28 PARTICIPANTS EARNED THEIR GEDS IN 2020.
THE KFC FAMILY FUND IS AVAILABLE TO KFC U.S. RESTAURANT EMPLOYEES WHO HAVE BEEN DIRECTLY IMPACTED BY A SEVERE HARDSHIP, CRISIS, OR CATASTROPHIC INCIDENT THAT WAS BEYOND THEIR CONTROL. THE PURPOSE OF THE PROGRAM IS TO PROVIDE TEMPORARY, LIMITED FINANCIAL RELIEF. WHILE MONEY CAN'T ELIMINATE THE SORROW, IT CAN HOPEFULLY ELIMINATE SOME OF THE ADDED STRESS THAT OFTEN ACCOMPANIES IT. IN 2020, THE FAMILY FUND PROVIDED RELIEF TO 118 PEOPLE AND SINCE THIS PROGRAM BEGAN IN DECEMBER 2015, IT HAS PROVIDED CLOSE TO $1,000,000 TO TEAM MEMBERS IN NEED.
MYCHANGE WITH SAVERLIFE IS AN ONLINE PLATFORM THAT EMPOWERS KFC EMPLOYEES TO GROW THEIR FINANCIAL KNOW-HOW, BUILD A SAVINGS HABIT AND BOOST THEIR SAVINGS. THE FOUNDATION ALSO OFFERS A BIANNUAL SAVINGS MATCH CHALLENGE WHERE EMPLOYEES CAN RECEIVE UP TO $260 IN MATCHED SAVINGS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Emma Horn Managing Director/secretary | Officer | 40 | $108,639 |
Debra Rollins Asst. Secretary | Officer | 40 | $60,549 |
Justin Stewart President | OfficerTrustee | 2 | $0 |
Holly Goode Treasurer | OfficerTrustee | 1 | $0 |
John Kurnick Director | Trustee | 1 | $0 |
Melissa Faurest Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,364,540 |
| Noncash contributions included in lines 1a–1f | $22,407 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,364,540 |
| Total Program Service Revenue | $0 |
| Investment income | $123,408 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$61,611 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,426,337 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,032,058 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $191,581 |
| Compensation of current officers, directors, key employees. | $31,373 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $59,868 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,198 |
| Payroll taxes | $17,765 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $687 |
| Fees for services: Accounting | $24,389 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $19,924 |
| Fees for services: Other | $20,000 |
| Advertising and promotion | $25,256 |
| Office expenses | $32,836 |
| Information technology | $16,920 |
| Royalties | $0 |
| Occupancy | $2,985 |
| Travel | $6,839 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,398 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,855 |
| All other expenses | $7,712 |
| Total functional expenses | $2,639,806 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,225 |
| Savings and temporary cash investments | $1,915,729 |
| Pledges and grants receivable | $684,674 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,822 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,717,078 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,322,528 |
| Accounts payable and accrued expenses | $138,881 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $138,881 |
| Net assets without donor restrictions | $5,998,431 |
| Net assets with donor restrictions | $185,216 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,322,528 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Kentucky Fried Chicken Foundation Inc has recieved totaling $5,576.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $5,568 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $8 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
College Now Greater Cleveland Inc Cleveland, OH | $24,271,314 | $18,465,003 |
Hca Healthcare Foundation Nashville, TN | $97,582,102 | $44,453,527 |
James Madison University Foundation Inc Harrisonburg, VA | $191,139,680 | $18,508,438 |
Marine Corps Scholarship Foundation Inc Alexandria, VA | $149,128,193 | $34,285,716 |
Children Of Fallen Patriots Foundation Reston, VA | $18,264,760 | $13,060,746 |
Future Leaders Of Americafoundation Inc Chicago, IL | $0 | $13,517,008 |
Kansas City Scholars Inc Kansas City, MO | $5,810,030 | $12,156,402 |
The Hartwell Foundation Corporation Memphis, TN | $88,595,532 | $17,280,759 |
Knowledgeworks Foundation Cincinnati, OH | $34,010,195 | $7,717,304 |
Ray And Kay Eckstein Charitable Trust Paducah, KY | $358,796,277 | $128,951,866 |
Professional Convention Management Association Chicago, IL | $13,503,434 | $11,522,188 |
Sigma Chi Foundation Evanston, IL | $40,441,719 | $12,690,646 |