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Rite Aid Foundation Awards $2 Million to Support Folds of Honor Scholarships Through KidCents

September 17, 2018

CAMP HILL, Pa.--(BUSINESS WIRE)--Sep 17, 2018--The Rite Aid Foundation announced today that 422 students have been selected as 2018 Folds of Honor educational scholarship recipients through its KidCents program. This year’s $2 million award completes 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.

“Education plays such an important role in a child’s wellbeing and development, and we’re pleased to be honoring the tremendous sacrifice of our military heroes by helping their children have the educational foundation they need to achieve their dreams,” said Kermit Crawford, president and chief operating officer of Rite Aid Corporation and president of The Rite Aid Foundation. “Since first partnering with Folds of Honor in 2015, we have awarded over 1,500 scholarships totaling more than $7.1 million to the families of our military heroes. While it’s just a small token of our gratitude, we know these scholarships will make a meaningful difference in the lives and futures of these families.”

Starting this week, Rite Aid associates will begin recognizing select scholarship recipients during special in-store celebration events. In addition to the scholarship, students will receive a commemorative certificate.

“The Rite Aid Foundation has been an extraordinary partner in our mission to educate the legacy of our fallen and disabled service members,” said Major Dan Rooney, Folds of Honor Founder and CEO. “Rite Aid, its associates and customers have taken on our mission as their own and worked tirelessly to honor the sacrifices of our military men and women, their families and children. These scholarships don’t just provide educational support, they give hope to military families when they need it the most.”

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’s loyalty program, wellness+ rewards, can round up their in-store or online purchases to the nearest dollar and give their change to one of more than 440 nonprofit organizations focused on improving the health and wellbeing of children. For more information, visit www.kidcents.com.

Since its inception in 2001, The Rite Aid Foundation has awarded more than $40 million to non-profit organizations. Additionally, Rite Aid, through the efforts of its customers, supplier partners and associates, has also raised more than $87 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 fiscal 2018 annual revenues of $21.5 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 to families of military men and women who have fallen or been disabled while on active duty in the United States armed forces. Our 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 member and F-16 fighter pilot currently stationed at Tyndall AFB Florida as a member of 301st Fighter Squadron who served three tours of duty in Iraq, Folds of Honor is proud to have awarded more than 16,000 scholarships in all 50 states, as well as Guam, Puerto Rico and the Virgin Islands, including more than 3,500 in 2017 alone. For more information or to donate in support of a Folds of Honor scholarship, visit www.foldsofhonor.org.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180917005385/en/

CONTACT: Rite Aid

Peter Strella, 717-975-5718

pstrella@riteaid.com

or

Folds of Honor

Sarah Mellema, 312-888-2103

sarah.mellema@kemperlesnik.com

KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA

INDUSTRY KEYWORD: CONVENIENCE STORE WOMEN EDUCATION UNIVERSITY CONTINUING DISCOUNT/VARIETY HEALTH PHARMACEUTICAL CHILDREN TEENS RETAIL CONSUMER FAMILY MEN

SOURCE: Rite Aid and Folds of Honor

Copyright Business Wire 2018.

PUB: 09/17/2018 09:30 AM/DISC: 09/17/2018 09:30 AM

http://www.businesswire.com/news/home/20180917005385/en

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