About
The Coca-Cola Scholars Foundation is an Atlanta-based 501(c)(3) nonprofit that invests in exceptional high school students, "offering college scholarships to exceptional high school students dedicated to leadership, service, and action that positively affects others." Established in 1986 and supported throughout its existence by The Coca-Cola Company and Coca-Cola bottlers, the foundation awards 150 scholarships of $20,000 each year and has supported more than 7,000 young people to date.
Mission
The foundation describes its purpose as "amplifying the impact of exceptional leaders through scholarships, lifelong learning, and a powerful community of mission-driven changemakers." Its strategic plan is oriented around a goal of reaching 10,000 Scholars.
What they do
- Award the Coca-Cola Scholars Program scholarship: 150 scholars are selected each year, each receiving a $20,000 college scholarship
- Select scholars on an achievement basis emphasizing leadership, academics, and service rather than financial need; applicants must be graduating U.S. high school students with a minimum overall B/3.0 GPA
- Provide ongoing enrichment and lifelong leadership development, including annual Scholars Banquets and Service Summits that connect the scholar network
History
The foundation was established in 1986 and received its federal tax exemption in September 1986, according to IRS records on ProPublica Nonprofit Explorer. Per the foundation's impact page, it has awarded $87,000,000 in total scholarships since 1989; its 2026 application materials cite more than $90 million distributed among over 7,200 scholars across 40 years of impact.
Scale and impact
- More than 7,050 young people supported, per the foundation's website
- Scholars have come from 3,276 high schools in all 50 states
- Alumni include 200+ C-level executives, 175+ business entrepreneurs, 300+ nonprofit founders, board members and presidents, 100+ Rhodes, Marshall and Fulbright Scholars, and 700+ government staff members
Financials
According to IRS Form 990 data on ProPublica Nonprofit Explorer (fiscal year 2024), Coca-Cola Scholars Foundation Inc (EIN 58-1686023) reported total revenue of $5,973,150, total expenses of $6,870,443, total assets of $72,399,676, and net assets of $72,005,828. Revenue came from contributions (56.4%, about $3.4 million) and investment income (44.3%, about $2.6 million).
Governance
The foundation is led by a board and staff, supported by an Alumni Advisory Board. Jane Hopkins serves as President and Secretary, per the foundation's 2024 IRS filing.
