Charity Funds Grow, School Pending: filings show $1.6m held; feasibility work, supplies start

Kai Cenat (Image via Getty) Kai Cenat's charitable work in Nigeria has moved from a highly publicised pledge to a project backed by a formal nonprofit and growing financial reserves. The Kai Cenat Foundation reported more than $1 million in contributions in its first reported year, according to its 2024 tax filing. A year later, the foundation reported $1.6 million in net assets while spending hundreds of thousands of dollars on its programme work, including steps toward developing educational facilities in Nigeria. The numbers offer a clearer picture of where the charity stood financially as Cenat continued working on his long-promised school project.Kai Cenat Foundation reported $1 million in contributions in 2024The Kai Cenat Foundation was formed in 2024 as a 501(c)(3) public charity based in Marietta, Georgia. Its stated mission centres on improving access to education in Nigeria through the construction of sustainable educational facilities.Its first Form 990 gives an unusually straightforward picture of the organisation's opening year. The foundation reported $1,001,374 in contributions, gifts and grants during fiscal year 2024. It also reported no functional expenses for th...