Foundation Overview and Mission
The Nancy Kerrigan Foundation is a nonprofit organization founded by former Olympic figure skater Nancy Kerrigan. It focuses on supporting youth through sports, education, and community programs, with an emphasis on underserved communities. The foundation operates as a public charity and files annual reports with the IRS, reflecting its role in the broader nonprofit sector. For context on how similar athlete-led nonprofits structure their finances, see this overview of nonprofit finance basics nonprofit finance basics.
Public filings show the foundation as a 501(c)(3) entity, meaning donations are generally tax-deductible for donors in the United States. Its mission centers on empowering young people through skating programs, scholarships, and outreach events. The foundation partners with local organizations to expand access to sports and mentorship, aligning with current trends in community-focused philanthropy. More on how foundations like this work with the IRS can be found in the official IRS guidance on exempt organizations IRS exempt organizations.
Financials and Funding
Available IRS Form 990 data provides insight into the foundation's revenue, expenses, and assets. The foundation reports contributions, grants, and program service revenue as primary income sources. Expenses are typically divided between program services, management and general costs, and fundraising. This structure mirrors common practices among U.S. charities, as detailed by the SEC's educational resources on nonprofit financial reporting understanding nonprofits.
Donations to the foundation support on-ice training, off-ice conditioning, and educational workshops for young athletes. The foundation also funds community events and partnerships with local skating clubs. Financial transparency is maintained through public disclosures, allowing donors and researchers to review revenue trends and program spending. For a broader look at how nonprofit financials are analyzed, see this Forbes breakdown of charity metrics charity metrics.
Impact and Programs
The foundation's programs target youth development through figure skating, academic support, and leadership training. Participants often come from communities with limited access to sports and enrichment activities. The foundation measures impact through program attendance, scholarship awards, and partner feedback. This approach aligns with current data-driven philanthropy standards used by organizations like the Skating Club of Boston and similar youth sports nonprofits.
Recent initiatives include free skating clinics, mentorship pairings with professional skaters, and partnerships with schools. The foundation also supports athletes transitioning from competitive skating to other careers. These efforts reflect a broader trend in athlete foundations toward holistic youth development. For more on how such programs are evaluated, see the Aspen Institute's Project Play research Project Play.