Kai Cenat’s charity reported $1 million in contributions in 2024; one year later, it held $1.6 million in net assets while planning a school for Nigerian children

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 that period, leaving the organisation with $1,001,374 in net assets at year-end. The filing shows the money held by the foundation was essentially cash, with no reported liabilities.That does not mean the foundation had already built a school or completed major construction during 2024. Instead, the filing shows that the organisation was still at an early stage of turning its fundraising into a long-term education project.The foundation's programme description said it had begun taking contributions for the school and had contracted SESO Global to begin scouting land. That detail matters because it places the 2024 funds in the context of planning rather than suggesting that the entire amount had already been spent on construction.The filing also lists Cenat as the foundation's president. His compensation was reported as $0 for the year, alongside $0 reported for vice president John Nelson and treasurer Erica Heyward.The charity reached $1.6 million in net assets a year laterThe foundation's next filing shows a notable change.For fiscal year 2025, the Kai Cenat Foundation reported $858,000 in revenue and $233,000 in expenses. More importantly, its net assets had grown to approximately $1.6 million. The exact total assets reported were $1,626,366, while liabilities were listed at zero.The figures show that the foundation did not simply spend through the money it had accumulated during its first year. It continued to hold a substantial reserve while beginning to record programme spending.Its 2025 filing says the organisation contracted with SESO Global and Enko Foundation to begin a feasibility study. The purpose was to understand the needs of the region and determine the best way to provide educational facilities. The foundation also reported providing school supplies and computers to students.The foundation spent $233,000 on programme services during the year, according to the filing. That means the financial story is more complicated than simply looking at the amount raised. Some of the foundation's money remained on its balance sheet while work moved forward on the education initiative.For readers following the project, that distinction is important. Net assets are not the same thing as money already spent on a school. They represent what the nonprofit had left after accounting for its liabilities at the end of the reporting period.Kai Cenat’s Nigerian school project faced delaysThe financial filings also provide context for why the school has taken time to develop.Cenat first drew widespread attention to the project after visiting Nigeria and seeing the conditions at a school in Makoko, a waterfront community in Lagos. He later pledged to help build a new school for children in the area.During Mafiathon 3 in 2025, Cenat provided a more detailed update on the project. The proposed school was initially connected to Makoko, but construction difficulties involving the location forced the team to reconsider the site. Reports later said the project was being moved to Yaba, Lagos, where construction would be more practical.The change in location did not mean that the original community was being abandoned. Reports said children from Makoko would still be able to receive free education once the school opens.The project was also described as a much larger undertaking than simply putting up a building. Land, approvals, construction, curriculum and staffing all have to be considered before a functioning school can open.Cenat acknowledged the long timeline while discussing the project, saying, “it’s impossible to build a new school from the ground up in under two years” if the goal is to create something sustainable. He also described the ambition in simple terms: “Beyond me, beyond streaming.”That statement captures the bigger idea behind the project. Cenat is not presenting the school as a short-term publicity initiative. The stated aim is to create an institution that can continue serving students well beyond his own career as a streamer.What Kai Cenat’s charity finances reveal about the school planThe latest nonprofit figures offer one of the clearest ways to understand the project's progress.The foundation's 2024 filing showed more than $1 million coming in and no reported expenses. By 2025, the organisation had spent $233,000 on programme activity, including work connected to the educational project and direct support such as school supplies and computers. Yet it still ended the year with more than $1.6 million in net assets.That balance gives the foundation room to continue funding planning and development, but it should not be mistaken for the full budget required to complete the school.The wider project has been estimated at $5 million. Cenat also pledged a share of his Mafiathon revenue toward the initiative. During Mafiathon 3, 15% of the revenue was earmarked for the school project, according to Black Enterprise. Cenat's team said the goal was to build a school near Lagos that could provide a lasting educational opportunity for children.The foundation's work has therefore entered a different phase. What began with a pledge is now tied to a registered nonprofit, formal financial reporting, feasibility work and partnerships focused on determining how the school should operate.Cenat also returned to Nigeria in February 2026, renewing attention on the project and its progress. Reports said the visit came after earlier delays involving land acquisition and regulatory issues, with the proposed location shifted from Makoko to Yaba.The school is not yet the finished product that Cenat originally envisioned. But the foundation's financial records show that the effort has continued to develop behind the scenes. With $1.6 million in reported net assets at the end of 2025 and active planning work underway, the focus now is on turning those resources and commitments into a functioning school for Nigerian children.For Cenat, the challenge is no longer simply making a promise. It is delivering a project that can stand on its own, serve students for years and fulfil the larger vision behind his pledge.You use AI every day. Now get your AI Quotient. Take the AIQ test.