95k does, but very few scholars have family incomes anywhere near that. The average for my cohort was somewhere around 30k per family – and many had 4 or 5 other siblings or other dependents, like grandparents that needed care. The vast majority of JKCF recipients receive the full Pell grant. This stat (average income) and others are available on their site.
No one is saying that the kids are chosen on financial need alone: there are a lot of needy kids, and a very limited number of scholarship spots. That alone is not enough. It is, of course, both merit and financial need & consideration of other difficult circumstances – but that doesn’t change the fact that JKCF considers financial need and similar dire circumstances much more heavily than most major national scholarships, which are usually somewhat willing to take an upper middle class kid for a set of great achievements.
Coke is 100% merit and it says so on their site.
Additional source: I won both.