Kingsway Charities

Summary

Kingsway Charities, Inc. delivers medical supplies and other health care related products to needy communities and families in underprivileged foreign countries. Most of the contributions received consist of medical supplies, including eyeglasses, surgical supplies, topical ointments, internal medications, and other pharmaceutical products. Kingsway Charities is a nonprofit organization and contributions to it are fully tax deductible to the extent allowed by law.


Contact information

Mailing address:
1119 Commonwealth Avenue
Bristol, VA 24201-4201

Website: www.kingswaycharities.org

Phone: (276) 466-3014

Email: info@kingswaycharities.org


Organization details

EIN: 541668650

CEO/President: Mr. James Gregory

Chairman: Mr. James Gregory

Board size: 13

Founder: Mr. John Gregory

Year founded: 1993

Tax deductible: Yes

Fiscal year end: 12/31

Member of ECFA: No

Member of ECFA since:


Purpose


The International ministry of Kingsway Charities freely provides medications and medical supplies to medical mission teams whose goal is to share the love of Jesus Christ by administering health care to those in need throughout the world.


Mission statement

Kingsway Charities Inc. is a faith based Christian charitable organization based in Bristol, VA. Our International Medical Ministry supplies medications and medical supplies to qualified medical teams freely serving the poor in under-developed and developing countries. Kingsway Charities is a nonprofit organization and contributions to it are fully tax deductible to the extent allowed by law.


Statement of faith

Transparency grade

C

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Relief and Development

CategoryRatingOverall rankSector rank
Overall efficiency rating11 of 6242 of 68
Fund acquisition rating28 of 6252 of 68
Resource allocation rating29 of 6252 of 68
Asset utilization rating75 of 62413 of 68

Financial ratios

Funding ratiosSector median20192018201720162015
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
7%0%0%0%0%0%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
6%0%0%0%0%0%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
98%98%99%97%99%100%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
6%0%0%0%0%0%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
2%2%1%3%1%0%
 
Operating ratiosSector median20192018201720162015
Program expense ratio Program expense ratio =
Program services /
Total expenses
86%100%99%99%100%100%
Spending ratio Spending ratio =
Total expenses /
Total revenue
100%100%91%110%106%102%
Program output ratio Program output ratio =
Program services /
Total revenue
85%100%90%109%106%102%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
0%0%9%-10%-6%-2%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
0%-1%18%-31%-31%-11%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
7%0%1%1%0%0%
 
Investing ratiosSector median20192018201720162015
Total asset turnover Total asset turnover =
Total expenses /
Total assets
1.775.681.863.545.375.91
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
1.291.061.061.081.061.05
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
2.776.031.973.825.706.20
 
Liquidity ratiosSector median20192018201720162015
Current ratio Current ratio =
Total current assets /
Total current liabilities
6.400.000.000.000.000.00
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.140.000.000.000.000.00
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
3.001.996.093.142.101.93
 
Solvency ratiosSector median20192018201720162015
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
13%0%0%0%0%0%
Debt ratio Debt ratio =
Debt /
Total assets
0%0%0%0%0%0%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
41%18%54%28%19%17%

Financials

Balance sheet
 
Assets20192018201720162015
Cash$1,401,437$4,799,068$1,204,922$1,053,280$325,392
Receivables, inventories, prepaids$15,594,525$17,014,224$11,587,929$17,470,964$24,454,696
Short-term investments$4,752,386$214,037$4,891,106$4,948,051$6,372,575
Other current assets$0$0$0$0$0
Total current assets$21,748,348$22,027,329$17,683,957$23,472,295$31,152,663
Long-term investments$0$0$0$0$0
Fixed assets$1,336,838$1,358,226$1,397,329$1,471,036$1,569,522
Other long-term assets$0$0$0$0$0
Total long-term assets$1,336,838$1,358,226$1,397,329$1,471,036$1,569,522
Total assets$23,085,186$23,385,555$19,081,286$24,943,331$32,722,185
 
Liabilities20192018201720162015
Payables and accrued expenses$0$0$0$0$0
Other current liabilities$0$0$0$0$0
Total current liabilities$0$0$0$0$0
Debt$0$0$0$0$0
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$45$0$0$0$0
Total long-term liabilities$45$0$0$0$0
Total liabilities$45$0$0$0$0
 
Net assets20192018201720162015
Unrestricted$23,085,141$23,385,555$19,081,286$24,943,331$32,722,185
Temporarily restricted$0$0$0$0$0
Permanently restricted$0$0$0$0$0
Net assets$23,085,141$23,385,555$19,081,286$24,943,331$32,722,185
 
Revenues and expenses
 
Revenue20192018201720162015
Total contributions$128,306,233$47,421,776$60,037,432$125,296,850$190,393,871
Program service revenue$330,384$316,267$376,773$370,992$362,926
Membership dues$0$0$0$0$0
Investment income$2,020,010($229,211)$832,521$36,874($1,497,344)
Other revenue$240,887$193,259$371,421$401,725$415,262
Total other revenue$2,591,281$280,315$1,580,715$809,591($719,156)
Total revenue$130,897,514$47,702,091$61,618,147$126,106,441$189,674,715
 
Expenses20192018201720162015
Program services$130,679,048$42,868,133$67,008,248$133,399,783$192,727,896
Management and general$501,152$488,927$446,804$467,776$478,246
Fundraising$17,728$40,762$25,140$17,736$28,584
Total expenses$131,197,928$43,397,822$67,480,192$133,885,295$193,234,726
 
Change in net assets20192018201720162015
Surplus (deficit)($300,414)$4,304,269($5,862,045)($7,778,854)($3,560,011)
Other changes in net assets$0$0$0$0$0
Total change in net assets($300,414)$4,304,269($5,862,045)($7,778,854)($3,560,011)

Response from ministry

No response has been provided by this ministry.


History

Kingsway Charities, has it's origin closely tied to the successful King Pharmaceuticals, Inc., a contract manufacturer of prescription brand name pharmaceuticals. King Pharmaceuticals, Inc. was founded in 1993 by the Gregory family. They in turn founded King Pharmaceuticals Benevolent Fund, also in 1994. King Pharmaceuticals, and more specifically the Gregory family has been very generous. One of their outlets for generosity has been with and through Kingsway Charities.


Program accomplishments


In 2009, Kingsway Charities supported 893 medical mission trips by 403 ministries traveling to 63 different countries. Medicines & supplies were given to treat a reported 3,700,742 people leading to 48,681 salvations!


Needs

Kingsway Charities has the following needs:

  1. Product donations
  2. Volunteer support
  3. Financial donations

Kingsway Charities is experienced with receiving, tracking and distributing medications, including short-dated medications and other medical supplies. They provide transportation from the donor's storage facility to the Kingsway Charities warehouse. Their quick turn-around time enables them to process short-dated medications in a timely manner, to avoid out-of-date supplies, and to remove donations from the donor's storage facilities to free warehousing space eliminating extra cost to the donor.

KC is unique in that they maintain a level of personal involvement throughout the donation process with the donor, as well as with the recipients that request assistance. Kingsway Charities is committed to being sensitive to the donor's needs, to be expedient in moving the donor's product and to be discriminating in the results. Kingsway Charities is able to utilize short-dated medications, help provide the transportation and have adequate warehousing and refrigeration.

For more information on how to contribute, contact Kingsway Charities at 1-800-321-9234 or e-mail to info@kingswaycharities.org.