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 rating27 of 44210 of 63
Fund acquisition rating15 of 4422 of 63
Resource allocation rating13 of 4424 of 63
Asset utilization rating154 of 44232 of 63

Financial ratios

Funding ratiosMedian % for
all ministries in
MW database
20182017201620152014
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
95%99%97%99%100%99%
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
5%1%3%1%0%1%
 
Operating ratiosMedian % for
all ministries in
MW database
20182017201620152014
Program expense ratio Program expense ratio =
Program services /
Total expenses
82%99%99%100%100%100%
Spending ratio Spending ratio =
Total expenses /
Total revenue
99%91%110%106%102%130%
Program output ratio Program output ratio =
Program services /
Total revenue
81%90%109%106%102%130%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
1%9%-10%-6%-2%-30%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
2%18%-31%-31%-11%-99%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
11%1%1%0%0%0%
 
Investing ratiosMedian measure
for all ministries
in MW database
20182017201620152014
Total asset turnover Total asset turnover =
Total expenses /
Total assets
1.271.863.545.375.914.25
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
1.531.061.081.061.051.05
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
2.461.973.825.706.204.46
 
Liquidity ratiosMedian measure
for all ministries
in MW database
20182017201620152014
Current ratio Current ratio =
Total current assets /
Total current liabilities
7.970.000.000.000.000.00
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.110.000.000.000.000.00
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
4.056.093.142.101.932.69
 
Solvency ratiosMedian % for
all ministries in
MW database
20182017201620152014
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
10%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
63%54%28%19%17%24%

Financials

Balance sheet
 
Assets20182017201620152014
Cash$4,799,068$1,204,922$1,053,280$325,392$601,905
Receivables, inventories, prepaids$17,014,224$11,587,929$17,470,964$24,454,696$25,608,646
Short-term investments$214,037$4,891,106$4,948,051$6,372,575$8,406,244
Other current assets$0$0$0$0$0
Total current assets$22,027,329$17,683,957$23,472,295$31,152,663$34,616,795
Long-term investments$0$0$0$0$0
Fixed assets$1,358,226$1,397,329$1,471,036$1,569,522$1,665,401
Other long-term assets$0$0$0$0$0
Total long-term assets$1,358,226$1,397,329$1,471,036$1,569,522$1,665,401
Total assets$23,385,555$19,081,286$24,943,331$32,722,185$36,282,196
 
Liabilities20182017201620152014
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$0$0$0$0$0
Total long-term liabilities$0$0$0$0$0
Total liabilities$0$0$0$0$0
 
Net assets20182017201620152014
Unrestricted$23,385,555$19,081,286$24,943,331$32,722,185$36,282,196
Temporarily restricted$0$0$0$0$0
Permanently restricted$0$0$0$0$0
Net assets$23,385,555$19,081,286$24,943,331$32,722,185$36,282,196
 
Revenues and expenses
 
Revenue20182017201620152014
Total contributions$47,421,776$60,037,432$125,296,850$190,393,871$117,570,241
Program service revenue$316,267$376,773$370,992$362,926$320,225
Membership dues$0$0$0$0$0
Investment income($229,211)$832,521$36,874($1,497,344)$207,125
Other revenue$193,259$371,421$401,725$415,262$383,038
Total other revenue$280,315$1,580,715$809,591($719,156)$910,388
Total revenue$47,702,091$61,618,147$126,106,441$189,674,715$118,480,629
 
Expenses20182017201620152014
Program services$42,868,133$67,008,248$133,399,783$192,727,896$153,648,898
Management and general$488,927$446,804$467,776$478,246$620,683
Fundraising$40,762$25,140$17,736$28,584$61,977
Total expenses$43,397,822$67,480,192$133,885,295$193,234,726$154,331,558
 
Change in net assets20182017201620152014
Surplus (deficit)$4,304,269($5,862,045)($7,778,854)($3,560,011)($35,850,929)
Other changes in net assets$0$0$0$0$0
Total change in net assets$4,304,269($5,862,045)($7,778,854)($3,560,011)($35,850,929)

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.