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

Financial efficiency ratings

Sector: Relief and Development

CategoryRatingOverall rankSector rank
Overall efficiency rating12 of 4306 of 60
Fund acquisition rating17 of 4304 of 60
Resource allocation rating3 of 4301 of 60
Asset utilization rating74 of 43019 of 60

Financial ratios

Funding ratiosMedian % for
all ministries in
MW database
20172016201520142013
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%97%99%100%99%98%
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%3%1%0%1%2%
 
Operating ratiosMedian % for
all ministries in
MW database
20172016201520142013
Program expense ratio Program expense ratio =
Program services /
Total expenses
83%99%100%100%100%99%
Spending ratio Spending ratio =
Total expenses /
Total revenue
99%110%106%102%130%69%
Program output ratio Program output ratio =
Program services /
Total revenue
81%109%106%102%130%69%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
1%-10%-6%-2%-30%31%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
3%-31%-31%-11%-99%71%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
10%1%0%0%0%1%
 
Investing ratiosMedian measure
for all ministries
in MW database
20172016201520142013
Total asset turnover Total asset turnover =
Total expenses /
Total assets
1.323.545.375.914.251.60
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
1.531.081.061.051.051.02
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
2.533.825.706.204.461.64
 
Liquidity ratiosMedian measure
for all ministries
in MW database
20172016201520142013
Current ratio Current ratio =
Total current assets /
Total current liabilities
9.090.000.000.000.0070263.56
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.100.000.000.000.000.00
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
4.073.142.101.932.697.31
 
Solvency ratiosMedian % for
all ministries in
MW database
20172016201520142013
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%28%19%17%24%62%

Financials

Balance sheet
 
Assets20172016201520142013
Cash$1,204,922$1,053,280$325,392$601,905$1,568,276
Receivables, inventories, prepaids$11,587,929$17,470,964$24,454,696$25,608,646$60,433,250
Short-term investments$4,891,106$4,948,051$6,372,575$8,406,244$8,402,566
Other current assets$0$0$0$0$0
Total current assets$17,683,957$23,472,295$31,152,663$34,616,795$70,404,092
Long-term investments$0$0$0$0$0
Fixed assets$1,397,329$1,471,036$1,569,522$1,665,401$1,730,035
Other long-term assets$0$0$0$0$0
Total long-term assets$1,397,329$1,471,036$1,569,522$1,665,401$1,730,035
Total assets$19,081,286$24,943,331$32,722,185$36,282,196$72,134,127
 
Liabilities20172016201520142013
Payables and accrued expenses$0$0$0$0$1,002
Other current liabilities$0$0$0$0$0
Total current liabilities$0$0$0$0$1,002
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$1,002
 
Net assets20172016201520142013
Unrestricted$19,081,286$24,943,331$32,722,185$36,282,196$72,133,125
Temporarily restricted$0$0$0$0$0
Permanently restricted$0$0$0$0$0
Net assets$19,081,286$24,943,331$32,722,185$36,282,196$72,133,125
 
Revenues and expenses
 
Revenue20172016201520142013
Total contributions$60,037,432$125,296,850$190,393,871$117,570,241$163,752,950
Program service revenue$376,773$370,992$362,926$320,225$337,532
Membership dues$0$0$0$0$0
Investment income$832,521$36,874($1,497,344)$207,125$2,119,387
Other revenue$371,421$401,725$415,262$383,038$371,482
Total other revenue$1,580,715$809,591($719,156)$910,388$2,828,401
Total revenue$61,618,147$126,106,441$189,674,715$118,480,629$166,581,351
 
Expenses20172016201520142013
Program services$67,008,248$133,399,783$192,727,896$153,648,898$114,908,323
Management and general$446,804$467,776$478,246$620,683$621,010
Fundraising$25,140$17,736$28,584$61,977$17,272
Total expenses$67,480,192$133,885,295$193,234,726$154,331,558$115,546,605
 
Change in net assets20172016201520142013
Surplus (deficit)($5,862,045)($7,778,854)($3,560,011)($35,850,929)$51,034,746
Other changes in net assets$0$0$0$0$0
Total change in net assets($5,862,045)($7,778,854)($3,560,011)($35,850,929)$51,034,746

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.