Kings Enterprises Inc
- Assets
- $275.7k
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 108
- Location
- Charlotte, NC
- Founding
- 05/2011
- Data as of
- 12/2023
- EIN
- 27-2900928
Organization Overview
Kings Enterprises Inc is located in Charlotte, NC. The organization was established in 2011. According to its NTEE Classification (J20) the organization is classified as: Employment Preparation & Procurement, under the broad grouping of Employment and related organizations. As of 12/2023, Kings Enterprises Inc employed 108 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kings Enterprises Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Kings Enterprises Inc generated $2.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $2.4m during the year ending 12/2023. While expenses have increased by 2.8% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO FEED THE HOMELESS AND PROVIDE A JOB TRAINING PROGRAM THROUGH A PUBLIC RESTAURANT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VARIOUS PROGRAMS/SERVICES FEEDING PROGRAM WE FED AN AVERAGE OF 648 PEOPLE PER WEEK FOR A TOTAL 33,703 MEALS FOR THE YEAR. WE PROVIDED A QUALITY AND BALANCED MEAL FOR LUNCH AND DINNER. DETAILS OF THE VARIOUS PROGRAMS AND MINISTRIES SUPPORTED FOLLOW. WE PROVIDED AN AVERAGE OF 38 WEEKLY MEALS TO HICKORY GROVE HOUSING. WE SERVED AN AVERAGE OF 172 HOT DOGS EVERY FRIDAY NIGHT AS PART OF OUR STREET MINISTRY TO THE HOMELESS. WE PROVIDED 8,507 MEALS FOR PEOPLE ATTENDING CHURCH SERVICES AND/OR BIBLE STUDY. WE PROVIDED A LOCAL FOOD PANTRY AND HAVE SERVED MEALS TO OTHER LOCAL MINISTRIES AS NEEDS ARISE. THE KING'S KITCHEN RESTORATION JOB TRAINING PROGRAM AS MENTIONED IN OUR MISSION STATEMENT, THE RESTORATION PROGRAM'S GOAL IS TO TRAIN PEOPLE IN THE TRADES OF THE RESTAURANT INDUSTRY. WHAT IS UNIQUE ABOUT OUR PROGRAM FROM OTHERS IN THE AREA IS THE REAL WORLD EXPERIENCE COMBINED WITH A CHRISTIAN MINISTRY. RESTORING PLACE CHURCH AND THE CHARLOTTE MECKLENBURG DREAM CENTER UNDERWRITE THE MINISTRY FOR ALL TRAINING PROGRAMS AND BIBLE STUDIES IN ADDITION TO MENTORING THE PARTICIPANTS. THE WAGES PAID THE PARTICIPANTS FROM KING'S KITCHEN AND THE COST OF RESTAURANT MANAGEMENT IS INCLUDED IN SALARIES AND WAGES EXPENSE. NUMBER OF CLIENTS SERVED IN A YEAR: FEEDING PROGRAM - WE SERVED 33,703 MEALS THROUGH THE FEEDING PROGRAMS NOTED ABOVE. THE KING'S KITCHEN RESTORATION PROGRAM THE PROGRAM LASTS APPROXIMATELY A YEAR. TWO PEOPLE WERE TRAINED IN 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Treasurer | OfficerTrustee | 5 | $0 |
Name Not Listed President | OfficerTrustee | 20 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $203,807 |
| Noncash contributions included in lines 1a–1f | $16,195 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $203,807 |
| Total Program Service Revenue | $2,131,784 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,341,979 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $195,107 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $755,146 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $29,757 |
| Payroll taxes | $84,087 |
| Fees for services: Management | $78,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,341 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,704 |
| Advertising and promotion | $48,156 |
| Office expenses | $60,795 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $389,861 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,103 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $38,200 |
| Insurance | $27,614 |
| All other expenses | $0 |
| Total functional expenses | $2,401,707 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $62,484 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,515 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $33,891 |
| Prepaid expenses and deferred charges | $277 |
| Net Land, buildings, and equipment | $165,151 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,940 |
| Other assets | $4,476 |
| Total assets | $275,734 |
| Accounts payable and accrued expenses | $241,998 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $600,619 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $106,651 |
| Total liabilities | $949,268 |
| Net assets without donor restrictions | -$673,534 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $275,734 |