Kingsway Charities Inc
- Assets
- $4.3m
- Revenue
- $17.5m
- Investments
- $0.0
- Employees
- 9
- Location
- Bristol, VA
- Founding
- 07/1993
- Data as of
- 12/2022
- EIN
- 54-1668650
Organization Overview
Kingsway Charities Inc is located in Bristol, VA. The organization was established in 1993. According to its NTEE Classification (Q30) the organization is classified as: International Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2022, Kingsway Charities Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kingsway Charities 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 12/2022, Kingsway Charities Inc generated $17.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (18.0%) each year. All expenses for the organization totaled $35.8m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Kingsway Charities Inc has awarded 745 individual grants totaling $270,872,220. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PRIMARY PURPOSE OF THE ORGANIZATION IS TO SUPPLY MEDICATIONS AND MEDICAL SUPPLIES TO MEDICAL MISSION TEAMS TRAVELING WORLDWIDE.
Describe the Organization's Program Activity:
THE PROGRAM PROVIDED MEDICATIONS AND MEDICAL SUPPLIES FOR SHIPMENT TO U.S. BASED MEDICAL MISSION TEAMS TRAVELING TO THIRD WORLD COUNTRIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Ann Blessing President | Officer | 40 | $126,500 |
Marybeth Blessing Dir | Trustee | 40 | $63,900 |
Susan Gregory Sorrell Dir | Trustee | 1 | $0 |
Jordan Gregory Dir | Trustee | 1 | $0 |
Kay Barker Dir | Trustee | 1 | $0 |
Benjamin Blessing Dir | 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 | $17,414,458 |
| Noncash contributions included in lines 1a–1f | $17,099,200 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $17,414,458 |
| Total Program Service Revenue | $9,400 |
| Investment income | $149,979 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$212,592 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $134,269 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,495,514 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $34,660,322 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $190,400 |
| Compensation of current officers, directors, key employees. | $81,872 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $389,333 |
| Pension plan accruals and contributions | $11,387 |
| Other employee benefits | $143,227 |
| Payroll taxes | $44,568 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,454 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,577 |
| Advertising and promotion | $0 |
| Office expenses | $18,165 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $82,872 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $51,843 |
| Insurance | $29,429 |
| All other expenses | $0 |
| Total functional expenses | $35,824,611 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $128,254 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,019,535 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,218,410 |
| Investments—publicly traded securities | $974,508 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,340,707 |
| Accounts payable and accrued expenses | $1,831 |
| 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 | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,831 |
| Net assets without donor restrictions | $4,338,876 |
| 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 | $4,340,707 |
Grants Awarded
Over the last fiscal year, Kingsway Charities Inc has awarded $29,686,470 in support to 140 organizations.
| Grant Recipient | Amount |
|---|---|
ADVANCING NATIVE MISSIONS PURPOSE: Global healthcare | $8,572 |
ALABAMA HONDURAN NETWORK PURPOSE: Global Healthcare | $63,158 |
AMONKWE PROGRESSIVE NATIONAL ORG PURPOSE: Global Healthcare | $20,121 |
ALPHA INTL PURPOSE: Global Healthcare | $8,593 |
ANN PREPARE LAVANI PURPOSE: Global Healthcare | $13,808 |
LUKE WORLD MISSION PURPOSE: Global healthcare | $23,534 |