Kingsway Charities 
The information on this page was last updated 5/11/2023. If you see errors or omissions, please email: [email protected]
Summary
The World Health Organization contends that at least 1.2 billion people globally are affected by "neglected tropical diseases, chronic disabling infections" caused by poverty, and weak health systems. This year alone nearly 1 million people will die from malaria, mostly children under five years old. Another 1.9 million will gradually waste away and perish because of intestinal parasites that could have been cured.
This work involves warehousing medications and medical supplies received from pharmaceutical donors and dispensing the donations to qualified medical teams serving the poor worldwide. While helping to meet the physical needs of these suffering populations, these medical teams also extend the healing love of Jesus Christ in all they do.
Contact information
Mailing address:
Kingsway Charities
1171 Commonwealth Avenue
Suite 101
Bristol, VA 24201
Website: kingswaycharities.org
Phone: (276) 466-3014
Email: [email protected]
Organization details
EIN: 541668650
CEO/President: Mr. James Gregory
Chairman: Mary Ann Blessing
Board size: 14
Founder: Mr. John Gregory
Ruling year: 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
Vision statement: A suffering world, transformed by God's provision
Statement of faith
Donor confidence score
Transparency grade
C
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: Relief and Development
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 5 of 1104 | 2 of 88 |
| Fund acquisition rating | | 60 of 1105 | 3 of 88 |
| Resource allocation rating | | 4 of 1105 | 1 of 88 |
| Asset utilization rating | | 29 of 1104 | 5 of 88 |
Financial ratios
| Funding ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 6% | 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 | 99% | 100% | 99% | 100% | 100% | 101% |
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 | 1% | 0% | 1% | 0% | 0% | -1% |
| Operating ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Program expense ratio Program expense ratio = Program services / Total expenses | 86% | 99% | 99% | 100% | 100% | 99% |
Spending ratio Spending ratio = Total expenses / Total revenue | 97% | 205% | 107% | 95% | 102% | 92% |
Program output ratio Program output ratio = Program services / Total revenue | 82% | 202% | 106% | 95% | 101% | 90% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 3% | -105% | -7% | 5% | -2% | 8% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 6% | -422% | -19% | 23% | -9% | 17% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 6% | 1% | 1% | 0% | 0% | 1% |
| Investing ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 1.51 | 8.25 | 2.98 | 4.43 | 5.68 | 1.85 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 1.23 | 1.39 | 1.06 | 1.05 | 1.06 | 1.06 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.89 | 11.47 | 3.15 | 4.65 | 6.02 | 1.96 |
| Liquidity ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Current ratio Current ratio = Total current assets / Total current liabilities | 17.01 | 1705.24 | 12793.30 | 8943.64 | 483296.62 | 0.00 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.06 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 5.82 | 1.05 | 3.81 | 2.58 | 1.99 | 6.11 |
| Solvency ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 8% | 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 | 60% | 12% | 34% | 23% | 18% | 54% |
Financials
| Balance sheet | |||||
| Assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| Cash | $128,254 | $313,277 | $1,040,868 | $1,401,437 | $4,799,068 |
| Receivables, inventories, prepaids | $2,019,535 | $19,578,149 | $23,088,566 | $15,594,525 | $17,014,224 |
| Short-term investments | $974,508 | $1,614,116 | $1,556,700 | $4,752,386 | $214,037 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $3,122,297 | $21,505,542 | $25,686,134 | $21,748,348 | $22,027,329 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Fixed assets | $1,218,410 | $1,233,959 | $1,287,547 | $1,336,838 | $1,358,226 |
| Other long-term assets | $0 | $0 | $0 | $0 | $0 |
| Total long-term assets | $1,218,410 | $1,233,959 | $1,287,547 | $1,336,838 | $1,358,226 |
| Total assets | $4,340,707 | $22,739,501 | $26,973,681 | $23,085,186 | $23,385,555 |
| Liabilities | 2022 | 2021 | 2020 | 2019 | 2018 |
| Payables and accrued expenses | $1,831 | $1,681 | $2,872 | $45 | $0 |
| Other current liabilities | $0 | $0 | $0 | $0 | $0 |
| Total current liabilities | $1,831 | $1,681 | $2,872 | $45 | $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 | $1,831 | $1,681 | $2,872 | $45 | $0 |
| Net assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| Without donor restrictions | $4,338,876 | $22,737,820 | $26,970,809 | $23,085,141 | $23,385,555 |
| With donor restrictions | $0 | $0 | $0 | $0 | $0 |
| Net assets | $4,338,876 | $22,737,820 | $26,970,809 | $23,085,141 | $23,385,555 |
| Revenues and expenses | |||||
| Revenue | 2022 | 2021 | 2020 | 2019 | 2018 |
| Total contributions | $17,414,458 | $62,975,537 | $125,688,914 | $128,306,233 | $47,450,478 |
| Program service revenue | $9,400 | $3,120 | $3,120 | $3,120 | $4,650 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | ($62,613) | $130,893 | ($389,243) | $193,544 | ($567,213) |
| Other revenue | $134,269 | $271,624 | $236,012 | $388,741 | $307,514 |
| Total other revenue | $81,056 | $405,637 | ($150,111) | $585,405 | ($255,049) |
| Total revenue | $17,495,514 | $63,381,174 | $125,538,803 | $128,891,638 | $47,195,429 |
| Expenses | 2022 | 2021 | 2020 | 2019 | 2018 |
| Program services | $35,331,482 | $67,169,989 | $118,881,620 | $130,499,638 | $42,699,473 |
| Management and general | $493,129 | $501,591 | $521,939 | $501,152 | $488,927 |
| Fundraising | $0 | $0 | $7,559 | $17,728 | $40,762 |
| Total expenses | $35,824,611 | $67,671,580 | $119,411,118 | $131,018,518 | $43,229,162 |
| Change in net assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| Surplus (deficit) | ($18,329,097) | ($4,290,406) | $6,127,685 | ($2,126,880) | $3,966,267 |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | ($18,329,097) | ($4,290,406) | $6,127,685 | ($2,126,880) | $3,966,267 |
Compensation
| Name | Title | Compensation |
| Mary Ann Blessing | President | $126,500 |
| MaryBeth Blessing | Dir | $63,900 |
Compensation data as of: 12/31/2022
Response from ministry
No response has been provided by this ministry.
The information below was provided to MinistryWatch by the ministry itself. It was last updated 5/11/2023. To update the information below, please email: [email protected]
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
Since 1994, Kingsway Charities has provided medications and supplies to more than 11,000 mission teams serving in 145 countries.
Through Operation Eradication, Kingsway Charities has distributed 14 million pills (two pills annually to seven million patients) in an effort to eliminate intestinal parasite disease in developing countries.
Since 1995, Kingsway Charities has received and distributed over $3 billion worth of medicines and supplies around the globe.