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

Show donor confidence score details

Transparency grade

C

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Relief and Development

CategoryRatingOverall rankSector rank
Overall efficiency rating5 of 11122 of 87
Fund acquisition rating62 of 11133 of 87
Resource allocation rating3 of 11131 of 87
Asset utilization rating33 of 11125 of 87

Financial ratios

Funding ratiosSector median20222021202020192018
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 ratiosSector median20222021202020192018
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 ratiosSector median20222021202020192018
Total asset turnover Total asset turnover =
Total expenses /
Total assets
1.518.252.984.435.681.85
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
1.241.391.061.051.061.06
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.9011.473.154.656.021.96
 
Liquidity ratiosSector median20222021202020192018
Current ratio Current ratio =
Total current assets /
Total current liabilities
16.591705.2412793.308943.64483296.620.00
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.060.000.000.000.000.00
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
5.841.053.812.581.996.11
 
Solvency ratiosSector median20222021202020192018
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
 
Assets20222021202020192018
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
 
Liabilities20222021202020192018
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 assets20222021202020192018
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
 
Revenue20222021202020192018
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
 
Expenses20222021202020192018
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 assets20222021202020192018
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

NameTitleCompensation
Mary Ann BlessingPresident$126,500
MaryBeth BlessingDir$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.


Needs