Kings Enterprises INC

Tax-deductible

Charlotte, NC501(c)(3)EmploymentEIN 27-2900928

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To feed the homeless and provide a job training program through a public restaurant.

501(c)(3) charity; gifts are tax-deductible.
96¢ of each $1 spent went to programs.
Run by 645 volunteers and 47 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 4
filings with a surplus
Average deficit $150K a year · 9% of revenue · last 4 filings
Concern: a surplus in 0 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.3 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $59K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$949K
344% of total assets
Concern: liabilities are 344% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 5 voting members
Looks good: 3 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.3M
+2% vs prior year
Spent
$2.4M
To programs
96%
Net assets
−$674K
By yearFY2020–FY2023
Revenue
$2.3M
FY2023▲ +2%
Revenue by fiscal year
FY2020$1.1M
FY2021$1.1M
FY2022$2.3M
FY2023$2.3M
Expenses
$2.4M
FY2023▲ +2%
Expenses by fiscal year
FY2020$1.4M
FY2021$1.2M
FY2022$2.4M
FY2023$2.4M
Net assets
−$674K
FY2023▼ -25%
Net assets by fiscal year
FY2020−$317K
FY2021−$468K
FY2022−$541K
FY2023−$674K

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023. IRS ruling in May 2011.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

96 cents of each dollar spent went to programs.

Program services 96% · $2.3M Management & general 4% · $95K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation
Treasurer
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Kings Enterprises INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes
  • Loans to or from officersSch L · Pt II4 listed

Programs and updates

Feeds the homeless and trains people for jobs through a public restaurant.

Provided by the organization

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1 program service account for $2.3M of program spending, described in the organization's own filed words · FY2023.
01

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.

$2.3Mprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 2 funders$59K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$2.3M
Ln 12
Fees for servicesLn 2g$2.1M
Gifts and grantsLn 1h$204K
Other incomeLn 4–11$6K
Money outPt IX
$2.4M
Ln 25
Programscol B$2.3M
Managementcol C$95K
Owns and owesPt X
−$674K
net assets · Ln 32
Cash and savingsLn 1–2$62K
Total assetsLn 16$276K
LiabilitiesLn 26$949K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$204K
Noncash giftsLn 1g$16K
Fees for servicesLn 2g$2.1M
Other incomeLn 4–11$6K
Total revenueLn 12$2.3M
Assets in detailPt X, end of year
CashLn 1$62K
Cash and savings togetherLn 1–2$62K
Land, buildings, equipmentLn 10c$165K
Other assetsLn 15$4K
Total assetsLn 16$276K
LiabilitiesLn 26$949K
Net assetsLn 32−$674K
OperationsPt I, VI
EmployeesI 547
VolunteersI 6645
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$57K$62K
Land, buildings, equipmentLn 10c$141K$165K
Total assetsLn 16$246K$276K
LiabilitiesLn 26$787K$949K
Net assetsLn 32−$541K−$674K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$195K$195K
Other salaries and wagesLn 7$755K$755K
Other employee benefitsLn 9$30K$30K
Payroll taxesLn 10$84K$84K
Management feesLn 11a$78K$78K
Accounting feesLn 11c$10K$10K
Other fees for servicesLn 11g$7K$7K$0$0
Advertising and promotionLn 12$48K$48K
Office expensesLn 13$61K$54K$7K
OccupancyLn 16$390K$390K
InterestLn 20$1K$1K
Depreciation, depletion and amortizationLn 22$38K$38K
InsuranceLn 23$28K$28K
Other expenses (24a–d)Ln 24$677K$677K
All other expensesLn 24e$0$0$0$0
Total functional expensesLn 25$2.4M$2.3M$95K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest Viewing $2.3M$2.4M−$60K−$674K 990 PDF
FY2022 $2.3M$2.4M−$73K−$541K 990 PDF
FY2021 $1.1M$1.2M−$151K−$468K 990 PDF
FY2020 $1.1M$1.4M−$315K−$317K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (4 parts)
Part VIII · Statement of revenue $2,341,979 across 6 lines filed
VIII-1f All other contributions, gifts and grants$203,807
VIII-1g Noncash contributions (included above)$16,195
VIII-1h Total contributions, gifts and grants$203,807
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,131,784$2,131,784
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $6,388$6,388
VIII-12 Total revenueRelated to mission $2,138,172 · Unrelated business $0 · Excluded from tax $0$2,341,979
Part IX · Statement of functional expenses $2,401,707 across 15 lines filed
IX-2 Grants to domestic individualsPrograms $195,107$195,107
IX-7 Other salaries and wagesPrograms $755,146$755,146
IX-9 Other employee benefitsPrograms $29,757$29,757
IX-10 Payroll taxesPrograms $84,087$84,087
IX-11a Management feesManagement $78,000$78,000
IX-11c Accounting feesManagement $10,341$10,341
IX-11g Other fees for servicesPrograms $6,704 · Management $0 · Fundraising $0$6,704
IX-12 Advertising and promotionPrograms $48,156$48,156
IX-13 Office expensesPrograms $53,778 · Management $7,017$60,795
IX-16 OccupancyPrograms $389,861$389,861
IX-20 InterestPrograms $1,103$1,103
IX-22 Depreciation, depletion and amortizationPrograms $38,200$38,200
IX-23 InsurancePrograms $27,614$27,614
IX-24 Other expenses (24a–d)Programs $676,836$676,836
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $2,306,349 · Management $95,358 · Fundraising $0$2,401,707
Part X · Balance sheet $275,734 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $57,323$62,484
X-4 Accounts receivableStart of year $15,844$7,515
X-8 Inventories for sale or useStart of year $26,568$33,891
X-9 Prepaid expenses and deferred chargesStart of year $1,261$277
X-10c Land, buildings and equipment, netStart of year $140,824$165,151
X-14 Intangible assetsStart of year $0$1,940
X-15 Other assetsStart of year $4,476$4,476
X-16 Total assetsStart of year $246,296$275,734
X-17 Accounts payable and accrued expensesStart of year $204,615$241,998
X-25 Other liabilitiesStart of year $156,954$106,651
X-26 Total liabilitiesStart of year $786,868$949,268
X-27 Net assets without donor restrictionsStart of year −$540,572−$673,534
X-32 Total net assets or fund balancesStart of year −$540,572−$673,534
X-33 Total liabilities and net assetsStart of year $246,296$275,734
Part XI · Reconciliation of net assets −$673,534 net assets at year end
XI-1 Total revenue$2,341,979
XI-2 Total expenses$2,401,707
XI-3 Revenue less expenses−$59,728
XI-4 Net assets at start of year−$540,572
XI-9 Other changes in net assets−$73,234
XI-10 Net assets at end of year−$673,534

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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