King Edwards INC FY2023 filing

Tax-deductible

Towson, MD501(c)(3)Human ServicesEIN 52-2119078

Working with young people who are at risk of being institutionalized, incarcerated, and homeless

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $24K a year · 1% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 3.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $2K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$34K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 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
$2.0M
+23% vs prior year
Spent
$1.8M
To programs
82%
Net assets
$927K
By yearFY2020–FY2025
Revenue
$2.0M
FY2023▲ +23%
Revenue by fiscal year
FY2020$1.7M
FY2021$2.0M
FY2022$1.6M
FY2023$2.0M
FY2024$1.8M
FY2025$1.6M
Expenses
$1.8M
FY2023▲ +11%
Expenses by fiscal year
FY2020$1.6M
FY2021$1.7M
FY2022$1.7M
FY2023$1.8M
FY2024$2.0M
FY2025$1.8M
Net assets
$927K
FY2023▲ +17%
Net assets by fiscal year
FY2020$511K
FY2021$842K
FY2022$792K
FY2023$927K
FY2024$764K
FY2025$578K

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2003.

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

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $1.5M Management & general 18% · $331K

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

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Presid
$0Pt VII · Sec A
Intertim Sec
$0Pt VII · Sec A

Katrina Clayton’s $138K as Executive Director is at the 66th percentile of top reported officer pay among 3869 $1–10M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

See King Edwards 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Helps young people avoid institutions, jail, and homelessness.

Provided by the organization

This section is blank until King Edwards INC claims this page.

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2 program services account for $1.5M of program spending, described in the organization's own filed words · FY2022.
01

Youth Parent Program

A supervised community-based independent living service provided to young mothers (and fathers) with one child or a pregnant youth in her third trimester.

$932Kprogram expense
02

Independent Living Youth Program

The program provides rental assistance, training and support services to young adults aged 18-21 who are transitioning from foster care or residential group care to a community- based independent living.

$571Kprogram 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 1 funder$2K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$2.0M
Ln 12
Gifts and grantsLn 1h$2.0M
Money outPt IX
$1.8M
Ln 25
Programscol B$1.5M
Managementcol C$331K
Owns and owesPt X
$927K
net assets · Ln 32
Cash and savingsLn 1–2$549K
Total assetsLn 16$961K
LiabilitiesLn 26$34K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.0M
Government grantsLn 1e$2.0M
Total revenueLn 12$2.0M
Assets in detailPt X, end of year
CashLn 1$549K
Cash and savings togetherLn 1–2$549K
Land, buildings, equipmentLn 10c$10K
Total assetsLn 16$961K
LiabilitiesLn 26$34K
Net assetsLn 32$927K
OperationsPt I, VI
EmployeesI 58
Fiscal year endsHeaderJune
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$431K$549K
Land, buildings, equipmentLn 10c$16K$10K
Total assetsLn 16$824K$961K
LiabilitiesLn 26$32K$34K
Net assetsLn 32$792K$927K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$679K$439K$241K
Other employee benefitsLn 9$80K$56K$24K
Payroll taxesLn 10$51K$45K$6K
Accounting feesLn 11c$16K$15K$2K
Other fees for servicesLn 11g$37K$37K
Office expensesLn 13$19K$17K$2K
OccupancyLn 16$76K$68K$8K
TravelLn 17$5K$4K$428
Depreciation, depletion and amortizationLn 22$6K$6K
InsuranceLn 23$15K$14K$2K
Other expenses (24a–d)Ln 24$848K$846K$2K
All other expensesLn 24e$3K$3K
Total functional expensesLn 25$1.8M$1.5M$331K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.6M$1.8M−$186K$578K 990 PDF
FY2024 $1.8M$2.0M−$163K$764K 990 PDF
FY2023 Viewing $2.0M$1.8M$135K$927K 990 PDF
FY2022 $1.6M$1.7M−$47K$792K 990 PDF
FY2021 $2.0M$1.7M$331K$842K 990 PDF
FY2020 $1.7M$1.6M$73K$511K 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 $1,969,843 across 4 lines filed
VIII-1e Government grants$1,960,245
VIII-1f All other contributions, gifts and grants$9,598
VIII-1h Total contributions, gifts and grants$1,969,843
VIII-12 Total revenue$1,969,843
Part IX · Statement of functional expenses $1,834,482 across 12 lines filed
IX-7 Other salaries and wagesPrograms $438,506 · Management $240,825$679,331
IX-9 Other employee benefitsPrograms $56,393 · Management $23,511$79,904
IX-10 Payroll taxesPrograms $44,834 · Management $6,048$50,882
IX-11c Accounting feesPrograms $14,806 · Management $1,646$16,452
IX-11g Other fees for servicesManagement $37,087$37,087
IX-13 Office expensesPrograms $16,674 · Management $1,852$18,526
IX-16 OccupancyPrograms $68,312 · Management $7,590$75,902
IX-17 TravelPrograms $4,210 · Management $428$4,638
IX-22 Depreciation, depletion and amortizationManagement $5,999$5,999
IX-23 InsurancePrograms $13,752 · Management $1,528$15,280
IX-24 Other expenses (24a–d)Programs $845,820 · Management $2,086$847,906
IX-24e All other expensesManagement $2,575$2,575
IX-25 Total functional expensesPrograms $1,503,307 · Management $331,175 · Fundraising $0$1,834,482
Part X · Balance sheet $961,252 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $431,096$548,748
X-4 Accounts receivableStart of year $268,066$276,693
X-9 Prepaid expenses and deferred chargesStart of year $108,585$125,940
X-10c Land, buildings and equipment, netStart of year $15,870$9,871
X-16 Total assetsStart of year $823,617$961,252
X-17 Accounts payable and accrued expensesStart of year $31,832$34,106
X-26 Total liabilitiesStart of year $31,832$34,106
X-27 Net assets without donor restrictionsStart of year $791,785$927,146
X-32 Total net assets or fund balancesStart of year $791,785$927,146
X-33 Total liabilities and net assetsStart of year $823,617$961,252
Part XI · Reconciliation of net assets $927,146 net assets at year end
XI-1 Total revenue$1,969,843
XI-2 Total expenses$1,834,482
XI-3 Revenue less expenses$135,361
XI-4 Net assets at start of year$791,785
XI-10 Net assets at end of year$927,146

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

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