Kings College

Analysis

Kings College is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in May 1965, 61 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Kings College reported income of $13.6m and spending of $24.5m, spending 180% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $26.9m to $13.6m (-49%), an average of -16% a year. The sharpest change came in the year to August 2023, when income dropped by 29%. Over the whole period it spent 128% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Kings College sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 94th percentile within NY. Charities of a similar size with the same main cause include Trinity Christian Academy of Jacksonville Inc ($13.6m), Marin Primary & Middle School ($13.6m) and Arkansas Baptist College ($13.6m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 22% and program service revenue 75% of the total. Compensation of current officers, directors and key employees was $1.0m (4.3% of expenses). Other salaries and wages came to $6.0m. At year end it held assets of $43.4m against liabilities of $41.8m, net assets of $1.6m. It reported 298 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.