Kings Enterprises Inc

Analysis

Kings Enterprises Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in May 2011, 15 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Kings Enterprises Inc reported income of $2.3m and spending of $2.4m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.8m to $2.3m (+28%), an average of +6.4% a year. The sharpest change came in the year to December 2022, when income rose by 115%. Over the whole period it spent 108% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Kings Enterprises Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within NC. Charities of a similar size with the same main cause include American Agape Foundation Inc ($2.3m), Strong Towns ($2.3m) and Brown Hope ($2.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 8.7% and program service revenue 91% of the total. Other salaries and wages came to $755k. At year end it held assets of $276k against liabilities of $949k, net assets of -$674k. It reported 108 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.