The Kings Enterprises Inc

Nonprofit profile at a glance

EIN
272900928
IRS 990 coverage
2012–2023
Forms available
Form 990 2023
Location
Charlotte, NC, USA
Phone
7043751990
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Employment Procurement Assistance

Official website

Reported finances

Revenue
$2,341,979
Expenses
$2,401,707
Assets
$275,734
Liabilities
$949,268

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

6 people listed

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

"the king's kitchen" will operate as a public restaurant, serving local, healthy, southern cuisine and the profits and proceeds from "the king's kitchen" will go toward feeding the poor. In addition, "the king's kitchen" will also operate "the king's kitchen restoration program." the program is a five-part training program to employ, train, and minister the gospel of jesus christ to homeless, the poor, troubled youth, rehab graduates and other members of our community who are in need of employment. "the king's kitchen" will operate in the spirit of excellence by training and equipping the whole man (spirit, soul, and body) thereby sending out developed leaders into our community. This will be done by working together with other local ministries, businesses, non-profits, and people of faith.

What it reported doing in 2023

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. We served an average of 172 hot dogs every Friday night as part of our street ministry to the homeless. We provided 8,507 meals for people attending church services and/or bible study. We provided a local Food Pantry and have served meals to other local ministries as needs arise. The King's Kitchen Restoration Job Training Program As mentioned in our mission statement, the restoration program's goal is to train people in the trades of the restaurant industry. What is unique about our program from others in the area is the real world experience combined with a Christian ministry. Restoring Place Church and the Charlotte Mecklenburg Dream Center underwrite the ministry for all training programs and bible studies in addition to mentoring the participants. The wages paid the participants from King's Kitchen and the cost of restaurant management is included in salaries and wages expense. Number of clients served in a year: Feeding Program - We served 33,703 meals through the feeding programs noted above. The King's Kitchen Restoration Program The program lasts approximately a year. Two people were trained in 2023.

Operating model

Revenue model
Other-operating. 91% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 92% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Revenue has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 94
  • Accountability: 65
  • Sustainability: 25
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.5%; rating input score 98
  • Program expense ratio: 96%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 60%; rating input score 60; 9th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -2.6%; rating input score 27; 27th percentile among comparable filings
  • Total-asset coverage ratio: 0.11; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: 3.44; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 92; 92nd percentile among comparable filings

Growth

  • Program expense growth: 0.2% per year; rating input score 100; 17th percentile among comparable filings
  • Revenue growth: -0.5% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: 2.6% per year; rating input score 100; 23rd percentile among comparable filings

Details

  • Where the money goes: 98.5% of revenue deployed · 96% of spending went to programs
  • Governance: 3 of 5 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $2.3M in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 12 filing years from 2012 to 2023
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 4 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 27/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.