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Nonprofiteer
← THE KINGS FOUNDATION AMERICA INC

Form 990 for tax year 2023

Filed by THE KINGS FOUNDATION AMERICA INC.

Totals

Total revenue
$1,495,000
Total expenses
$2,424,233
Contributions and grants received
$1,495,000
Grants paid
$2,375,000
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$38,255
Total liabilities, end of year
$31,029
Net assets or fund balances, end of year
$7,226
Program services expenses (Part IX)
$2,411,780
Management and general expenses
$12,453
Fundraising expenses
$0
Program service expenses (Part III)
$2,411,780

Program services were 99.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $1,495,000

Functional expenses

Part IX, the statement of functional expenses.

  • 3 · Grants to foreign organizations and individuals

    total $2,375,000 · program services $2,375,000

  • 11b · Fees: legal

    total $37,307 · program services $36,780 · management and general $527

  • 11c · Fees: accounting

    total $11,000 · management and general $11,000

  • 24a · Other expenses: BANK FEES

    total $926 · management and general $926

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $11,090 · end of year $38,150

  • 3 · Pledges and grants receivable

    beginning of year $1,000,000 · end of year $105

  • 17 · Accounts payable and accrued expenses

    beginning of year $74,631 · end of year $31,029

  • 27 · Net assets without donor restrictions

    beginning of year $936,459 · end of year -$42,774

  • 28 · Net assets with donor restrictions

    end of year $50,000

Mission and programs · 2023

Mission

THE KING'S FOUNDATION AMERICA PURPOSE IS TO RAISE FUNDS FROM UNITED STATES BASED PHILANTHROPISTS WHO ARE INTERESTED IN SUPPORTING THE CHARITABLE OBJECTIVES OF THE KING'S FOUNDATION, EDUCATION IN TRADITIONAL ARTS AND CRAFTS, HERITAGE LED REGENERATION AND FURTHERING COMMUNITIES.

  • THE FOUNDATION'S PURPOSE IS TO RAISE FUNDS TO FURTHER THE CHARITABLE OBJECTIVES OF THE KING'S FOUNDATION (FORMERLY THE PRINCE'S FOUNDATION). IT SUCCEEDED IN THIS OBJECTIVE BY RAISING $1,495,000 OF FUNDS AND DISTRIBUTING $2,375,000 OF FUNDS IN THE FINANCIAL YEAR 2023/2024. THE FOUNDATION AIMS TO FURTHER RAISE FUNDS ON AN ONGOING BASIS TO ACHIEVE ITS OBJECTIVES WHICH WILL ALSO FURTHER THE CHARITABLE OBJECTS OF THE KING'S FOUNDATION.

    Expenses $2,411,780 · Grants $2,375,000

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dame Susan Bruce

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    0.5 + 10 related

  • Mr Benjamin James

    VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    0.5 + 10 related

  • Mrs Emily Cherrington

    TREASURER

    Total calculated
    $210,796
    From this org
    $0
    From related orgs
    $181,139
    Other
    $29,657
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $181,139 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,244 related
    Nontaxable benefits
    $0 + $22,413 related
    Filer's total
    $0 + $210,796 related

  • Mr Joseph Casion

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5 + 10 related

  • Mr Kieran Ferguson

    CHIEF FINANCIAL OFFICER

    Total calculated
    $206,260
    From this org
    $0
    From related orgs
    $177,269
    Other
    $28,991
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $177,269 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $21,900 related
    Nontaxable benefits
    $0 + $7,091 related
    Filer's total
    $0 + $206,260 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • THE KING'S FOUNDATION

    CREATING COMMUNITIES FOR A MORE SUSTAINABLE WORLD · UK

Provenance

Return type
form_990
Tax year
2023
Filed
14 August 2024
IRS schema version
2023v5.1
Source object
202432279349302953

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