Better Business Bureau Report for
Kosair Charities

Better Business Bureau Report issued July 2014
Better Business Bureau Report expires June 2016


This BBB Accredited charity meets all 20 Standards for Charity Accountability and is a Seal Holder. Find out more...


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Charity Contact Information

Name: Kosair Charities
Address: 982 Eastern Parkway
  Louisville, KY 40217
Phone: 502-637-7696
Web Address: www.kosair.org
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Better Business Bureau Comments

Year, State Incorporated: 1923, Kentucky
Affiliates: Ancient Arabic Order of the Nobles of the Mystic Shrine
Stated Purpose: Kosair Charities purpose is to administer for charitable, benevolent, eleemosynary, educational, and civic purposes all funds turned over to it. Kosair Charities is located in Louisville, Ky., and provides assistance to organizations and individuals throughout Kentucky and southern Indiana.

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Evaluation Conclusions

              

Kosair Charities meets the 20 Standards for Charity Accountability.
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Programs

              

Kosair Charities provides for the operation and conduct of programs and services for the pediatric care and treatment of children. Programs and services include, but are not limited to, medical education, clinical study, publication of papers and articles, teaching the knowledge of chronic diseases and physical disabilities of children and the application of such knowledge to the prevention and treatment of such conditions. Kosair Charities also provides services, counseling and advice in connection with the care and treatment of children, to promote and provide scientific research in the pediatric field of medicine and to provide for the prevention and treatment of child abuse and neglect. Direct and indirect public support in the form of contributions, bequests, and gifts are added to an endowment fund, the earnings of which are used to achieve stated purposes.

For the fiscal year ended September 30, 2013, Kosair Charities's program expenses were:

  
Child care services 25,157,388
Total Program Expenses: $25,157,388
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Governance

              

Chief Executive : Randy Coe, President
Compensation*: 

Chair of the Board: Jerry Ward
Chair's Profession / Business Affiliation: Managing Director Sperry Van Ness Ward Commercial Group

Co-Chair of the Board : Wendell Wright

Chair's Profession / Business Affiliation: Pricipal Broker Wendell P. Wright & Associates

Board Size: 22

Paid Staff Size: 20

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Fund Raising

              

Method(s) Used:

Methods of fund raising include direct mail, invitations to fund raising events, print advertisements, television, radio, grant proposals, internet, and planned giving arrangements.
Fund raising costs were 15% of related contributions. (Related contributions, which totaled $7,754,313, are donations received as a result of fund raising activities.)
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Tax Status

              

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

              

The following information is based on Kosair Charities's audited financial statements for the fiscal year ended September 30, 2013.

Ending net assets as reported below include $38,232,128 in unrestricted net assets, $7,518,685 in temporarily restricted net assets, and $126,259,033 in permanently restricted net assets.

Total assets as reported include $7,683,013 invested in property and equipment, net.



Ending net assets as reported below include $10,849,347 in unrestricted net assets and $120,230,305 in permanently restricted net assets.

Total assets as reported include $3,721,435 invested in property and equipment, net.


Source of Funds  
Realized gain on investment 15,013,820
Unrealized gain on investments 9,519,286
Contributions 5,140,931
Interest & dividends 3,030,143
Legacies & bequests 2,101,455
Special Events 511,927
Program services revenue 479,635
Appreciation of investments 205,167
Change in value of split interest agreement -46,096
Other income -77,448
Total Income $35,878,820


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Uses of Funds as a % of Total Expenses

Programs: 93%  Fund Raising: 4%  Administrative: 3% 

Total income $35,878,820
Program expenses $25,157,388
Fund raising expenses 1,157,094
Administrative expenses 835,400
Total expenses $27,149,882
Income in Excess of Expenses 8,728,938
Beginning net assets 163,280,908
Other Changes in Net Assets 2,700,000
Ending net assets 172,009,846
Total liabilities 85,922,735
Total assets $257,932,581


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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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