Better Business Bureau Report for
Kosair Charities

Better Business Bureau Report issued July 2016
Better Business Bureau Report expires July 2018


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: Kosair Shrine AAONMS
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, 2015, Kosair Charities's program expenses were:

  
Child care services 17,491,234
Total Program Expenses: $17,491,234
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Governance

              

Chief Executive : Walter R (Randy) Coe, President
Compensation*: 

Chair of the Board: Jerry Ward
Chair's Profession / Business Affiliation: Managing Director, SVN Ward Commercial Group (Commercial Real Estate)

Board Size: 25

Paid Staff Size: 19

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Fund Raising

              

Method(s) Used:

Direct mail, invitations to fund raising events, print advertisements, television, radio, grant proposals, internet, planned giving arrangements
Fund raising costs were 12% of related contributions. (Related contributions, which totaled $6,377,198, 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, 2015.

Ending net assets as reported below include $39,717,731 in unrestricted net assets, $7,347,647 in temporarily restricted net assets, and $131,019,471 in permanently restricted net assets.

Total assets as reported include $7,270,965 invested in property and equipment, net.




Source of Funds  
Realized gains on investments 12,007,401
Legacies and bequests 4,138,884
Interest and dividends 3,364,800
Contributions 1,894,513
Program service revenues 1,009,660
Special events, net 343,801
Change in value of split interest agreement 157,088
Other income 976
Loss on sale of assets -1,855
Appreciation (depreciation) of investments held in trust by others -990,471
Unrealized gains (losses) on investments -16,388,138
Total Income $5,536,659


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Uses of Funds as a % of Total Expenses

Programs: 90%  Fund Raising: 4%  Administrative: 6% 

Total income $5,536,659
Program expenses $17,491,234
Fund raising expenses 786,188
Administrative expenses 1,063,979
Total expenses $19,341,401
Expenses in Excess of Income (13,804,742)
Beginning net assets 191,889,591
Ending net assets 178,084,849
Total liabilities 80,323,161
Total assets $258,408,010


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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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