Fairhaven Rescue Mission 
The information in this column was provided to MinistryWatch by the ministry itself. It was last updated 11/30/2020. To update the information in this column, please email: info@ministrywatch.com
Summary
Fairhaven Rescue Mission serves the community by providing meals, clothing and shelter, and sharing hope through Jesus Christ.
Contact information
Mailing address:
Fairhaven Rescue Mission
260 Pike Street
Covington, KY 41011
Website: fairhavenmission.org
Phone: 859-491-1027
Email: dhammers@fairhavenmission.org
Organization details
EIN: 311099653
CEO/President: David Hammers
Chairman: Tracy O'Keefe
Board size: 7
Founder:
Year founded: 1984
Tax deductible: Yes
Fiscal year end: 12/31
Member of ECFA: No
Member of ECFA since:
Purpose
The homeless and hurting depend on Fairhaven to meet their physical and spiritual needs ... many have no one else. They come here looking for a helping hand and a loving heart.
Mission statement
To provide for the physical and spiritual needs of disadvantaged men, women, and children of northern Kentucky.
Statement of faith
We believe in one God, eternally existing Father, Son and Holy Spirit.
We believe in the virgin birth and absolute Deity of Jesus Christ.
We believe that Jesus Christ died on the cross as a substitutionary sacrifice for our sins and that His shed blood is the only means for the remission of sins.
We believe that the Scripture of the Old and New Testaments are the inspired Word of God and that they are the supreme, final and only authority of faith and life.
We believe that man was created by God in God's image; he sinned as recorded in Genesis, causing physical and spiritual death.
We believe sin entered into the world by Adam and as a result, the entire human race is born with a sinful nature and spiritually dead.
We believe that when a person receives by faith the Lord Jesus Christ, the Holy Spirit regenerates that person into the family of God.
We believe in a future Heaven for the saved and that it is not obtained as the result of good works, but we believe in the maintenance of good works, and holy living as a result of salvation.
Transparency grade
D
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: Rescue Missions/Homeless Shelters
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 129 of 817 | 34 of 150 |
| Fund acquisition rating | | 277 of 817 | 48 of 150 |
| Resource allocation rating | | 170 of 817 | 38 of 150 |
| Asset utilization rating | | 262 of 817 | 58 of 150 |
Financial ratios
| Funding ratios | Sector median | 2019 | 2018 | 2017 | 2016 | 2015 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 9% | 7% | 9% | 8% | 9% | 9% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 8% | 7% | 9% | 8% | 9% | 9% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 91% | 97% | 97% | 97% | 98% | 97% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 9% | 7% | 8% | 8% | 9% | 9% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 9% | 3% | 3% | 3% | 2% | 3% |
| Operating ratios | Sector median | 2019 | 2018 | 2017 | 2016 | 2015 |
Program expense ratio Program expense ratio = Program services / Total expenses | 79% | 85% | 83% | 85% | 84% | 83% |
Spending ratio Spending ratio = Total expenses / Total revenue | 97% | 102% | 109% | 101% | 100% | 97% |
Program output ratio Program output ratio = Program services / Total revenue | 76% | 87% | 90% | 86% | 84% | 81% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 3% | -2% | -9% | -1% | 0% | 3% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 3% | -3% | -10% | -2% | 0% | 2% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 10% | 9% | 8% | 8% | 8% | 8% |
| Investing ratios | Sector median | 2019 | 2018 | 2017 | 2016 | 2015 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.62 | 1.08 | 1.14 | 1.01 | 0.93 | 0.86 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 3.90 | 1.14 | 1.14 | 1.15 | 1.17 | 1.19 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 2.49 | 1.22 | 1.30 | 1.16 | 1.09 | 1.02 |
| Liquidity ratios | Sector median | 2019 | 2018 | 2017 | 2016 | 2015 |
Current ratio Current ratio = Total current assets / Total current liabilities | 9.92 | 23.11 | 12.99 | 16.12 | 14.69 | 13.53 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.08 | 0.04 | 0.08 | 0.06 | 0.07 | 0.07 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 4.13 | 9.39 | 8.52 | 9.72 | 10.30 | 10.90 |
| Solvency ratios | Sector median | 2019 | 2018 | 2017 | 2016 | 2015 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 9% | 4% | 7% | 5% | 6% | 6% |
Debt ratio Debt ratio = Debt / Total assets | 0% | 0% | 0% | 0% | 0% | 0% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 143% | 89% | 82% | 94% | 101% | 109% |
Financials
| Balance sheet | |||||
| Assets | 2019 | 2018 | 2017 | 2016 | 2015 |
| Cash | $1,151,579 | $1,200,998 | $1,293,177 | $1,297,475 | $1,288,513 |
| Receivables, inventories, prepaids | $0 | $0 | $0 | $250 | $0 |
| Short-term investments | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $1,151,579 | $1,200,998 | $1,293,177 | $1,297,725 | $1,288,513 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Fixed assets | $157,499 | $173,450 | $196,545 | $220,019 | $244,274 |
| Other long-term assets | $0 | $0 | $0 | $0 | $0 |
| Total long-term assets | $157,499 | $173,450 | $196,545 | $220,019 | $244,274 |
| Total assets | $1,309,078 | $1,374,448 | $1,489,722 | $1,517,744 | $1,532,787 |
| Liabilities | 2019 | 2018 | 2017 | 2016 | 2015 |
| Payables and accrued expenses | $49,835 | $92,464 | $80,237 | $88,361 | $95,201 |
| Other current liabilities | $0 | $0 | $0 | $0 | $0 |
| Total current liabilities | $49,835 | $92,464 | $80,237 | $88,361 | $95,201 |
| Debt | $0 | $0 | $0 | $0 | $0 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $0 | $0 | $0 | $0 | $0 |
| Total long-term liabilities | $0 | $0 | $0 | $0 | $0 |
| Total liabilities | $49,835 | $92,464 | $80,237 | $88,361 | $95,201 |
| Net assets | 2019 | 2018 | 2017 | 2016 | 2015 |
| Unrestricted | $0 | $1,281,984 | $1,409,485 | $1,429,383 | $1,437,586 |
| Temporarily restricted | $0 | $0 | $0 | $0 | $0 |
| Permanently restricted | $0 | $0 | $0 | $0 | $0 |
| Net assets | $1,259,243 | $1,281,984 | $1,409,485 | $1,429,383 | $1,437,586 |
| Revenues and expenses | |||||
| Revenue | 2019 | 2018 | 2017 | 2016 | 2015 |
| Total contributions | $1,327,755 | $1,392,551 | $1,432,516 | $1,373,479 | $1,314,668 |
| Program service revenue | $21,400 | $21,956 | $19,739 | $19,753 | $20,910 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $15,672 | $12,729 | $7,439 | $3,626 | $2,215 |
| Other revenue | $9,129 | $11,296 | $15,634 | $11,814 | $11,188 |
| Total other revenue | $46,201 | $45,981 | $42,812 | $35,193 | $34,313 |
| Total revenue | $1,373,956 | $1,438,532 | $1,475,328 | $1,408,672 | $1,348,981 |
| Expenses | 2019 | 2018 | 2017 | 2016 | 2015 |
| Program services | $1,190,290 | $1,301,702 | $1,265,444 | $1,177,538 | $1,091,582 |
| Management and general | $120,867 | $129,170 | $113,991 | $108,111 | $107,368 |
| Fundraising | $96,851 | $130,746 | $118,014 | $122,950 | $115,233 |
| Total expenses | $1,408,008 | $1,561,618 | $1,497,449 | $1,408,599 | $1,314,183 |
| Change in net assets | 2019 | 2018 | 2017 | 2016 | 2015 |
| Surplus (deficit) | ($34,052) | ($123,086) | ($22,121) | $73 | $34,798 |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | ($34,052) | ($123,086) | ($22,121) | $73 | $34,798 |
Compensation
| Name | Title | Compensation |
| David Hammers | Executive Director | $143,756 |
Compensation data as of: 12/31/2019
Response from ministry
No response has been provided by this ministry.
The information below was provided to MinistryWatch by the ministry itself. It was last updated 11/30/2020. To update the information below, please email: info@ministrywatch.com
History
Incorporated in 1984, Fairhaven Rescue Mission serves the Northern Kentucky / Greater Cincinnati area. Filling a vital community role, Fairhaven Rescue Mission provides Christ-centered programs and services that respond to the physical, spiritual and emotional needs of homeless and hurting men, women and children.