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

CategoryRatingOverall rankSector rank
Overall efficiency rating129 of 81734 of 150
Fund acquisition rating277 of 81748 of 150
Resource allocation rating170 of 81738 of 150
Asset utilization rating262 of 81758 of 150

Financial ratios

Funding ratiosSector median20192018201720162015
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 ratiosSector median20192018201720162015
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 ratiosSector median20192018201720162015
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.621.081.141.010.930.86
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
3.901.141.141.151.171.19
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
2.491.221.301.161.091.02
 
Liquidity ratiosSector median20192018201720162015
Current ratio Current ratio =
Total current assets /
Total current liabilities
9.9223.1112.9916.1214.6913.53
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.080.040.080.060.070.07
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
4.139.398.529.7210.3010.90
 
Solvency ratiosSector median20192018201720162015
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
 
Assets20192018201720162015
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
 
Liabilities20192018201720162015
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 assets20192018201720162015
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
 
Revenue20192018201720162015
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
 
Expenses20192018201720162015
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 assets20192018201720162015
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

NameTitleCompensation
David HammersExecutive 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.


Program accomplishments


Needs