Waterfront Rescue Mission 
The information in this column was provided to MinistryWatch by the ministry itself. It was last updated 8/10/2021. To update the information in this column, please email: info@ministrywatch.com
Summary
Waterfront Rescue Mission provides food, shelter, counseling, and a renowned recovery program to the homeless along the Gulf Coast. For 70 years, Waterfront Rescue Mission has been a beacon of hope for thousands of hungry and homeless men in Pensacola, Florida. Each night up to 150 homeless men come to the Mission, and are greeted with a nutritious meal, a warm shower, a clean change of clothes and a caring counselor who listens. Many of these men are at the end of their rope; the Mission is a knot that they can hold on to.
Contact information
Mailing address:
Waterfront Rescue Mission
PO Box 870
Pensacola, FL 32591
Website: waterfrontmission.org
Phone: 850-436-7868
Email: info@waterfrontmission.org
Organization details
EIN: 590838106
CEO/President: Clayton A. Romano
Chairman: Mark King
Board size: 9
Founder:
Year founded: 1964
Tax deductible: Yes
Fiscal year end: 12/31
Member of ECFA: Yes
Member of ECFA since: 1981
Purpose
Waterfront Rescue Mission believes that caring for the poor and homeless is not an option; it is a mandate from the Lord. Waterfront Rescue Mission is determined to provide compassionate help, individual attention, a plan for success, and most of all, knowledge about the Gospel.
Mission statement
Waterfront Rescue Mission strives to serve the Lord through all of its services. The aim of Waterfront Rescue Mission is to "Demonstrate God's Goodness by Providing Rescue and Recovery Services in Jesus' Name."
Statement of faith
We believe the Bible to be the inspired, the only infallible, authoritative Word of God.
We believe that there is one God, eternally existent in three persons: Father, Son and Holy Spirit.
We believe in the deity and humanity of Christ, in His virgin birth, in His sinless life, in His miracles, in His vicarious and atoning death through His blood shed, in His bodily resurrection, in His ascension to the right hand of the Father, in His present rule as Head of the Church and in His personal return in power and glory.
We believe that for the salvation of lost and sinful men, regeneration by the Holy Spirit is absolutely essential.
We believe in the present ministry of the Holy Spirit, by whose indwelling the Christian is enabled to live a godly life.
We believe in the resurrection of both the saved and the lost, they that are saved unto the resurrection of life and they that are lost unto the resurrection of damnation.
We believe in the spiritual unity of believers in our Lord Jesus Christ, with equality across race, gender and class differences.
Transparency grade
A
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: Rescue Missions/Homeless Shelters
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 145 of 940 | 29 of 160 |
| Fund acquisition rating | | 302 of 942 | 46 of 160 |
| Resource allocation rating | | 290 of 942 | 49 of 160 |
| Asset utilization rating | | 222 of 940 | 44 of 160 |
Financial ratios
| Funding ratios | Sector median | 2019 | 2018 | 2017 | 2016 | 2015 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 10% | 7% | 7% | 5% | 7% | 8% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 8% | 6% | 6% | 4% | 6% | 7% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 91% | 93% | 91% | 85% | 92% | 93% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 10% | 6% | 6% | 5% | 6% | 7% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 9% | 7% | 9% | 15% | 8% | 7% |
| Operating ratios | Sector median | 2019 | 2018 | 2017 | 2016 | 2015 |
Program expense ratio Program expense ratio = Program services / Total expenses | 80% | 83% | 81% | 80% | 81% | 80% |
Spending ratio Spending ratio = Total expenses / Total revenue | 95% | 99% | 99% | 94% | 115% | 108% |
Program output ratio Program output ratio = Program services / Total revenue | 75% | 82% | 81% | 75% | 93% | 86% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 5% | 1% | 1% | 6% | -15% | -8% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 4% | 1% | 1% | 6% | -13% | -7% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 9% | 11% | 12% | 15% | 14% | 13% |
| Investing ratios | Sector median | 2019 | 2018 | 2017 | 2016 | 2015 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.58 | 0.73 | 0.66 | 0.58 | 0.64 | 0.65 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 3.76 | 7.49 | 7.63 | 8.74 | 8.82 | 9.28 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 2.24 | 5.45 | 5.05 | 5.11 | 5.68 | 6.01 |
| Liquidity ratios | Sector median | 2019 | 2018 | 2017 | 2016 | 2015 |
Current ratio Current ratio = Total current assets / Total current liabilities | 10.14 | 2.59 | 2.65 | 3.44 | 2.63 | 2.62 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.08 | 0.39 | 0.38 | 0.29 | 0.38 | 0.38 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 4.45 | 1.35 | 1.48 | 1.67 | 1.31 | 1.23 |
| Solvency ratios | Sector median | 2019 | 2018 | 2017 | 2016 | 2015 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 10% | 23% | 24% | 33% | 36% | 34% |
Debt ratio Debt ratio = Debt / Total assets | 1% | 10% | 12% | 12% | 14% | 13% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 141% | 106% | 115% | 115% | 100% | 101% |
Financials
| Balance sheet | |||||
| Assets | 2019 | 2018 | 2017 | 2016 | 2015 |
| Cash | $875,702 | $835,547 | $1,091,233 | $768,884 | $397,170 |
| Receivables, inventories, prepaids | $1,277,942 | $1,299,753 | $999,295 | $1,268,514 | $1,748,021 |
| Short-term investments | $0 | $0 | $0 | $3,959 | $9,134 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $2,153,644 | $2,135,300 | $2,090,528 | $2,041,357 | $2,154,325 |
| Long-term investments | $223,218 | $217,312 | $580,097 | $569,301 | $535,904 |
| Fixed assets | $8,485,221 | $8,633,857 | $9,254,889 | $9,716,400 | $11,589,713 |
| Other long-term assets | $5,277,000 | $5,313,214 | $6,354,559 | $5,676,206 | $5,702,280 |
| Total long-term assets | $13,985,439 | $14,164,383 | $16,189,545 | $15,961,907 | $17,827,897 |
| Total assets | $16,139,083 | $16,299,683 | $18,280,073 | $18,003,264 | $19,982,222 |
| Liabilities | 2019 | 2018 | 2017 | 2016 | 2015 |
| Payables and accrued expenses | $786,166 | $755,828 | $571,322 | $734,751 | $777,201 |
| Other current liabilities | $45,116 | $50,575 | $36,646 | $40,691 | $45,333 |
| Total current liabilities | $831,282 | $806,403 | $607,968 | $775,442 | $822,534 |
| Debt | $1,624,464 | $1,903,607 | $2,177,418 | $2,462,136 | $2,597,386 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $1,238,448 | $1,230,475 | $3,232,791 | $3,212,143 | $3,464,977 |
| Total long-term liabilities | $2,862,912 | $3,134,082 | $5,410,209 | $5,674,279 | $6,062,363 |
| Total liabilities | $3,694,194 | $3,940,485 | $6,018,177 | $6,449,721 | $6,884,897 |
| Net assets | 2019 | 2018 | 2017 | 2016 | 2015 |
| Without donor restrictions | $12,388,660 | $12,272,810 | $12,182,471 | $11,460,383 | $13,064,845 |
| With donor restrictions | $56,229 | $86,388 | $79,425 | $93,160 | $32,480 |
| Net assets | $12,444,889 | $12,359,198 | $12,261,896 | $11,553,543 | $13,097,325 |
| Revenues and expenses | |||||
| Revenue | 2019 | 2018 | 2017 | 2016 | 2015 |
| Total contributions | $10,941,286 | $9,869,337 | $9,719,570 | $9,225,336 | $11,208,344 |
| Program service revenue | $508,853 | $491,434 | $441,046 | $204,674 | $228,779 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $113,384 | $219,289 | $310,509 | $292,172 | $136,947 |
| Other revenue | $261,883 | $297,700 | $916,558 | $323,965 | $469,331 |
| Total other revenue | $884,120 | $1,008,423 | $1,668,113 | $820,811 | $835,057 |
| Total revenue | $11,825,406 | $10,877,760 | $11,387,683 | $10,046,147 | $12,043,401 |
| Expenses | 2019 | 2018 | 2017 | 2016 | 2015 |
| Program services | $9,735,382 | $8,770,356 | $8,551,487 | $9,383,997 | $10,374,437 |
| Management and general | $1,246,810 | $1,334,922 | $1,621,345 | $1,567,292 | $1,720,650 |
| Fundraising | $759,032 | $673,766 | $508,222 | $639,377 | $861,122 |
| Total expenses | $11,741,224 | $10,779,044 | $10,681,054 | $11,590,666 | $12,956,209 |
| Change in net assets | 2019 | 2018 | 2017 | 2016 | 2015 |
| Surplus (deficit) | $84,182 | $98,716 | $706,629 | ($1,544,519) | ($912,808) |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $84,182 | $98,716 | $706,629 | ($1,544,519) | ($912,808) |
Compensation
| Name | Title | Compensation |
| Devin Simmons | President | $141,201 |
| Marsha Clark | VP of Financ | $91,844 |
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 8/10/2021. To update the information below, please email: info@ministrywatch.com
History
In April 2011, Waterfront Rescue Mission began construction on a new Rescue Shelter in Pensacola, Florida. Just over a year later, the new 32,000 sq. ft. shelter opened, providing nearly four times more space for sheltering and feeding the homeless, as well as beds for respite care and veterans who are waiting for placement by the VA. The new Herman Street property also features Day Resources which offers a safe place for homeless men, women and children to come during the day for assistance. These updated and expanded facilities allow the Mission to provide more and better services for the homeless and addicted and meet their growing needs.
Waterfront Rescue Mission has served thousands of hungry and homeless men since its founding in 1949. The Mission meets the basic physical needs of the men who come off the streets for a place to sleep.