Re:Center Ministries

Summary

Re:Center is an organization dedicated to the Christian belief that we have a duty to help those in need. In our case, we rely on the gospel to help prevent homelessness, provide relief to the homeless, and rehabilitate the homeless population by repairing their relationship with Christ.


Contact information

Mailing address:
Re:Center Ministries
733 East Jefferson Street
Louisville, KY 40202

Website: recenterministries.org

Phone: 502-584-6543

Email: alexa@recenterministries.org


Organization details

EIN: 611328488

CEO/President: Cory Bledsoe

Chairman: Alex Nolan

Board size: 4

Founder: Steve P. Holcombe

Year founded: 1998

Tax deductible: Yes

Fiscal year end: 09/30

Member of ECFA: Yes

Member of ECFA since: 2016


Purpose

We strive to meet the physical and spiritual needs of those around us.


Mission statement

We reconcile homeless and hurting people to God, family, and community by the power of Christ in partnership with the local church.


Statement of faith

We are committed to and guided by the whole counsel of God as revealed in the Bible. Additionally, our people and our programs adhere to the basic tenants of the Southern Baptist Convention's Baptist Faith and Message 2000.

Transparency grade

This ministry has not been assigned a transparency grade.

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Rescue Missions/Homeless Shelters

CategoryRatingOverall rankSector rank
Overall efficiency rating580 of 58641 of 42
Fund acquisition rating560 of 58639 of 42
Resource allocation rating539 of 58641 of 42
Asset utilization rating498 of 58624 of 42

Financial ratios

Funding ratiosMedian % for
all ministries in
MW database
2017201620152014
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
8%21%22%13%9%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
6%19%21%13%9%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
94%91%96%98%95%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
6%17%21%29%12%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
6%9%4%2%5%
 
Operating ratiosMedian % for
all ministries in
MW database
2017201620152014
Program expense ratio Program expense ratio =
Program services /
Total expenses
82%70%62%47%56%
Spending ratio Spending ratio =
Total expenses /
Total revenue
98%114%98%45%71%
Program output ratio Program output ratio =
Program services /
Total revenue
80%79%61%21%40%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
2%-14%2%55%29%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
2%-6%1%40%17%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
11%13%17%24%32%
 
Investing ratiosMedian measure
for all ministries
in MW database
2017201620152014
Total asset turnover Total asset turnover =
Total expenses /
Total assets
1.070.400.300.320.39
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
1.693.082.771.974.88
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
2.181.250.830.631.89
 
Liquidity ratiosMedian measure
for all ministries
in MW database
2017201620152014
Current ratio Current ratio =
Total current assets /
Total current liabilities
8.7912.4516.7453.2490.07
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.110.080.060.020.01
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
4.718.8613.6418.656.28
 
Solvency ratiosMedian % for
all ministries in
MW database
2017201620152014
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
10%12%12%1%7%
Debt ratio Debt ratio =
Debt /
Total assets
0%10%10%0%7%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
75%217%295%309%239%

Financials

Balance sheet
 
Assets2017201620152014
Cash$682,460$612,707$468,767$275,835
Receivables, inventories, prepaids$94,068$295,094$646,320$11,125
Short-term investments$0$0$0$0
Other current assets$0$0$0$0
Total current assets$776,528$907,801$1,115,087$286,960
Long-term investments$0$0$0$0
Fixed assets$1,613,089$1,601,620$1,082,629$1,113,262
Other long-term assets$1,983$1,983$0$0
Total long-term assets$1,615,072$1,603,603$1,082,629$1,113,262
Total assets$2,391,600$2,511,404$2,197,716$1,400,222
 
Liabilities2017201620152014
Payables and accrued expenses$62,377$54,225$20,946$3,186
Other current liabilities$0$0$0$0
Total current liabilities$62,377$54,225$20,946$3,186
Debt$233,974$244,887$0$98,378
Due to (from) affiliates$0$0$0$0
Other long-term liabilities$0$0$0$0
Total long-term liabilities$233,974$244,887$0$98,378
Total liabilities$296,351$299,112$20,946$101,564
 
Net assets2017201620152014
Unrestricted$1,404,258$1,392,242$1,266,671$0
Temporarily restricted$690,991$820,050$910,099$0
Permanently restricted$0$0$0$0
Net assets$2,095,249$2,212,292$2,176,770$1,298,658
 
Revenues and expenses
 
Revenue2017201620152014
Total contributions$775,813$740,919$1,540,566$720,310
Program service revenue$68,237$20,940$22,125$25,883
Membership dues$0$0$0$0
Investment income$696$639$39$2,071
Other revenue$5,917$5,541$4,400$11,296
Total other revenue$74,850$27,120$26,564$39,250
Total revenue$850,663$768,039$1,567,130$759,560
 
Expenses2017201620152014
Program services$674,596$466,000$330,956$305,803
Management and general$130,430$125,610$170,810$171,095
Fundraising$162,680$159,579$202,252$65,452
Total expenses$967,706$751,189$704,018$542,350
 
Change in net assets2017201620152014
Surplus (deficit)($117,043)$16,850$863,112$217,210
Other changes in net assets$0$0$0$0
Total change in net assets($117,043)$16,850$863,112$217,210

Response from ministry

No response has been provided by this ministry.


History

Founded by Steve P. Holcombe, a converted riverboat gambler and double-murderer, Re:Center began in a small room near City Hall where free meals and biblical teaching and counseling were offered to homeless and hurting people in our city. From the very beginning, we have been devoted to breaking the chains of homelessness and other life-dominating issues through the power of the gospel. 1881 - Steve P. Holcombe founds The Holcombe Mission. Each day, people come to the ministry for a meal and to hear Holcombe teach from the Bible. 1885 - The ministry is gifted an old mansion from the City of Louisville. The ministry relocates and expands its services to provide overnight care for men, women, and children. 1886 - The Holcombe Mission becomes Union Gospel Mission. 1943 - The ministry almost goes bankrupt. The Louisville Regional Baptist Association (then the Long Run Baptist Association) intervenes to protect the ministry from closing. 1944 - Union Gospel Mission becomes Central Baptist Mission. 1964 - Central Baptist Mission is renamed Jefferson Street Baptist Center after it merges with two church congregations and relocates to its current location. The ministry shifts from providing overnight care to focusing on daytime programs, including kids' camps, senior activities, and a soup kitchen. 1996 - The church congregation moves out of the facility. The ministry returns to being a parachurch organization that focuses exclusively on caring for people who are homeless and hurting. 1997 - The Louisville Baptist Regional Association (then the Long Run Baptist Association) votes to reestablish Jefferson Street Baptist Center as an independent 501c3. Jefferson Street Baptist Center establishes its own board of directors and bylaws but the association continues to play a crucial role in ministry operations. 2000 - The sanctuary and classrooms are converted into 25 simple, overnight living quarters for men. 2001 - In partnership with the U.S. Department of Housing and Urban Development, the ministry expands its facility to create 11 on-site apartments for men with a history of addiction and a diagnosed mental illness or other disability. 2009 - The ministry severs ties with approximately $90,000 in government funding - approximately 19% of its budget at the time - to reclaim its commitment to proclaiming the gospel through its programs. 2012 - Although the ministry experiences its most difficult financial season in 70 years, the year concludes with the ministry doubling its previous fundraising record. For the first time in its history, the ministry raises more than $1 million to care for people who are homeless and hurting. 2013 - The ministry joins Citygate Network (then the Association of Gospel Rescue Missions), a collective of 300+ gospel-centered organizations serving the homeless in North America. The ministry breaks ground on a $175,000 renovation to its Drop-In Program facilities and the residential LifeChange Program serves more people than ever. 2014 - In September, Jefferson Street Baptist Center becomes Louisville Rescue Mission. 2015 - The board of directors establishes the Holcombe Mercy Ministry Award to honor an individual or company each year who has made a substantial impact on the ministry. 2016 - The ministry earns the highly-coveted accreditation with the Evangelical Council for Financial Accountability. 2017 - In March, the ministry opens Thrift 'n' Thrive, its first social enterprise. Over the course of the summer, the ministry also begins taking steps to provide services through a new campus just across the river in Southern Indiana. 2018 - In September, Louisville Rescue Mission changes its name to Re:Center Ministries to facilitate the launch of a new campus in Southern Indiana. The ministry is financially strong and earns accreditation with the Better Business Bureau.


Program accomplishments


Needs