The Foundry Ministries

The information in this column was provided to MinistryWatch by the ministry itself. It was last updated 12/22/2020. To update the information in this column, please email: info@ministrywatch.com


Summary

Since our inception, The Foundry Ministries has been God's work in progress. As the tragedies of substance abuse, broken families, poor choices and economic hardships bring an ever-increasing number of men, women and families to our doors, we continue to create more opportunities to share His hope and mercy with the homeless and broken.


Contact information

Mailing address:
The Foundry Ministries
PO Box 824
Bessemer, AL 35021

Website: foundryministries.com

Phone: 205-424-4673

Email: info@foundryministries.com


Organization details

EIN: 630624278

CEO/President: Micah Andrews

Chairman: Tom Mayfield

Board size: 16

Founder: Sam Reynolds

Year founded: 1972

Tax deductible: Yes

Fiscal year end: 06/30

Member of ECFA: No

Member of ECFA since:


Purpose

The Foundry helps hundreds of families each year through Christ-centered recovery. Permanently transformed lives through Christ-centered ministries is the vision behind our story and our process.


Mission statement

To restore hope and rebuild the lives of the addict, the ex-inmate and the homeless through Christ-centered Recovery, Reentry and Rescue.


Statement of faith

Transparency grade

C

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Rescue Missions/Homeless Shelters

CategoryRatingOverall rankSector rank
Overall efficiency rating52 of 85711 of 155
Fund acquisition rating339 of 85764 of 155
Resource allocation rating46 of 85713 of 155
Asset utilization rating26 of 8576 of 155

Financial ratios

Funding ratiosSector median20192018201720162015
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
10%8%10%9%8%12%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
8%7%7%6%6%13%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
91%79%74%69%69%107%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
9%6%7%5%6%9%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
9%21%26%31%31%-7%
 
Operating ratiosSector median20192018201720162015
Program expense ratio Program expense ratio =
Program services /
Total expenses
79%90%89%91%90%85%
Spending ratio Spending ratio =
Total expenses /
Total revenue
97%104%107%112%96%143%
Program output ratio Program output ratio =
Program services /
Total revenue
76%93%96%102%87%121%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
3%-4%-7%-12%4%-43%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
3%-17%-24%-30%7%-56%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
10%4%4%4%4%5%
 
Investing ratiosSector median20192018201720162015
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.621.611.491.561.231.24
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
3.789.9211.098.239.385.71
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
2.5016.0016.5112.8311.527.08
 
Liquidity ratiosSector median20192018201720162015
Current ratio Current ratio =
Total current assets /
Total current liabilities
10.280.840.871.512.162.33
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.081.191.150.660.460.43
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
4.23-0.14-0.110.310.560.97
 
Solvency ratiosSector median20192018201720162015
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
9%61%57%42%32%34%
Debt ratio Debt ratio =
Debt /
Total assets
1%18%18%27%24%23%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
141%24%29%37%56%53%

Financials

Balance sheet
 
Assets20192018201720162015
Cash$208,457$208,391$385,151$349,184$707,060
Receivables, inventories, prepaids$319,894$298,345$232,895$249,390$250,331
Short-term investments$0$0$0$0$0
Other current assets$0$0$0$0$0
Total current assets$528,351$506,736$618,046$598,574$957,391
Long-term investments$0$0$0$0$0
Fixed assets$4,672,920$5,075,223$4,412,767$4,993,175$4,483,799
Other long-term assets$39,855$39,855$54,717$23,708$27,231
Total long-term assets$4,712,775$5,115,078$4,467,484$5,016,883$4,511,030
Total assets$5,241,126$5,621,814$5,085,530$5,615,457$5,468,421
 
Liabilities20192018201720162015
Payables and accrued expenses$530,168$459,807$261,897$245,860$347,106
Other current liabilities$96,423$124,961$148,150$31,557$63,756
Total current liabilities$626,591$584,768$410,047$277,417$410,862
Debt$944,700$1,007,477$1,393,049$1,326,673$1,284,996
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$1,619,015$1,634,860$318,125$166,892$179,887
Total long-term liabilities$2,563,715$2,642,337$1,711,174$1,493,565$1,464,883
Total liabilities$3,190,306$3,227,105$2,121,221$1,770,982$1,875,745
 
Net assets20192018201720162015
Unrestricted$2,050,820$2,394,709$2,964,309$3,120,365$2,792,082
Temporarily restricted$0$0$0$724,110$800,594
Permanently restricted$0$0$0$0$0
Net assets$2,050,820$2,394,709$2,964,309$3,844,475$3,592,676
 
Revenues and expenses
 
Revenue20192018201720162015
Total contributions$6,424,476$5,752,722$4,886,740$4,927,821$5,107,325
Program service revenue$1,370,590$1,652,194$1,744,955$1,473,200$1,474,247
Membership dues$0$0$0$0$0
Investment income($26,662)$67($2,607)($82,550)($2,001,173)
Other revenue$338,895$393,704$421,875$830,960$171,972
Total other revenue$1,682,823$2,045,965$2,164,223$2,221,610($354,954)
Total revenue$8,107,299$7,798,687$7,050,963$7,149,431$4,752,371
 
Expenses20192018201720162015
Program services$7,579,163$7,484,022$7,208,968$6,216,795$5,774,056
Management and general$336,767$331,467$295,294$281,776$371,176
Fundraising$535,258$552,798$426,867$399,061$634,224
Total expenses$8,451,188$8,368,287$7,931,129$6,897,632$6,779,456
 
Change in net assets20192018201720162015
Surplus (deficit)($343,889)($569,600)($880,166)$251,799($2,027,085)
Other changes in net assets$0$0$0$0$0
Total change in net assets($343,889)($569,600)($880,166)$251,799($2,027,085)

Compensation

NameTitleCompensation
Micah AndrewsCEO, Ex-Officio$95,000

Compensation data as of: 6/30/2019


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 12/22/2020. To update the information below, please email: info@ministrywatch.com


History

1971 - Bessemer Rescue Mission is founded by Sam Reynolds. Rev. Bob Bell, a recovered alcoholic, is appointed the first executive director.

1978 - With the help of Board Chairman Rev. Gerald Price and his friends, Bessemer Rescue Mission constructs a 5,000-square-foot building.

1992 - Bessemer Rescue Mission opens a shelter for women.

1996 - Rev. Bill Heintz becomes executive director of the Bessemer Rescue Mission with a vision to provide a place for men and women addicted to drugs and alcohol to permanently transform their lives through the power of Jesus Christ.

1997 - First Alliance Church in Bessemer is purchased and renovated to provide additional beds for men in the long-term Recovery Program, marking the beginning of the City of Hope.

1998 - Auto Center opens.

2004 - City of Hope changes its name to The Foundry Rescue Mission and Recovery Center. The original mission building is renovated to include a commercial kitchen, dining room, and food pantry. The Foundry Thrift Store relocates and becomes Alabama's largest thrift store.

2005 - The Foundry merges with Re-Entry Ministries. The First Baptist Church of Bessemer is purchased to become the Foundry Women's Center.

2006 - The Foundry Medical Center opens.

2007 - The Foundry opens a new Worship Center, which includes a 600-seat auditorium for weekly worship services.

2008 - The Women's Dormitory opens, offering shelter for 52 women in the Recovery Program. The Foundry Farm opens near Cullman, AL as an extension of the Men's Recovery Program. The Education Center opens.

2010 - The former women's facility is renovated to provide transitional housing for up to 12 women who have completed the Recovery Program. The Foundry Dental Center opens.

2011 - The Foundry celebrates 40 years of reshaping lives. A new Foundry Thrift Store opens in Cullman.

2012 - The Foundry Thrift Store in Bessemer relocates to a larger space in Fairfield.

2014 - The name is updated to The Foundry Ministries. A collaboration forms with Changes Lives Christian Center (CLCC) in Birmingham.

2016 - The Foundry Farm expands to double capacity in Cullman. Micah Andrews becomes CEO.

2017 - The Foundry Thrift Store in Pelham is opened.


Program accomplishments


Needs