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 rating93 of 94019 of 160
Fund acquisition rating500 of 94288 of 160
Resource allocation rating101 of 94219 of 160
Asset utilization rating39 of 9405 of 160

Financial ratios

Funding ratiosSector median20202019201820172016
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
10%11%8%10%9%8%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
8%9%7%7%6%6%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
91%82%79%74%69%69%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
10%8%6%7%5%6%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
9%18%21%26%31%31%
 
Operating ratiosSector median20202019201820172016
Program expense ratio Program expense ratio =
Program services /
Total expenses
80%87%90%89%91%90%
Spending ratio Spending ratio =
Total expenses /
Total revenue
95%111%104%107%112%96%
Program output ratio Program output ratio =
Program services /
Total revenue
75%97%93%96%102%87%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
5%-11%-4%-7%-12%4%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
4%-65%-17%-24%-30%7%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
9%5%4%4%4%4%
 
Investing ratiosSector median20202019201820172016
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.581.531.611.491.561.23
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
3.767.009.9211.098.239.38
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
2.2410.6916.0016.5112.8311.52
 
Liquidity ratiosSector median20202019201820172016
Current ratio Current ratio =
Total current assets /
Total current liabilities
10.140.620.840.871.512.16
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.081.611.191.150.660.46
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
4.45-0.68-0.14-0.110.310.56
 
Solvency ratiosSector median20202019201820172016
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
10%76%61%57%42%32%
Debt ratio Debt ratio =
Debt /
Total assets
1%29%18%18%27%24%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
141%16%24%29%37%56%

Financials

Balance sheet
 
Assets20202019201820172016
Cash$398,037$208,457$208,391$385,151$349,184
Receivables, inventories, prepaids$353,726$319,894$298,345$232,895$249,390
Short-term investments$0$0$0$0$0
Other current assets$0$0$0$0$0
Total current assets$751,763$528,351$506,736$618,046$598,574
Long-term investments$0$0$0$0$0
Fixed assets$4,475,066$4,672,920$5,075,223$4,412,767$4,993,175
Other long-term assets$38,055$39,855$39,855$54,717$23,708
Total long-term assets$4,513,121$4,712,775$5,115,078$4,467,484$5,016,883
Total assets$5,264,884$5,241,126$5,621,814$5,085,530$5,615,457
 
Liabilities20202019201820172016
Payables and accrued expenses$484,079$530,168$459,807$261,897$245,860
Other current liabilities$725,000$96,423$124,961$148,150$31,557
Total current liabilities$1,209,079$626,591$584,768$410,047$277,417
Debt$1,532,690$944,700$1,007,477$1,393,049$1,326,673
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$1,277,055$1,619,015$1,634,860$318,125$166,892
Total long-term liabilities$2,809,745$2,563,715$2,642,337$1,711,174$1,493,565
Total liabilities$4,018,824$3,190,306$3,227,105$2,121,221$1,770,982
 
Net assets20202019201820172016
Without donor restrictions$1,240,500$2,050,820$2,394,709$2,964,309$3,120,365
With donor restrictions$5,560$0$0$0$724,110
Net assets$1,246,060$2,050,820$2,394,709$2,964,309$3,844,475
 
Revenues and expenses
 
Revenue20202019201820172016
Total contributions$5,907,950$6,424,476$5,752,722$4,886,740$4,927,821
Program service revenue$1,023,764$1,370,590$1,652,194$1,744,955$1,473,200
Membership dues$0$0$0$0$0
Investment income$11,989($26,662)$67($2,607)($82,550)
Other revenue$288,049$338,895$393,704$421,875$830,960
Total other revenue$1,323,802$1,682,823$2,045,965$2,164,223$2,221,610
Total revenue$7,231,752$8,107,299$7,798,687$7,050,963$7,149,431
 
Expenses20202019201820172016
Program services$6,986,708$7,579,163$7,484,022$7,208,968$6,216,795
Management and general$404,873$336,767$331,467$295,294$281,776
Fundraising$644,931$535,258$552,798$426,867$399,061
Total expenses$8,036,512$8,451,188$8,368,287$7,931,129$6,897,632
 
Change in net assets20202019201820172016
Surplus (deficit)($804,760)($343,889)($569,600)($880,166)$251,799
Other changes in net assets$0$0$0$0$0
Total change in net assets($804,760)($343,889)($569,600)($880,166)$251,799

Compensation

NameTitleCompensation
Micah AndrewsCEO, Ex-Officio$95,000

Compensation data as of: 6/30/2020


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