Springs Rescue Mission 
The information in this column was provided to MinistryWatch by the ministry itself. It was last updated 12/21/2020. To update the information in this column, please email: info@ministrywatch.com
Summary
While we seek to meet the immediate needs of our homeless neighbors, our ultimate goal is to provide the support and tools necessary to create lasting change. Sometimes, with some patience, faith, and a lot of love, we see lives completely transformed.
Contact information
Mailing address:
5 W. Las Vegas Street
Colorado Springs, CO 80903
Website: springsrescuemission.org/
Phone: (719) 632-1822
Email: Info@SpringsRescueMission.org
Organization details
EIN: 841340824
CEO/President: Larry Yonker
Chairman: Mr. Mark White
Board size: 13
Founder: Paul & Marilyn Vyzourek
Year founded: 1996
Tax deductible: Yes
Fiscal year end: 06/30
Member of ECFA: Yes
Member of ECFA since: 2005
Purpose
To see lives transformed and filled with hope as our community works together to fight homelessness, poverty and addiction.
Mission statement
Because of our love for and obedience to God, our mission is to mobilize the community to provide Housing, Health and Work services.
Statement of faith
Springs Rescue Mission uses the Nicene Creed as its statement of faith: We believe in one God, the Father, the Almighty, maker of heaven and earth, of all that is seen and unseen. We believe in one Lord, Jesus Christ, the only Son of God, eternally begotten of the Father, God from God, Light from Light, true God from true God, begotten, not made, one in Being with the Father. Through him all things were made. For us men and for our salvation he came down from heaven: by the power of the Holy Spirit he was born of the Virgin Mary, and became man. For our sake he was crucified under Pontius Pilate, he suffered, died, and was buried. On the third day he rose again in fulfillment of the Scriptures; he ascended into heaven and is seated at the right hand of the Father. He will come again in glory to judge the living and the dead, and his kingdom will have no end. We believe in the Holy Spirit, the Lord, the giver of life, who proceeds from the Father and the Son. With the Father and the Son he is worshiped and glorified. He has spoken through the Prophets. We believe in one holy catholic and apostolic Church. We acknowledge one baptism for the forgiveness of sins. We look for the resurrection of the dead and the life of the world to come. Amen.
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 | | 411 of 913 | 80 of 160 |
| Fund acquisition rating | | 289 of 915 | 45 of 160 |
| Resource allocation rating | | 440 of 915 | 75 of 160 |
| Asset utilization rating | | 573 of 913 | 115 of 160 |
Financial ratios
| Funding ratios | Sector median | 2020 | 2019 | 2018 | 2017 | 2016 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 10% | 7% | 8% | 8% | 6% | 11% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 9% | 7% | 7% | 8% | 6% | 11% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 91% | 96% | 96% | 97% | 98% | 98% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 10% | 9% | 8% | 8% | 9% | 14% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 9% | 4% | 4% | 3% | 2% | 2% |
| Operating ratios | Sector median | 2020 | 2019 | 2018 | 2017 | 2016 |
Program expense ratio Program expense ratio = Program services / Total expenses | 79% | 80% | 82% | 79% | 77% | 71% |
Spending ratio Spending ratio = Total expenses / Total revenue | 96% | 76% | 99% | 92% | 65% | 77% |
Program output ratio Program output ratio = Program services / Total revenue | 76% | 61% | 81% | 73% | 50% | 54% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 4% | 24% | 1% | 8% | 35% | 23% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 3% | 22% | 1% | 8% | 48% | 44% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 9% | 11% | 11% | 13% | 14% | 15% |
| Investing ratios | Sector median | 2020 | 2019 | 2018 | 2017 | 2016 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.58 | 0.50 | 0.72 | 0.71 | 0.65 | 1.00 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 3.76 | 6.83 | 6.01 | 13.52 | 11.36 | 10.72 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 2.26 | 3.40 | 4.34 | 9.59 | 7.41 | 10.73 |
| Liquidity ratios | Sector median | 2020 | 2019 | 2018 | 2017 | 2016 |
Current ratio Current ratio = Total current assets / Total current liabilities | 10.19 | 3.13 | 5.22 | 2.09 | 1.23 | 2.68 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.08 | 0.32 | 0.19 | 0.48 | 0.81 | 0.37 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 4.45 | 2.40 | 2.24 | 0.65 | 0.31 | 0.70 |
| Solvency ratios | Sector median | 2020 | 2019 | 2018 | 2017 | 2016 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 10% | 29% | 27% | 27% | 27% | 33% |
Debt ratio Debt ratio = Debt / Total assets | 1% | 24% | 24% | 23% | 18% | 26% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 141% | 143% | 101% | 103% | 112% | 67% |
Financials
| Balance sheet | |||||
| Assets | 2020 | 2019 | 2018 | 2017 | 2016 |
| Cash | $3,231,909 | $2,855,904 | $746,251 | $1,129,127 | $403,650 |
| Receivables, inventories, prepaids | $444,634 | $330,266 | $637,007 | $363,354 | $492,481 |
| Short-term investments | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $3,676,543 | $3,186,170 | $1,383,258 | $1,492,481 | $896,131 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Fixed assets | $18,258,715 | $15,732,354 | $17,074,008 | $15,458,744 | $8,680,484 |
| Other long-term assets | $3,166,475 | $241,475 | $241,475 | $0 | $32,500 |
| Total long-term assets | $21,425,190 | $15,973,829 | $17,315,483 | $15,458,744 | $8,712,984 |
| Total assets | $25,101,733 | $19,159,999 | $18,698,741 | $16,951,225 | $9,609,115 |
| Liabilities | 2020 | 2019 | 2018 | 2017 | 2016 |
| Payables and accrued expenses | $1,076,571 | $511,415 | $561,393 | $1,209,527 | $333,937 |
| Other current liabilities | $98,879 | $98,879 | $98,879 | $0 | $0 |
| Total current liabilities | $1,175,450 | $610,294 | $660,272 | $1,209,527 | $333,937 |
| Debt | $5,984,621 | $4,577,805 | $4,252,770 | $3,081,294 | $2,536,837 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $76,843 | $73,125 | $69,581 | $286,204 | $282,985 |
| Total long-term liabilities | $6,061,464 | $4,650,930 | $4,322,351 | $3,367,498 | $2,819,822 |
| Total liabilities | $7,236,914 | $5,261,224 | $4,982,623 | $4,577,025 | $3,153,759 |
| Net assets | 2020 | 2019 | 2018 | 2017 | 2016 |
| Without donor restrictions | $14,924,642 | $12,964,123 | $11,359,992 | $8,794,693 | $4,098,269 |
| With donor restrictions | $2,940,177 | $934,652 | $2,356,126 | $3,579,507 | $2,357,087 |
| Net assets | $17,864,819 | $13,898,775 | $13,716,118 | $12,374,200 | $6,455,356 |
| Revenues and expenses | |||||
| Revenue | 2020 | 2019 | 2018 | 2017 | 2016 |
| Total contributions | $15,863,474 | $13,481,240 | $13,930,810 | $16,650,018 | $12,246,703 |
| Program service revenue | $518,007 | $450,500 | $398,470 | $355,845 | $274,415 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $3,372 | $116,108 | $32,181 | $11,380 | $9,491 |
| Other revenue | $80,657 | ($52,214) | $32,364 | ($44,914) | ($63,428) |
| Total other revenue | $602,036 | $514,394 | $463,015 | $322,311 | $220,478 |
| Total revenue | $16,465,510 | $13,995,634 | $14,393,825 | $16,972,329 | $12,467,181 |
| Expenses | 2020 | 2019 | 2018 | 2017 | 2016 |
| Program services | $10,021,882 | $11,309,898 | $10,483,296 | $8,462,210 | $6,783,236 |
| Management and general | $1,361,886 | $1,462,896 | $1,663,327 | $1,589,612 | $1,479,388 |
| Fundraising | $1,115,697 | $1,040,183 | $1,125,051 | $1,001,663 | $1,353,556 |
| Total expenses | $12,499,465 | $13,812,977 | $13,271,674 | $11,053,485 | $9,616,180 |
| Change in net assets | 2020 | 2019 | 2018 | 2017 | 2016 |
| Surplus (deficit) | $3,966,045 | $182,657 | $1,122,151 | $5,918,844 | $2,851,001 |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $3,966,045 | $182,657 | $1,122,151 | $5,918,844 | $2,851,001 |
Compensation
| Name | Title | Compensation |
| Larry Yonker | CEO | $157,512 |
| Terry Anderson | COO | $133,734 |
| Travis Williams | CDO | $110,927 |
| Matthew Yeadon | VP Finance | $82,687 |
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 12/21/2020. To update the information below, please email: info@ministrywatch.com
History
In 1996, our founders began providing sandwiches to homeless people in Colorado Springs in parks and under bridges. At the same time, they began inviting young homeless couples to stay in their home to give them a head start on life-change. Soon after, they opened a food pantry in one room of a small building. These humble beginnings rapidly grew into a wide range of programs intended to serve the 27,000 households living below the poverty line in the Pikes Peak region.
Today, we maintain a Four Star "Exceptional Charity" rating with Charity Navigator and have received awards for excellence from the El Pomar Foundation in its human services category, an award for collaboration from Pikes Peak United Way in 2015, recognition for invaluable community contributions in the House of Representatives from Congressman Doug Lamborn, and endorsements from three Colorado Springs Mayors, Springs Rescue Mission's unique offering of relief and rehabilitation programs is a recognized and invaluable part of the Colorado Springs community.
Program accomplishments
We're on a mission to help our neighbors in the Pikes Peak Region find hope by providing for those in need. Last year we helped with:
204,905 meals
3,219 homeless men and women sheltered
58,123 job training hours
4,801 case management sessions