The Foundry Ministries Inc
- Assets
- $6.3m
- Revenue
- $8.9m
- Investments
- $0.0
- Employees
- 205
- Location
- Bessemer, AL
- Founding
- 10/1972
- Data as of
- 06/2022
- EIN
- 63-0624278
Organization Overview
The Foundry Ministries Inc is located in Bessemer, AL. The organization was established in 1972. According to its NTEE Classification (P28) the organization is classified as: Neighborhood Centers, under the broad grouping of Human Services and related organizations. As of 06/2022, Foundry Ministries Inc employed 205 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundry Ministries Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Foundry Ministries Inc generated $8.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $7.7m during the year ending 06/2022. While expenses have increased by 1.3% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION OPERATES A NON-PROFIT, CHRIST-CENTERED RESCUE MISSION AND LONG-TERM ADDICTION RECOVERY CENTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO RESTORE HOPE AND REBUILD THE LIVES OF THE ADDICTED AND DESTITUTE THROUGH CHRIST-CENTERED RECOVERY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edmund Perry Chairman | Trustee | 1 | $0 |
Eric Kerley Board Member | Trustee | 1 | $0 |
Craig Cecil Treasurer | Trustee | 1 | $0 |
Sherri Jackson Pereira Secretary | Trustee | 1 | $0 |
Anthony Bandura Board Member | Trustee | 1 | $0 |
Whit Debardeleben Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,584,719 |
| Investment income | $2 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$27,032 |
| Net Income from Fundraising Events | $658,888 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,931,425 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $478,883 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,390,240 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $173,017 |
| Payroll taxes | $221,296 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,575 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $78,126 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $86,791 |
| Advertising and promotion | $141,650 |
| Office expenses | $431,341 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,782,291 |
| Travel | $35,103 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,075 |
| Interest | $111,167 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $295,376 |
| Insurance | $236,343 |
| All other expenses | $0 |
| Total functional expenses | $7,656,405 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,458,912 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $30,751 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $305,975 |
| Prepaid expenses and deferred charges | $13,905 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $45,882 |
| Total assets | $6,292,436 |
| Accounts payable and accrued expenses | $579,492 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,228,830 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,445,261 |
| Total liabilities | $3,253,583 |
| Net assets without donor restrictions | $3,038,853 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $3,038,853 |