Bread of Life Ministries Inc

Nonprofit profile at a glance

EIN
222717615
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Augusta, ME, USA
Phone
2076263434
Rating
87
Verdict
STRONG
Rating confidence
Moderate
Sector
Homeless Shelters

Reported finances

Revenue
$2,309,850
Expenses
$2,235,563
Assets
$5,446,367
Liabilities
$1,372,250

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • JESSICA WILBUR (PRESIDENT)

Highest reported compensation

  • VICTORIA ABBOTT (EXECUTIVE DI): $124,705 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Bread of life ministries feeds the hungry, shelters the homeless, and provides services that help people change their lives and take personal responsibility. God calls us to minister to one another and assist those in need.

What it reported doing in 2024

Shelter - started in 1986, the homeless shelter offers a warm, welcoming, and safe facility to those needing shelter. There are currently 40 family shelter beds, 14 veteran shelter beds and 101 units of housing. Currently we see a mix of families, couples, single parents with children, and singles. -the family shelter accommodates 26 beds and there are unique occasions where we will put someone on the couch for a special need. We commonly see 8,700 bed days per year for occupancy. This number comes from adding up the number of beds that are filled each night for a calendar year. -our veterans' shelter accommodates 14 beds and all beds are filled in collaboration with togus medical center homless services. This means we cannot take veterans off the street and into the shelter without them first going through services at togus. We commonly see 4,500 bed nights per calendar year at the veterans shelter. -we have a total of 101 units of housing in the city of augusta and this is a combination of transitional, permanent and guest house/lodger accomodations. We have 48 units which are considered permanent housing and 12 units are identified as transitional housing apartments. We also have one building which is called a guest house/lodger and this building has 23 small units within it, and a second building offering 2 apartments and 2 suites for a total of 18 units in the building. Our current occupancy rate for our apartments are approx. 90%.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 99% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 92
  • Accountability: 89
  • Sustainability: 52
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.9%; rating input score 84
  • Program expense ratio: 85.5%; rating input score 86
  • Fundraising efficiency: $589.99 raised per $1 spent on fundraising; rating input score 96; 96th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90%; rating input score 90; 21st percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 3.2%; rating input score 45; 45th percentile among comparable filings
  • Total-asset coverage ratio: 2.44; rating input score 68; 68th percentile among comparable filings
  • Liabilities to assets ratio: 0.25; rating input score 38; 38th percentile among comparable filings
  • Officer compensation ratio: 5.6%; rating input score 50; 50th percentile among comparable filings

Growth

  • Program expense growth: 4.8% per year; rating input score 100; 38th percentile among comparable filings
  • Revenue growth: 5.6% per year; rating input score 100; 45th percentile among comparable filings
  • Asset growth: 2% per year; rating input score 100; 20th percentile among comparable filings

Details

  • Where the money goes: 83.9% of revenue deployed · 85.5% of spending went to programs
  • Governance: 9 of 10 board members independent · 7 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $1.9M in reported program spending
  • Leadership: top reported pay $125K · 10 people listed
  • Consistency: 34 of 34 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Sustainability: Operating margin scored 45/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 38/100.
  • Review — Sustainability: Officer compensation ratio scored 50/100.