Bread of Life Ministry Inc

Nonprofit profile at a glance

EIN
351672783
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Lynnville, IN, USA
Phone
8129225424
Rating
87
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$4,656,288
Expenses
$4,799,265
Assets
$1,929,796
Liabilities
$4,100

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

Leadership & pay

5 people listed

Executive titles in this filing

  • James A Webb (Co-President)
  • Sherry Carlisle Smith (Co-President)
  • Barbara A Gowen (Vice-President)

Highest reported compensation

  • Lorrie L Higgs (Treasurer): $22,903 total reported compensation
  • James A Webb (Co-President): $19,760 total reported compensation
  • Sherry Carlisle Smith (Co-President): $3,000 total reported compensation

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

Overview

Mission

See attached statement

Operating model

Revenue model
Donor-supported. 99% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 95% of its reported program spending out as grants.
  • 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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 100
  • Accountability: 77
  • Sustainability: 35
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.7%; rating input score 100
  • Fundraising efficiency: Limited

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: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • 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: Fail

Sustainability

  • Operating margin: -3.1%; rating input score 24; 24th percentile among comparable filings
  • Total-asset coverage ratio: 0.4; rating input score 13; 13th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 1%; rating input score 80; 80th percentile among comparable filings

Growth

  • Program expense growth: 2.7% per year; rating input score 100; 26th percentile among comparable filings
  • Revenue growth: 0.5% per year; rating input score 100; 13th percentile among comparable filings
  • Asset growth: -2.5% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.7% of spending went to programs
  • Governance: 13 of 13 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $4.8M in reported program spending
  • Leadership: top reported pay $23K · 5 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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 — Accountability: Governance controls: 5 of 9 not reported.
  • High — Sustainability: Operating margin scored 24/100.
  • High — Sustainability: Total-asset coverage ratio scored 13/100.
  • High — Growth: Asset growth scored 0/100.