Bread of Life Mission

Nonprofit profile at a glance

EIN
916057907
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Seattle, WA, USA
Phone
2066823579
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Homeless Centers
Affiliation
Christianity

Official website

Reported finances

Revenue
$2,639,009
Expenses
$3,176,657
Assets
$4,061,580
Liabilities
$242,195

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

Leadership & pay

7 people listed

Executive titles in this filing

  • KIMBERLY COOK (CEO)

Highest reported compensation

  • KIMBERLY COOK (CEO): $170,057 total reported compensation
  • DEREK HERMANN (DIRECTOR OF OPERATIONS): $50,256 total reported compensation

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

Overview

Mission

Bringing hope, healing, and recovery to seattle's homeless through a christ-centered approach.

What it reported doing in 2024

Bread of life mission is an evangelical christian ministry providing physical and spiritual support for homeless men in the seattle area. Thephysical support included providing meals, overnight beds, and clothing items for both men and women.

Operating model

Revenue model
Donor-supported. 95% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 72% for direct work, and 28% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 75
  • Accountability: 100
  • Sustainability: 30
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.9%; rating input score 84
  • Program expense ratio: 69.1%; rating input score 69
  • Fundraising efficiency: $3.95 raised per $1 spent on fundraising; rating input score 12; 12th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -20.4%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 1.28; rating input score 46; 46th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 67; 67th percentile among comparable filings
  • Officer compensation ratio: 6.9%; rating input score 42; 42nd percentile among comparable filings

Growth

  • Program expense growth: 6.2% per year; rating input score 100; 46th percentile among comparable filings
  • Revenue growth: 4% per year; rating input score 100; 34th percentile among comparable filings
  • Asset growth: 11.5% per year; rating input score 100; 64th percentile among comparable filings

Details

  • Where the money goes: 83.9% of revenue deployed · 69.1% of spending went to programs
  • Governance: 5 of 5 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2.2M in reported program spending
  • Leadership: top reported pay $170K · 7 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 36 of 36 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • High — Financial Efficiency: Fundraising efficiency scored 12/100.
  • High — Sustainability: Operating margin scored 7/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 46/100.
  • Moderate — Sustainability: Officer compensation ratio scored 42/100.