Our Daily Bread Ministries Foundation

Nonprofit profile at a glance

EIN
383447967
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Grand Rapids, MI, USA
Phone
6169426770
Rating
87
Verdict
STRONG
Rating confidence
Standard
Sector
Fund Raising and Fund Distribution

Reported finances

Revenue
$9,412,260
Expenses
$12,784,400
Assets
$29,464,295
Liabilities
$1,349,015

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

Leadership & pay

7 people listed

Executive titles in this filing

  • Matt Lucas (President)

Highest reported compensation

  • Matt Lucas (President): $317,129 total reported compensation
  • Nancy Schoonmaker (Treasurer): $214,947 total reported compensation

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

Overview

Mission

Accumulate and invest funds for the benefit of RBC Ministries (also a 501 c 3 organization)

What it reported doing in 2024

The foundation holds funds for long term investment to benefit RBC Ministries (also a 501 c 3 organization)

Operating model

Revenue model
Donor-supported. 94% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 99% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 98
  • Transparency & Controls: 75
  • Accountability: 91
  • Sustainability: 39
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 97.6%; rating input score 98
  • Fundraising efficiency: $163.41 raised per $1 spent on fundraising; rating input score 90; 90th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: -35.8%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 2.3; rating input score 66; 66th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 71; 71st percentile among comparable filings
  • Officer compensation ratio: 0.3%; rating input score 82; 82nd percentile among comparable filings

Growth

  • Program expense growth: 14.8% per year; rating input score 100; 77th percentile among comparable filings
  • Revenue growth: 12.1% per year; rating input score 100; 75th percentile among comparable filings
  • Asset growth: 4.9% per year; rating input score 100; 34th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 97.6% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $12.5M in reported program spending
  • Leadership: top reported pay $317K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 4 filed related-organization links
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 3/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.