Overview
What is Bread Of Life Ministries Inc?
Bread Of Life Ministries Inc, located in Augusta, Maine, is a compassionate nonprofit organization dedicated to addressing food insecurity, homelessness, and personal transformation. By offering temporary and permanent housing options, such as their 83 units in the Augusta area, the organization assists individuals in transitioning from homelessness to a stable life within the community. Many of these units are subsidized, reducing the rental cost for families or individuals. The ministry's mission is deeply rooted in faith, as they strive to follow God's call to help and support those in need, enabling them to take personal responsibility and change their lives. With a workforce of 37 dedicated individuals, Bread Of Life Ministries Inc embodies a commitment to making a positive impact in the community.
Official website here: www.mainebreadoflife.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 98% (Four-Star out of Four Stars)
Bread Of Life Ministries Inc has achieved a remarkable Four-Star rating from Charity Navigator, reflecting its strong performance in both impact and financial accountability. The organization excels in its Impact & Measurement category, scoring a perfect 100, indicating effective evaluation of its programs and services. This high score suggests that the ministry is successful in measuring and demonstrating the impact of its initiatives.
Financially, the organization shows a commendable Accountability & Finance score of 96, with a program expense ratio of 89.07%. This high ratio indicates that a significant portion of its expenses goes directly to its charitable programs, a positive sign for donors concerned about operational efficiency. Additionally, the low liabilities to assets ratio of 27.24% suggests a solid financial footing.
However, while the overall scores are impressive, the split between the Accountability & Finance and the Impact & Measurement scores indicates that there may still be areas for improvement in financial practices. Despite this, the organization's cost per meal being less than 75% of the local meal cost highlights its effectiveness in providing affordable assistance to those in need.
This AI summary has been generated from information found on Charity Navigator.
Is Bread Of Life Ministries Inc legitimate?
Bread Of Life Ministries Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bread Of Life Ministries Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $86,785
Professional Fundraising Fees: $0
Other Salaries and Wages: $636,277
For more financial information, click here
Official website here: www.mainebreadoflife.org
What is the mission statement of Bread Of Life Ministries Inc?
Bread of Life Ministries Inc is committed to addressing the needs of individuals facing hunger and homelessness. Their mission is to provide services that empower people to improve their lives and take personal responsibility, inspired by the belief in ministering to one another and assisting those in need. The organization offers temporary and permanent housing through BOLM Housing, which helps clients transition from homelessness to a stable life within the community. By providing clean, safe, and affordable housing options, Bread of Life Ministries facilitates the break of the cycle of poverty and intermittent homelessness for many families and individuals.
Official website here: www.mainebreadoflife.org
Who is the CEO of Bread Of Life Ministries Inc?
Victoria Abbott is the Executive Di of Bread Of Life Ministries Inc.
Official website here: www.mainebreadoflife.org
What is the revenue of Bread Of Life Ministries Inc?
Bread Of Life Ministries Inc's revenue in 2022 was $2,688,939.
Official website here: www.mainebreadoflife.org
Who are the executives of Bread Of Life Ministries Inc and what are their salaries?
The average compensation at Bread Of Life Ministries Inc during 2022 was $19,542. There are 37 employees and 33 volunteers at Bread Of Life Ministries Inc.
Here are 8 key members and their salaries:
- Compensation: $81,780
- Related: $0
- Other: $5,005
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.mainebreadoflife.org
Where can I find the form 990 for Bread Of Life Ministries Inc?
Bread Of Life Ministries Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mainebreadoflife.org
Learn more at the official website: www.mainebreadoflife.org
Mission Statement of Bread Of Life Ministries Inc
Bread of Life Ministries Inc is committed to addressing hunger and homelessness, and aiding individuals in transforming their lives. In line with God's call to help one another and assist those in need, the organization provides services that empower people to take personal responsibility. Their mission is multifaceted, encompassing feeding the hungry, offering temporary and permanent housing, and delivering resources that facilitate personal growth and self-sufficiency.
Specifically, Bread of Life Ministries Inc provides temporary and subsidized housing through their BOLM Housing program. This initiative offers clean, safe, and affordable housing options to clients, enabling them to transition smoothly from homelessness to a stable life within the local community. The organization has 83 units of housing in the Augusta area, many of which are subsidized, making them more affordable for families or individuals paying rent.
In summary, Bread of Life Ministries Inc is a charitable organization dedicated to alleviating hunger, addressing homelessness, and aiding individuals in taking charge of their lives. Through their various services, including feeding programs and affordable housing options, they strive to assist those in need and help them break the cycle of poverty and intermittent homelessness.
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Impact
October, 2024
Bread Of Life Ministries Inc significantly impacts the community by addressing critical needs such as hunger and homelessness. Through its feeding programs, it ensures that individuals and families have access to nutritious meals, alleviating food insecurity for many in the Augusta area. Additionally, its housing initiatives provide both temporary and permanent solutions for those experiencing homelessness. With 83 units of clean, safe, and affordable housing, the organization plays a vital role in helping clients transition from homelessness to stable living situations, thereby breaking the cycle of poverty that often affects them.
Beyond immediate relief, Bread Of Life Ministries facilitates personal growth and responsibility among its clients by offering services that empower them to change their lives. This holistic approach not only addresses basic needs but also fosters a sense of community and support, encouraging individuals to take proactive steps toward stability. By ministering to those in need, Bread Of Life Ministries cultivates a compassionate and supportive environment that promotes long-term change and resilience within the community.
This information is meant to be a general summary of Bread Of Life Ministries Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $65,869
- Program Service Revenue: $633,939
- Gross Receipts: $2,711,741
Assets and Liabilities:
- Total Assets: $4,813,224
- Total Liabilities: $1,311,510
- Net Assets: $3,501,714
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$606,557
CASE MANAGEMENT
Revenue
$27,382
Organization Details
Founding Year
1984
Phone
(207) 626-3434Principal Officer
Victoria Abbott
Main Address
157 WATER STREET, AUGUSTA, ME, 04330
Website
www.mainebreadoflife.orgNTEE Category
Code: L41Z - Housing
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