Overview
What is Our Daily Bread Ministries Foundation?
Our Daily Bread Ministries Foundation is a charitable organization, established with the goal of amassing funds to establish an endowment for RBC Ministries, another nonprofit entity. The foundation's primary mission involves accumulating and investing funds to contribute to the betterment of RBC Ministries. The foundation is headquartered in Grand Rapids, Michigan, at 3000 Kraft Ave SE.
What are the reviews and ratings of this charity?
Our Daily Bread Ministries Foundation has received a strong Four-Star out of Four Star rating from Charity Navigator, with an overall score of 90% primarily based on its robust accountability and finance practices. The charity demonstrates a high level of transparency and effective financial management, indicated by a program expense ratio of 93.10%, showing that a significant portion of their funding is directed toward programs rather than administrative or fundraising costs.
The foundation has a governance structure with a majority of independent board members (80%), ensuring objective oversight and decision-making. Their financial controls are solid, illustrated by a very low liabilities to assets ratio of 0.07% and the absence of any material diversions of assets. However, they received a deduction for not listing their website on the tax form, indicating a minor area for improvement in transparency.
Unfortunately, user reviews from GreatNonprofits could not be fetched, so no additional user feedback is available at this time. Overall, Our Daily Bread Ministries Foundation is well-rated for its financial health and governance, positioning it as a trustworthy nonprofit in its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Our Daily Bread Ministries Foundation legitimate?
Our Daily Bread Ministries Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Our Daily Bread Ministries Foundation 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Our Daily Bread Ministries Foundation?
The Our Daily Bread Ministries Foundation's mission is to accumulate and invest funds, serving as an endowment for RBC Ministries, a fellow 501 c 3 organization. This financial support is intended to benefit RBC Ministries in its charitable activities. The foundation's primary goal is to ensure the long-term financial stability and growth of RBC Ministries, thus enabling it to continue its mission more effectively. By accumulating funds, the foundation is playing a crucial role in securing the future of RBC Ministries and its initiatives.
What is the revenue of Our Daily Bread Ministries Foundation?
Our Daily Bread Ministries Foundation's revenue in 2024 was $6,803,906.
Who are the executives of Our Daily Bread Ministries Foundation and what are their salaries?
Here are 7 key members and their salaries:
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- Other: $0
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- Related: $265,130
- Other: $29,172
- Compensation: $0
- Related: $231,405
- Other: $27,775
Where can I find the form 990 for Our Daily Bread Ministries Foundation?
Our Daily Bread Ministries Foundation's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Our Daily Bread Ministries Foundation
Our Daily Bread Ministries Foundation, as a non-profit organization, is dedicated to accumulating and investing funds with the sole purpose of benefitting RBC Ministries. This mission involves building an endowment that will support the operations and initiatives of RBC Ministries, a fellow 501 c 3 organization. By accumulating funds, the Foundation aims to provide financial stability and resources to RBC Ministries, enabling it to continue its mission and serve its community effectively.
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Impact
July, 2024
Our Daily Bread Ministries Foundation has a significant impact in supporting the mission and activities of RBC Ministries. By accumulating and investing funds for the benefit of RBC Ministries, the foundation plays a crucial role in providing financial stability and resources for the organization's work. This support enables RBC Ministries to continue its mission of spreading religious teachings and messages to a wide audience. Through its financial contributions, Our Daily Bread Ministries Foundation helps ensure the sustainability and growth of RBC Ministries' impactful initiatives.
This information is meant to be a general summary of Our Daily Bread Ministries Foundation. 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 2024.
- Investment Income: $433,771
- Gross Receipts: $9,787,794
Assets and Liabilities:
- Total Assets: $33,562,452
- Total Liabilities: $24,103
- Net Assets: $33,538,349
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Organization Details
Founding Year
1998
Principal Officer
Gary Wicker
NTEE Category
Code: X120 - Religion related
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