Fairhaven Rescue Mission

The information on this page was last updated 6/20/2022. If you see errors or omissions, please email: [email protected]


Summary

Serving the Homeless and Disadvantaged in the Northern Kentucky / Greater Cincinnati area.


Contact information

Mailing address:
Fairhaven Rescue Mission
260 Pike Street
Covington, KY 41011

Website: fairhavenmission.org

Phone: 859-491-1027

Email: [email protected]


Organization details

EIN: 311099653

CEO/President: David Hammers

Chairman: Tracy O'Keefe

Board size: 7

Founder:

Ruling year: 1984

Tax deductible: Yes

Fiscal year end: 12/31

Member of ECFA: No

Member of ECFA since:


Purpose

The homeless and hurting depend on Fairhaven to meet their physical and spiritual needs ... many have no one else. They come here looking for a helping hand and a loving heart - someone to care.


Mission statement

To provide for the physical and spiritual needs of disadvantaged men, women, and children of northern Kentucky.


Statement of faith

We believe in one God, eternally existing Father, Son and Holy Spirit.

We believe in the virgin birth and absolute Deity of Jesus Christ.

We believe that Jesus Christ died on the cross as a substitutionary sacrifice for our sins and that His shed blood is the only means for the remission of sins.

We believe that the Scripture of the Old and New Testaments are the inspired Word of God and that they are the supreme, final and only authority of faith and life.

We believe that man was created by God in God's image; he sinned as recorded in Genesis, causing physical and spiritual death.

We believe sin entered into the world by Adam and as a result, the entire human race is born with a sinful nature and spiritually dead.

We believe that when a person receives by faith the Lord Jesus Christ, the Holy Spirit regenerates that person into the family of God.

We believe in a future Heaven for the saved and that it is not obtained as the result of good works, but we believe in the maintenance of good works, and holy living as a result of salvation.

Donor confidence score

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Transparency grade

D

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Financial efficiency ratings

Sector: Rescue Missions/Homeless Shelters

CategoryRatingOverall rankSector rank
Overall efficiency rating319 of 103454 of 161
Fund acquisition rating388 of 103664 of 161
Resource allocation rating521 of 103673 of 161
Asset utilization rating335 of 103455 of 161

Financial ratios

Funding ratiosSector median20202019201820172016
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
9%8%7%9%8%9%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
8%8%7%9%8%9%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
91%98%97%97%97%98%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
10%8%7%8%8%9%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
9%2%3%3%3%2%
 
Operating ratiosSector median20202019201820172016
Program expense ratio Program expense ratio =
Program services /
Total expenses
80%80%85%83%85%84%
Spending ratio Spending ratio =
Total expenses /
Total revenue
87%95%102%109%101%100%
Program output ratio Program output ratio =
Program services /
Total revenue
69%76%87%90%86%84%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
13%5%-2%-9%-1%0%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
11%5%-3%-10%-2%0%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
9%12%9%8%8%8%
 
Investing ratiosSector median20202019201820172016
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.550.881.081.141.010.93
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
2.971.131.141.141.151.17
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.740.991.221.301.161.09
 
Liquidity ratiosSector median20202019201820172016
Current ratio Current ratio =
Total current assets /
Total current liabilities
14.3026.4923.1112.9916.1214.69
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.070.040.040.080.060.07
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
5.7911.619.398.529.7210.30
 
Solvency ratiosSector median20202019201820172016
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
9%3%4%7%5%6%
Debt ratio Debt ratio =
Debt /
Total assets
2%0%0%0%0%0%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
150%109%89%82%94%101%

Financials

Balance sheet
 
Assets20202019201820172016
Cash$1,225,484$1,151,579$1,200,998$1,293,177$1,297,475
Receivables, inventories, prepaids$0$0$0$0$250
Short-term investments$0$0$0$0$0
Other current assets$0$0$0$0$0
Total current assets$1,225,484$1,151,579$1,200,998$1,293,177$1,297,725
Long-term investments$0$0$0$0$0
Fixed assets$153,260$157,499$173,450$196,545$220,019
Other long-term assets$0$0$0$0$0
Total long-term assets$153,260$157,499$173,450$196,545$220,019
Total assets$1,378,744$1,309,078$1,374,448$1,489,722$1,517,744
 
Liabilities20202019201820172016
Payables and accrued expenses$46,256$49,835$92,464$80,237$88,361
Other current liabilities$0$0$0$0$0
Total current liabilities$46,256$49,835$92,464$80,237$88,361
Debt$0$0$0$0$0
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$0$0$0$0$0
Total long-term liabilities$0$0$0$0$0
Total liabilities$46,256$49,835$92,464$80,237$88,361
 
Net assets20202019201820172016
Without donor restrictions$1,332,488$1,259,243$1,281,984$1,409,485$1,429,383
With donor restrictions$0$0$0$0$0
Net assets$1,332,488$1,259,243$1,281,984$1,409,485$1,429,383
 
Revenues and expenses
 
Revenue20202019201820172016
Total contributions$1,261,779$1,327,755$1,392,551$1,432,516$1,373,479
Program service revenue$7,493$21,400$21,956$19,739$19,753
Membership dues$0$0$0$0$0
Investment income$5,554$15,672$12,729$7,439$3,626
Other revenue$7,469$9,129$11,296$15,634$11,814
Total other revenue$20,516$46,201$45,981$42,812$35,193
Total revenue$1,282,295$1,373,956$1,438,532$1,475,328$1,408,672
 
Expenses20202019201820172016
Program services$980,103$1,190,290$1,301,702$1,265,444$1,177,538
Management and general$140,512$120,867$129,170$113,991$108,111
Fundraising$97,793$96,851$130,746$118,014$122,950
Total expenses$1,218,408$1,408,008$1,561,618$1,497,449$1,408,599
 
Change in net assets20202019201820172016
Surplus (deficit)$63,887($34,052)($123,086)($22,121)$73
Other changes in net assets$0$0$0$0$0
Total change in net assets$63,887($34,052)($123,086)($22,121)$73

Compensation

NameTitleCompensation
David HammersExecutive Director$144,372

Compensation data as of: 12/31/2020


Response from ministry

No response has been provided by this ministry.


The information below was provided to MinistryWatch by the ministry itself. It was last updated 6/20/2022. To update the information below, please email: [email protected]


History

Incorporated in 1984, Fairhaven Rescue Mission serves the Northern Kentucky / Greater Cincinnati area. Filling a vital community role, Fairhaven Rescue Mission provides Christ-centered programs and services that respond to the physical, spiritual and emotional needs of homeless and hurting men, women and children.


Program accomplishments

6,169 shelter nights
41,088 meals served
20,763 individuals received groceries
13,697 clothing vouchers distributed


Needs