Solid Rock International 
The information on this page was last updated 12/5/2022. If you see errors or omissions, please email: [email protected]
Summary
Solid Rock International is a Christian non-profit 501(c)3 organization focused on transforming the body, mind, and soul of the poor in the Dominican Republic.
Contact information
Mailing address:
Solid Rock International
PO Box 20867
Indianapolis, IN 46220
Website: solidrockinternational.org
Phone: 419-956-4077
Email: [email protected]
Organization details
EIN: 341719319
CEO/President: Joseph Zimmerman
Chairman: Dr. Charlie Rhodes
Board size: 22
Founder: Dr. Osvaldo Canario
Ruling year: 1993
Tax deductible: Yes
Fiscal year end: 06/30
Member of ECFA: Yes
Member of ECFA since: 2004
Purpose
When Solid Rock International (formerly Solid Rock Missions) was first beginning as an organization in the early 1990s, the desire was, and still is today, to holistically serve the poor in the Dominican Republic by focusing on all aspects of health.
SRI acknowledges that there is so much more to wellness than just physical health. We believe we are called by God's Word to care for the poor, and by doing so, are serving God himself.
Mission statement
Transforming the body, mind, and soul of the poor in the Dominican Republic.
Statement of faith
1. We believe the Bible to be the inspired, the only infallible, authoritative Word of God. (2 Timothy 3:16, 2 Samuel 7:28, Psalm 12:6, Psalm 119:42, John 27:17)
2. We believe that there is one God, eternally existent in three persons: Father, Son, and Holy Spirit. (2 Corinthians 13:14, Matthew 28:19-20)
3. We believe in the deity of our Lord Jesus Christ, in His virgin birth, in His sinless life, in His miracles, in His vicarious and atoning death through His shed blood, in His bodily resurrection, in His ascension to the right hand of the Father, and in His personal return in power and glory. (1 Corinthians 15:2-4, John 1:1, John 1:15, Romans 9:5, Titus 2:13, 2 Peter 1:1, Colossians 1:19-20, Hebrews 3:17)
4. We believe that the salvation of lost and sinful man regeneration by the by the Holy Spirit is absolutely essential. (John 3:5, Hebrews 9:14)
5. We believe in the present ministry of the Holy Spirit by whose indwelling the Christian is enabled to live a godly life. (Galatians 5:22-23, 2 Corinthians 1:21-22, John 16:13-14, Romans 8:29, 1 John 3:2, Romans 8:9)
6. We believe in the resurrection of both the saved and the lost; they that are saved unto the resurrection of life and they that are lost unto the resurrection of damnation. (John 11:25, Acts 24:15)
7. We believe in the spiritual unity of believers in our Lord Jesus Christ. (John 17:20-23)
Donor confidence score
Transparency grade
A
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: Foreign Missions
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 40 of 1096 | 6 of 142 |
| Fund acquisition rating | | 176 of 1098 | 28 of 143 |
| Resource allocation rating | | 76 of 1098 | 10 of 143 |
| Asset utilization rating | | 143 of 1096 | 22 of 142 |
Financial ratios
| Funding ratios | Sector median | 2023 | 2022 | 2021 | 2019 | 2018 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 6% | 2% | 3% | 5% | 3% | 3% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 5% | 2% | 3% | 5% | 3% | 3% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 99% | 100% | 100% | 100% | 98% | 99% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 5% | 2% | 3% | 4% | 3% | 3% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 1% | 0% | 0% | 0% | 2% | 1% |
| Operating ratios | Sector median | 2023 | 2022 | 2021 | 2019 | 2018 |
Program expense ratio Program expense ratio = Program services / Total expenses | 84% | 91% | 87% | 85% | 85% | 83% |
Spending ratio Spending ratio = Total expenses / Total revenue | 96% | 133% | 89% | 126% | 105% | 89% |
Program output ratio Program output ratio = Program services / Total revenue | 79% | 121% | 78% | 106% | 89% | 74% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 4% | -33% | 11% | -26% | -5% | 11% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 7% | -80% | 15% | -23% | -4% | 9% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 8% | 7% | 10% | 12% | 12% | 13% |
| Investing ratios | Sector median | 2023 | 2022 | 2021 | 2019 | 2018 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 1.25 | 3.08 | 1.14 | 1.09 | 0.95 | 0.74 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 1.18 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.70 | 3.11 | 1.15 | 1.11 | 0.95 | 0.75 |
| Liquidity ratios | Sector median | 2023 | 2022 | 2021 | 2019 | 2018 |
Current ratio Current ratio = Total current assets / Total current liabilities | 20.61 | 17.81 | 44.93 | 117.48 | 39.68 | 202.84 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.04 | 0.06 | 0.02 | 0.01 | 0.03 | 0.00 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 6.62 | 3.64 | 10.20 | 10.75 | 12.28 | 15.98 |
| Solvency ratios | Sector median | 2023 | 2022 | 2021 | 2019 | 2018 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 6% | 6% | 2% | 5% | 3% | 0% |
Debt ratio Debt ratio = Debt / Total assets | 0% | 0% | 0% | 4% | 0% | 0% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 74% | 31% | 86% | 87% | 103% | 134% |
Financials
| Balance sheet | |||||
| Assets | 2023 | 2022 | 2021 | 2019 | 2018 |
| Cash | $728,700 | $1,107,154 | $1,321,111 | $1,661,180 | $1,654,601 |
| Receivables, inventories, prepaids | $181,141 | $482,643 | $79,228 | $155,268 | $204,233 |
| Short-term investments | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $909,841 | $1,589,797 | $1,400,339 | $1,816,448 | $1,858,834 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Fixed assets | $0 | $0 | $0 | $0 | $0 |
| Other long-term assets | $11,000 | $15,438 | $15,740 | $10,124 | $9,957 |
| Total long-term assets | $11,000 | $15,438 | $15,740 | $10,124 | $9,957 |
| Total assets | $920,841 | $1,605,235 | $1,416,079 | $1,826,572 | $1,868,791 |
| Liabilities | 2023 | 2022 | 2021 | 2019 | 2018 |
| Payables and accrued expenses | $51,082 | $35,384 | $11,920 | $45,774 | $9,164 |
| Other current liabilities | $0 | $0 | $0 | $0 | $0 |
| Total current liabilities | $51,082 | $35,384 | $11,920 | $45,774 | $9,164 |
| Debt | $0 | $0 | $63,164 | $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 | $63,164 | $0 | $0 |
| Total liabilities | $51,082 | $35,384 | $75,084 | $45,774 | $9,164 |
| Net assets | 2023 | 2022 | 2021 | 2019 | 2018 |
| Without donor restrictions | $616,166 | $447,988 | $305,472 | $71,176 | $49,473 |
| With donor restrictions | $253,593 | $1,121,863 | $1,035,523 | $1,709,622 | $1,810,154 |
| Net assets | $869,759 | $1,569,851 | $1,340,995 | $1,780,798 | $1,859,627 |
| Revenues and expenses | |||||
| Revenue | 2023 | 2022 | 2021 | 2019 | 2018 |
| Total contributions | $2,128,547 | $2,054,918 | $1,234,296 | $1,622,851 | $1,547,418 |
| Program service revenue | $0 | $0 | $0 | $0 | $0 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $3,829 | $1,900 | $757 | $28,191 | $11,222 |
| Other revenue | $0 | $0 | $0 | $0 | $0 |
| Total other revenue | $3,829 | $1,900 | $757 | $28,191 | $11,222 |
| Total revenue | $2,132,376 | $2,056,818 | $1,235,053 | $1,651,042 | $1,558,640 |
| Expenses | 2023 | 2022 | 2021 | 2019 | 2018 |
| Program services | $2,579,983 | $1,596,062 | $1,310,107 | $1,467,322 | $1,157,897 |
| Management and general | $208,672 | $177,259 | $181,879 | $207,828 | $183,177 |
| Fundraising | $43,813 | $54,641 | $58,066 | $54,721 | $47,987 |
| Total expenses | $2,832,468 | $1,827,962 | $1,550,052 | $1,729,871 | $1,389,061 |
| Change in net assets | 2023 | 2022 | 2021 | 2019 | 2018 |
| Surplus (deficit) | ($700,092) | $228,856 | ($314,999) | ($78,829) | $169,579 |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | ($700,092) | $228,856 | ($314,999) | ($78,829) | $169,579 |
Compensation
| Name | Title | Compensation |
| Joseph Zimmerman | Executive Director | $66,576 |
| Shannon Zimmerman | Director of Development | $44,545 |
Compensation data as of: 6/30/2023
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 12/5/2022. To update the information below, please email: [email protected]
History
https://www.solidrockinternational.org/wp-content/uploads/2011/10/New-Mercies-Book.pdf