Our Daily Bread Ministries 
The information on this page was last updated 6/14/2024. If you see errors or omissions, please email: [email protected]
Summary
Our Daily Bread Ministries helps millions of people connect with God each day. For more than 85 years, our purpose has remained the same: to reach people with the life-changing wisdom of the Bible.
Contact information
Mailing address:
Our Daily Bread Ministries
PO Box 2222
Grand Rapids, MI 49501
Website: www.odb.org
Phone: (616) 974-2210
Email: [email protected]
Organization details
EIN: 381613981
CEO/President: Matthew Lucas
Chairman: Marty Doorn
Board size: 10
Founder: Dr. M.R. De Haan
Ruling year: 1943
Tax deductible: Yes
Fiscal year end: 03/31
Member of ECFA: Yes
Member of ECFA since: 1987
Purpose
Our Daily Bread Ministries helps millions of people connect with God each day. For more than 75 years, our purpose has remained the same: to reach people with the life-changing wisdom of the Bible.
Our vision is to see people of all nations experiencing a personal relationship with Christ, growing to be more like Him, and serving in a local body of His family.
Mission statement
Our mission is to make the life-changing wisdom of the Bible understandable and accessible to all.
Statement of faith
We Believe...
The Old and New Testament Scriptures are inspired by God, without error in the original manuscripts, fulfilled in Christ, and the revelation of our creation, fall, redemption, and restoration.
In one God in three persons: Father, Son, and Holy Spirit.
Jesus Christ is fully God and fully man, the only begotten Son of God, and the perfect revelation of the Father.
In Jesus' virgin birth, sinless life, sacrificial death, bodily resurrection, ascension to the Father, and triumphant return.
That, as a result of the fall, we are in need of salvation from sin and eternal death. God graciously provided this salvation through Jesus, who alone reconciles all who repent of their sin and put their faith in Him.
It is by the Holy Spirit that we are convicted of sin and led, through repentance and new birth, into the family of God to live and grow in Christlikeness, in trust in God, and in love for others.
In one church, expressed through local bodies of God's family, made up of all who are in Christ, and who together are commissioned to make Christ-followers of all nations.
In the return of our Lord to bring the fullness of His kingdom, to judge the living and the dead, and to restore the peace and joy of His creation.
Donor confidence score
Transparency grade
A
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: Educational Media
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 25 of 1117 | 1 of 46 |
| Fund acquisition rating | | 172 of 1118 | 8 of 46 |
| Resource allocation rating | | 118 of 1118 | 5 of 46 |
| Asset utilization rating | | 24 of 1117 | 1 of 46 |
Financial ratios
| Funding ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 7% | 2% | 2% | 1% | 1% | 2% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 7% | 2% | 2% | 1% | 1% | 1% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 92% | 88% | 89% | 90% | 96% | 95% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 6% | 2% | 2% | 1% | 1% | 2% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 8% | 12% | 11% | 10% | 4% | 5% |
| Operating ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Program expense ratio Program expense ratio = Program services / Total expenses | 82% | 88% | 88% | 88% | 88% | 87% |
Spending ratio Spending ratio = Total expenses / Total revenue | 94% | 102% | 97% | 92% | 100% | 97% |
Program output ratio Program output ratio = Program services / Total revenue | 76% | 90% | 86% | 81% | 87% | 85% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 6% | -2% | 3% | 8% | 0% | 3% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 7% | -7% | 9% | 33% | 3% | 14% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 11% | 10% | 10% | 10% | 11% | 11% |
| Investing ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.76 | 3.10 | 2.55 | 2.58 | 3.85 | 3.59 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 1.44 | 3.89 | 3.12 | 3.51 | 7.15 | 7.63 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.41 | 12.05 | 7.96 | 9.07 | 27.56 | 27.38 |
| Liquidity ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Current ratio Current ratio = Total current assets / Total current liabilities | 14.11 | 4.15 | 3.64 | 4.66 | 0.76 | 0.72 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.07 | 0.24 | 0.27 | 0.21 | 1.32 | 1.39 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 7.08 | 0.76 | 1.09 | 1.04 | -0.14 | -0.17 |
| Solvency ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 10% | 24% | 28% | 28% | 29% | 31% |
Debt ratio Debt ratio = Debt / Total assets | 0% | 0% | 0% | 0% | 0% | 0% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 103% | 24% | 28% | 28% | 18% | 19% |
Financials
| Balance sheet | |||||
| Assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Cash | $1,680,942 | $3,730,671 | $3,701,587 | $668,053 | $358,096 |
| Receivables, inventories, prepaids | $3,778,325 | $3,861,232 | $2,440,509 | $1,150,498 | $1,344,912 |
| Short-term investments | $20,237 | $54,955 | $35,989 | $32,389 | $41,242 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $5,479,504 | $7,646,858 | $6,178,085 | $1,850,940 | $1,744,250 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Fixed assets | $13,402,197 | $13,438,814 | $13,366,360 | $10,260,628 | $9,606,057 |
| Other long-term assets | $2,428,919 | $2,762,320 | $2,143,370 | $1,128,794 | $1,955,685 |
| Total long-term assets | $15,831,116 | $16,201,134 | $15,509,730 | $11,389,422 | $11,561,742 |
| Total assets | $21,310,620 | $23,847,992 | $21,687,815 | $13,240,362 | $13,305,992 |
| Liabilities | 2023 | 2022 | 2021 | 2020 | 2019 |
| Payables and accrued expenses | $1,319,641 | $2,099,058 | $1,325,543 | $2,447,297 | $2,420,082 |
| Other current liabilities | $0 | $0 | $0 | $0 | $0 |
| Total current liabilities | $1,319,641 | $2,099,058 | $1,325,543 | $2,447,297 | $2,420,082 |
| Debt | $0 | $0 | $0 | $0 | $0 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $3,867,249 | $4,493,877 | $4,708,369 | $1,401,921 | $1,732,546 |
| Total long-term liabilities | $3,867,249 | $4,493,877 | $4,708,369 | $1,401,921 | $1,732,546 |
| Total liabilities | $5,186,890 | $6,592,935 | $6,033,912 | $3,849,218 | $4,152,628 |
| Net assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Without donor restrictions | $16,123,730 | $17,255,057 | $15,653,903 | $9,391,144 | $9,153,364 |
| With donor restrictions | $0 | $0 | $0 | $0 | $0 |
| Net assets | $16,123,730 | $17,255,057 | $15,653,903 | $9,391,144 | $9,153,364 |
| Revenues and expenses | |||||
| Revenue | 2023 | 2022 | 2021 | 2020 | 2019 |
| Total contributions | $57,308,311 | $55,545,643 | $54,803,081 | $49,066,012 | $46,720,605 |
| Program service revenue | $5,220,207 | $4,598,103 | $4,359,687 | $0 | $0 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $37,636 | $6,800 | $14,574 | $23,301 | $9,312 |
| Other revenue | $2,344,128 | $2,353,253 | $1,962,100 | $2,166,414 | $2,311,833 |
| Total other revenue | $7,601,971 | $6,958,156 | $6,336,361 | $2,189,715 | $2,321,145 |
| Total revenue | $64,910,282 | $62,503,799 | $61,139,442 | $51,255,727 | $49,041,750 |
| Expenses | 2023 | 2022 | 2021 | 2020 | 2019 |
| Program services | $58,333,608 | $53,766,349 | $49,482,437 | $44,659,214 | $41,591,200 |
| Management and general | $6,508,717 | $5,939,658 | $5,796,485 | $5,643,311 | $5,427,485 |
| Fundraising | $1,201,233 | $1,193,910 | $726,845 | $712,582 | $730,758 |
| Total expenses | $66,043,558 | $60,899,917 | $56,005,767 | $51,015,107 | $47,749,443 |
| Change in net assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Surplus (deficit) | ($1,133,276) | $1,603,882 | $5,133,675 | $240,620 | $1,292,307 |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | ($1,133,276) | $1,603,882 | $5,133,675 | $240,620 | $1,292,307 |
Compensation
| Name | Title | Compensation |
| Cereen Varghese | Employee | $266,741 |
| Gary Wicker | Treasurer/CFO | $257,913 |
| Matt Lucas | President | $253,358 |
| Matt Brubaker | Employee | $245,196 |
| Vicki Harris | Employee | $212,342 |
| Jay Keller | Employee | $207,806 |
| William Oechsler | Employee | $207,313 |
| Luis Garcia Seoane | Employee | $193,037 |
| David Fik | Employee | $171,814 |
| Daniel Ferwerda | Assist. Trea | $165,299 |
| William Walker | Assist. Trea | $157,341 |
| Evan Morgan | Employee | $154,338 |
Compensation data as of: 3/31/2023
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 6/14/2024. To update the information below, please email: [email protected]
History
RBC FOUNDER M. R. De Haan was a physician who later in life became a pastor -- well known for his gravelly voice and impassioned Bible teaching. His commitment to ministry was: to lead people of all nations to personal faith and maturity in Christ.
So in 1938, from a small radio station in eastern Michigan, Detroit Bible Class was born. Suddenly the spiritual doctor was making house calls -- to hundreds of thousands of Scripture-hungry listeners.
Even though he was an unlikely radio personality -- with a rough, authoritative voice -- the program worked to great effect. And Dr. De Haan's heavily underlined reflections on the Scripture quickly became a source of biblical wisdom for many. In response to his teaching, listeners asked for transcripts of the broadcast for use as study materials. These resources, soon in great demand, were the precursor of today's widely distributed Discovery Series booklets.
From this spiritual foundation, the Grand Rapids, Michigan-based ministry continues to build upon the foundation of Dr. De Haan's vision and work. With commitment to the biblical principles set forth on the pages of this brochure, RBC Ministries today offers teaching resources to millions worldwide. While Dr. De Haan began this ministry in his basement as a family operation, today the Lord has brought together a staff of over 300 Christian workers in our US headquarters.
The ministry has international offices in 30 countries plus partners throughout the world who distribute RBC resources. Our signature publication, the daily devotional called Our Daily Bread, is translated into 58 languages.
RBC Ministries changed its name from Radio Bible Class in 1994 to reflect the growth of services and resources we offer to friends worldwide.
Program accomplishments
58 languages
150 countries
30 offices