Re:Center Ministries 
The information on this page was last updated 11/29/2022. If you see errors or omissions, please email: [email protected]
Summary
Re:Center is an organization dedicated to the Christian belief that we have a duty to help those in need. In our case, we rely on the gospel to help prevent homelessness, provide relief to the homeless, and rehabilitate the homeless population by repairing their relationship with Christ.
Contact information
Mailing address:
Re:Center Ministries
733 East Jefferson Street
Louisville, KY 40202
Website: recenterministries.org
Phone: 502-584-6543
Email: [email protected]
Organization details
EIN: 611328488
CEO/President: Cory Bledsoe
Chairman: John Ketenbrink
Board size: 11
Founder: Steve P. Holcombe
Ruling year: 1998
Tax deductible: Yes
Fiscal year end: 09/30
Member of ECFA: No
Member of ECFA since:
Purpose
We strive to meet the physical and spiritual needs of those around us.
Mission statement
We reconcile homeless and hurting people to God, family, and community by the power of Christ in partnership with the local church.
Statement of faith
We are committed to and guided by the whole counsel of God as revealed in the Bible. Additionally, our people and our programs adhere to the basic tenants of the Southern Baptist Convention's Baptist Faith and Message 2000.
Donor confidence score
Transparency grade
D
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: Rescue Missions/Homeless Shelters
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 584 of 1021 | 85 of 155 |
| Fund acquisition rating | | 578 of 1024 | 92 of 155 |
| Resource allocation rating | | 754 of 1024 | 112 of 155 |
| Asset utilization rating | | 337 of 1021 | 50 of 155 |
Financial ratios
| Funding ratios | Sector median | 2021 | 2020 | 2019 | 2018 | 2017 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 9% | 11% | 16% | 28% | 22% | 21% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 8% | 9% | 13% | 23% | 19% | 19% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 92% | 86% | 85% | 83% | 87% | 91% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 10% | 10% | 13% | 16% | 16% | 17% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 8% | 14% | 15% | 17% | 13% | 9% |
| Operating ratios | Sector median | 2021 | 2020 | 2019 | 2018 | 2017 |
Program expense ratio Program expense ratio = Program services / Total expenses | 79% | 75% | 74% | 71% | 71% | 70% |
Spending ratio Spending ratio = Total expenses / Total revenue | 86% | 88% | 104% | 144% | 117% | 114% |
Program output ratio Program output ratio = Program services / Total revenue | 68% | 66% | 77% | 103% | 83% | 79% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 14% | 12% | -4% | -44% | -17% | -14% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 12% | 10% | -3% | -26% | -8% | -6% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 9% | 15% | 13% | 13% | 13% | 13% |
| Investing ratios | Sector median | 2021 | 2020 | 2019 | 2018 | 2017 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.53 | 0.63 | 0.63 | 0.72 | 0.51 | 0.40 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 2.92 | 5.86 | 5.95 | 9.90 | 3.70 | 3.08 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.72 | 3.72 | 3.73 | 7.14 | 1.89 | 1.25 |
| Liquidity ratios | Sector median | 2021 | 2020 | 2019 | 2018 | 2017 |
Current ratio Current ratio = Total current assets / Total current liabilities | 14.43 | 6.30 | 4.67 | 2.28 | 7.56 | 12.45 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.06 | 0.16 | 0.21 | 0.44 | 0.13 | 0.08 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 6.10 | 2.72 | 2.53 | 0.94 | 5.51 | 8.86 |
| Solvency ratios | Sector median | 2021 | 2020 | 2019 | 2018 | 2017 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 8% | 14% | 21% | 16% | 14% | 12% |
Debt ratio Debt ratio = Debt / Total assets | 1% | 12% | 17% | 12% | 10% | 10% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 155% | 135% | 126% | 116% | 169% | 217% |
Financials
| Balance sheet | |||||
| Assets | 2021 | 2020 | 2019 | 2018 | 2017 |
| Cash | $218,377 | $226,049 | $120,752 | $470,455 | $682,460 |
| Receivables, inventories, prepaids | $52,633 | $74,712 | $55,858 | $132,750 | $94,068 |
| Short-term investments | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $271,010 | $300,761 | $176,610 | $603,205 | $776,528 |
| Long-term investments | $113,978 | $0 | $0 | $0 | $0 |
| Fixed assets | $1,201,352 | $1,487,470 | $1,570,307 | $1,628,830 | $1,613,089 |
| Other long-term assets | $1,983 | $1,983 | $1,983 | $1,983 | $1,983 |
| Total long-term assets | $1,317,313 | $1,489,453 | $1,572,290 | $1,630,813 | $1,615,072 |
| Total assets | $1,588,323 | $1,790,214 | $1,748,900 | $2,234,018 | $2,391,600 |
| Liabilities | 2021 | 2020 | 2019 | 2018 | 2017 |
| Payables and accrued expenses | $43,024 | $64,444 | $77,441 | $79,792 | $62,377 |
| Other current liabilities | $0 | $0 | $0 | $0 | $0 |
| Total current liabilities | $43,024 | $64,444 | $77,441 | $79,792 | $62,377 |
| Debt | $183,156 | $309,607 | $210,075 | $222,384 | $233,974 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $0 | $0 | $0 | $0 | $0 |
| Total long-term liabilities | $183,156 | $309,607 | $210,075 | $222,384 | $233,974 |
| Total liabilities | $226,180 | $374,051 | $287,516 | $302,176 | $296,351 |
| Net assets | 2021 | 2020 | 2019 | 2018 | 2017 |
| Without donor restrictions | $1,339,201 | $1,396,392 | $1,351,831 | $1,437,420 | $1,404,258 |
| With donor restrictions | $22,942 | $19,771 | $109,553 | $494,422 | $690,991 |
| Net assets | $1,362,143 | $1,416,163 | $1,461,384 | $1,931,842 | $2,095,249 |
| Revenues and expenses | |||||
| Revenue | 2021 | 2020 | 2019 | 2018 | 2017 |
| Total contributions | $976,542 | $916,582 | $729,286 | $850,925 | $775,813 |
| Program service revenue | $153,686 | $144,556 | $142,707 | $121,153 | $68,237 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $7,612 | $25 | $286 | $573 | $696 |
| Other revenue | $3,526 | $16,022 | $3,265 | $4,629 | $5,917 |
| Total other revenue | $164,824 | $160,603 | $146,258 | $126,355 | $74,850 |
| Total revenue | $1,141,366 | $1,077,185 | $875,544 | $977,280 | $850,663 |
| Expenses | 2021 | 2020 | 2019 | 2018 | 2017 |
| Program services | $754,496 | $828,450 | $898,457 | $808,393 | $674,596 |
| Management and general | $148,511 | $149,230 | $159,452 | $148,497 | $130,430 |
| Fundraising | $103,994 | $144,726 | $202,904 | $183,797 | $162,680 |
| Total expenses | $1,007,001 | $1,122,406 | $1,260,813 | $1,140,687 | $967,706 |
| Change in net assets | 2021 | 2020 | 2019 | 2018 | 2017 |
| Surplus (deficit) | $134,365 | ($45,221) | ($385,269) | ($163,407) | ($117,043) |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $134,365 | ($45,221) | ($385,269) | ($163,407) | ($117,043) |
Compensation
| Name | Title | Compensation |
| Cory Bledsoe | Executive Director | $73,622 |
Compensation data as of: 9/30/2021
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 11/29/2022. To update the information below, please email: [email protected]
History
Founded by Steve P. Holcombe, a converted riverboat gambler and double-murderer, Re:Center began in a small room near City Hall where free meals and biblical teaching and counseling were offered to homeless and hurting people in our city. From the very beginning, we have been devoted to breaking the chains of homelessness and other life-dominating issues through the power of the gospel.
1881 - Steve P. Holcombe founds The Holcombe Mission. Each day, people come to the ministry for a meal and to hear Holcombe teach from the Bible.
1885 - The ministry is gifted an old mansion from the City of Louisville. The ministry relocates and expands its services to provide overnight care for men, women, and children.
1886 - The Holcombe Mission becomes Union Gospel Mission.
1943 - The ministry almost goes bankrupt. The Louisville Regional Baptist Association (then the Long Run Baptist Association) intervenes to protect the ministry from closing.
1944 - Union Gospel Mission becomes Central Baptist Mission.
1964 - Central Baptist Mission is renamed Jefferson Street Baptist Center after it merges with two church congregations and relocates to its current location. The ministry shifts from providing overnight care to focusing on daytime programs, including kids' camps, senior activities, and a soup kitchen.
1996 - The church congregation moves out of the facility. The ministry returns to being a parachurch organization that focuses exclusively on caring for people who are homeless and hurting.
1997 - The Louisville Baptist Regional Association (then the Long Run Baptist Association) votes to reestablish Jefferson Street Baptist Center as an independent 501c3. Jefferson Street Baptist Center establishes its own board of directors and bylaws but the association continues to play a crucial role in ministry operations.
2000 - The sanctuary and classrooms are converted into 25 simple, overnight living quarters for men.
2001 - In partnership with the U.S. Department of Housing and Urban Development, the ministry expands its facility to create 11 on-site apartments for men with a history of addiction and a diagnosed mental illness or other disability.
2009 - The ministry severs ties with approximately $90,000 in government funding - approximately 19% of its budget at the time - to reclaim its commitment to proclaiming the gospel through its programs.
2012 - Although the ministry experiences its most difficult financial season in 70 years, the year concludes with the ministry doubling its previous fundraising record. For the first time in its history, the ministry raises more than $1 million to care for people who are homeless and hurting.
2013 - The ministry joins Citygate Network (then the Association of Gospel Rescue Missions), a collective of 300+ gospel-centered organizations serving the homeless in North America. The ministry breaks ground on a $175,000 renovation to its Drop-In Program facilities and the residential LifeChange Program serves more people than ever.
2014 - In September, Jefferson Street Baptist Center becomes Louisville Rescue Mission.
2015 - The board of directors establishes the Holcombe Mercy Ministry Award to honor an individual or company each year who has made a substantial impact on the ministry.
2016 - The ministry earns the highly-coveted accreditation with the Evangelical Council for Financial Accountability.
2017 - In March, the ministry opens Thrift 'n' Thrive, its first social enterprise. Over the course of the summer, the ministry also begins taking steps to provide services through a new campus just across the river in Southern Indiana.
2018 - In September, Louisville Rescue Mission changes its name to Re:Center Ministries to facilitate the launch of a new campus in Southern Indiana. The ministry is financially strong and earns accreditation with the Better Business Bureau.
2019 - As an effect of funding challenges, the ministry consolidates its assets to preserve its core mission while still being able to serve both the Louisville and Southern Indiana communities.
Program accomplishments
Needs
For every $100 we receive, we can provide 10 days of residential care for someone who needs it most. Thank you for your generosity!