The Foundry Ministries 
The information on this page was last updated 11/22/2022. If you see errors or omissions, please email: [email protected]
Summary
Since our inception, The Foundry Ministries has been God's work in progress. As the tragedies of substance abuse, broken families, poor choices and economic hardships bring an ever-increasing number of men, women and families to our doors, we continue to create more opportunities to share His hope and mercy with the homeless and broken.
Contact information
Mailing address:
The Foundry Ministries
PO Box 824
Bessemer, AL 35021
Website: foundryministries.com
Phone: 205-424-4673
Email: [email protected]
Organization details
EIN: 630624278
CEO/President: Micah Andrews
Chairman: Edmund Perry
Board size: 15
Founder: Sam Reynolds
Ruling year: 1972
Tax deductible: Yes
Fiscal year end: 06/30
Member of ECFA: Yes
Member of ECFA since: 2022
Purpose
The Foundry helps hundreds of families each year through Christ-centered recovery. Permanently transformed lives through Christ-centered ministries is the vision behind our story and our process.
Mission statement
To restore hope and rebuild the lives of the addict, the ex-inmate and the homeless through Christ-centered Recovery, Reentry and Rescue.
Statement of faith
Donor confidence score
Transparency grade
A
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: Rescue Missions/Homeless Shelters
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 145 of 1085 | 22 of 144 |
| Fund acquisition rating | | 414 of 1088 | 60 of 144 |
| Resource allocation rating | | 340 of 1088 | 40 of 144 |
| Asset utilization rating | | 108 of 1085 | 10 of 144 |
Financial ratios
| Funding ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 11% | 8% | 9% | 11% | 8% | 10% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 9% | 7% | 8% | 9% | 7% | 7% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 92% | 85% | 85% | 82% | 79% | 74% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 11% | 8% | 8% | 8% | 6% | 7% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 8% | 15% | 15% | 18% | 21% | 26% |
| Operating ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Program expense ratio Program expense ratio = Program services / Total expenses | 79% | 83% | 85% | 87% | 90% | 89% |
Spending ratio Spending ratio = Total expenses / Total revenue | 87% | 86% | 93% | 111% | 104% | 107% |
Program output ratio Program output ratio = Program services / Total revenue | 68% | 72% | 79% | 97% | 93% | 96% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 13% | 14% | 7% | -11% | -4% | -7% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 9% | 42% | 29% | -65% | -17% | -24% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 9% | 8% | 7% | 5% | 4% | 4% |
| Investing ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.52 | 1.22 | 1.37 | 1.53 | 1.61 | 1.49 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 2.61 | 3.48 | 5.19 | 7.00 | 9.92 | 11.09 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.62 | 4.23 | 7.11 | 10.69 | 16.00 | 16.51 |
| Liquidity ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Current ratio Current ratio = Total current assets / Total current liabilities | 14.13 | 3.12 | 1.02 | 0.62 | 0.84 | 0.87 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.07 | 0.32 | 0.98 | 1.61 | 1.19 | 1.15 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 6.85 | 1.93 | 0.03 | -0.68 | -0.14 | -0.11 |
| Solvency ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 7% | 52% | 67% | 76% | 61% | 57% |
Debt ratio Debt ratio = Debt / Total assets | 0% | 20% | 26% | 29% | 18% | 18% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 167% | 40% | 24% | 16% | 24% | 29% |
Financials
| Balance sheet | |||||
| Assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| Cash | $1,458,912 | $697,697 | $398,037 | $208,457 | $208,391 |
| Receivables, inventories, prepaids | $350,631 | $345,651 | $353,726 | $319,894 | $298,345 |
| Short-term investments | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $1,809,543 | $1,043,348 | $751,763 | $528,351 | $506,736 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Fixed assets | $4,437,011 | $4,325,571 | $4,475,066 | $4,672,920 | $5,075,223 |
| Other long-term assets | $45,882 | $47,055 | $38,055 | $39,855 | $39,855 |
| Total long-term assets | $4,482,893 | $4,372,626 | $4,513,121 | $4,712,775 | $5,115,078 |
| Total assets | $6,292,436 | $5,415,974 | $5,264,884 | $5,241,126 | $5,621,814 |
| Liabilities | 2022 | 2021 | 2020 | 2019 | 2018 |
| Payables and accrued expenses | $579,492 | $326,784 | $484,079 | $530,168 | $459,807 |
| Other current liabilities | $0 | $698,945 | $725,000 | $96,423 | $124,961 |
| Total current liabilities | $579,492 | $1,025,729 | $1,209,079 | $626,591 | $584,768 |
| Debt | $1,228,830 | $1,383,600 | $1,532,690 | $944,700 | $1,007,477 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $1,445,261 | $1,242,812 | $1,277,055 | $1,619,015 | $1,634,860 |
| Total long-term liabilities | $2,674,091 | $2,626,412 | $2,809,745 | $2,563,715 | $2,642,337 |
| Total liabilities | $3,253,583 | $3,652,141 | $4,018,824 | $3,190,306 | $3,227,105 |
| Net assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| Without donor restrictions | $3,038,853 | $1,763,833 | $1,240,500 | $2,050,820 | $2,394,709 |
| With donor restrictions | $0 | $0 | $5,560 | $0 | $0 |
| Net assets | $3,038,853 | $1,763,833 | $1,246,060 | $2,050,820 | $2,394,709 |
| Revenues and expenses | |||||
| Revenue | 2022 | 2021 | 2020 | 2019 | 2018 |
| Total contributions | $7,584,719 | $6,781,286 | $5,907,950 | $6,424,476 | $5,752,722 |
| Program service revenue | $708,741 | $878,585 | $1,023,764 | $1,370,590 | $1,652,194 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | ($27,030) | $5,669 | $11,989 | ($26,662) | $67 |
| Other revenue | $664,995 | $266,934 | $288,049 | $338,895 | $393,704 |
| Total other revenue | $1,346,706 | $1,151,188 | $1,323,802 | $1,682,823 | $2,045,965 |
| Total revenue | $8,931,425 | $7,932,474 | $7,231,752 | $8,107,299 | $7,798,687 |
| Expenses | 2022 | 2021 | 2020 | 2019 | 2018 |
| Program services | $6,391,158 | $6,289,321 | $6,986,708 | $7,579,163 | $7,484,022 |
| Management and general | $621,493 | $510,037 | $404,873 | $336,767 | $331,467 |
| Fundraising | $643,754 | $615,343 | $644,931 | $535,258 | $552,798 |
| Total expenses | $7,656,405 | $7,414,701 | $8,036,512 | $8,451,188 | $8,368,287 |
| Change in net assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| Surplus (deficit) | $1,275,020 | $517,773 | ($804,760) | ($343,889) | ($569,600) |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $1,275,020 | $517,773 | ($804,760) | ($343,889) | ($569,600) |
Compensation
| Name | Title | Compensation |
| Micah Andrews | Chief Executive Officer | $115,132 |
| Joey Daly IV | Chief Development Office | $83,112 |
| Brandon Lackey | Chief Program Officer | $80,676 |
| Darrell Garrett | Chief Operating Officer | $77,710 |
| Quinn Barefield | Chief Business Officer | $70,092 |
| Josh Heintz | Chief Enterprise Developme | $41,388 |
| Victor C Slay | Chief Financial Officer | $37,541 |
Compensation data as of: 6/30/2022
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 11/22/2022. To update the information below, please email: [email protected]
History
1971 - Bessemer Rescue Mission is founded by Sam Reynolds. Rev. Bob Bell, a recovered alcoholic, is appointed the first executive director.
1978 - With the help of Board Chairman Rev. Gerald Price and his friends, Bessemer Rescue Mission constructs a 5,000-square-foot building.
1992 - Bessemer Rescue Mission opens a shelter for women.
1996 - Rev. Bill Heintz becomes executive director of the Bessemer Rescue Mission with a vision to provide a place for men and women addicted to drugs and alcohol to permanently transform their lives through the power of Jesus Christ.
1997 - First Alliance Church in Bessemer is purchased and renovated to provide additional beds for men in the long-term Recovery Program, marking the beginning of the City of Hope.
1998 - Auto Center opens.
2004 - City of Hope changes its name to The Foundry Rescue Mission and Recovery Center. The original mission building is renovated to include a commercial kitchen, dining room, and food pantry. The Foundry Thrift Store relocates and becomes Alabama's largest thrift store.
2005 - The Foundry merges with Re-Entry Ministries. The First Baptist Church of Bessemer is purchased to become the Foundry Women's Center.
2006 - The Foundry Medical Center opens.
2007 - The Foundry opens a new Worship Center, which includes a 600-seat auditorium for weekly worship services.
2008 - The Women's Dormitory opens, offering shelter for 52 women in the Recovery Program. The Foundry Farm opens near Cullman, AL as an extension of the Men's Recovery Program. The Education Center opens.
2010 - The former women's facility is renovated to provide transitional housing for up to 12 women who have completed the Recovery Program. The Foundry Dental Center opens.
2011 - The Foundry celebrates 40 years of reshaping lives. A new Foundry Thrift Store opens in Cullman.
2012 - The Foundry Thrift Store in Bessemer relocates to a larger space in Fairfield.
2014 - The name is updated to The Foundry Ministries. A collaboration forms with Changes Lives Christian Center (CLCC) in Birmingham.
2016 - The Foundry Farm expands to double capacity in Cullman. Micah Andrews becomes CEO.
2017 - The Foundry Thrift Store in Pelham is opened.
Program accomplishments
Our Impact in 2019
831 program participants
100,000 nights of shelter
3,500 neighbors served monthly
920 meals served daily