Phil Waldrep Evangelistic Association

The information on this page was last updated 2/16/2023. If you see errors or omissions, please email: [email protected]


Summary

According to a recent Barna Group study, 8 out of the 10 most Post-Christian cities in America are in (or border) New England states. More than 50% of pastors leave New England each year discouraged.

But those numbers are changing! Among the pastors who attend the Pastor's Encouragement Retreat, the number of pastors who leave New England has decreased from 50% to just 7%.

Phil Waldrep Ministries (incorporated in 1980 as Phil Waldrep Evangelistic Association, Inc.) is a non-profit 501 (c)(3) Christian ministry located in Decatur, Alabama. We are governed by a board of directors and led by Southern Baptist evangelist, Phil Waldrep.


Contact information

Mailing address:
Phil Waldrep Ministries
226 Moulton St.
East Decatur, AL 35601

Website: philwaldrep.org

Phone: 256-355-1554

Email: [email protected]


Organization details

EIN: 630782826

CEO/President: Phil Waldrep

Chairman: Phil Waldrep

Board size: 8

Founder: Phil and Debbie Waldrep

Ruling year: 1980

Tax deductible: Yes

Fiscal year end: 12/31

Member of ECFA: Yes

Member of ECFA since: 1998


Purpose

For the Pastor's Encouragement Retreat: 50% of pastors leave New England before their third year of ministry. We exist to change that number.


Mission statement


Statement of faith

Jesus Christ is the Son of God. We believe Jesus Christ was born of a virgin, lived a sinless life, performed literal miracles, died a blood-atoning death, was bodily resurrected from the grave, ascended to the Father, and will return literally in the future.

The Holy Spirit resides in every believer and is there to guide the believer in knowing the mind of Christ.

We believe in one God co-existent in three persons: Father, Son and Holy Spirit.

The Bible is the inerrant, infallible Word of God and is the sole guide for faith and practice.

Salvation is by grace alone without any effort on the part of man.

The local church is the God-ordained institution for fulfilling the purpose and plan of God.

Donor confidence score

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Transparency grade

A

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Evangelism

CategoryRatingOverall rankSector rank
Overall efficiency rating624 of 111224 of 46
Fund acquisition rating428 of 111319 of 46
Resource allocation rating870 of 111336 of 46
Asset utilization rating472 of 111217 of 46

Financial ratios

Funding ratiosSector median20222021202020192018
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
7%1%0%4%3%2%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
7%0%0%1%0%0%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
97%14%13%23%11%13%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
6%0%0%1%0%0%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
3%86%87%77%89%87%
 
Operating ratiosSector median20222021202020192018
Program expense ratio Program expense ratio =
Program services /
Total expenses
82%74%76%89%76%71%
Spending ratio Spending ratio =
Total expenses /
Total revenue
99%101%79%112%89%93%
Program output ratio Program output ratio =
Program services /
Total revenue
79%75%60%99%68%66%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
1%-1%21%-12%11%7%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
1%-2%39%-16%28%24%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
10%25%24%10%23%29%
 
Investing ratiosSector median20222021202020192018
Total asset turnover Total asset turnover =
Total expenses /
Total assets
1.031.521.250.951.862.12
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
1.471.411.371.481.551.42
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
2.242.151.711.412.883.01
 
Liquidity ratiosSector median20222021202020192018
Current ratio Current ratio =
Total current assets /
Total current liabilities
11.284.605.261.803.002.42
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.090.220.190.550.330.41
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
4.544.375.703.792.782.34
 
Solvency ratiosSector median20222021202020192018
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
12%15%14%38%22%29%
Debt ratio Debt ratio =
Debt /
Total assets
0%0%0%0%0%0%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
71%56%69%66%42%33%

Financials

Balance sheet
 
Assets20222021202020192018
Cash$8,194$197,842$26,973$56,204$109,383
Receivables, inventories, prepaids$800,497$662,237$494,366$730,587$877,417
Short-term investments$3,278,465$3,377,191$2,763,596$2,120,071$1,539,793
Other current assets$0$0$0$0$0
Total current assets$4,087,156$4,237,270$3,284,935$2,906,862$2,526,593
Long-term investments$0$0$0$0$0
Fixed assets$1,692,175$1,546,674$1,572,884$1,590,931$1,054,173
Other long-term assets$0$0$0$0$0
Total long-term assets$1,692,175$1,546,674$1,572,884$1,590,931$1,054,173
Total assets$5,779,331$5,783,944$4,857,819$4,497,793$3,580,766
 
Liabilities20222021202020192018
Payables and accrued expenses$14,531$34,212$12,255$130,592$216,481
Other current liabilities$873,516$771,179$1,810,725$836,982$828,582
Total current liabilities$888,047$805,391$1,822,980$967,574$1,045,063
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$888,047$805,391$1,822,980$967,574$1,045,063
 
Net assets20222021202020192018
Without donor restrictions$4,711,563$4,978,553$2,972,754$3,524,479$2,492,163
With donor restrictions$179,721$0$62,085$5,740$43,540
Net assets$4,891,284$4,978,553$3,034,839$3,530,219$2,535,703
 
Revenues and expenses
 
Revenue20222021202020192018
Total contributions$1,215,372$1,158,482$958,100$1,002,487$1,075,075
Program service revenue$8,590,504$7,400,457$2,289,999$7,692,146$7,228,961
Membership dues$0$0$0$0$0
Investment income$0$710$1,592($39,233)$3,198
Other revenue($1,106,726)$614,498$882,459$709,749($100,201)
Total other revenue$7,483,778$8,015,665$3,174,050$8,362,662$7,131,958
Total revenue$8,699,150$9,174,147$4,132,150$9,365,149$8,207,033
 
Expenses20222021202020192018
Program services$6,537,019$5,478,362$4,106,935$6,383,034$5,394,440
Management and general$2,233,878$1,748,224$484,672$1,959,715$2,185,025
Fundraising$15,522$3,847$35,923$27,887$16,555
Total expenses$8,786,419$7,230,433$4,627,530$8,370,636$7,596,020
 
Change in net assets20222021202020192018
Surplus (deficit)($87,269)$1,943,714($495,380)$994,513$611,013
Other changes in net assets$0$0$0$0$0
Total change in net assets($87,269)$1,943,714($495,380)$994,513$611,013

Compensation

NameTitleCompensation
Phil WaldrepChairman$149,640
Thomas SchwindlingBoard Member$125,800

Compensation data as of: 12/31/2022


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 2/16/2023. To update the information below, please email: [email protected]


History


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