Bread Of Life Ministries Inc
Bread Of Life Ministries: Consistent Revenue, Strong Asset Growth, but Transparency Concerns
EIN: 222717615 · Augusta, ME · NTEE: L41Z · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $2.3M |
| Total Expenses | $2.0M |
| Program Spending | 70% |
| Net Assets | $3.9M |
| Transparency Score | 75/100 |
Is Bread Of Life Ministries Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Bread Of Life Ministries Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Bread Of Life Ministries Inc
Bread Of Life Ministries Inc (EIN: 222717615) is a nonprofit organization based in Augusta, ME, classified under NTEE code L41Z. The organization reported total revenue of $2.3M and total assets of $5.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Bread Of Life Ministries Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Bread Of Life Ministries Inc is a mid-size nonprofit that has been operating for 39 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 5.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.2M |
| Total Expenses | $2.0M |
| Surplus / Deficit | +$253K |
| Total Assets | $5.0M |
| Total Liabilities | $1.1M |
| Net Assets | $3.9M |
| Operating Margin | 11.5% |
| Debt-to-Asset Ratio | 22.5% |
| Months of Reserves | 30.9 months |
Financial Health Grade: A
In 2023, Bread Of Life Ministries Inc reported a surplus of $253K with revenue exceeding expenses, holds 30.9 months of operating reserves (strong position), has a debt-to-asset ratio of 22.5% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Bread Of Life Ministries Inc's revenue has grown at a compound annual growth rate (CAGR) of 5.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -17.9% | -11.2% | +4.6% |
| 2022 | +37.2% | +21.6% | +3.5% |
| 2021 | -5.4% | -4.3% | +5.4% |
| 2020 | +10.2% | +3.2% | +2.8% |
| 2019 | +8.1% | +12.2% | -1.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1987 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Bread Of Life Ministries Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 70%
- fundraising: 15%
According to IRS 990 filings, Bread Of Life Ministries Inc allocates its expenses as follows: admin: 15%, programs: 70%, fundraising: 15%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $253K, with revenue exceeding expenses.
- Debt-to-asset ratio: 22.5%.
Executive Compensation Analysis
Executive compensation cannot be assessed from the provided data, as no specific figures for salaries or benefits of key personnel are included in the filings.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Bread Of Life Ministries Inc's IRS 990 filings:
- Lack of detailed breakdown for program, administrative, and fundraising expenses in the provided data makes it challenging to fully evaluate financial efficiency.
- The provided data does not include information on executive compensation, which is a common red flag for transparency.
- A notable decrease in revenue from $2,688,939 in 2022 to $2,206,340 in 2023 warrants further investigation into its causes and impact on operations.
Strengths
The following positive indicators were identified for Bread Of Life Ministries Inc:
- Consistent revenue generation over several years, with revenues generally above $1.8 million annually.
- Significant growth in assets from $4,118,109 in 2017 to $5,034,597 in 2023, indicating financial stability and capacity.
- Low liability-to-asset ratio, with liabilities consistently below 30% of total assets, suggesting good financial health.
- Positive net assets (assets exceeding liabilities) in all reported years, demonstrating a strong financial foundation.
Frequently Asked Questions about Bread Of Life Ministries Inc
Is Bread Of Life Ministries Inc a legitimate charity?
Bread Of Life Ministries Inc (EIN: 222717615) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $2.3M. 3 red flags identified. 4 strengths noted. Financial health grade: A.
How does Bread Of Life Ministries Inc spend its money?
Bread Of Life Ministries Inc directs 70% of its spending to programs and services. Fundraising costs 15%. This meets the 65% industry benchmark.
Are donations to Bread Of Life Ministries Inc tax-deductible?
Bread Of Life Ministries Inc is registered as a tax-exempt nonprofit (EIN: 222717615). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Bread Of Life Ministries Inc's spending goes to programs?
Bread Of Life Ministries Inc directs 70% to programs, 15% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Bread Of Life Ministries Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Bread Of Life Ministries Inc is above average for NTEE category L41Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Bread Of Life Ministries Inc located?
Bread Of Life Ministries Inc is headquartered in Augusta, Maine and files with the IRS under EIN 222717615. It is classified under NTEE code L41Z.
How many years of IRS 990 filings does Bread Of Life Ministries Inc have?
Bread Of Life Ministries Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $2.3M in total revenue.
What does Bread Of Life Ministries Inc do?
Bread Of Life Ministries Inc is a nonprofit organization in the Housing & Shelter sector, located in Augusta, Maine. It is classified under NTEE code L41Z.
How much revenue does Bread Of Life Ministries Inc have?
Bread Of Life Ministries Inc reported total revenue of $2,338,254. Based on 13 IRS 990 filings on record.
What are Bread Of Life Ministries Inc's total assets?
Bread Of Life Ministries Inc holds total assets of $5,446,367 as reported in IRS 990 filings.
Where is Bread Of Life Ministries Inc located?
Bread Of Life Ministries Inc is based in Augusta, Maine.
What is Bread Of Life Ministries Inc's EIN?
Bread Of Life Ministries Inc's Employer Identification Number (EIN) is 222717615. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Bread Of Life Ministries Inc?
Bread Of Life Ministries Inc is classified under NTEE code L41Z (Housing & Shelter).
Is Bread Of Life Ministries Inc a registered 501(c)(3)?
Yes, Bread Of Life Ministries Inc is recognized as a tax-exempt organization by the IRS. EIN: 222717615.
Does Bread Of Life Ministries Inc file IRS Form 990?
Yes, Bread Of Life Ministries Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Bread Of Life Ministries Inc's revenue in 2023?
In the 202312 filing period, Bread Of Life Ministries Inc reported total revenue of $2,206,340, total expenses of $1,953,545, and net assets of $5,034,597.
Is Bread Of Life Ministries Inc's revenue growing or declining?
Bread Of Life Ministries Inc's revenue is declining. Revenue went from $2,688,939 (202212) to $2,206,340 (202312), a -17.9% change. Based on 13 filings on record.
What is Bread Of Life Ministries Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Bread Of Life Ministries Inc covers tax period 202312. It shows revenue of $2,206,340, expenses of $1,953,545, total assets of $5,034,597, and liabilities of $1,132,444.
How much does Bread Of Life Ministries Inc spend on programs vs administration?
Based on IRS 990 analysis, Bread Of Life Ministries Inc allocates approximately 70% of expenses to program services, 15% to administrative costs, and 15% to fundraising. Program spending is moderate relative to overhead.
Is Bread Of Life Ministries Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Bread Of Life Ministries Inc appears trustworthy. Mission Score: 75/100 (Good). 3 red flags identified. 4 strengths noted.
What are the red flags for Bread Of Life Ministries Inc?
The following concerns were identified: Lack of detailed breakdown for program, administrative, and fundraising expenses in the provided data makes it challenging to fully evaluate financial efficiency.. The provided data does not include information on executive compensation, which is a common red flag for transparency.. A notable decrease in revenue from $2,688,939 in 2022 to $2,206,340 in 2023 warrants further investigation into its causes and impact on operations.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Bread Of Life Ministries Inc's strengths?
Positive indicators for Bread Of Life Ministries Inc include: Consistent revenue generation over several years, with revenues generally above $1.8 million annually.. Significant growth in assets from $4,118,109 in 2017 to $5,034,597 in 2023, indicating financial stability and capacity.. Low liability-to-asset ratio, with liabilities consistently below 30% of total assets, suggesting good financial health.. Positive net assets (assets exceeding liabilities) in all reported years, demonstrating a strong financial foundation.. These findings are derived from AI analysis of the organization's financial filings.
How does Bread Of Life Ministries Inc compensate executives?
Executive compensation cannot be assessed from the provided data, as no specific figures for salaries or benefits of key personnel are included in the filings. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
What factors contributed to the substantial increase in assets from $4,118,109 in 2017 to $5,034,597 in 2023, and how are these assets being utilized to further the mission?
The provided data shows a consistent increase in assets over the years. While the specific drivers (e.g., investments, property acquisition, donations) are not detailed, understanding the composition and deployment of these assets is crucial to assess their impact on program delivery and long-term sustainability.
Given the revenue fluctuation, particularly the drop from $2,688,939 in 2022 to $2,206,340 in 2023, what strategies are in place to stabilize and grow funding streams?
The data indicates variability in annual revenue. A detailed understanding of the organization's fundraising strategies, donor retention rates, and diversification of funding sources would be necessary to evaluate its resilience and future financial outlook.
Filing History
IRS 990 filing history for Bread Of Life Ministries Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Bread Of Life Ministries Inc's revenue has grown by 79.5%, moving from $1.2M to $2.2M. Total assets increased by 23.6% over the same period, from $4.1M to $5.0M. Total functional expenses rose by 53.9%, from $1.3M to $2.0M. In its most recent filing year (2023), Bread Of Life Ministries Inc reported a surplus of $253K, with revenue exceeding expenses. The organization holds $1.1M in liabilities against $5.0M in assets (debt-to-asset ratio: 22.5%), resulting in net assets of $3.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.2M | $2.0M | $5.0M | $1.1M | — | — |
| 2022 | $2.7M | $2.2M | $4.8M | $1.3M | — | — |
| 2021 | $2.0M | $1.8M | $4.6M | $1.5M | — | View 990 |
| 2020 | $2.1M | $1.9M | $4.4M | $1.4M | — | View 990 |
| 2019 | $1.9M | $1.8M | $4.3M | $1.6M | — | View 990 |
| 2018 | $1.7M | $1.6M | $4.3M | $1.8M | — | View 990 |
| 2017 | $1.4M | $1.7M | $4.1M | $1.6M | — | — |
| 2016 | $2.0M | $1.7M | $4.3M | $1.6M | — | View 990 |
| 2015 | $1.3M | $1.4M | $3.9M | $1.6M | — | View 990 |
| 2014 | $1.4M | $1.3M | $3.9M | $1.6M | — | View 990 |
| 2013 | $1.4M | $1.4M | $4.0M | $1.8M | — | View 990 |
| 2012 | $1.2M | $1.2M | $4.0M | $1.9M | — | View 990 |
| 2011 | $1.2M | $1.3M | $4.1M | $1.9M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.2M, expenses of $2.0M, and assets of $5.0M (revenue -17.9% year-over-year).
- 2022: Revenue of $2.7M, expenses of $2.2M, and assets of $4.8M (revenue +37.2% year-over-year).
- 2021: Revenue of $2.0M, expenses of $1.8M, and assets of $4.6M (revenue -5.4% year-over-year).
- 2020: Revenue of $2.1M, expenses of $1.9M, and assets of $4.4M (revenue +10.2% year-over-year).
- 2019: Revenue of $1.9M, expenses of $1.8M, and assets of $4.3M (revenue +8.1% year-over-year).
- 2018: Revenue of $1.7M, expenses of $1.6M, and assets of $4.3M (revenue +22.2% year-over-year).
- 2017: Revenue of $1.4M, expenses of $1.7M, and assets of $4.1M (revenue -30.6% year-over-year).
- 2016: Revenue of $2.0M, expenses of $1.7M, and assets of $4.3M (revenue +54.4% year-over-year).
- 2015: Revenue of $1.3M, expenses of $1.4M, and assets of $3.9M (revenue -4.7% year-over-year).
- 2014: Revenue of $1.4M, expenses of $1.3M, and assets of $3.9M (revenue +3.0% year-over-year).
- 2013: Revenue of $1.4M, expenses of $1.4M, and assets of $4.0M (revenue +15.8% year-over-year).
- 2012: Revenue of $1.2M, expenses of $1.2M, and assets of $4.0M (revenue -5.0% year-over-year).
- 2011: Revenue of $1.2M, expenses of $1.3M, and assets of $4.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Bread Of Life Ministries Inc:
Data Sources and Methodology
This transparency report for Bread Of Life Ministries Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.