Cherry Street Mission Ministries
- Assets
- $11.3m
- Revenue
- $8.2m
- Investments
- $213.3k
- Employees
- 113
- Location
- Toledo, OH
- Founding
- 06/1950
- Data as of
- 12/2022
- EIN
- 34-1133369
Organization Overview
Cherry Street Mission Ministries is located in Toledo, OH. The organization was established in 1950. According to its NTEE Classification (L41) the organization is classified as: Homeless Shelters, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Cherry Street Mission Ministries employed 113 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cherry Street Mission Ministries is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Cherry Street Mission Ministries generated $8.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $6.7m during the year ending 12/2022. While expenses have increased by 1.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ERADICATE POVERTY IN BODY (PHYSICAL), MIND (SOUL), AND SPIRIT (SPIRTUAL).
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOOD SERVICE - LOCATED WITHIN THE LIFE REVITALIZATION CENTER, THE MAC STREET CAFE HAS PROVIDED 154,709 MEALS TO GUESTS AND MEMBERS OF THE COMMUNITY IN NEED EVERY DAY. WE ARE THE ONLY ORGANIZATION IN OUR REGION TO OFFER 3 MEALS A DAY, 7 DAYS A WEEK, FREE OF CHARGE TO ANYONE RESIDING AT CHERRY STREET DURING THE PANDEMIC OR ENGAGED WITH THEREAFTER. CHERRY STREET WORKS WITH LOCAL FARMERS, THE GREATER COMMUNITY, GROCERIES AND RESTAURANTS FOR FRESH, PERISHABLE PRODUCE. THROUGH CASH DONATIONS CHERRY STREET IS ABLE TO PURCHASE NON-PERISHABLES AND STAPLES TO CREATE NUTRITIOUS MEALS.
RESIDENTIAL SHELTER - CHERRY STREET IS THE LARGEST REGIONAL ORGANIZATION SERVING THOSE HOMELESS AND LIVING IN POVERTY. THOSE SERVED COME FROM 20 COUNTIES OF NORTHWEST OHIO AND SOUTHEAST MICHIGAN. WHILE STAYING WITH CHERRY STREET, GUESTS HAVE ACCESS TO SMALL GROUPS, BIBLE STUDY, ARE PROVIDED SAFETY, A BED AND A PLACE TO STORE VALUABLES.
READY FOR LIFE - CHERRY STREET HAS EXPANDED FROM PROVIDING BASIC SERVICES OF FOOD, CLOTHING, AND HOUSING TO INCLUDE READY FOR LIFE. BEST-IN-CLASS COLLABORATORS LOCATED WITHIN THE CHERRY STREET FACILITY IS AN IMPORTANT COMPONENT OF THE READY FOR LIFE PROGRAM. THIS MULTI-FACTED APPROACH IS A PATH TO RESTORE THE SOUL, SPIRIT, BODY AND RELATIONSHIPS OF THOSE WHO HAVE LOST HOPE. READY FOR LIFE INCLUDES: PURPOSEFUL DISCIPLESHIP, MENTORSHIP, COACHING, ACCESS TO BEHAVIORAL HEALTH CARE, EMPLOYMENT, JOB READINESS, WORKFORCE DEVELOPMENT, SUBSCRIPTIVE PERSONAL ASSESSMENTS, GOAL SETTING, EDUCATION, TRAINING, JOB PLACEMENT, HOUSING AND STABILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joshua Rochon Board Chair | OfficerTrustee | 4 | $0 |
John C Wagner Board Member At Large | Trustee | 2 | $0 |
Janell Vickers Secretary | OfficerTrustee | 4 | $0 |
Amy Watkins Board Member At Large (until 7/31/22) | Trustee | 2 | $0 |
Rachel Gagnon Director | Trustee | 2 | $0 |
Stephen Kanagaratnam Director (until 1/14/22) | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rkd Group Llc Direct Mail Consulting, Creation & Produ | 12/30/22 | $240,582 |
Precision Business Solutions Printing & Mailing Services | 12/30/22 | $110,120 |
Nemsys Llc It Equipment & Support | 12/30/22 | $100,337 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $11,147 |
| Related organizations | $0 |
| Government grants | $1,374,780 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,622,866 |
| Noncash contributions included in lines 1a–1f | $662,193 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,008,793 |
| Total Program Service Revenue | $0 |
| Investment income | $3,409 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $225 |
| Net Income from Fundraising Events | $134,664 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,162,673 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $164,125 |
| Compensation of current officers, directors, key employees. | $24,619 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,457,160 |
| Pension plan accruals and contributions | $52,738 |
| Other employee benefits | $442,339 |
| Payroll taxes | $214,414 |
| Fees for services: Management | $448,926 |
| Fees for services: Legal | $28,306 |
| Fees for services: Accounting | $13,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $203,066 |
| Fees for services: Investment Management | $7,074 |
| Fees for services: Other | $68,000 |
| Advertising and promotion | $51,008 |
| Office expenses | $159,762 |
| Information technology | $91,527 |
| Royalties | $0 |
| Occupancy | $345,452 |
| Travel | $49,490 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,665 |
| Interest | $29,689 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $207,591 |
| Insurance | $68,574 |
| All other expenses | $130,908 |
| Total functional expenses | $6,676,150 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,983,319 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $181,568 |
| Accounts receivable, net | $1,344,413 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $210,694 |
| Prepaid expenses and deferred charges | $72,569 |
| Net Land, buildings, and equipment | $7,193,513 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $213,257 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $53,930 |
| Total assets | $11,253,263 |
| Accounts payable and accrued expenses | $749,863 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $445,862 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,195,725 |
| Net assets without donor restrictions | $8,608,623 |
| Net assets with donor restrictions | $1,448,915 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $11,253,263 |