Rbc Ministries
- Assets
- $21.3m
- Revenue
- $64.9m
- Investments
- $0.0
- Employees
- 305
- Location
- Grand Rapids, MI
- Founding
- 05/1943
- Data as of
- 03/2023
- EIN
- 38-1613981
Organization Overview
Rbc Ministries, operating under the name Our Daily Bread Ministries, is located in Grand Rapids, MI. The organization was established in 1943. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. As of 03/2023, Our Daily Bread Ministries employed 305 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Our Daily Bread 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 03/2023, Our Daily Bread Ministries generated $64.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $66.0m during the year ending 03/2023. While expenses have increased by 4.1% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
RBC MINISTRIES' MISSION IS TO MAKE THE LIFE-CHANGING WISDOM OF THE BIBLE UNDERSTANDABLE AND ACCESSIBLE TO ALL THROUGH PUBLICATION OF DEVOTIONAL MATERIALS, INTERNET MINISTRY, AND RADIO BROADCASTING
Describe the Organization's Program Activity:
OUR DAILY BREAD - A DEVOTIONAL PUBLISHED MONTHLY FOR INDIVIDUALS AND FAMILIES WHO DESIRE A CLOSE RELATIONSHIP WITH GOD.
INTERNATIONAL MINISTRIES 1,946,150 INTERNET TEACHING 1,091,125 UNALLOCATED HEALTH INSURANCE CREDIT 154,623
DAILY BIBLE TEACHING - BIBLE TEACHING PRESENTED IN A PRACTICAL AND UNDERSTANDABLE WAY THROUGH VIDEOS, RADIO, "OUR DAILY BREAD DEVOTIONAL", "DISCOVER THE WORD", AND LITERATURE - "DISCOVERY SERIES" AS WELL AS PRODUCTION OF BOOKS AND MUSIC TITLES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Luis Garcia Seoane Employee | 40 | $185,657 | |
Jennie Dimkoff Director | Trustee | 1 | $0 |
Peter Ameadaji Director | Trustee | 1 | $0 |
Gary Wicker Treasurer/cfo | Officer | 40 | $232,306 |
William Bontekoe Director | OfficerTrustee | 1 | $0 |
Diane Maher Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rk Media Media Relations | 3/30/23 | $110,140 |
Kent Communications Mailing | 3/30/23 | $428,429 |
Qburst Technologies It Consulting | 3/30/23 | $636,459 |
Conic Apps Llc Consulting | 3/30/23 | $158,693 |
Jeremy Sloan Proj Mgmt | 3/30/23 | $128,160 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $27,553 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $5,991,966 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $51,288,792 |
| Noncash contributions included in lines 1a–1f | $56,076 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $57,308,311 |
| Total Program Service Revenue | $5,220,207 |
| Investment income | $41,146 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $41,877 |
| Net Rental Income | $132,582 |
| Net Gain/Loss on Asset Sales | -$3,510 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $64,910,282 |
| 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. | $1,611,305 |
| Compensation of current officers, directors, key employees. | $225,583 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $18,516,437 |
| Pension plan accruals and contributions | $666,524 |
| Other employee benefits | $2,613,200 |
| Payroll taxes | $1,459,965 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,478,206 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $402,722 |
| Occupancy | $0 |
| Travel | $604,944 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $32,137 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,378,102 |
| Insurance | $0 |
| All other expenses | $33,968,028 |
| Total functional expenses | $66,043,558 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,661,388 |
| Savings and temporary cash investments | $19,554 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $464,168 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,544,915 |
| Prepaid expenses and deferred charges | $769,242 |
| Net Land, buildings, and equipment | $13,402,197 |
| Investments—publicly traded securities | $20,237 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,428,919 |
| Total assets | $21,310,620 |
| Accounts payable and accrued expenses | $1,319,641 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,867,249 |
| Total liabilities | $5,186,890 |
| Net assets without donor restrictions | $16,123,730 |
| Net assets with donor restrictions | $0 |
| 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 | $21,310,620 |