CHRISTIAN HERALD ASSN INC
Mission Statement
One of the nation's oldest rescue missions, The Bowery Mission has provided basic needs assistance to New Yorkers suffering from homelessness and hunger since 1879. Every year we build on this legacy, driven by our desire to deliver the most effective care. Today, The Bowery Mission offers programs and services in nine locations, with the goal of preventing homelessness and partnering with individuals to become independent, self-sustaining citizens. In November of 2017, The Bowery Mission joined forces with New York City Rescue Mission to create collective impact for our neighbors in need. As two of America's oldest homeless services agencies, we are leveraging a combined 300 years of service to share resources and provide an enhanced continuum of care to our guests and clients. Our official mission statement reads: "The Bowery Mission serves men, women, and children caught in cycles of poverty, hopelessness, and dependencies of many kinds, and sees their lives transformed to hope, joy, and lasting productivity."
Financial Overview — FY 2024
Compared with Peers
FY 2024| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
72.8% | 84.6% |
P10P90
|
Bottom quarter |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
5.0% | 9.7% |
P10P90
|
Above median |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
22.3% | 2.5% |
P10P90
|
Bottom quarter |
|
Fundraising efficiency
Fundraising expenses / gross fundraising income
· lower is better
|
3247.8% | 664.7% |
P10P90
|
Bottom quarter |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
25.1 mo | 10.8 mo |
P10P90
|
Top quarter |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
11.3% | 12.8% |
P10P90
|
Above median |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
95.1% | 91.3% |
P10P90
|
Below median |
|
Revenue growth
Year over year revenue growth
|
-1.3% | 3.5% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
0.3% | 6.4% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
-5.2% | 1.6% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2024 | $24.5M | $25.7M | $53.9M | 72.8% | 235 |
| 2023 | $24.8M | $25.7M | $31.9M | 72.0% | 238 |
| 2022 | $24.6M | $25.5M | $32.2M | 70.5% | 179 |
| 2021 | $30.3M | $25.3M | N/A | — | 125 |
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