CHERRY STREET MISSION MINISTRIES

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1947

Legal Domicile

Principal Officer

ANN EBBERT

Phone

4192425141

Tax Period

2023-12-31 to 2024-06-30

CHERRY STREET MISSION MINISTRIES, founded in 1947, is a community nonprofit in the Housing & Shelter sector that reported $2.4M in total revenue in fiscal year 2023. Revenue fell 65% from the prior year — a significant decline worth monitoring. Expenses of $3.5M exceeded revenue, resulting in a 44% operating deficit.

Mission

TO ERADICATE POVERTY IN BODY (PHYSICAL), MIND (SOUL), AND SPIRIT (SPIRITUAL).

Program Service Accomplishments

Program 1

Expenses: $720,215

FOOD SERVICE: LOCATED WITHIN CHERRY STREET MISSION'S LIFE REVITALIZATION CENTER, THE MAC STREET CAFE IS THE ONLY LOCAL CAFETERIA TO OFFER 3 WARM MEALS A DAY, 7 DAYS A WEEK, 365 DAYS A YEAR (INCLUDING HOLIDAYS) FREE OF CHARGE TO SHELTER RESIDENTS AND COMMUNITY MEMBERS IN NEED. BETWEEN JANUARY-JUNE OF 2024, CHERRY STREET'S CAFE PROVIDED 112,416 MEALS. CHERRY STREET WORKS WITH LOCAL FARMERS, COMMUNITY PARTNERS, FOOD BANKS, AND RESTAURANTS TO SUPPLY FRESH, PERISHABLE PRODUCE. IT SUPPLEMENTS THESE SOURCES WITH CASH DONATIONS TO PURCHASE OTHER STAPLES TO CREATE NUTRITIOUS MEALS. CHERRY STREET FOCUSES ON SERVING HEALTHY MEALS AND OFFERING CHOICES TO ITS GUESTS.

Program 2

Expenses: $1,038,112

RESIDENTIAL SHELTER: CHERRY STREET MISSION (CSM) IS A LEADING PROVIDER OF EMERGENCY SHELTER IN NORTHWEST OHIO AND SOUTHEAST MICHIGAN. REPRESENTING 82% OF THE LOCAL CONTINUUM OF CARE'S SINGLE...

RESIDENTIAL SHELTER: CHERRY STREET MISSION (CSM) IS A LEADING PROVIDER OF EMERGENCY SHELTER IN NORTHWEST OHIO AND SOUTHEAST MICHIGAN. REPRESENTING 82% OF THE LOCAL CONTINUUM OF CARE'S SINGLE EMERGENCY BEDS, CHERRY STREET PROVIDES SAFE OVERNIGHT ACCOMMODATIONS, ACCESS TO HYGIENE FACILITIES, CLOTHING DISTRIBUTION, A PLACE TO STORE VALUABLES AND RECEIVE MAIL, AND THE SAFETY THAT COMES FROM RESIDENTIAL SUPPORT.

Program 3

Expenses: $706,560

READY FOR LIFE: CHERRY STREET IS COMMITTED TO MEETING THE PHYSICAL, EMOTIONAL, AND SPIRITUAL NEEDS OF THE MOST VULNERABLE INDIVIDUALS IN NORTHWEST OHIO, SPECIFICALLY ADULTS EXPERIENCING HOMELESSNESS. CHERRY STREET HAS EXPANDED ITS SERVICES BEYOND PROVIDING EMERGENCY SERVICES ONLY TO INCLUDE A COMPREHENSIVE CASE MANAGEMENT APPROACH CALLED READY FOR LIFE. THROUGH A UNIQUE COMBINATION OF CASE MANAGEMENT, RESOURCE NAVIGATION AND PARTNERSHIP COLLABORATION, THE READY FOR LIFE PROGRAM OFFERS A MULTI- FACETED APPROACH 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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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,289,320

Program Service Revenue $0

Investment Income $2,578

Other Revenue $124,747

TOTAL REVENUE $2,416,645

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,923,901

Fundraising Expenses $291,381

Program Expenses $2,743,402

Other Expenses $1,422,958

TOTAL EXPENSES $3,482,804

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,416,645	$6,969,561	-0.7%
Expenses	$3,482,804	$7,154,432	-0.5%
Net Income	$-1,066,159	$-184,871	+4.8%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

245

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$90,214

Total Directors