Haven of Rest Ministries

The information on this page was last updated 6/27/2022. If you see errors or omissions, please email: info@ministrywatch.com


Summary

On any given day, there are nearly 850 homeless people in Summit County. Even more are hungry and struggling. Haven of Rest Ministries plays a vital role in our community by addressing this growing need and helping to break the cycle of homelessness so that people can live brighter, hope-filled lives.


Contact information

Mailing address:
Haven of Rest Ministries
175 East Market Street
Akron, OH 44308

Website: www.havenofrest.org

Phone: (330) 535-1563

Email: hrm@havenofrest.org


Organization details

EIN: 340750345

CEO/President: Rev. Jeffrey Kaiser

Chairman: Michael R. Kura

Board size: 13

Founder: Rev. Charles C. and Marjorie Ruth Thomas

Ruling year: 1943

Tax deductible: Yes

Fiscal year end: 06/30

Member of ECFA: Yes

Member of ECFA since: 1987


Purpose

We believe that all people are created in God's image with inherent dignity and worth. These beliefs motivate Haven of Rest Ministries to design innovative programs and services responding to people's total needs, helping them become Godly persons of integrity, responsibility and commitment.


Mission statement

The purpose of Haven of Rest is to serve and glorify God through Christ-centered, life-changing programs of love and compassion that respond to the physical, emotional and spiritual needs of men, women and children without regard to their race, color, creed or social standing.


Statement of faith

Donor confidence score

Show donor confidence score details

Transparency grade

C

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Community Development

CategoryRatingOverall rankSector rank
Overall efficiency rating794 of 103161 of 77
Fund acquisition rating698 of 103353 of 77
Resource allocation rating668 of 103352 of 77
Asset utilization rating650 of 103150 of 77

Financial ratios

Funding ratiosSector median20212020201920182017
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
8%10%9%10%6%10%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
5%9%8%9%6%10%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
79%94%96%93%98%99%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
6%10%10%9%9%10%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
21%6%4%7%2%1%
 
Operating ratiosSector median20212020201920182017
Program expense ratio Program expense ratio =
Program services /
Total expenses
80%76%77%78%78%76%
Spending ratio Spending ratio =
Total expenses /
Total revenue
89%87%87%100%61%104%
Program output ratio Program output ratio =
Program services /
Total revenue
69%66%66%78%47%79%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
11%13%13%0%39%-4%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
13%8%10%0%48%-5%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
12%14%14%13%13%14%
 
Investing ratiosSector median20212020201920182017
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.800.520.610.720.701.13
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
2.131.862.312.772.712.61
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.690.971.411.991.912.94
 
Liquidity ratiosSector median20212020201920182017
Current ratio Current ratio =
Total current assets /
Total current liabilities
11.309.356.454.805.613.28
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.080.110.160.210.180.30
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
6.2511.047.214.785.172.84
 
Solvency ratiosSector median20212020201920182017
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
10%6%7%8%7%12%
Debt ratio Debt ratio =
Debt /
Total assets
2%0%0%0%0%0%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
102%181%153%129%133%78%

Financials

Balance sheet
 
Assets20212020201920182017
Cash$3,004,275$1,774,469$725,905$924,736$365,117
Receivables, inventories, prepaids$419,968$856,144$377,830$344,329$9,298
Short-term investments$6,101,140$3,932,354$3,762,694$3,611,011$2,351,471
Other current assets$97,280$72,173$74,380$131,107$126,936
Total current assets$9,622,663$6,635,140$4,940,809$5,011,183$2,852,822
Long-term investments$1,076,999$926,556$826,732$790,185$0
Fixed assets$4,003,209$4,188,608$4,005,844$3,507,494$3,658,883
Other long-term assets$3,218,814$3,591,244$3,934,721$4,255,741$921,311
Total long-term assets$8,299,022$8,706,408$8,767,297$8,553,420$4,580,194
Total assets$17,921,685$15,341,548$13,708,106$13,564,603$7,433,016
 
Liabilities20212020201920182017
Payables and accrued expenses$459,883$396,893$495,824$366,530$281,870
Other current liabilities$569,573$631,972$534,446$527,072$586,877
Total current liabilities$1,029,456$1,028,865$1,030,270$893,602$868,747
Debt$0$0$0$0$0
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$0$0$0$0$0
Total long-term liabilities$0$0$0$0$0
Total liabilities$1,029,456$1,028,865$1,030,270$893,602$868,747
 
Net assets20212020201920182017
Without donor restrictions$16,144,938$13,489,462$11,908,420$12,104,253$6,219,981
With donor restrictions$747,291$823,221$769,416$566,748$344,288
Net assets$16,892,229$14,312,683$12,677,836$12,671,001$6,564,269
 
Revenues and expenses
 
Revenue20212020201920182017
Total contributions$10,150,366$10,337,888$9,143,140$15,331,809$7,972,306
Program service revenue$0$0$0$0$0
Membership dues$0$0$0$0$0
Investment income$341,736$372,199$543,327$274,940$111,356
Other revenue$264,151$69,707$129,796$54,888($258)
Total other revenue$605,887$441,906$673,123$329,828$111,098
Total revenue$10,756,253$10,779,794$9,816,263$15,661,637$8,083,404
 
Expenses20212020201920182017
Program services$7,074,550$7,147,146$7,685,339$7,415,385$6,399,935
Management and general$1,290,626$1,275,173$1,244,688$1,268,270$1,189,171
Fundraising$973,393$904,871$879,401$871,250$808,332
Total expenses$9,338,569$9,327,190$9,809,428$9,554,905$8,397,438
 
Change in net assets20212020201920182017
Surplus (deficit)$1,417,684$1,452,604$6,835$6,106,732($314,034)
Other changes in net assets$1,161,862($240,735)$0$0$196,492
Total change in net assets$2,579,546$1,211,869$6,835$6,106,732($117,542)

Compensation

Compensation data for this ministry has not been collected.


Response from ministry

No response has been provided by this ministry.


The information below was provided to MinistryWatch by the ministry itself. It was last updated 6/27/2022. To update the information below, please email: info@ministrywatch.com


History

Historical Highlights

1943 >>> Haven of Rest was founded on faith by Rev. Charles C. and Marjorie Ruth Thomas in a small storefront on North Howard Street.

1952 >>> Ground was broken for a new building with a clinic for those suffering from alcohol abuse on East Buchtel Avenue.

1974 >>> Construction of a modern, more functional Rescue Mission was completed.

1976 >>> Rev. Charles C. Thomas, founder, passed away and was succeeded by his son, Rev. Curtis Thomas.

1979 >>> An increase in female homelessness created the need for a separate facility to meet the needs of women and children-our Marjorie Ruth Thomas Harvest Home was opened under the direction of Eileen Thomas. 1987 >>> Homelessness continued to increase, and additions and renovations to both the Rescue Mission and Harvest Home became necessary.

1989 >>> Additions to Harvest Home were made and completed-increasing our capacity by 50%

1993 >>>Haven of Rest observed its 50th anniversary.

1995 >>> Client Services Center opened to meet the growing need for comprehensive programs for men and women.

1996 >>> Marjorie Ruth Thomas passed away at the age of 88 after 33 years helping thousands of men, women and children in need.

2003 >>> After 90 combined years of service, Rev. Thomas and his wife, Eileen, retired. Rev. Ben W. Walker was asked to succeed Rev. Thomas as Executive Director.

2009 >>> Rev. Walker announces his retirement.

2011 >>> Rev. Jeffrey A. Kaiser assumed the role of Executive Director.

TODAY >>> After decades of changes, one thing remains constant at Haven of Rest: our unwavering commitment to serve and glorify God through Christ-centered outreach.


Program accomplishments

Since 1943, Haven of Rest Ministries has responded to the plight of the poor and homeless in our community. Thanks to friends like you, last year we provided:

1071 individuals served with clothing per month

134,411 meals provided

39,045 nights of shelter


Needs