Haven of Rest Ministries - Akron, OH
The information on this page was last updated 5/24/2024. If you see errors or omissions, please email: [email protected]
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 St
Akron, OH 44308
Website: www.havenofrest.org
Phone: (330) 535-1563
Email: [email protected]
Organization details
EIN: 340750345
CEO/President: Rev. Jeffrey Kaiser
Chairman: Michael R. Kura
Board size: 14
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
This organization does not file a Form 990.
Show donor confidence score detailsTransparency grade
C
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: Rescue Missions/Homeless Shelters
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | 565 of 1123 | 69 of 138 | |
| Fund acquisition rating |  | 452 of 1124 | 56 of 138 |
| Resource allocation rating | | 724 of 1124 | 89 of 138 |
| Asset utilization rating | | 514 of 1123 | 65 of 138 |
Financial ratios
| Funding ratios | Sector median | 2021 | 2020 | 2019 | 2018 | 2017 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 12% | 10% | 9% | 10% | 6% | 10% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 10% | 9% | 8% | 9% | 6% | 10% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 92% | 94% | 96% | 93% | 98% | 99% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 11% | 10% | 10% | 9% | 9% | 10% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 8% | 6% | 4% | 7% | 2% | 1% |
| Operating ratios | Sector median | 2021 | 2020 | 2019 | 2018 | 2017 |
Program expense ratio Program expense ratio = Program services / Total expenses | 80% | 76% | 77% | 78% | 78% | 76% |
Spending ratio Spending ratio = Total expenses / Total revenue | 95% | 87% | 87% | 100% | 61% | 104% |
Program output ratio Program output ratio = Program services / Total revenue | 75% | 66% | 66% | 78% | 47% | 79% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 5% | 13% | 13% | 0% | 39% | -4% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 5% | 8% | 10% | 0% | 48% | -5% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 9% | 14% | 14% | 13% | 13% | 14% |
| Investing ratios | Sector median | 2021 | 2020 | 2019 | 2018 | 2017 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.53 | 0.52 | 0.61 | 0.72 | 0.70 | 1.13 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 2.95 | 1.86 | 2.31 | 2.77 | 2.71 | 2.61 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.75 | 0.97 | 1.41 | 1.99 | 1.91 | 2.94 |
| Liquidity ratios | Sector median | 2021 | 2020 | 2019 | 2018 | 2017 |
Current ratio Current ratio = Total current assets / Total current liabilities | 13.50 | 9.35 | 6.45 | 4.80 | 5.61 | 3.28 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.07 | 0.11 | 0.16 | 0.21 | 0.18 | 0.30 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 6.33 | 11.04 | 7.21 | 4.78 | 5.17 | 2.84 |
| Solvency ratios | Sector median | 2021 | 2020 | 2019 | 2018 | 2017 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 9% | 6% | 7% | 8% | 7% | 12% |
Debt ratio Debt ratio = Debt / Total assets | 0% | 0% | 0% | 0% | 0% | 0% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 154% | 181% | 153% | 129% | 133% | 78% |
Financials
| Balance sheet | |||||
| Assets | 2021 | 2020 | 2019 | 2018 | 2017 |
| 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 |
| Liabilities | 2021 | 2020 | 2019 | 2018 | 2017 |
| 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 assets | 2021 | 2020 | 2019 | 2018 | 2017 |
| 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 | |||||
| Revenue | 2021 | 2020 | 2019 | 2018 | 2017 |
| 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 |
| Expenses | 2021 | 2020 | 2019 | 2018 | 2017 |
| 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 assets | 2021 | 2020 | 2019 | 2018 | 2017 |
| 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 5/24/2024. To update the information below, please email: [email protected]
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.
Over the past year, Haven of Rest has strived to provide compassionate care by helping to meet the immediate needs of men, women, and children facing homelessness and poverty. This has been provided through more than 120,000 warm meals, more than 45,000 nights of lodging, and more than 4,000 people served with quality clothing.
Our focus is also on providing hope for the future through programs designed to build financial literacy and practice, and to connect guests to recovery and mental health services. When guests are connected to these programs, we find that the rate of their return for additional help reduces by more than 10%.