Rest Haven Homes

The information on this page was last updated 5/10/2023. If you see errors or omissions, please email: [email protected]


Summary

Rest Haven Homes, founded in 1941, is a senior-care community to over 100 residents. Our residents reside in independent apartments or our licensed Home for Aged on six-acres nestled in a residential neighborhood in northeast Grand Rapids.

Our licensed assisted living provides low to high care for residents with physical and cognitive needs, including secure memory care for residents with Alzheimer's disease and other dementias. We are dedicated to higher staffing levels, providing staff with dementia training and hiring staff who desire to help fulfill our mission: "by love serve one another" Gal. 5:13. Our structured activities are reflective of individual needs, in a secure and comfortable environment.

Rest Haven Homes is a fully private-pay facility. If you are seeking an environment that accepts Medicare and Medicaid subsidies, we can provide you with community resources to meet your family needs.


Contact information

Mailing address:
Rest Haven Homes
1424 Union Avenue NE
Grand Rapids, MI 49505-5197

Website: resthavenhomes.com

Phone: (616) 363-6819

Email: [email protected]


Organization details

EIN: 381598954

CEO/President: Greg Tracy

Chairman: Craig Bowman

Board size: 8

Founder:

Ruling year: 1945

Tax deductible: Yes

Fiscal year end: 06/30

Member of ECFA: Yes

Member of ECFA since: 2021


Purpose

Founded in 1941, Rest Haven Homes exists today to provide a loving home environment to Christian seniors.

We strive to honor our elders while providing a nurturing and caring atmosphere where people can continue to grow and develop, learn new skills, make new friends and deepen their walk with God.


Mission statement

To daily practice the words of Galatians 5:13

...by love serve one another...

We strive to provide care consistent with the sacrificial love demonstrated by Christ when He gave Himself without reserve for we who were unloved, undeserving, and ungrateful.

Our Lord esteemed others more highly than Himself. We seek to serve others with that mindset. Our customers are our residents, their families and our fellow laborers.

Our mission is symbolized in the overlapping of two hearts in a perfect balance. The words "...by love serve one another..." are not fulfilled simply by residents coming to Rest Haven Homes to be served and blessed, but we find that as we serve, we are blessed in return. Our hearts are warmed and strengthened by the dear ones God sends to join our family at Rest Haven Homes.


Statement of faith

Donor confidence score

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Transparency grade

A

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Community Development

CategoryRatingOverall rankSector rank
Overall efficiency rating476 of 110455 of 122
Fund acquisition rating387 of 110538 of 122
Resource allocation rating40 of 110514 of 122
Asset utilization rating1093 of 1104118 of 122

Financial ratios

Funding ratiosSector median20232022202120202019
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
8%0%0%1%0%0%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
5%0%0%0%0%0%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
92%17%41%23%18%14%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
6%0%0%0%0%0%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
8%83%59%77%82%86%
 
Operating ratiosSector median20232022202120202019
Program expense ratio Program expense ratio =
Program services /
Total expenses
82%93%89%89%88%90%
Spending ratio Spending ratio =
Total expenses /
Total revenue
97%99%68%90%86%89%
Program output ratio Program output ratio =
Program services /
Total revenue
75%91%61%80%75%80%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
3%1%32%10%14%11%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
5%1%22%6%10%8%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
11%7%10%11%12%10%
 
Investing ratiosSector median20232022202120202019
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.840.410.270.390.530.63
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
1.7412.994.058.002.032.39
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.725.281.113.101.081.51
 
Liquidity ratiosSector median20232022202120202019
Current ratio Current ratio =
Total current assets /
Total current liabilities
14.072.123.461.0412.339.48
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.070.470.290.960.080.11
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
6.271.207.660.1410.257.13
 
Solvency ratiosSector median20232022202120202019
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
10%34%43%32%12%5%
Debt ratio Debt ratio =
Debt /
Total assets
0%0%0%0%0%0%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
101%162%207%176%166%150%

Financials

Balance sheet
 
Assets20232022202120202019
Cash$880,104$3,521,328$1,110,071$3,302,680$1,152,960
Receivables, inventories, prepaids$92,476$56,338$68,857$70,498$54,561
Short-term investments$0$0$0$0$1,193,929
Other current assets$0$0$0$0$0
Total current assets$972,580$3,577,666$1,178,928$3,373,178$2,401,450
Long-term investments$0$0$0$0$0
Fixed assets$11,657,287$10,915,365$8,248,341$3,472,445$3,325,810
Other long-term assets$1,875$1,875$1,875$1,875$1,875
Total long-term assets$11,659,162$10,917,240$8,250,216$3,474,320$3,327,685
Total assets$12,631,742$14,494,906$9,429,144$6,847,498$5,729,135
 
Liabilities20232022202120202019
Payables and accrued expenses$459,190$1,024,181$1,114,993$253,614$233,406
Other current liabilities$0$9,982$20,004$20,004$20,004
Total current liabilities$459,190$1,034,163$1,134,997$273,618$253,410
Debt$0$0$0$0$0
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$3,831,286$5,197,221$1,868,268$561,561$49,990
Total long-term liabilities$3,831,286$5,197,221$1,868,268$561,561$49,990
Total liabilities$4,290,476$6,231,384$3,003,265$835,179$303,400
 
Net assets20232022202120202019
Without donor restrictions$8,341,266$8,263,522$6,417,878$6,012,319$5,425,735
With donor restrictions$0$0$8,001$0$0
Net assets$8,341,266$8,263,522$6,425,879$6,012,319$5,425,735
 
Revenues and expenses
 
Revenue20232022202120202019
Total contributions$898,680$2,394,283$937,896$741,079$551,095
Program service revenue$4,312,737$3,449,654$3,132,590$3,460,690$3,483,173
Membership dues$0$0$0$0$0
Investment income$5,836($22,943)($2,414)$14,442$24,032
Other revenue$0$0$0$0$0
Total other revenue$4,318,573$3,426,711$3,130,176$3,475,132$3,507,205
Total revenue$5,217,253$5,820,994$4,068,072$4,216,211$4,058,300
 
Expenses20232022202120202019
Program services$4,758,764$3,562,968$3,237,328$3,179,834$3,243,212
Management and general$380,745$412,382$412,185$449,792$373,084
Fundraising$0$8,001$4,999$0$0
Total expenses$5,139,509$3,983,351$3,654,512$3,629,626$3,616,296
 
Change in net assets20232022202120202019
Surplus (deficit)$77,744$1,837,643$413,560$586,585$442,004
Other changes in net assets$0$0$0$0$0
Total change in net assets$77,744$1,837,643$413,560$586,585$442,004

Compensation

NameTitleCompensation
Terry CarrickAdministrator of Finance$82,300
Greg TracyAdministrator$48,301

Compensation data as of: 6/30/2023


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 5/10/2023. To update the information below, please email: [email protected]


History

Rest Haven Homes is not about the brick and mortar, but the loving care that dwells within its walls. Founded in 1941, in a single, family home in Alpine Township, Rest Haven Homes was started as a conservative, Bible-based home to meet the needs of those who were unable to care for themselves. Because of growth and the increasing interest by residents and families to be a part of our service ministry, we moved to two larger locations in Spring Lake and northwest Grand Rapids.

Through the years, we outgrew the beautiful property in Spring Lake and the stately home in Grand Rapids. It was in 1963 that we opened the doors of a newly constructed, one level home. Over the years we have added additions to the main building and constructed thirty-seven independent living apartments on our six-acre property. With our keen awareness of the growing needs of future generations we are continually striving to improve our environments through expansions, modern design and offerings and yet keeping the home-like feeling.


Program accomplishments


Needs