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 rating508 of 111050 of 111
Fund acquisition rating394 of 111133 of 111
Resource allocation rating97 of 111116 of 111
Asset utilization rating1081 of 1110104 of 111

Financial ratios

Funding ratiosSector median20242023202220212020
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
10%0%0%0%1%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
91%14%17%41%23%18%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
7%0%0%0%0%0%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
9%86%83%59%77%82%
 
Operating ratiosSector median20242023202220212020
Program expense ratio Program expense ratio =
Program services /
Total expenses
83%92%93%89%89%88%
Spending ratio Spending ratio =
Total expenses /
Total revenue
100%98%99%68%90%86%
Program output ratio Program output ratio =
Program services /
Total revenue
82%90%91%61%80%75%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
0%2%1%32%10%14%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
0%2%1%22%6%10%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
11%8%7%10%11%12%
 
Investing ratiosSector median20242023202220212020
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.940.460.410.270.390.53
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
1.769.6712.994.058.002.03
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.964.465.281.113.101.08
 
Liquidity ratiosSector median20242023202220212020
Current ratio Current ratio =
Total current assets /
Total current liabilities
15.152.812.123.461.0412.33
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.070.360.470.290.960.08
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
5.791.741.207.660.1410.25
 
Solvency ratiosSector median20242023202220212020
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
11%31%34%43%32%12%
Debt ratio Debt ratio =
Debt /
Total assets
0%0%0%0%0%0%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
84%149%162%207%176%166%

Financials

Balance sheet
 
Assets20242023202220212020
Cash$1,133,901$880,104$3,521,328$1,110,071$3,302,680
Receivables, inventories, prepaids$139,281$92,476$56,338$68,857$70,498
Short-term investments$0$0$0$0$0
Other current assets$0$0$0$0$0
Total current assets$1,273,182$972,580$3,577,666$1,178,928$3,373,178
Long-term investments$0$0$0$0$0
Fixed assets$11,042,599$11,657,287$10,915,365$8,248,341$3,472,445
Other long-term assets$1,875$1,875$1,875$1,875$1,875
Total long-term assets$11,044,474$11,659,162$10,917,240$8,250,216$3,474,320
Total assets$12,317,656$12,631,742$14,494,906$9,429,144$6,847,498
 
Liabilities20242023202220212020
Payables and accrued expenses$452,377$459,190$1,024,181$1,114,993$253,614
Other current liabilities$0$0$9,982$20,004$20,004
Total current liabilities$452,377$459,190$1,034,163$1,134,997$273,618
Debt$0$0$0$0$0
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$3,388,088$3,831,286$5,197,221$1,868,268$561,561
Total long-term liabilities$3,388,088$3,831,286$5,197,221$1,868,268$561,561
Total liabilities$3,840,465$4,290,476$6,231,384$3,003,265$835,179
 
Net assets20242023202220212020
Without donor restrictions$8,477,191$8,341,266$8,263,522$6,417,878$6,012,319
With donor restrictions$0$0$0$8,001$0
Net assets$8,477,191$8,341,266$8,263,522$6,425,879$6,012,319
 
Revenues and expenses
 
Revenue20242023202220212020
Total contributions$794,916$898,680$2,394,283$937,896$741,079
Program service revenue$4,972,977$4,312,737$3,449,654$3,132,590$3,460,690
Membership dues$0$0$0$0$0
Investment income$40,951$5,836($22,943)($2,414)$14,442
Other revenue$0$0$0$0$0
Total other revenue$5,013,928$4,318,573$3,426,711$3,130,176$3,475,132
Total revenue$5,808,844$5,217,253$5,820,994$4,068,072$4,216,211
 
Expenses20242023202220212020
Program services$5,215,820$4,758,764$3,562,968$3,237,328$3,179,834
Management and general$457,099$380,745$412,382$412,185$449,792
Fundraising$0$0$8,001$4,999$0
Total expenses$5,672,919$5,139,509$3,983,351$3,654,512$3,629,626
 
Change in net assets20242023202220212020
Surplus (deficit)$135,925$77,744$1,837,643$413,560$586,585
Other changes in net assets$0$0$0$0$0
Total change in net assets$135,925$77,744$1,837,643$413,560$586,585

Compensation

NameTitleCompensation
Terry CarrickAdministrator of Finance$83,346
Greg TracyAdministrator$43,222
Mary BennettAccounting Director$13,240

Compensation data as of: 6/30/2024


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