House of Providence 
The information on this page was last updated 3/13/2023. If you see errors or omissions, please email: [email protected]
Summary
House of Providence exists to equip our communities to serve our most vulnerable children and families with excellence - Until Every Child Has A Home.
Contact information
Mailing address:
House of Providence
PO Box 18
Oxford, MI 48371
Website: thehofp.org
Phone: 313-579-1825
Email: [email protected]
Organization details
EIN: 464320030
CEO/President: Margaret Dunn
Chairman: Dave Duda
Board size: 8
Founder: Jason & Maggie Dunn
Ruling year: 2014
Tax deductible: Yes
Fiscal year end: 09/30
Member of ECFA: Yes
Member of ECFA since: 2019
Purpose
Mission statement
Statement of faith
Donor confidence score
Transparency grade
A
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: Community Development
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 875 of 1106 | 86 of 122 |
| Fund acquisition rating | | 482 of 1107 | 45 of 122 |
| Resource allocation rating | | 876 of 1107 | 101 of 122 |
| Asset utilization rating | | 872 of 1106 | 91 of 122 |
Financial ratios
| Funding ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 8% | 5% | 1% | 1% | 26% | 8% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 5% | 1% | 0% | 0% | 2% | 2% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 92% | 16% | 18% | 30% | 8% | 27% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 6% | 1% | 0% | 0% | 2% | 2% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 8% | 84% | 82% | 70% | 92% | 73% |
| Operating ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Program expense ratio Program expense ratio = Program services / Total expenses | 82% | 72% | 78% | 82% | 83% | 87% |
Spending ratio Spending ratio = Total expenses / Total revenue | 97% | 83% | 86% | 66% | 90% | 99% |
Program output ratio Program output ratio = Program services / Total revenue | 75% | 60% | 67% | 54% | 75% | 86% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 3% | 17% | 14% | 34% | 10% | 1% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 4% | 13% | 14% | 60% | 24% | 1% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 11% | 27% | 22% | 17% | 14% | 11% |
| Investing ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.84 | 0.62 | 0.72 | 0.75 | 0.80 | 0.93 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 1.76 | 2.56 | 2.69 | 4.53 | 5.56 | 71.84 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.77 | 1.58 | 1.93 | 3.41 | 4.46 | 66.50 |
| Liquidity ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Current ratio Current ratio = Total current assets / Total current liabilities | 13.67 | 17.51 | 22.27 | 1.99 | 2.47 | 0.97 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.07 | 0.06 | 0.04 | 0.50 | 0.40 | 1.03 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 6.08 | 7.16 | 5.93 | 1.75 | 1.60 | -0.01 |
| Solvency ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 10% | 2% | 14% | 35% | 62% | 65% |
Debt ratio Debt ratio = Debt / Total assets | 0% | 0% | 12% | 24% | 55% | 64% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 101% | 158% | 121% | 86% | 47% | 37% |
Financials
| Balance sheet | |||||
| Assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Cash | $1,428,596 | $1,386,130 | $431,907 | $413,262 | $31,478 |
| Receivables, inventories, prepaids | $212,547 | $153,924 | $448,409 | $142,833 | $0 |
| Short-term investments | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $1,641,143 | $1,540,054 | $880,316 | $556,095 | $31,478 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Fixed assets | $2,553,345 | $2,604,095 | $3,078,343 | $2,534,799 | $2,229,765 |
| Other long-term assets | $0 | $0 | $26,000 | $0 | $0 |
| Total long-term assets | $2,553,345 | $2,604,095 | $3,104,343 | $2,534,799 | $2,229,765 |
| Total assets | $4,194,488 | $4,144,149 | $3,984,659 | $3,090,894 | $2,261,243 |
| Liabilities | 2023 | 2022 | 2021 | 2020 | 2019 |
| Payables and accrued expenses | $93,729 | $69,152 | $441,781 | $224,716 | $32,558 |
| Other current liabilities | $0 | $0 | $0 | $0 | $0 |
| Total current liabilities | $93,729 | $69,152 | $441,781 | $224,716 | $32,558 |
| Debt | $0 | $490,468 | $959,747 | $1,695,467 | $1,445,204 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $0 | $0 | $0 | $0 | $0 |
| Total long-term liabilities | $0 | $490,468 | $959,747 | $1,695,467 | $1,445,204 |
| Total liabilities | $93,729 | $559,620 | $1,401,528 | $1,920,183 | $1,477,762 |
| Net assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Without donor restrictions | $4,100,759 | $3,584,529 | $2,583,131 | $1,170,711 | $783,481 |
| With donor restrictions | $0 | $0 | $0 | $0 | $0 |
| Net assets | $4,100,759 | $3,584,529 | $2,583,131 | $1,170,711 | $783,481 |
| Revenues and expenses | |||||
| Revenue | 2023 | 2022 | 2021 | 2020 | 2019 |
| Total contributions | $500,020 | $634,767 | $1,375,108 | $226,625 | $562,347 |
| Program service revenue | $2,564,015 | $2,735,434 | $2,571,532 | $2,467,788 | $1,415,664 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $9,523 | $0 | $318,537 | $29 | $0 |
| Other revenue | $34,497 | $101,117 | $298,342 | $59,290 | $126,018 |
| Total other revenue | $2,608,035 | $2,836,551 | $3,188,411 | $2,527,107 | $1,541,682 |
| Total revenue | $3,108,055 | $3,471,318 | $4,563,519 | $2,753,732 | $2,104,029 |
| Expenses | 2023 | 2022 | 2021 | 2020 | 2019 |
| Program services | $1,875,237 | $2,311,687 | $2,473,259 | $2,063,826 | $1,815,740 |
| Management and general | $693,669 | $653,228 | $519,138 | $355,673 | $233,463 |
| Fundraising | $22,919 | $9,128 | $8,702 | $59,014 | $44,015 |
| Total expenses | $2,591,825 | $2,974,043 | $3,001,099 | $2,478,513 | $2,093,218 |
| Change in net assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Surplus (deficit) | $516,230 | $497,275 | $1,562,420 | $275,219 | $10,811 |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $516,230 | $497,275 | $1,562,420 | $275,219 | $10,811 |
Compensation
| Name | Title | Compensation |
| Jason Dunn | Operations O | $91,008 |
| Margaret Dunn | Executive Di | $90,411 |
Compensation data as of: 9/30/2023
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 3/13/2023. To update the information below, please email: [email protected]