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 | | 688 of 1092 | 79 of 142 |
| Fund acquisition rating | | 403 of 1095 | 46 of 142 |
| Resource allocation rating | | 715 of 1095 | 91 of 142 |
| Asset utilization rating | | 760 of 1092 | 98 of 142 |
Financial ratios
| Funding ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 7% | 1% | 1% | 26% | 8% | 0% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 5% | 0% | 0% | 2% | 2% | 0% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 92% | 18% | 30% | 8% | 27% | 21% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 6% | 0% | 0% | 2% | 2% | 0% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 8% | 82% | 70% | 92% | 73% | 79% |
| Operating ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Program expense ratio Program expense ratio = Program services / Total expenses | 82% | 78% | 82% | 83% | 87% | 88% |
Spending ratio Spending ratio = Total expenses / Total revenue | 90% | 86% | 66% | 90% | 99% | 74% |
Program output ratio Program output ratio = Program services / Total revenue | 72% | 67% | 54% | 75% | 86% | 65% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 10% | 14% | 34% | 10% | 1% | 26% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 13% | 14% | 60% | 24% | 1% | 62% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 11% | 22% | 17% | 14% | 11% | 12% |
| Investing ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.86 | 0.72 | 0.75 | 0.80 | 0.93 | 0.61 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 1.63 | 2.69 | 4.53 | 5.56 | 71.84 | 5.05 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.55 | 1.93 | 3.41 | 4.46 | 66.50 | 3.06 |
| Liquidity ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Current ratio Current ratio = Total current assets / Total current liabilities | 16.96 | 22.27 | 1.99 | 2.47 | 0.97 | 38.85 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.06 | 0.04 | 0.50 | 0.40 | 1.03 | 0.03 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 6.94 | 5.93 | 1.75 | 1.60 | -0.01 | 3.82 |
| Solvency ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 9% | 14% | 35% | 62% | 65% | 66% |
Debt ratio Debt ratio = Debt / Total assets | 0% | 12% | 24% | 55% | 64% | 65% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 104% | 121% | 86% | 47% | 37% | 56% |
Financials
| Balance sheet | |||||
| Assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| Cash | $1,386,130 | $431,907 | $413,262 | $31,478 | $449,254 |
| Receivables, inventories, prepaids | $153,924 | $448,409 | $142,833 | $0 | $0 |
| Short-term investments | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $1,540,054 | $880,316 | $556,095 | $31,478 | $449,254 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Fixed assets | $2,604,095 | $3,078,343 | $2,534,799 | $2,229,765 | $1,820,512 |
| Other long-term assets | $0 | $26,000 | $0 | $0 | $0 |
| Total long-term assets | $2,604,095 | $3,104,343 | $2,534,799 | $2,229,765 | $1,820,512 |
| Total assets | $4,144,149 | $3,984,659 | $3,090,894 | $2,261,243 | $2,269,766 |
| Liabilities | 2022 | 2021 | 2020 | 2019 | 2018 |
| Payables and accrued expenses | $69,152 | $441,781 | $224,716 | $32,558 | $11,563 |
| Other current liabilities | $0 | $0 | $0 | $0 | $0 |
| Total current liabilities | $69,152 | $441,781 | $224,716 | $32,558 | $11,563 |
| Debt | $490,468 | $959,747 | $1,695,467 | $1,445,204 | $1,485,533 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $0 | $0 | $0 | $0 | $0 |
| Total long-term liabilities | $490,468 | $959,747 | $1,695,467 | $1,445,204 | $1,485,533 |
| Total liabilities | $559,620 | $1,401,528 | $1,920,183 | $1,477,762 | $1,497,096 |
| Net assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| Without donor restrictions | $3,584,529 | $2,583,131 | $1,170,711 | $783,481 | $772,670 |
| With donor restrictions | $0 | $0 | $0 | $0 | $0 |
| Net assets | $3,584,529 | $2,583,131 | $1,170,711 | $783,481 | $772,670 |
| Revenues and expenses | |||||
| Revenue | 2022 | 2021 | 2020 | 2019 | 2018 |
| Total contributions | $634,767 | $1,375,108 | $226,625 | $562,347 | $396,549 |
| Program service revenue | $2,735,434 | $2,571,532 | $2,467,788 | $1,415,664 | $1,278,173 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $0 | $318,537 | $29 | $0 | $3,014 |
| Other revenue | $101,117 | $298,342 | $59,290 | $126,018 | $175,139 |
| Total other revenue | $2,836,551 | $3,188,411 | $2,527,107 | $1,541,682 | $1,456,326 |
| Total revenue | $3,471,318 | $4,563,519 | $2,753,732 | $2,104,029 | $1,852,875 |
| Expenses | 2022 | 2021 | 2020 | 2019 | 2018 |
| Program services | $2,311,687 | $2,473,259 | $2,063,826 | $1,815,740 | $1,208,020 |
| Management and general | $653,228 | $519,138 | $355,673 | $233,463 | $168,501 |
| Fundraising | $9,128 | $8,702 | $59,014 | $44,015 | $0 |
| Total expenses | $2,974,043 | $3,001,099 | $2,478,513 | $2,093,218 | $1,376,521 |
| Change in net assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| Surplus (deficit) | $497,275 | $1,562,420 | $275,219 | $10,811 | $476,354 |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $497,275 | $1,562,420 | $275,219 | $10,811 | $476,354 |
Compensation
| Name | Title | Compensation |
| Jason Dunn | Operations O | $89,999 |
| Margaret Dunn | Executive Di | $89,257 |
Compensation data as of: 9/30/2022
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]