House of Providence 
The information on this page was last updated 7/12/2024. 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: Nikki Byanski
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
Until every child has a home
Mission statement
We exist to instill hope in children who have only known the intense instability of foster care by emulating the unconditional love of a healthy family to them.
Statement of faith
We believe God inspired the Bible, and in it He reveals His nature and mission. Psalm 19:7-10; Isaiah 34:16; 2 Timothy 3:15-17; Hebrews 4:12
We believe the Bible is absolutely true in all it affirms, without error, authoritative and instructive for our lives, work and ministries. Deuteronomy 4:1-2; Deuteronomy 17:19; John 17:17; Romans 15:4
We believe God is the only true, sovereign God, eternally existing in three equal persons: Father, Son and Holy Spirit. John 16:13-15; Acts 2:16-47; Hebrews 1:1-1; 2 Peter 1:19-21
We believe Jesus Christ is the living Son of God. We believe He was God Incarnate while on earth. He was supernaturally conceived by the Holy Spirit. We believe He lived, worked and ministered without sin. We believe He was crucified, buried, rose and ascended into heaven, and that He will come again and will establish God's kingdom forever. Isaiah 7:14; Isaiah 53:1-12; Matthew 1:18-23; Matthew 28:1-6
We believe the Holy Spirit empowers followers of Jesus Christ today, leading people to faith in Christ and serving as our Counselor and Encourager. Romans 8:9-11; Romans 8:14-16; Romans 8:26-27; 1 Corinthians 2:10-14
We believe God created people to have a personal relationship with Him and to worship Him, but all fall short of this purpose. Genesis 1-3; John 11:25-27; Hebrews 9:14; Revelation 22:17; Colossians 1:21-22
We believe all choose to disobey God, and as such we are sinners deserving condemnation and eternal death. Colossians 3:9-11; Romans 5:12; Ephesians 2:1-22; Romans 1:19-22
We believe sin is the transgression of God's law (1 John 3:4), as revealed by the Holy Spirit through His eternal Word. Ephesians 2:1-22; Romans 5:12; Romans 5:19; Romans 7:14-25
We believe we can only be saved by receiving God's grace by faith in Jesus Christ and His substitutionary death for us on the cross. Colossians 1:21-22; Ephesians 2:1-10; 1 Corinthians 15:21-22; Romans 5:6
We believe every believer in Christ must not yield themselves to sinful passions and instead must strive to pursue righteousness (Romans 6:5-11; 2 Timothy 2:22), "so as to walk in a manner worthy of the Lord, fully pleasing to him, bearing fruit in every good work and increasing in the knowledge of God" (Colossians 1:10).
We believe Jesus Christ commissions His followers to make disciples of all peoples through the local church as well as through partnerships that reach the entire world. Acts 13:1-2; Matthew 24:14; Matthew 28:18-20; John 20:21
Donor confidence score
Transparency grade
A
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: Adoption/Foster Care
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 905 of 1118 | 26 of 34 |
| Fund acquisition rating | | 453 of 1119 | 10 of 34 |
| Resource allocation rating | | 858 of 1119 | 30 of 34 |
| Asset utilization rating | | 969 of 1118 | 29 of 34 |
Financial ratios
| Funding ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 10% | 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 | 72% | 16% | 18% | 30% | 8% | 27% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 5% | 1% | 0% | 0% | 2% | 2% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 28% | 84% | 82% | 70% | 92% | 73% |
| Operating ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Program expense ratio Program expense ratio = Program services / Total expenses | 83% | 72% | 78% | 82% | 83% | 87% |
Spending ratio Spending ratio = Total expenses / Total revenue | 100% | 83% | 86% | 66% | 90% | 99% |
Program output ratio Program output ratio = Program services / Total revenue | 79% | 60% | 67% | 54% | 75% | 86% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 0% | 17% | 14% | 34% | 10% | 1% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 3% | 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 | 0.77 | 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 | 1.37 | 2.56 | 2.69 | 4.53 | 5.56 | 71.84 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.46 | 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 | 13.97 | 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) | 7.14 | 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 | 8% | 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 | 97% | 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 7/12/2024. To update the information below, please email: [email protected]
History
https://www.thehofp.org/who-we-are/our-story