Palmer Home for Children

The information on this page was last updated 1/31/2023. If you see errors or omissions, please email: [email protected]


For more than 125 years, Palmer Home has empowered children in critical situations to reach their true potential by providing restorative environments that support healthy development and nurture resilience.

Contact information

Mailing address:
Palmer Home for Children
800 Baldwin Rd S
Lake Cormorant, MS 38641


Phone: 855-672-5637


Organization details

EIN: 640334999

CEO/President: Drake Vassett

Chairman: Trip Hairston

Board size: 15

Founder: William States Jacobs

Ruling year: 1946

Tax deductible: Yes

Fiscal year end: 06/30

Member of ECFA: Yes

Member of ECFA since: 1995


Our proprietary approach to care provides a trauma informed, holistic, and relationally centered foundation and guides all that we do. We seek to help vulnerable children overcome trauma and position them to thrive in home, school and community life. Whole Child Initiative operates through four core principles:

WHOLE STORY: Children's needs are best understood and met in the context of their history and the impact it has on their life. Taking into account their full story allows us to insightfully respond to the effects of early life adversity.

WHOLE CHILD: Children with a history of trauma have unique physical, emotional, social, educational and spiritual needs. Each of these must be addressed for the healing process to begin.

WHOLE TEAM: A collaborative team of caregivers, staff, community professionals, and the child's family members come together to develop a trauma responsive plan of care.

WHOLE CAREGIVER: Healthy relationships with children require healthy caregivers. We equip our caregivers with regular training, relevant resources, respite and ongoing support.

Mission statement

Palmer Home provides superior care for children while introducing the love of God through our service to each individual child. Palmer Home ensures restorative environments where children feel safe, connected and supported. Whether on campus or off, each child served by Palmer Home has a safe place to call home with trustworthy, supportive adults to guide them as they grow and develop into all that God created them to be. Palmer Home provides holistic care to each child based on their unique physical, emotional, spiritual and educational needs.

Statement of faith

Donor confidence score

Show donor confidence score details

Transparency grade


To understand our transparency grade, click here.

Financial efficiency ratings

Sector: Community Development

CategoryRatingOverall rankSector rank
Overall efficiency rating1092 of 1097141 of 142
Fund acquisition rating1002 of 1099131 of 142
Resource allocation rating1032 of 1099130 of 142
Asset utilization rating1090 of 1097140 of 142

Financial ratios

Funding ratiosSector median20222021202020182017
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
Operating ratiosSector median20222021202020182017
Program expense ratio Program expense ratio =
Program services /
Total expenses
Spending ratio Spending ratio =
Total expenses /
Total revenue
Program output ratio Program output ratio =
Program services /
Total revenue
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
Investing ratiosSector median20222021202020182017
Total asset turnover Total asset turnover =
Total expenses /
Total assets
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
Liquidity ratiosSector median20222021202020182017
Current ratio Current ratio =
Total current assets /
Total current liabilities
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
Solvency ratiosSector median20222021202020182017
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
Debt ratio Debt ratio =
Debt /
Total assets
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses


Balance sheet
Receivables, inventories, prepaids$931,667$101,610$175,029$646,927$891,953
Short-term investments$0$0$0$0$0
Other current assets$0$0$0$0$0
Total current assets$2,513,060$7,196,732$6,011,502$3,326,714$2,271,720
Long-term investments$13,258,149$15,129,421$11,498,516$10,463,369$9,969,999
Fixed assets$14,045,200$8,073,547$7,174,954$7,774,132$7,853,093
Other long-term assets$1,949,320$1,982,554$1,927,316$1,866,749$1,850,704
Total long-term assets$29,252,669$25,185,522$20,600,786$20,104,250$19,673,796
Total assets$31,765,729$32,382,254$26,612,288$23,430,964$21,945,516
Payables and accrued expenses$133,682$465,189$183,686$314,619$345,834
Other current liabilities$0$0$0$0$0
Total current liabilities$133,682$465,189$183,686$314,619$345,834
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$241,165$258,210$238,136$423,013$503,618
Total long-term liabilities$241,165$797,510$955,736$430,813$613,081
Total liabilities$374,847$1,262,699$1,139,422$745,432$958,915
Net assets20222021202020182017
Without donor restrictions$20,563,141$16,868,034$14,238,456$12,288,951$11,493,173
With donor restrictions$10,827,741$14,251,521$11,234,410$10,396,581$9,493,428
Net assets$31,390,882$31,119,555$25,472,866$22,685,532$20,986,601
Revenues and expenses
Total contributions$7,672,985$7,032,802$6,480,322$5,926,708$5,330,192
Program service revenue$0$0$0$0$0
Membership dues$0$0$0$0$0
Investment income$69,207$74,879$885,132$70,590$61,277
Other revenue$204,361$591,367$579,116$1,643,957$1,736,954
Total other revenue$273,568$666,246$1,464,248$1,714,547$1,798,231
Total revenue$7,946,553$7,699,048$7,944,570$7,641,255$7,128,423
Program services$3,557,784$3,593,178$3,521,070$4,285,933$4,248,351
Management and general$996,216$856,872$1,263,469$635,008$838,709
Total expenses$5,714,720$5,713,622$5,899,955$5,942,324$6,324,500
Change in net assets20222021202020182017
Surplus (deficit)$2,231,833$1,985,426$2,044,615$1,698,931$803,923
Other changes in net assets$0$0$0$0$0
Total change in net assets$2,231,833$1,985,426$2,044,615$1,698,931$803,923


Drake BassettPresident and CEO$205,275
Sara HollisSVP Engagement$131,214
Anna WarrenVP Childrens Services$118,958
Jessica CorleyVP Development$113,435

Compensation data as of: 6/30/2022

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 1/31/2023. To update the information below, please email: [email protected]


Take a look at Palmer Home's history, beginning with a biblical call and hope to communicate the love of Christ to children in need.

1895 - A year after moving to Columbus, Mississippi, to lead the congregation of First Presbyterian Church, William States Jacobs calls on his church to establish a home to care for children in need. Palmer Orphanage is awarded a formal charter.

1899 - Palmer Orphanage officially opens with 20 boys and girls in its care, doubling its numbers and adding more dormitories within five years.

1919 - John Frierson takes his father's place as superintendent of Palmer Home, continuing William Frierson's legacy of investing in each child's spiritual development. The Frierson family embraced the children in their care, transforming the orphanage into a large, loving family.

1950s - After the orphanage and its people withstood some of the country's most difficult times in history, including World Wars I and II and the Great Depression, J.O. "Papa Joe" Davis was named superintendent and transitioned Palmer to cottage-style family housing.

1970s - Palmer Orphanage no longer described the home setting it offered. This was reflected in its name change-it would now be known as Palmer Home.

1981 - Palmer Home voted to become independent of direct church control yet retained its Christ-centered mission and involvement with churches throughout the country.

1990 - Palmer Home purchased land to expand the ministry to Hernando, Mississippi.

1995 - Palmer Home celebrated 100 years of service.

1997 - Palmer Home installed greenhouses on the Columbus campus to help children learn to grow plants and vegetables.

2000s - Palmer Home developed and solidified expansion plans for the Hernando campus, building three cottage-style homes, Hope Chapel, and Grace Home for the campus director.

2012 - Current President and CEO Drake Bassett took the helm of Palmer Home, focusing on expanding the scope of care.

2014 - Palmer Home established the Whole Child Initiative, a model of care designed to address the unique and varying physical, educational, spiritual and emotional needs of each child in Palmer Home's care. This approach helps caregivers guide children through their trauma and into better capacities to thrive at home, in school, and in their communities.

2014 - Palmer Home partnered with Jonah's Journey in Nashville, Tennessee to expand services to children of incarcerated mothers.

2017 - Three new cottage-style homes were constructed and dedicated on the Hernando campus.

2019 - The Palmer Home board of directors vote to close the historic Columbus campus and consolidate all residential Campus Care activities to the Panther Creek Ranch campus in Hernando.

2019 - Palmer Home embraced a new strategic direction by building on its residential history, now termed Campus Care, and introduced three new service lines: Foster Care, Family Care, and Transitional Care.

2019 - Palmer Home broke ground on the Dr. Hugh J. Francis, Jr. Wellness Center with a targeted completion date of 2021.

Program accomplishments


Interested in supporting Palmer Home's foster families? Get involved in respite care! You'll be offering rest for our caregivers by providing brief care for children in their homes and building positive relationships along the way.