Rest Haven Homes Inc
- Assets
- $14.5m
- Revenue
- $5.8m
- Investments
- $0.0
- Employees
- 128
- Location
- Grand Rapids, MI
- Founding
- 01/1945
- Data as of
- 06/2022
- EIN
- 38-1598954
Organization Overview
Rest Haven Homes Inc is located in Grand Rapids, MI. The organization was established in 1945. According to its NTEE Classification (E91) the organization is classified as: Nursing Facilities, under the broad grouping of Health Care and related organizations. As of 06/2022, Rest Haven Homes Inc employed 128 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rest Haven Homes Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Rest Haven Homes Inc generated $5.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $4.0m during the year ending 06/2022. While expenses have increased by 3.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF A HOME FOR THE ELDERLY WITH THE OBJECT OF PROVIDING HOMES AND NECESSARY CARE FOR PERSONS UNABLE TO SUPPORT OR CARE FOR THEMSELVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO OPERATE A HOME FOR THE ELDERLY, INCLUDING THOSE WHO ARE INDIGENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terry Carrick Administrator Of Finance | Officer | 50 | $81,804 |
Greg Tracy Administrator | Officer | 60 | $58,289 |
Rick Larman Treasurer | OfficerTrustee | 0.5 | $0 |
Donald Grob Director | OfficerTrustee | 0.5 | $0 |
Terry Henning Director | OfficerTrustee | 0.5 | $0 |
Craig Bowman Chairman | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,394,283 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,394,283 |
| Total Program Service Revenue | $3,449,654 |
| Investment income | $5,494 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$28,437 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,820,994 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $140,093 |
| Compensation of current officers, directors, key employees. | $17,329 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,053,842 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $220,543 |
| Payroll taxes | $184,988 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,244 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $37,517 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $470,885 |
| Insurance | $59,176 |
| All other expenses | $230,606 |
| Total functional expenses | $3,983,351 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,521,328 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,084 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $40,254 |
| Net Land, buildings, and equipment | $10,915,365 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,875 |
| Total assets | $14,494,906 |
| Accounts payable and accrued expenses | $1,024,181 |
| Grants payable | $0 |
| Deferred revenue | $9,982 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,197,221 |
| Total liabilities | $6,231,384 |
| Net assets without donor restrictions | $8,263,522 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $14,494,906 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Rest Haven Homes Inc has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
Perrin Foundation Inc Montclair, NJ PURPOSE: GENERAL CHARITABLE | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Botsford Continuing Care Corporation Southfield, MI | $28,554,348 | $16,692,642 |
American Health Foundation Inc Dublin, OH | $18,460,178 | $15,917,114 |
Michigan Christian Home Grand Rapids, MI | $105,314,138 | $18,661,362 |
Oakwood Village University Woods Homes Inc Madison, WI | $65,944,381 | $14,695,232 |
West Side Deutscher Frauen Verein Strongsville, OH | $52,788,164 | $24,260,766 |
Presbyterian Village East Chesterfield Twp, MI | $23,144,610 | $18,364,022 |
Methodist Manor Health Center Inc West Allis, WI | $6,950,058 | $15,339,815 |
Brethren Care Inc Ashland, OH | $33,039,248 | $18,821,544 |
Visiting Nurse And Hospice Home Inc Fort Wayne, IN | $27,656,641 | $21,519,999 |
Mcv Health Care Facilities Inc Cincinnati, OH | $23,364,153 | $19,035,852 |
Assumption Village North Lima, OH | $8,870,048 | $14,570,063 |
St Clair Darden Health System Inc South Bend, IN | $21,453,139 | $17,018,170 |