Rest Haven Homes Inc
- Assets
- $12.6m
- Revenue
- $5.2m
- Investments
- $0.0
- Employees
- 138
- Location
- Grand Rapids, MI
- Founding
- 01/1945
- Data as of
- 06/2023
- 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 06/2023, Rest Haven Homes Inc employed 138 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 06/2023, Rest Haven Homes Inc generated $5.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $5.1m during the year ending 06/2023. While expenses have increased by 6.6% per year over the past 8 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
2023
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 |
|---|---|---|---|
Craig Bowman Chairman | Trustee | 0.5 | $0 |
Rick Larman Treasurer | OfficerTrustee | 0.5 | $0 |
Donald Grob Director | OfficerTrustee | 0.5 | $0 |
Terry Henning Director | OfficerTrustee | 0.5 | $0 |
Ronny Phillip Director | Trustee | 0.5 | $0 |
Ernie Tan Director | 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 | $898,680 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $898,680 |
| Total Program Service Revenue | $4,312,737 |
| Investment income | $51,608 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$45,772 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,217,253 |
| 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. | $130,601 |
| Compensation of current officers, directors, key employees. | $130,601 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,618,041 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $232,175 |
| Payroll taxes | $227,467 |
| 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 | $16,377 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $223,553 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $648,105 |
| Insurance | $53,220 |
| All other expenses | $248,676 |
| Total functional expenses | $5,139,509 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $880,104 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $39,776 |
| 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 | $52,700 |
| Net Land, buildings, and equipment | $11,657,287 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,875 |
| Total assets | $12,631,742 |
| Accounts payable and accrued expenses | $459,190 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $3,831,286 |
| Total liabilities | $4,290,476 |
| Net assets without donor restrictions | $8,341,266 |
| 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 | $12,631,742 |