HAVEN OF REST MINISTRIES ENDOWMENT FOUNDATION

EIN: 341926063 501(c)(3) Philanthropy & Grantmaking

AKRON, OH

Total Revenue
$658,267
Total Expenses
$756,763
Total Assets
$15,111,504
Net Assets
$15,024,504
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2000
Legal Domicile
OH
Principal Officer
TERRY HOLLISTER
Phone
3305351563
Tax Period
2024-07-01 to 2025-06-30

HAVEN OF REST MINISTRIES ENDOWMENT FOUNDATION, founded in 2000, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $658K in total revenue in fiscal year 2024. Revenue fell 46% from the prior year — a significant decline worth monitoring. Expenses of $757K exceeded revenue, resulting in a 15% operating deficit.

Mission

THE FOUNDATION IS A SUPPORTING ORGANIZATION FOR HAVEN OF REST MINISTRIES, INC., A SECTION 501(C)(3) ORGANIZATION WHICH OPERATES IN CONJUNCTION WITH ITS MINISTRY, A SHELTER FOR THE HOMELESS IN AKRON, OHIO. THE FOUNDATION'S ACTIVITIES INCLUDE RECEIVING GIFTS, CONTRIBUTIONS AND REQUESTS; INVESTING AND REINVESTING ANY AND ALL FUNDS RECEIVED; AND UTILIZING THE PRINCIPAL AND INTEREST IN FURTHERANCE OF THE CHARITABLE PURPOSES OF HAVEN OF REST MINISTRIES, INC.

Program Service Accomplishments

Program 1
Expenses: $580,403

GRANTS TO HAVEN OF REST MINISTRIES, INC. TO SUPPORT GENERAL OPERATIONS FOR ITS MINISTRIES AND ITS SHELTER FOR THE HOMELESS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $182,350
Program Service Revenue $0
Investment Income $475,917
Other Revenue $0
TOTAL REVENUE $658,267

Expense Breakdown

Grants Paid $580,403
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $580,403
Other Expenses $176,360
TOTAL EXPENSES $756,763

Year-over-Year Comparison

2024 2023 Change
Revenue $658,267 $1,225,488 -0.5%
Expenses $756,763 $648,869 +0.2%
Net Income $-98,496 $576,619 -1.2%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
9
Independent Members
8
Employees
N/A
Volunteers
9

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$37,666
Total Directors
9
$37,666
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
REV BEN W WALKER VICE PRESIDENT 1.00
Officer Director
$0 $18,000 $37,666
TERRY R HOLLISTER PRESIDENT 1.00
Officer Director
$0 $0 $0
RICHARD MEROLLA SECRETARY/TREASURER 1.00
Officer Director
$0 $0 $0
MICHAEL R KURA DIRECTOR 1.00
Director
$0 $0 $0
TERRY SMITH DIRECTOR 1.00
Director
$0 $0 $0
T RANDALL FAIRFAX DIRECTOR 1.00
Director
$0 $0 $0
CHRISTOPHER S HUMPHREY DIRECTOR 1.00
Director
$0 $0 $0
DAN KEVER DIRECTOR 1.00
Director
$0 $0 $0
KAREN H COFFEY DIRECTOR 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $658,267 $756,763 $15,111,504 $-98,496
2024 $1,225,488 $648,869 $14,284,228 $576,619
2023 $1,603,525 $548,523 $12,538,410 $1,055,002
2022 $1,093,692 $455,667 $10,146,980 $638,025
2021 $371,179 $379,941 $9,696,011 $-8,762
2020 $1,040,351 $311,234 $8,592,150 $729,117
2019 $607,251 $883,601 $8,044,934 $-276,350
2018 $6,008,677 $446,258 $8,225,351 $5,562,419
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