REST HAVEN ILLIANA CHRISTIAN CONVALESCENT HOME (EIN 362382853) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1956

Legal Domicile

Principal Officer

RICHARD SCHUTT

Phone

7083428100

Tax Period

2023-01-01 to 2023-12-31

REST HAVEN ILLIANA CHRISTIAN CONVALESCENT HOME, founded in 1956, is a mid-sized nonprofit in the Health Care sector that reported $41.2M in total revenue in fiscal year 2023. Revenue fell 39% from the prior year — a significant decline worth monitoring. Expenses of $46.9M exceeded revenue, resulting in a 14% operating deficit.

Mission

REST HAVEN'S PURPOSE IS TO PROVIDE SERVICES FOR THE AGED INCLUDING SKILLED NURSING AND REHAB SERVICES, HOME HEALTH CARE, TOWN HOME LIVING, INDEPENDENT AND ASSISTED LIVING.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,870,729

Program Service Revenue $40,622,131

Investment Income $-1,224,733

Other Revenue $-91,226

TOTAL REVENUE $41,176,901

Expense Breakdown

Grants Paid $0

Salaries & Benefits $23,024,328

Fundraising Expenses $492,627

Program Expenses $38,574,073

Other Expenses $23,868,279

TOTAL EXPENSES $46,892,607

Year-over-Year Comparison

	2023	2022	Change
Revenue	$41,176,901	$66,958,760	-0.4%
Expenses	$46,892,607	$56,648,120	-0.2%
Net Income	$-5,715,706	$10,310,640	-1.6%

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

Governance

Voting Members

Independent Members

Employees

628

Volunteers

120

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

$1,704,870

Total Directors

$714,672

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICH SCHUTT	DIRECTOR & CEO	40.00	Officer Director	$686,133	$28,539	$714,672
JAKE GROENEWOLD	CHAIR	1.00	Officer Director	$0	$0	$0
PAUL BUIKEMA	VICE CHAIR	1.00	Officer Director	$0	$0	$0
KAREN HUIZENGA	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
KEN HOVING	ASST. SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
EDWARD DAMSTRA III	DIRECTOR	1.00	Director	$0	$0	$0
TED FEENSTRA	DIRECTOR	1.00	Director	$0	$0	$0
SHERYL HAMMER	DIRECTOR	1.00	Director	$0	$0	$0
PATTI JABAAY	DIRECTOR	1.00	Director	$0	$0	$0
EMILY MCMASTER	DIRECTOR	1.00	Director	$0	$0	$0
GARY LEO	DIRECTOR	1.00	Director	$0	$0	$0
DARREN VAN ESSEN	DIRECTOR	1.00	Director	$0	$0	$0
DAVID VOSS	DIRECTOR	1.00	Director	$0	$0	$0
KYLE YONKER	DIRECTOR	1.00	Director	$0	$0	$0
ARNOLD KOLDENHOVEN	DIRECTOR	1.00	Director	$0	$0	$0
ERIC WOO	DIRECTOR	1.00	Director	$0	$0	$0
PAUL KATS	DIRECTOR - PART YEAR	1.00	Director	$0	$0	$0
ROGER BOERMA	DIRECTOR - PART YEAR	1.00	Director	$0	$0	$0
BILL ZANDSTRA	DIRECTOR - PART YEAR	1.00	Director	$0	$0	$0
WILLIAM DEYOUNG	COO	40.00	Officer	$473,238	$83,887	$557,125
BARRY VANDERGENUGTEN	CFO	40.00	Officer	$403,100	$29,973	$433,073
SUSAN ENRIGHT	VP HOME & COMMUNITY BASED	40.00	Highest	$219,595	$16,077	$235,672
JOHANNA ZANDSTRA	VP OF OPERATIONS	40.00	Highest	$191,645	$29,909	$221,554
MEGAN TENGERSTROM	VP OF OPERATIONS	40.00	Highest	$219,057	$18,396	$237,453
SCOTT STUDEBAKER	VP MINISTRY ADVANCEMENT & DEVELOPMENT	40.00	Highest	$189,131	$20,392	$209,523
LARRY OTTE	VP OF FINANCE	40.00	Highest	$196,210	$30,295	$226,505

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
2024	No data	No data	No data	No data
2023	$41,176,901	$46,892,607	$57,755,855	$-5,715,706
2022	$66,958,760	$56,648,120	$76,767,096	$10,310,640
2021	$64,022,788	$65,693,773	$77,792,257	$-1,670,985
2020	$64,902,074	$67,055,230	$89,097,338	$-2,153,156
2019	$80,130,062	$68,294,410	$92,895,917	$11,835,652
2018	$84,684,583	$82,557,948	$94,538,589	$2,126,635

REST HAVEN ILLIANA CHRISTIAN CONVALESCENT HOME