REST HAVEN HOMES INC C/O MARY BENNETT

EIN: 381598954 501(c)(3) Health Care

GRAND RAPIDS, MI

Total Revenue
$5,808,844
Total Expenses
$5,672,919
Total Assets
$12,317,656
Net Assets
$8,477,191
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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
1943
Legal Domicile
MI
Principal Officer
RICK LARMAN
Phone
6163636819
Tax Period
2023-07-01 to 2024-06-30

REST HAVEN HOMES INC C/O MARY BENNETT, founded in 1943, is a community nonprofit in the Health Care sector that reported $5.8M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion.

Mission

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.

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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 (2023)

Revenue Breakdown

Contributions & Grants $794,916
Program Service Revenue $4,972,977
Investment Income $40,951
Other Revenue $0
TOTAL REVENUE $5,808,844

Expense Breakdown

Grants Paid $0
Salaries & Benefits $3,513,764
Fundraising Expenses $0
Program Expenses $5,215,820
Other Expenses $2,159,155
TOTAL EXPENSES $5,672,919

Year-over-Year Comparison

2023 2022 Change
Revenue $5,808,844 $5,217,253 +0.1%
Expenses $5,672,919 $5,139,509 +0.1%
Net Income $135,925 $77,744 +0.7%
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
10
Independent Members
10
Employees
140
Volunteers
52

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
6
$139,808
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CRAIG BOWMAN CHAIRMAN 0.50
Director
$0 $0 $0
RICK LARMAN TREASURER 0.50
Officer Director
$0 $0 $0
DONALD GROB DIRECTOR 0.50
Director
$0 $0 $0
TERRY HENNING DIRECTOR 0.50
Director
$0 $0 $0
RONNY PHILLIP DIRECTOR 0.50
Director
$0 $0 $0
ERNIE TAN DIRECTOR 0.50
Director
$0 $0 $0
SANDRA THOMAS SECRETARY 0.50
Officer Director
$0 $0 $0
LAURA BOWMAN DIRECTOR 0.50
Director
$0 $0 $0
DAVID DOBSON DIRECTOR 0.50
Director
$0 $0 $0
HANNAH HENNING PRESIDENT 0.50
Officer Director
$0 $0 $0
GREG TRACY ADMINISTRATOR 60.00
Officer
$43,222 $0 $43,222
TERRY CARRICK ADMINISTRATOR OF FINANCE 45.00
Officer
$83,346 $0 $83,346
MARY BENNETT ACCOUNTING DIRECTOR 45.00
Officer
$13,240 $0 $13,240
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 No data No data No data No data
2024 $5,808,844 $5,672,919 $12,317,656 $135,925
2023 $5,217,253 $5,139,509 $12,631,742 $77,744
2022 $5,820,994 $3,983,351 $14,494,906 $1,837,643
2021 $4,068,072 $3,654,512 $9,429,144 $413,560
2020 $4,216,211 $3,629,626 $6,847,498 $586,585
2019 $4,058,300 $3,616,296 $5,729,135 $442,004
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