Palmer Home for Children

The information in this column was provided to MinistryWatch by the ministry itself. It was last updated 4/3/2021. To update the information in this column, please email: info@ministrywatch.com


Summary

For more than 125 years, Palmer Home has empowered children in critical situations to reach their true potential by providing restorative environments that support healthy development and nurture resilience.


Contact information

Mailing address:
Palmer Home for Children
PO Box 746
Columbus, MS 39703

Website: palmerhome.org

Phone: 855-672-5637

Email: palmerhome.org/about/contact/


Organization details

EIN: 640334999

CEO/President: Drake Vassett

Chairman: Trip Hairston

Board size: 15

Founder: William States Jacobs

Year founded: 1946

Tax deductible: Yes

Fiscal year end: 06/30

Member of ECFA: Yes

Member of ECFA since: 1995


Purpose

Our proprietary approach to care provides a trauma informed, holistic, and relationally centered foundation and guides all that we do. We seek to help vulnerable children overcome trauma and position them to thrive in home, school and community life. Whole Child Initiative operates through four core principles:

WHOLE STORY: Children's needs are best understood and met in the context of their history and the impact it has on their life. Taking into account their full story allows us to insightfully respond to the effects of early life adversity.

WHOLE CHILD: Children with a history of trauma have unique physical, emotional, social, educational and spiritual needs. Each of these must be addressed for the healing process to begin.

WHOLE TEAM: A collaborative team of caregivers, staff, community professionals, and the child's family members come together to develop a trauma responsive plan of care.

WHOLE CAREGIVER: Healthy relationships with children require healthy caregivers. We equip our caregivers with regular training, relevant resources, respite and ongoing support.


Mission statement

Palmer Home provides superior care for children while introducing the love of God through our service to each individual child. Palmer Home ensures restorative environments where children feel safe, connected and supported. Whether on campus or off, each child served by Palmer Home has a safe place to call home with trustworthy, supportive adults to guide them as they grow and develop into all that God created them to be. Palmer Home provides holistic care to each child based on their unique physical, emotional, spiritual and educational needs.


Statement of faith

Transparency grade

A

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Adoption/Foster Care

CategoryRatingOverall rankSector rank
Overall efficiency rating789 of 81717 of 19
Fund acquisition rating732 of 81716 of 19
Resource allocation rating616 of 81716 of 19
Asset utilization rating767 of 81718 of 19

Financial ratios

Funding ratiosSector median20182017201620152014
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
13%17%23%20%16%19%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
5%13%17%19%14%14%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
52%78%75%96%92%77%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
5%17%20%18%19%19%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
48%22%25%4%8%23%
 
Operating ratiosSector median20182017201620152014
Program expense ratio Program expense ratio =
Program services /
Total expenses
81%72%67%67%69%68%
Spending ratio Spending ratio =
Total expenses /
Total revenue
98%78%89%102%77%74%
Program output ratio Program output ratio =
Program services /
Total revenue
77%56%60%69%53%51%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
2%22%11%-2%23%26%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
7%7%4%-1%9%11%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
11%11%13%15%13%12%
 
Investing ratiosSector median20182017201620152014
Total asset turnover Total asset turnover =
Total expenses /
Total assets
1.200.250.290.280.270.28
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
2.407.049.664.294.441.59
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
3.081.792.781.221.200.45
 
Liquidity ratiosSector median20182017201620152014
Current ratio Current ratio =
Total current assets /
Total current liabilities
3.2510.576.5720.1818.5747.08
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.310.090.150.050.050.02
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
2.756.083.659.379.4825.97
 
Solvency ratiosSector median20182017201620152014
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
22%3%4%5%7%9%
Debt ratio Debt ratio =
Debt /
Total assets
0%0%0%2%3%4%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
47%382%332%334%346%319%

Financials

Balance sheet
 
Assets20182017201620152014
Cash$2,679,787$1,379,767$4,116,499$4,027,607$3,512,140
Receivables, inventories, prepaids$646,927$891,953$851,381$879,706$194,719
Short-term investments$0$0$0$0$9,155,814
Other current assets$0$0$0$0$0
Total current assets$3,326,714$2,271,720$4,967,880$4,907,313$12,862,673
Long-term investments$10,463,369$9,969,999$8,935,372$9,426,679$0
Fixed assets$7,774,132$7,853,093$5,586,962$5,552,254$5,802,792
Other long-term assets$1,866,749$1,850,704$1,840,393$1,880,725$1,827,733
Total long-term assets$20,104,250$19,673,796$16,362,727$16,859,658$7,630,525
Total assets$23,430,964$21,945,516$21,330,607$21,766,971$20,493,198
 
Liabilities20182017201620152014
Payables and accrued expenses$314,619$345,834$246,187$264,213$273,235
Other current liabilities$0$0$0$0$0
Total current liabilities$314,619$345,834$246,187$264,213$273,235
Debt$7,800$109,463$346,641$578,500$861,940
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$423,013$503,618$555,101$603,464$805,495
Total long-term liabilities$430,813$613,081$901,742$1,181,964$1,667,435
Total liabilities$745,432$958,915$1,147,929$1,446,177$1,940,670
 
Net assets20182017201620152014
Unrestricted$12,288,951$11,493,173$9,606,275$9,806,566$9,699,477
Temporarily restricted$2,468,940$2,118,165$3,908,754$3,523,584$1,948,430
Permanently restricted$7,927,641$7,375,263$6,667,649$6,990,644$6,904,621
Net assets$22,685,532$20,986,601$20,182,678$20,320,794$18,552,528
 
Revenues and expenses
 
Revenue20182017201620152014
Total contributions$5,926,708$5,330,192$5,690,503$7,020,593$5,995,875
Program service revenue$0$0$0$0$0
Membership dues$0$0$0$0$0
Investment income$70,590$61,277$35,167($13,393)$417,003
Other revenue$1,643,957$1,736,954$181,262$637,865$1,419,351
Total other revenue$1,714,547$1,798,231$216,429$624,472$1,836,354
Total revenue$7,641,255$7,128,423$5,906,932$7,645,065$7,832,229
 
Expenses20182017201620152014
Program services$4,285,933$4,248,351$4,048,962$4,034,407$3,965,559
Management and general$635,008$838,709$885,422$741,624$719,762
Fundraising$1,021,383$1,237,440$1,110,664$1,103,678$1,132,052
Total expenses$5,942,324$6,324,500$6,045,048$5,879,709$5,817,373
 
Change in net assets20182017201620152014
Surplus (deficit)$1,698,931$803,923($138,116)$1,765,356$2,014,856
Other changes in net assets$0$0$0$0$0
Total change in net assets$1,698,931$803,923($138,116)$1,765,356$2,014,856

Compensation

NameTitleCompensation
Drake BassettPresident & CEO$221,159
Sarah HollisV.p. of Engagement$132,464
Robert FarrisV.p. of Strategic Initiati$117,184
Carol WrightV.p. of Business Affairs$108,084

Compensation data as of: 6/30/2018


Response from ministry

No response has been provided by this ministry.


The information below was provided to MinistryWatch by the ministry itself. It was last updated 4/3/2021. To update the information below, please email: info@ministrywatch.com


History

Take a look at Palmer Home's history, beginning with a biblical call and hope to communicate the love of Christ to children in need.

1895 - A year after moving to Columbus, Mississippi, to lead the congregation of First Presbyterian Church, William States Jacobs calls on his church to establish a home to care for children in need. Palmer Orphanage is awarded a formal charter.

1899 - Palmer Orphanage officially opens with 20 boys and girls in its care, doubling its numbers and adding more dormitories within five years.

1919 - John Frierson takes his father's place as superintendent of Palmer Home, continuing William Frierson's legacy of investing in each child's spiritual development. The Frierson family embraced the children in their care, transforming the orphanage into a large, loving family.

1950s - After the orphanage and its people withstood some of the country's most difficult times in history, including World Wars I and II and the Great Depression, J.O. "Papa Joe" Davis was named superintendent and transitioned Palmer to cottage-style family housing.

1970s - Palmer Orphanage no longer described the home setting it offered. This was reflected in its name change-it would now be known as Palmer Home.

1981 - Palmer Home voted to become independent of direct church control yet retained its Christ-centered mission and involvement with churches throughout the country.

1990 - Palmer Home purchased land to expand the ministry to Hernando, Mississippi.

1995 - Palmer Home celebrated 100 years of service.

1997 - Palmer Home installed greenhouses on the Columbus campus to help children learn to grow plants and vegetables.

2000s - Palmer Home developed and solidified expansion plans for the Hernando campus, building three cottage-style homes, Hope Chapel, and Grace Home for the campus director.

2012 - Current President and CEO Drake Bassett took the helm of Palmer Home, focusing on expanding the scope of care.

2014 - Palmer Home established the Whole Child Initiative, a model of care designed to address the unique and varying physical, educational, spiritual and emotional needs of each child in Palmer Home's care. This approach helps caregivers guide children through their trauma and into better capacities to thrive at home, in school, and in their communities.

2014 - Palmer Home partnered with Jonah's Journey in Nashville, Tennessee to expand services to children of incarcerated mothers.

2017 - Three new cottage-style homes were constructed and dedicated on the Hernando campus.

2019 - The Palmer Home board of directors vote to close the historic Columbus campus and consolidate all residential Campus Care activities to the Panther Creek Ranch campus in Hernando.

2019 - Palmer Home embraced a new strategic direction by building on its residential history, now termed Campus Care, and introduced three new service lines: Foster Care, Family Care, and Transitional Care.

2019 - Palmer Home broke ground on the Dr. Hugh J. Francis, Jr. Wellness Center with a targeted completion date of 2021.


Program accomplishments


Needs

Palmer Home began as a small orphanage and has grown into a robust ministry impacting the lives of children in need. You can help that legacy continue. Whether it's financial donations or getting involved, you can support Palmer Home's mission to help children in need.