There are many ways that you could translate that. Unfortunately, the one you posted is incorrect. Actually, the words you chose are not necessarily incorrect, but grammatically they make no sense, all being in the nominative case (except matris).
Just out of curiosity, what is the source of the quote? You may want to consider that before having it engraved in Latin. If it's something that was originally written or spoken in English, I'd suggest it might be better to leave it that way.
Also, what effect are you looking for? I ask because people often like the pithiness of famous Latin phrases. Annuit coeptis probably has more effect for those in the know than "He (God) has favored our undertakings." Would you be interested in condensing the phrase in translation in order to give it more gravitas to English speaking sensibilities?
So anyway, here's one literal translation:
'Mater' est verbum pro deo in labiis animisque omnium liberorum.
Others may have different suggestions that you might prefer.