COVENANT INITIATIVES FOR CARE INC

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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

1986

Legal Domicile

Principal Officer

SCOTT HANSON

Phone

7739891610

Tax Period

2024-01-01 to 2024-09-30

COVENANT INITIATIVES FOR CARE INC, founded in 1986, is a small nonprofit that reported $559K in total revenue in fiscal year 2024. Revenue fell 22% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $253K, a strong 45% operating margin.

Mission

OUR MISSION IS TO EXPRESS THE LIFE GIVING AND SUSTAINING MINISTRY OF JESUS CHRIST THROUGH THE DEVELOPMENT, ADVANCEMENT AND GOVERNANCE OF MISSION DRIVEN ORGANIZATIONS SERVING PEOPLE WHO ARE SICK, DISABLED, AGING, POOR OR VULNERABLE.

Program Service Accomplishments

Program 1

Expenses: $251,453 Revenue: $474,000

CIC PROVIDES OVERARCHING GOVERNANCE, MARKETING AND SOME ADMINISTRATION FOR CIC MINISTRIES AS FOLLOWS:1. COVENANT ABILITY NETWORK "CAN" (FORMERLY COVENANT ENABLING RESIDENCES) PROMOTES A FULFILLING...

CIC PROVIDES OVERARCHING GOVERNANCE, MARKETING AND SOME ADMINISTRATION FOR CIC MINISTRIES AS FOLLOWS:1. COVENANT ABILITY NETWORK "CAN" (FORMERLY COVENANT ENABLING RESIDENCES) PROMOTES A FULFILLING LIFESTYLE FOR DEVELOPMENTALLY DISABLED ADULTS. ENABLING AN ENHANCED QUALITY OF LIFE WHETHER THAT IS LIVING INDEPENDENTLY, BEING GAINFULLY EMPLOYED OR MAKING A MEANINGFUL CONTRIBUTION TO SOCIETY - IS THE HEART OF THEIR MISSION. CAN OPERATES IN 3 STATES: ILLINOIS, MICHIGAN AND MINNESOTA. 2. COVENANT CHILDREN'S MINISTRIES "CCM" ROLE IS A GRANT MAKING AGENCY PRIMARILY TO COVENANT CHURCH RELATED PROGRAMS FOR AT-RISK YOUTH.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $474,000

Investment Income $45,931

Other Revenue $38,572

TOTAL REVENUE $558,503

Expense Breakdown

Grants Paid $0

Salaries & Benefits $167,427

Fundraising Expenses $0

Program Expenses $251,453

Other Expenses $138,193

TOTAL EXPENSES $305,620

Year-over-Year Comparison

	2024	2023	Change
Revenue	$558,503	$711,843	-0.2%
Expenses	$305,620	$585,590	-0.5%
Net Income	$252,883	$126,253	+1.0%

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

N/A

Volunteers

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TODD SLECHTA	PRESIDENT/EX-OFFICIO	0.10	Officer Director	$0	$0	$0
PHIL NEW	DIRECTOR/CHAIR	0.10	Officer Director	$0	$0	$0
KATHY BUETTNER	DIRECTOR/VICE CHAIR	0.10	Officer Director	$0	$0	$0
DONNA ERICKSON	DIRECTOR/SECRETARY	0.10	Officer Director	$0	$0	$0
MARY PALMER	DIRECTOR/EX-OFFICIO	0.10	Director	$0	$0	$0
WILF BROCK	DIRECTOR	0.10	Director	$0	$0	$0
ANKER CHRISTENSEN	DIRECTOR	0.10	Director	$0	$0	$0
LEE CORMIER	DIRECTOR	0.10	Director	$0	$0	$0
RICK FISK	DIRECTOR	0.10	Director	$0	$0	$0
RENELLE NELSON	DIRECTOR	0.10	Director	$0	$0	$0
DON OLSON	DIRECTOR	0.10	Director	$0	$0	$0
BARBARA PERSON	DIRECTOR	0.10	Director	$0	$0	$0
HAROLD SPOONER	DIRECTOR	0.10	Director	$0	$0	$0
MARK STROMBERG	DIRECTOR	0.10	Director	$0	$0	$0
SCOTT HANSON	SVP OF FINANCE/EX-OFFICIO	0.10	Officer	$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
2024	$558,503	$305,620	$5,756,433	$252,883
2023	$711,843	$585,590	$4,723,218	$126,253