COVENANT HOME (EIN 362643638) - 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

1962

Legal Domicile

Principal Officer

DAVID ERICKSON

Phone

8474806380

Tax Period

2023-10-01 to 2024-09-30

COVENANT HOME, founded in 1962, is a mid-sized nonprofit in the Human Services sector that reported $27.1M in total revenue in fiscal year 2023. Revenue grew 20% year-over-year, indicating healthy expansion. The organization ran a surplus of $7.7M, a strong 29% operating margin.

Mission

CARE FOR SENIOR ADULTS.

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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 $729,226

Program Service Revenue $19,558,684

Investment Income $6,415,187

Other Revenue $362,686

TOTAL REVENUE $27,065,783

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,716,757

Fundraising Expenses $260,135

Program Expenses $12,583,979

Other Expenses $14,632,335

TOTAL EXPENSES $19,349,092

Year-over-Year Comparison

	2023	2022	Change
Revenue	$27,065,783	$22,644,877	+0.2%
Expenses	$19,349,092	$16,436,135	+0.2%
Net Income	$7,716,691	$6,208,742	+0.2%

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

415

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

$3,161,302

Total Directors

$2,095,747

Key Employees

$902,982

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TERRI S CUNLIFFE	DIRECTOR/CLCS PRESIDENT/CEO-PART YR	1.00	Officer Director	$0	$33,657	$961,812
DAVID G ERICKSON	GEN COUNSEL PART YR/ASST SEC/CEO	1.00	Officer Director	$0	$122,066	$554,672
TODD SLECHTA	DIRECTOR/EX-OFFICIO	0.10	Director	$0	$59,996	$365,122
TAMMY SWANSON-DRAHEIM	DIRECTOR/EX-OFFICIO	0.10	Director	$0	$105,500	$214,141
JANET CREANEY	DIRECTOR/CHAIR	0.10	Officer Director	$0	$0	$0
LORENE FLEWELLEN	DIRECTOR/VICE CHAIR	0.10	Officer Director	$0	$0	$0
JANET GOELZ HOFFMAN	DIRECTOR/SECRETARY	0.10	Officer Director	$0	$0	$0
ALLAN ANDERSON	DIRECTOR	0.10	Director	$0	$0	$0
SARAH BENTLEY	DIRECTOR	0.10	Director	$0	$0	$0
KATHY BUETTNER	DIRECTOR	0.10	Director	$0	$0	$0
PAMELA CHRISTENSEN	DIRECTOR	0.10	Director	$0	$0	$0
ARTHUR DEROOY	DIRECTOR/EX-OFFICIO - PART YEAR	0.10	Director	$0	$0	$0
JOHN FREDRICKSON	DIRECTOR	0.10	Director	$0	$0	$0
KURT KINCANON	DIRECTOR	0.10	Director	$0	$0	$0
MATTHEW MANLOVE	DIRECTOR	0.10	Director	$0	$0	$0
ROBERT MARTIN	DIRECTOR	0.10	Director	$0	$0	$0
JENNIFER MEANS	DIRECTOR	0.10	Director	$0	$0	$0
MARY PALMER	DIRECTOR/EX-OFFICIO	0.10	Director	$0	$0	$0
LOANN PETERSON	DIRECTOR - PART YEAR	0.10	Director	$0	$0	$0
DIXIE REPPE	DIRECTOR - PART YEAR	0.10	Director	$0	$0	$0
RICK SHEPARD	DIRECTOR	0.10	Director	$0	$0	$0
ANDREW VANOVER	DIRECTOR	0.10	Director	$0	$0	$0
JEAN E JUSTIE	CFO/TREASURER/ASST SECRETARY	1.00	Officer	$0	$90,531	$550,215
WILLIAM RABE	CHIEF INFO & TECH OFFICER/ASST SEC.	1.00	Officer	$0	$60,892	$424,704
EMILY WARNYGORA	SR. EXEC. ASST TO CEO/ASST SECRETARY	1.00	Officer	$0	$13,095	$108,766
JAY PRINCE	SVP, COMMUNITY OPS/ASST SECRETARY	1.00	Officer	$0	$24,248	$235,346
CORY KALLHEIM	GENERAL COUNSEL/ASST SECRETARY	1.00	Officer	$0	$70,455	$325,787
HILDE SAGER	EXECUTIVE DIRECTOR/ASSOC VP, OPERATIONS	1.00	Key Emp	$0	$52,452	$303,119
TANDERIA BROWN	CHIEF HUMAN RESOURCES OFFICER	1.00	Key Emp	$0	$65,889	$370,604
MICHELLE PARDUN	EXECUTIVE DIRECTOR	40.00	Key Emp	$192,099	$37,160	$229,259
KATHRYN BERG	HEALTHCARE ADMINISTRATOR	40.00	Highest	$138,956	$36,556	$175,512
ANGELA HENSON	DIRECTOR OF SALES	40.00	Highest	$130,333	$24,591	$154,924
AMY MAGNUSSON	SALES REPRESENTATIVE	40.00	Highest	$135,830	$16,878	$152,708
JONI MANTELMAN	DIRECTOR OF NURSING	40.00	Highest	$130,774	$23,703	$154,477
JANICE PARKIN	REGIONAL DIRECTOR, PHILANTHROPY	40.00	Highest	$126,672	$27,500	$154,172
CORY STERN	FORMER INTERIM FINANCE LEAD/TREAS.	0.00		$0	$34,904	$268,486

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	$27,065,783	$19,349,092	$216,419,762	$7,716,691
2023	$22,644,877	$16,436,135	$204,671,936	$6,208,742
2022	$19,046,424	$17,295,620	$184,603,324	$1,750,804
2021	$19,986,763	$18,745,205	$166,475,205	$1,241,558
2020	$19,640,302	$17,735,335	$123,384,188	$1,904,967
2019	$17,428,290	$17,092,830	$120,402,908	$335,460

COVENANT HOME