COVENANT LIVING COMMUNITIES AND SERVICES (EIN 363478388) - 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

1975

Legal Domicile

Principal Officer

DAVID ERICKSON

Phone

7738782294

Tax Period

2023-10-01 to 2024-09-30

COVENANT LIVING COMMUNITIES AND SERVICES, founded in 1975, is a mid-sized nonprofit in the Human Services sector that reported $45.3M in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year. Net assets of $103.7M represent 27 months of operating reserves.

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 $595,877

Program Service Revenue $40,706,852

Investment Income $3,682,524

Other Revenue $266,462

TOTAL REVENUE $45,251,715

Expense Breakdown

Grants Paid $18,162

Salaries & Benefits $27,129,149

Fundraising Expenses $1,685,500

Program Expenses $33,482,707

Other Expenses $21,655,915

TOTAL EXPENSES $48,803,226

Year-over-Year Comparison

	2023	2022	Change
Revenue	$45,251,715	$50,434,180	-0.1%
Expenses	$48,803,226	$43,236,734	+0.1%
Net Income	$-3,551,511	$7,197,446	-1.5%

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

186

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

$370,604

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TERRI S CUNLIFFE	DIRECTOR/CLCS PRESIDENT/CEO-PART YR	40.00	Officer Director	$928,155	$33,657	$961,812
DAVID G ERICKSON	GEN COUNSEL PART YR/ASST SEC/CEO	40.00	Officer Director	$432,606	$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
JEAN E JUSTIE	CFO/TREASURER/ASST SECRETARY	40.00	Officer	$459,684	$90,531	$550,215
WILLIAM RABE	CHIEF INFO & TECH OFFICER/ASST SEC.	40.00	Officer	$363,812	$60,892	$424,704
CORY KALLHEIM	GENERAL COUNSEL/ASST SECRETARY	40.00	Officer	$255,332	$70,455	$325,787
JAY PRINCE	SVP, COMMUNITY OPS/ASST SECRETARY	40.00	Officer	$211,098	$24,248	$235,346
EMILY WARNYGORA	SR. EXEC. ASST TO CEO/ASST SECRETARY	40.00	Officer	$95,671	$13,095	$108,766
TANDERIA BROWN	CHIEF HUMAN RESOURCES OFFICER	40.00	Key Emp	$304,715	$65,889	$370,604
JAY HIBBARD	CHIEF GROWTH & COMMUNICATION OFFICER	40.00	Highest	$535,205	$90,276	$625,481
FRAN PALMA	CHIEF MKTNG & DIGITAL STRAT OFFICER	22.50	Highest	$478,960	$86,166	$565,126
ELIZABETH MCLAREN	SR VP/REV CYCLE,/REIM, HOME, & COM. SERVS	22.50	Highest	$409,609	$72,347	$481,956
RANDAL GROSS	SENIOR VP, PROJECT DEVELOPMENT	40.00	Highest	$373,069	$32,080	$405,149
MIA LEIBOW	VP, FINANCIAL PLANNING & ANALYSIS	40.00	Highest	$358,705	$31,042	$389,747
CORY STERN	FORMER INTERIM FINANCE LEAD/TREAS.	0.00		$233,582	$34,904	$268,486
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

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	$45,251,715	$48,803,226	$364,266,886	$-3,551,511
2023	$50,434,180	$43,236,734	$305,650,185	$7,197,446
2022	$43,745,688	$41,422,861	$275,632,536	$2,322,827
2021	$56,944,036	$32,848,843	$297,389,461	$24,095,193
2019	$30,917,527	$32,917,002	$146,725,906	$-1,999,475

COVENANT LIVING COMMUNITIES AND SERVICES