COVENANT MINISTRIES OF BENEVOLENCE

EIN: 363486813 501(c)(3) Unknown

CHICAGO, IL

Total Revenue
$6,293,110
Total Expenses
$5,100,408
Total Assets
$59,745,617
Net Assets
$54,111,690
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1986
Legal Domicile
IL
Principal Officer
SCOTT HANSON
Phone
7739891610
Tax Period
2023-10-01 to 2024-09-30

COVENANT MINISTRIES OF BENEVOLENCE, founded in 1986, is a community nonprofit in the Unknown sector that reported $5.4M in total revenue in fiscal year 2018. Revenue fell 22% from the prior year — a significant decline worth monitoring. Expenses of $7.3M exceeded revenue, resulting in a 35% operating deficit.

Mission

TO SUPPORT ORGANIZATIONS SERVING THE SICK, DISABLED, AGING, POOR AND VULNERABLE.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $872,368
Program Service Revenue $3,159,448
Investment Income $1,818,301
Other Revenue $442,993
TOTAL REVENUE $6,293,110

Expense Breakdown

Grants Paid $1,032,144
Salaries & Benefits $1,464,589
Fundraising Expenses $0
Program Expenses $3,487,528
Other Expenses $2,603,675
TOTAL EXPENSES $5,100,408

Year-over-Year Comparison

2023 2022 Change
Revenue $6,293,110 $5,762,434 +0.1%
Expenses $5,100,408 $4,614,452 +0.1%
Net Income $1,192,702 $1,147,982 +0.0%
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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Governance

Voting Members
18
Independent Members
15
Employees
12
Volunteers
19

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
10
$1,517,362
Total Directors
22
$819,682
Key Employees
0
$0
Highest Compensated
3
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SCOTT HANSON SVP OF FINANCE 40.00
Officer Director
$206,506 $33,913 $240,419
TODD SLECHTA EX-OFFICIO/PRESIDENT OF CMB & CIC 40.00
Officer Director
$305,126 $59,996 $365,122
TAMMY SWANSON-DRAHEIM DIRECTOR/EX-OFFICIO/ECC PRES 0.10
Officer Director
$0 $105,500 $214,141
MARY PALMER DIRECTOR/CHAIR 0.10
Officer Director
$0 $0 $0
CURT ANDERSON DIRECTOR/VICE CHAIR 0.10
Officer Director
$0 $0 $0
DARRYL JOHNSON DIRECTOR/SECRETARY 0.10
Officer Director
$0 $0 $0
ARTHUR B DEROOY DIRECTOR/TREASURER 0.10
Officer Director
$0 $0 $0
HILARY APPLEQUIST DIRECTOR - PART YEAR 0.10
Director
$0 $0 $0
BILL CLARK DIRECTOR 0.10
Director
$0 $0 $0
WILL DAVIDSON DIRECTOR/EX-OFFICIO 0.10
Director
$0 $0 $0
SCOTT DENNIS DIRECTOR/EX-OFFICIO - PART YEAR 0.10
Director
$0 $0 $0
TRACY HILTS DIRECTOR 0.10
Director
$0 $0 $0
CYNDI HOFFMAN DIRECTOR/EX-OFFICIO 0.10
Director
$0 $0 $0
BEN MOORE DIRECTOR 0.10
Director
$0 $0 $0
TRAVIS NORDSTROM DIRECTOR 0.10
Director
$0 $0 $0
SUSAN C POSTON DIRECTOR 0.10
Director
$0 $0 $0
KAREN RYDELL DIRECTOR - PART YEAR 0.10
Director
$0 $0 $0
LINDA SCHOONOVER DIRECTOR - PART YEAR 0.10
Director
$0 $0 $0
KECIA STROOT DIRECTOR 0.10
Director
$0 $0 $0
SEMMEAL THOMAS DIRECTOR 0.10
Director
$0 $0 $0
TIFFINE WATTS DIRECTOR 0.10
Director
$0 $0 $0
GREG YEE DIRECTOR/EX-OFFICIO 0.10
Director
$0 $0 $0
LINDA STUHMER ASST. SEC., SVP AND GENERAL COUNSEL 40.00
Officer
$0 $66,876 $469,419
MARIT JOHNSON AWES ASSISTANT SECRETARY 40.00
Officer
$113,344 $29,230 $142,574
KATIE PAGANI ASSISTANT SECRETARY 40.00
Officer
$83,194 $2,493 $85,687
DAVID BOGGS EXECUTIVE DIRECTOR 40.00
Highest
$126,999 $16,471 $143,470
RON ANDERSON ACCOUNTING MANAGER 40.00
Highest
$128,930 $27,884 $156,814
DANA NORTON CAMPUS EXECUTIVE DIRECTOR 40.00
Highest
$109,123 $0 $109,123
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 $6,293,110 $5,100,408 $59,745,617 $1,192,702
2023 $5,762,434 $4,614,452 $53,871,214 $1,147,982
2022 $6,251,372 $4,908,357 $52,382,497 $1,343,015
2021 $7,028,359 $4,174,525 $60,872,266 $2,853,834
2020 $23,603,989 $5,941,928 $55,502,310 $17,662,061
2019 $5,363,793 $7,264,719 $20,756,018 $-1,900,926
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