COVENANT HEALTHCARE SYSTEM (EIN 383369443) - 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

1997

Legal Domicile

Principal Officer

BETHANY CHARLTON

Phone

9895836006

Tax Period

2024-07-01 to 2025-06-30

COVENANT HEALTHCARE SYSTEM, founded in 1997, is a micro nonprofit in the Health Care sector that reported $8K in total revenue in fiscal year 2024. Revenue fell 84% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $8K, a strong 99% operating margin.

Mission

THE ORGANIZATION IS THE PARENT COMPANY OF THE HEALTHCARE SYSTEM AND SUPPORTS THE MEDICAL CENTER AND AFFILIATED ENTITIES IN THE PROVISION OF HEALTH CARE SERVICES TO THE COMMUNITY.

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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 $0

Investment Income $8,416

Other Revenue $0

TOTAL REVENUE $8,416

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $55

TOTAL EXPENSES $55

Year-over-Year Comparison

	2024	2023	Change
Revenue	$8,416	$52,136	-0.8%
Expenses	$55	N/A	N/A
Net Income	$8,361	$52,136	-0.8%

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

$7,268,548

Total Directors

$2,363,321

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BETHANY CHARLTON	PRESIDENT	4.00	Officer Director	$0	$867,822	$1,907,478
JAMES MILROY	CHAIRMAN	4.00	Officer Director	$0	$0	$0
DWIGHT MCNALLY	VICE CHAIRMAN	4.00	Officer Director	$0	$0	$0
JONATHAN GARDEY	TREASURER	4.00	Officer Director	$0	$0	$0
JOHN SHELTON	SECRETARY	4.00	Officer Director	$0	$0	$0
ELLEN CRANE	BOARD MEMBER	4.00	Director	$0	$0	$0
PATRICK CURRY	BOARD MEMBER	4.00	Director	$0	$0	$0
MICHAEL FIORE MD	BOARD MEMBER	4.00	Director	$0	$0	$455,843
CRAIG GOSLIN	BOARD MEMBER	4.00	Director	$0	$0	$0
TIM HAUSBECK	BOARD MEMBER	4.00	Director	$0	$0	$0
RENEE JOHNSTON	BOARD MEMBER	4.00	Director	$0	$0	$0
HERB SPENCE	BOARD MEMBER	4.00	Director	$0	$0	$0
KEVIN ALBOSTA	VP OF FINANCE	4.00	Officer	$0	$311,248	$2,242,171
KEVIN BIRCHMEIER	VICE PRESIDENT	4.00	Officer	$0	$289,008	$870,468
FRANK FEAR	VICE PRESIDENT	4.00	Officer	$0	$34,790	$421,551
DAVID NALL	VICE PRESIDENT	4.00	Officer	$0	$188,354	$542,167
PATRICE LANCZAK	VICE PRESIDENT	4.00	Officer	$0	$13,325	$610,622
JACKIE TINNIN	VICE PRESIDENT	4.00	Officer	$0	$32,473	$314,948
ADAM TOMPA	VICE PRESIDENT	4.00	Officer	$0	$29,496	$359,143
DR IRIS MARTEJA	FORMER VICE PRESIDENT	4.00		$0	$14,920	$441,248
DR MICHAEL SULLIVAN	FORMER VICE PRESIDENT	4.00		$0	$34,265	$426,791

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
2025	$8,416	$55	$13,657,506	$8,361
2024	$52,136	No data	$12,662,467	No data
2023	$518,531	No data	$15,703,140	No data
2022	$1,945,246	No data	$16,516,913	No data
2021	$1,651,678	No data	$19,372,695	No data
2020	$1,404,100	No data	$15,933,844	No data
2019	$600,813	No data	$14,597,268	No data
2018	$1,251,749	No data	$14,027,988	No data

COVENANT HEALTHCARE SYSTEM