COVENANT FOUNDATION INC (EIN 421295784) - 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

1986

Legal Domicile

Principal Officer

RYAN MEYER

Phone

3192728000

Tax Period

2024-07-01 to 2025-06-30

COVENANT FOUNDATION INC, founded in 1986, is a small nonprofit that reported $816K in total revenue in fiscal year 2024. Revenue fell 62% from the prior year — a significant decline worth monitoring. Expenses of $1.0M exceeded revenue, resulting in a 24% operating deficit.

Mission

TO PROVIDE SUPPORT FOR COVENANT MEDICAL CENTER (D/B/A MERCYONE WATERLOO MEDICAL CENTER)

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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 $484,166

Program Service Revenue $0

Investment Income $310,276

Other Revenue $21,729

TOTAL REVENUE $816,171

Expense Breakdown

Grants Paid $728,996

Salaries & Benefits $193,854

Fundraising Expenses $179,212

Program Expenses $728,996

Other Expenses $90,412

TOTAL EXPENSES $1,013,262

Year-over-Year Comparison

	2024	2023	Change
Revenue	$816,171	$2,120,318	-0.6%
Expenses	$1,013,262	$1,257,534	-0.2%
Net Income	$-197,091	$862,784	-1.2%

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

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

$954,556

Total Directors

$1,231,776

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRIAN SIMS DO	DIRECTOR; PHYSICIAN - PEDIATRICS	0.50	Director	$0	$58,440	$660,442
RYAN MEYER	DIRECTOR; MERCYONE NE IA COO	0.50	Officer Director	$0	$104,768	$557,288
TIMOTHY HUBER	MERCYONE NORTHEAST IA VP OF FINANCE	0.50	Officer	$0	$56,525	$397,268
JEWELL JONES	DIRECTOR THR 1/25; REGISTERED NURSE	0.50	Director	$0	$2,592	$14,046
TOM NAGLE	DIRECTOR; CHAIR THROUGH 12/24	0.50	Officer Director	$0	$0	$0
BRIAN SAYER	DIRECTOR; VICE CHAIR	0.50	Officer Director	$0	$0	$0
NANCY WEBER	DIRECTOR; CHAIR AS OF 1/25	0.50	Officer Director	$0	$0	$0
DAVE BOWLING	DIRECTOR; TREASURER	0.50	Officer Director	$0	$0	$0
KIM FETTKETHER	DIRECTOR; SECRETARY	0.50	Officer Director	$0	$0	$0
GABE BERGER	DIRECTOR	0.50	Director	$0	$0	$0
JAMES COLOFF	DIRECTOR	0.50	Director	$0	$0	$0
SARAH CLARK	DIRECTOR	0.50	Director	$0	$0	$0
SHIRLEY DUNLAP	DIRECTOR	0.50	Director	$0	$0	$0
STACY FOLKERS	DIRECTOR	0.50	Director	$0	$0	$0
LISA GATES	DIRECTOR	0.50	Director	$0	$0	$0
WILLIAM KASTEN MD	DIRECTOR	0.50	Director	$0	$0	$0
DAN KEAGLE	DIRECTOR	0.50	Director	$0	$0	$0
BECKY MUDD	DIRECTOR	0.50	Director	$0	$0	$0
AMBER SCHUCHMANN	DIRECTOR	0.50	Director	$0	$0	$0
TONY THOMPSON	DIRECTOR	0.50	Director	$0	$0	$0
MILLISA TIERNEY	DIRECTOR	0.50	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
2025	$816,171	$1,013,262	$6,768,770	$-197,091
2024	$2,120,318	$1,257,534	$6,459,436	$862,784
2023	$829,989	$583,564	$6,511,961	$246,425
2022	$-417,229	$990,016	$5,921,895	$-1,407,245
2021	$2,101,688	$1,849,246	$7,329,140	$252,442
2020	$844,823	$1,014,053	$7,076,698	$-169,230
2019	$1,143,116	$628,894	$7,245,927	$514,222
2018	$1,687,818	$3,360,150	$6,731,706	$-1,672,332

COVENANT FOUNDATION INC