Covia Foundation

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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

2002

Legal Domicile

Principal Officer

John Woodward

Phone

9259567400

Tax Period

2021-04-01 to 2022-03-31

Covia Foundation, founded in 2002, is a community nonprofit that reported $7.8M in total revenue in fiscal year 2021. Revenue surged 44% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.6M, a strong 20% operating margin.

Mission

THE MISSION OF COVIA FOUNDATION IS TO SOLICIT CONTRIBUTIONS, INVEST AND MAINTAIN ASSETS AND MAKE DISTRIBUTIONS FOR THE CONTINUING FINANCIAL SUPPORT OF COMMUNITY OUTREACH, ASSISTANCE AND CAPITAL IMPROVEMENT NEEDS OF COVIA COMMUNITIES AND ITS RESIDENTS.

Program Service Accomplishments

Program 1

Expenses: $5,391,170

TO ESTABLISH AND MAINTAIN FUNDS TO BENEFIT AND PROVIDE CONTINUING FINANCIAL SUPPORT OF THE CAPITAL, COMMUNITY OUTREACH, FINANCIAL ASSISTANCE, AND OTHER CHARITABLE PURPOSES OF COVIA COMMUNITIES.

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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 (2021)

Revenue Breakdown

Contributions & Grants $7,736,042

Program Service Revenue $0

Investment Income $105,037

Other Revenue $-49,931

TOTAL REVENUE $7,791,148

Expense Breakdown

Grants Paid $5,391,170

Salaries & Benefits $669,612

Fundraising Expenses $0

Program Expenses $5,391,170

Other Expenses $164,021

TOTAL EXPENSES $6,224,803

Year-over-Year Comparison

	2021	2020	Change
Revenue	$7,791,148	$5,427,768	+0.4%
Expenses	$6,224,803	$5,668,587	+0.1%
Net Income	$1,566,345	$-240,819	-7.5%

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

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

$4,209,496

Total Directors

Key Employees

$698,181

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
John Woodward	CEO	1.0	Officer	$0	$10,268	$1,042,970
Diana Jamison	TREASURER, CFO	1.0	Officer	$0	$20,929	$766,608
Eduardo Salvador	CFO	2.0	Officer	$0	$49,111	$592,875
Mary McMullin	SEC./CHIEF STRGY & ADV OFFICER	1.0	Officer	$0	$48,996	$574,602
Ronald Schaefer	COO - end: Feb 2022	1.0	Officer	$0	$28,922	$519,666
Joseph Butler	ASSISTANT SECRETARY	1.0	Officer	$0	$11,719	$483,490
Christopher Ichien	VP OF LIFE PLAN OPERATIONS	1.0	Key Emp	$0	$43,680	$365,654
Christopher Dana	VP Of INFORMATION TECHNOLOGY -	1.0	Key Emp	$0	$73,964	$332,527
Katharine Miller	Executive Director	40.0	Officer	$0	$20,109	$229,285
PETER DUNCKEL	DIRECTOR	1.0	Director	$0	$0	$0
NANCY DURANTEAU	DIRECTOR	1.0	Director	$0	$0	$0
VINCE FORTE	VICE CHAIR	1.0	Officer Director	$0	$0	$0
JOANNE HANDY	DIRECTOR	1.0	Director	$0	$0	$0
MARY ELLEN HEISING	DIRECTOR	1.0	Director	$0	$0	$0
LAURA JACOBS	DIRECTOR	1.0	Director	$0	$0	$0
JIMMIE KENNEDY	DIRECTOR	1.0	Director	$0	$0	$0
KEVIN KROEKER	DIRECTOR	1.0	Director	$0	$0	$0
MARION MCGOVERN	DIRECTOR	1.0	Director	$0	$0	$0
KAY MURPHY	DIRECTOR	1.0	Director	$0	$0	$0
DEBORAH PROCTOR	CHAIR	1.0	Officer Director	$0	$0	$0
SUANNE RAMAR	DIRECTOR	1.0	Director	$0	$0	$0
LANNIE TONNU	DIRECTOR	1.0	Director	$0	$0	$0
OLIVER WESSON JR	DIRECTOR	1.0	Director	$0	$0	$0
SUSAN WHITTAKER	DIRECTOR	1.0	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
2022	$7,791,148	$6,224,803	No data	$1,566,345
2021	$5,427,768	$5,668,587	$15,242,490	$-240,819
2020	$6,225,773	$6,141,295	$14,302,325	$84,478
2019	$5,265,002	$5,725,045	$14,648,387	$-460,043