COVENANT HEALTH PARTNERS INC (EIN 463516417) - 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

2013

Legal Domicile

Principal Officer

WALTER CATHEY

Phone

8067250711

Tax Period

2023-01-01 to 2023-12-31

COVENANT HEALTH PARTNERS INC, founded in 2013, is a mid-sized nonprofit in the Health Care sector that reported $21.8M in total revenue in fiscal year 2023. Revenue surged 20% from the prior year, signaling strong growth momentum.

Mission

AS EXPRESSIONS OF GOD'S HEALING LOVE, WITNESSED THROUGH THE MINISTRY OF JESUS, WE ARE STEADFAST IN SERVING ALL, ESPECIALLY THOSE WHO ARE 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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $21,836,754

Investment Income $0

Other Revenue $0

TOTAL REVENUE $21,836,754

Expense Breakdown

Grants Paid $2,520

Salaries & Benefits $13,108,634

Fundraising Expenses $0

Program Expenses $14,905,816

Other Expenses $8,725,599

TOTAL EXPENSES $21,836,753

Year-over-Year Comparison

	2023	2022	Change
Revenue	$21,836,754	$18,191,962	+0.2%
Expenses	$21,836,753	$18,120,743	+0.2%
Net Income	$1	$71,219	-1.0%

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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

193

Volunteers

N/A

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

$2,670,019

Total Directors

$8,017,212

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WALTER CATHEY	CEO (PART YEAR)	18.00	Officer	$0	$203,418	$1,645,841
JOHN GRIGSON	FRMR OFF. - TX/NM REG. CFO	0.00		$0	$31,533	$1,057,577
NILESH PATEL MD	BOARD MEMBER - THRU 12/31/23	0.50	Director	$0	$102,320	$1,056,348
JASON STREFLING MD	BOARD MEMBER	0.50	Director	$0	$66,737	$953,345
RYAN OWEN MD	BOARD MEMBER	0.50	Director	$0	$64,707	$815,456
JAMES KELLY	FRMR OFF. - VP SENIOR CORP COUNSEL	0.00		$0	$104,422	$808,682
RICHARD HENDERSON MD	BOARD MEMBER	0.50	Director	$0	$87,076	$770,536
JEREMY DALTON MD	BOARD MEMBER	0.50	Director	$0	$49,626	$655,838
MICHAEL ROBERTSON MD	CHP CEO - THRU 11/23	27.50	Officer	$486,174	$39,691	$525,865
CHETLEN CROSSNOE MD	BOARD MEMBER	0.50	Director	$0	$22,757	$454,435
JEFFREY HANNEL MD	BOARD MEMBER	0.50	Director	$0	$47,858	$448,615
JEREMY L BROWN MD	BOARD MEMBER	0.50	Director	$0	$72,052	$447,504
WILLIAM B SNODGRASS MD	BOARD MEMBER/CHAIR	1.00	Director	$0	$41,709	$425,613
CHRISTOPHER COLLINS MD	BOARD MEMBER	0.50	Director	$0	$18,812	$388,859
KAREN TALUSAN-SORIANO MD	BOARD MEMBER	0.50	Director	$0	$63,553	$370,247
BRENT NALL MD	BOARD MEMBER	0.50	Director	$0	$35,158	$366,840
DAVID STOWERS	EXECUTIVE DIRECTOR CARE MANAGEMENT	50.00	Highest	$294,729	$47,584	$342,313
JOEL LANDRY	BOARD MEMBER	0.50	Director	$0	$37,722	$314,151
MARISSA YATES MD	BOARD MEMBER	0.50	Director	$0	$38,497	$297,553
RACHAEL STEHLING	EXEC DIR, BUSINESS DEVELOPMENT	50.00	Highest	$226,355	$45,107	$271,462
ADAM SPIVEY	CFO - THRU 11/23	14.00	Officer	$0	$30,940	$260,906
ANGELA FERGUSON MD	BOARD MEMBER - THRU 12/31/23	0.50	Director	$0	$39,955	$251,872
KATHLEEN BURRELL	SECR./ASSOCIATE COUNSEL (PART YEAR)	7.00	Officer	$0	$31,334	$193,718
ALLISON HORTON	CLINICAL PHARMACIST	50.00	Highest	$167,320	$20,155	$187,475
LISA BARRINGTON	DIR, QUALITY IMPROVEMENT	50.00	Highest	$151,552	$34,505	$186,057
SAMMY RAY	DIR. PLATFORM OPERATIONS TELEHEALTH	50.00	Highest	$149,450	$25,131	$174,581
LINDZI TIMBERLAKE	SECRETARY - THRU 3/23	0.50	Officer	$0	$3,401	$43,689
JOSHUA HILL MD	BOARD MEMBER	0.50	Director	$0	$0	$0
RANDY ROZEAN MD	BOARD MEMBER	0.50	Director	$0	$0	$0
SWETHA GADWALA MD	BOARD MEMBER	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
2024	No data	No data	No data	No data
2023	$21,836,754	$21,836,753	$18,585,088	$1
2022	$18,191,962	$18,120,743	$20,493,473	$71,219
2021	$16,901,042	$16,895,418	$20,551,600	$5,624
2020	$19,583,575	$18,941,033	$9,051,325	$642,542
2019	$19,745,208	$18,986,202	$11,296,867	$759,006
2018	$21,901,730	$20,195,367	$10,222,617	$1,706,363

COVENANT HEALTH PARTNERS INC