COVENANT VILLAGE INC

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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

1977

Legal Domicile

Principal Officer

E DALE MELTON

Phone

7048672319

Tax Period

2023-10-01 to 2024-09-30

COVENANT VILLAGE INC, founded in 1977, is a mid-sized nonprofit in the Human Services sector that reported $17.2M in total revenue in fiscal year 2023. Revenue surged 20% from the prior year, signaling strong growth momentum.

Mission

OWNS AND OPERATES A CONTINUING CARE RETIREMENT COMMUNITY AND PROVIDES NURSING CARE, ASSISTED LIVING, AND SERVICES FOR THE INDEPENDENT ELDERLY.

Program Service Accomplishments

Program 1

Expenses: $15,658,329 Revenue: $15,775,716

DURING FISCAL YEAR 2023/2024, COVENANT VILLAGE SERVED APPROXIMATELY 275 RESIDENTS. ACCOMMODATIONS INCLUDE 42 TWO-BEDROOM COTTAGES, 138 APARTMENTS (STUDIO, ONE BEDROOM, AND TWO BEDROOM), AND A 71-BED HEALTH CENTER PROVIDING NURSING CARE AND ASSISTED LIVING BEDS. THE MAIN BUILDING INCLUDES A 9,700 SQUARE FOOT WELLNESS CENTER FOR RESIDENTS, THAT INCLUDES STATE OF THE ART CARDIO AND STRENGTH EQUIPMENT AND AN INDOOR SWIMMING POOL AND SPA. COVENANT VILLAGE IS CURRENTLY INVOLVED WITH AN EXPANSION PROJECT WITH THE GOAL OF PROVIDING ADDITIONAL BENEFITS TO CURRENT AND FUTURE RESIDENTS.

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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 $1,365,513

Program Service Revenue $15,775,716

Investment Income $103,977

Other Revenue $0

TOTAL REVENUE $17,245,206

Expense Breakdown

Grants Paid $0

Salaries & Benefits $11,311,695

Fundraising Expenses $0

Program Expenses $15,658,329

Other Expenses $6,314,957

TOTAL EXPENSES $17,626,652

Year-over-Year Comparison

	2023	2022	Change
Revenue	$17,245,206	$14,366,418	+0.2%
Expenses	$17,626,652	$17,431,770	+0.0%
Net Income	$-381,446	$-3,065,352	-0.9%

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

329

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

$458,673

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NANCY PASCHALL	CHAIR	2.00	Officer Director	$0	$0	$0
WILLIAM CURRENT JR	VICE-CHAIR	2.00	Officer Director	$0	$0	$0
CAROL CARSTARPHEN	SECRETARY	2.00	Officer Director	$0	$0	$0
ROB COLLIS	TREASURER	2.00	Officer Director	$0	$0	$0
RICK CRAIG	DIRECTOR	2.00	Director	$0	$0	$0
H TIMOTHY EFIRD	DIRECTOR	2.00	Director	$0	$0	$0
CHRISTY GLIDDON	DIRECTOR	2.00	Director	$0	$0	$0
JOHN MCDONALD JR	DIRECTOR	2.00	Director	$0	$0	$0
ADRIAN MILLER	DIRECTOR	2.00	Director	$0	$0	$0
KELLY SHEDD MD	DIRECTOR	2.00	Director	$0	$0	$0
WES STYERS	DIRECTOR	2.00	Director	$0	$0	$0
REV LAUREN SEASE VANACORE	DIRECTOR	2.00	Director	$0	$0	$0
E DALE MELTON	CEO	40.00	Officer	$293,773	$37,208	$330,981
KIMBERLY KLING	SENIOR DIRECTOR OF FINANCE	40.00	Officer	$112,152	$15,540	$127,692
KEVIN STEWART	HEALTH CENTER ADMINISTRATO	40.00	Highest	$154,926	$21,688	$176,614
PAMELA PAIGE	SENIOR DIRECTOR OF MARKETI	40.00	Highest	$138,691	$21,816	$160,507
JENNIFER BARKER	SENIOR DIRECTOR OF HUMAN R	40.00	Highest	$117,010	$20,302	$137,312
STEPHANIE WELLMAN	DIRECTOR OF NURSING, RN	40.00	Highest	$109,265	$21,367	$130,632
RUSSELL CRAIG	SR. DIRECTOR, PROPERTY SER	40.00	Highest	$124,069	$3,669	$127,738

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	No data	No data	No data	No data
2024	$17,245,206	$17,626,652	$32,416,398	$-381,446
2023	$14,366,418	$17,431,770	$24,993,301	$-3,065,352
2022	$14,664,679	$14,303,592	$24,815,314	$361,087
2021	$15,543,339	$14,029,359	$23,561,338	$1,513,980
2020	$13,615,774	$13,380,159	$23,579,147	$235,615
2019	$12,405,828	$12,549,419	$21,898,549	$-143,591
2018	$11,696,678	$11,906,181	$21,000,186	$-209,503