COVENANT HOSPICE INC (EIN 592208300) - 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

1981

Legal Domicile

Principal Officer

MICHAEL HITCHCOCK

Phone

8504332155

Tax Period

2023-01-01 to 2023-12-31

COVENANT HOSPICE INC, founded in 1981, is a mid-sized nonprofit in the Human Services sector that reported $56.1M in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year. Expenses of $49.6M left a modest 12% surplus.

Mission

COVENANT HOSPICE IS DEDICATED TO PROVIDING COMPREHENSIVE, COMPASSIONATE SERVICES TO PATIENTS AND THEIR LOVED ONES DURING TIMES OF LIFE-LIMITING ILLNESSES.

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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 $1,014,527

Program Service Revenue $54,954,827

Investment Income $120,133

Other Revenue $26,134

TOTAL REVENUE $56,115,621

Expense Breakdown

Grants Paid $0

Salaries & Benefits $29,578,945

Fundraising Expenses $0

Program Expenses $30,751,149

Other Expenses $19,986,531

TOTAL EXPENSES $49,565,476

Year-over-Year Comparison

	2023	2022	Change
Revenue	$56,115,621	$62,239,514	-0.1%
Expenses	$49,565,476	$22,039,071	+1.2%
Net Income	$6,550,145	$40,200,443	-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

365

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

$1,576,159

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RODNEY GUTTMANN	CHAIRMAN	4.00	Officer Director	$0	$0	$0
TOM OWENS	PAST CHAIR	4.00	Officer Director	$0	$0	$0
BRETT PARRA	SECRETARY	4.00	Officer Director	$0	$0	$0
KENT SKOLROOD	TREASURER	4.00	Officer Director	$0	$0	$0
DICK APPLEYARD	BOARD MEMBER	4.00	Director	$0	$0	$0
JAMES JAMIE CAMPBELL	BOARD MEMBER	4.00	Director	$0	$0	$0
MILLER CALDWELL	BOARD MEMBER	4.00	Director	$0	$0	$0
PETER JENNINGS	BOARD MEMBER	4.00	Director	$0	$0	$0
STEVE SARROS	BOARD MEMBER	4.00	Director	$0	$0	$0
JEFFREY M MISLEVY	PRESIDENT/CEO	40.00	Officer	$0	$43,000	$1,025,335
ROLAND CLENEAY	CFO	40.00	Officer	$0	$41,635	$550,824
AARON WEST	VP ADVANCEMENT	40.00	Highest	$0	$31,837	$351,221
STEVEN DONCHEY	CMO, SENIOR VP	40.00	Highest	$0	$15,472	$330,492
KRISTEN MCGEHEE	COO	40.00	Highest	$0	$29,315	$385,601
STEPHENE GARNETT	VP ADMINISTRATION	40.00	Highest	$0	$23,315	$239,300
BRIAN TIEMAN	CPO	40.00	Highest	$0	$52,500	$419,006

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	$56,115,621	$49,565,476	$80,283,432	$6,550,145
2022	$62,239,514	$55,379,775	$80,329,665	$6,859,739
2021	$64,777,172	$53,909,904	$77,009,702	$10,867,268
2020	$60,261,416	$53,179,029	$76,995,394	$7,082,387
2019	$55,953,596	$53,389,365	$66,075,307	$2,564,231
2018	$60,086,059	$56,539,793	$58,835,656	$3,546,266

COVENANT HOSPICE INC