COVENANT ACO INC

EIN: 611573313 501(c)(3) Health Care

RENTON, WA

Total Revenue
$486,519
Total Expenses
$486,519
Total Assets
$5,890,648
Net Assets
$-843,479
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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
2007
Legal Domicile
TX
Principal Officer
WALTER CATHEY
Phone
8067250711
Tax Period
2023-01-01 to 2023-12-31

COVENANT ACO INC, founded in 2007, is a small nonprofit in the Health Care sector that reported $487K in total revenue in fiscal year 2023.

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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $486,519
Investment Income $0
Other Revenue $0
TOTAL REVENUE $486,519

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $330,720
Other Expenses $486,519
TOTAL EXPENSES $486,519

Year-over-Year Comparison

2023 2022 Change
Revenue $486,519 $511,909 0.0%
Expenses $486,519 $492,011 0.0%
Net Income $0 $19,898 -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

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Governance

Voting Members
18
Independent Members
3
Employees
N/A
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
6
$4,109,520
Total Directors
18
$8,017,212
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
NILESH PATEL MD BOARD MEMBER 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
RICHARD HENDERSON MD BOARD MEMBER 0.50
Director
$0 $87,076 $770,536
JEREMY DALTON MD BOARD MEMBER (PART YEAR) 0.50
Director
$0 $49,626 $655,838
CHETLEN CROSSNOE MD BOARD MEMBER/VICE CHAIR 1.00
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
Officer 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
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
ANGELA FERGUSON MD BOARD MEMBER 0.50
Director
$0 $39,955 $251,872
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
WALTER CATHEY CEO (PART YEAR) 18.00
Officer
$0 $203,418 $1,645,841
JOHN GRIGSON REGIONAL CFO - THRU 3/23 0.50
Officer
$0 $31,533 $1,057,577
MICHAEL ROBERTSON MD CEO - THRU 11/23 27.50
Officer
$0 $39,691 $525,865
ADAM SPIVEY CFO - THRU 11/23 14.00
Officer
$0 $30,940 $260,906
KATHLEEN BURRELL SECR./ASSOCIATE COUNSEL (PART YEAR) 7.00
Officer
$0 $31,334 $193,718
JAMES KELLY FRMR OFF. - VP SENIOR CORP COUNSEL 0.00
$0 $104,422 $808,682
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 $486,519 $486,519 $5,890,648 No data
2022 $511,909 $492,011 $2,847,235 $19,898
2021 $4,800 $8,575 $5,133,306 $-3,775
2020 $580,815 $1,137,753 $3,063,542 $-556,938
2019 $591,745 $1,150,799 $3,608,436 $-559,054
2018 $397,949 $773,413 $3,189,957 $-375,464
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