Covenant HomeCare

EIN: 621623114 501(c)(3) Health Care

Knoxville, TN

Total Revenue
$22,800,972
Total Expenses
$23,265,532
Total Assets
$3,413,244
Net Assets
$-1,989,733
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Financial Trends

Organization Details

Formation Year
1995
Legal Domicile
TN
Principal Officer
James D VanderSteeg
Phone
8653745329
Tax Period
2023-01-01 to 2023-12-31

Covenant HomeCare, founded in 1995, is a mid-sized nonprofit in the Health Care sector that reported $22.8M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

Covenant HomeCare provides quality healthcare, in alignment with Covenant Health's mission to serve the community by improving the quality of life through better health, regardless of the patient's ability to pay.

Program Service Accomplishments

Program 1
Expenses: $20,301,499 Revenue: $22,464,549

Covenant HomeCare provides services and treatment for patients who need to receive care in a home environment. Services consist of nursing, physical therapy, occupational therapy, speech therapy...

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Covenant HomeCare provides services and treatment for patients who need to receive care in a home environment. Services consist of nursing, physical therapy, occupational therapy, speech therapy, social services and care given by certified nursing assistants. Patients include those covered by Medicare, TennCare and commercial insurance, as well as self-pay patients. No patient is denied care because of an inability to pay. Applications for financial assistance are provided to patients who need them, and financial counselors are available to assist with the application process. Covenant HomeCare serves a 17-county region in East Tennessee. Covenant HomeCare served 5,497 patients in 2023 in the course of 83,345 patient visits.KARM Transitional Care was created through a partnership between Covenant HomeCare and Knox Area Rescue Ministries to provide a safe place for individuals experiencing homelessness to continue healing after a hospital stay. The goal is to improve patient outcomes through supervised continuity of care, ultimately reducing the patient's risk of developing subsequent illnesses or infections requiring additional hospital treatment. Funded by the Fort Sanders Foundation, this service helps fulfill Covenant Health's mission of improving the quality of life through better health in the communities we serve. Covenant HomeCare treated 35 patients in 2023. Covenant HomeCare provides hospice services which provide patient care and family support in the home environment during the patient's end stages of life. Services are provided to patients whose physicians have diagnosed them with a terminal disease that is expected to result in death within six months of being taken under care. The objective is to allow these patients to die at home with dignity. Services are provided in the home consist of nursing care, therapy, spiritual services and social services. Services are provided to patients covered by Medicare, TennCare and commercial insurance, as well as self-pay patients. No patient is denied care due to an inability to pay. Applications for financial assistance are provided to patients if needed, and financial counselors are available to assist with the application process. Covenant HomeCare served 1,250 hospice patients and made 20,151 visits in 2023.Covenant HomeCare and Hospice is proud to be a Level 5 Partner of We Honor Veterans. This program of the National Hospice and Palliative Care Organization (NHPCO), in collaboration with the Department of Veterans Affairs (VA), invites hospices, state hospice organizations, hospice-veteran partnerships and VA facilities to join a pioneering initiative focused on respectful inquiry, compassionate listening and grateful acknowledgment. By recognizing the unique needs of America's veterans and their families, community providers, in partnership with VA staff, learn how to accompany and guide them through their life stories toward a more peaceful ending.Palliative Care is a medical specialty focusing on the management of symptoms in patients with acute, chronic, or life threatening illness, regardless of the diagnosis. These symptoms might include, but are not limited to, pain, nausea, shortness of breath, fluid retention, etc. Palliative care strives to help patients better understand their treatment options and customizes treatments to meet individual needs. The goal is to promote the highest quality of life for patients and their families. Palliative care can be delivered any time during a patient's illness, including while receiving hospital care, and can be provided in conjunction with all other medical treatments. The Palliative Care team provided 8,430 visits in 2023. COVENANT HEALTH Covenant HomeCare is a member of Covenant Health. Covenant Health is a community-owned, clinically integrated healthcare enterprise dedicated to being the region's premier healthcar network through service, community and innovation. Our mission is to improve the quality of life in our region through better health. Established in 1996 by the consolidation of Fort Sanders Health System, Knoxville, Tennessee, and MMC HealthCare System in Oak Ridge, Covenant Health is governed by a voluntary board of directors comprised of community leaders and medical professionals. With more than 11,000 employees, affiliated physicians and volunteers, Covenant Health is the Knoxville area's largest employer and has been named a Best Employer multiple times by Forbes. Covenant Health includes nine acute care hospitals in East Tennessee: Fort Sanders Regional Medical Center and Parkwest Medical Center in Knoxville, Methodist Medical Center of Oak Ridge, Fort Loudoun Medical Center in Lenoir City, LeConte Medical Center in Sevierville, Morristown-Hamblen Healthcare System in Morristown, Roane Medical Center in Harriman, Claiborne Medical Center in Tazewell and Cumberland Medical Center in Crossville. It also includes Peninsula, a division of Parkwest Medical Center, a behavioral health hospital in Blount County, Tennessee. The health system also includes Covenant Medical Group, which includes more than 200 physicians and advanced practice clinicians in office locations throughout East Tennessee.Affiliated organizations include Thompson Cancer Survival Center, Thompson Oncology Group, Fortress Corporation and Subsidiaries, Covenant HomeCare, and Fort Sanders Perinatal Center. Philanthropic organizations include Fort Sanders Foundation and the Thompson Cancer Survival Center Foundation in Knoxville, Methodist Medical Center Foundation in Oak Ridge, Dr. Robert F. Thomas Foundation in Sevierville, and Morristown-Hamblen Hospital Foundation in Morristown. Funds raised by the foundations provide services, equipment and other resources for excellence in patient care.Covenant HomeCare, as a member of the Covenant Health system, benefits from the collaboration among all affiliated organizations to promote quality improvement, patient safety and efficient delivery of care for the communities served.

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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 $315,119
Program Service Revenue $22,464,549
Investment Income $21,304
Other Revenue $0
TOTAL REVENUE $22,800,972

Expense Breakdown

Grants Paid $350
Salaries & Benefits $17,783,161
Fundraising Expenses $0
Program Expenses $20,301,499
Other Expenses $5,482,021
TOTAL EXPENSES $23,265,532

Year-over-Year Comparison

2023 2022 Change
Revenue $22,800,972 $20,781,294 +0.1%
Expenses $23,265,532 $22,797,414 +0.0%
Net Income $-464,560 $-2,016,120 -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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Governance

Voting Members
22
Independent Members
21
Employees
254
Volunteers
109

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
$5,025,362
Total Directors
23
$3,135,371
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Gerald Boyd Director 0.00
Director
$0 $0 $977
Willard Campbell MD Director 0.00
Director
$0 $0 $0
Michael Casey MD Director 0.00
Director
$0 $0 $0
Ronni Chandler Fmr Director (through June 2023) 0.00
Director
$0 $0 $0
Mitchell Dickson MD Director 0.00
Director
$0 $0 $796
Stephanie Flood Director 0.00
Director
$0 $0 $808
James Gibson Director 0.00
Director
$0 $0 $1,008
Edgar Gray Director 0.00
Director
$0 $0 $1,054
Leslye Hartsell Director 0.00
Director
$0 $0 $1,027
Donald Hickman Director 0.00
Director
$0 $0 $1,498
Timothy Matthews Director 0.00
Director
$0 $0 $1,196
Janice McKinley Director 0.00
Director
$0 $0 $1,222
Dave Miller Director 0.00
Director
$0 $0 $1,044
Bill Myers Director 0.00
Director
$0 $0 $0
Alvin Nance Director 0.00
Director
$0 $0 $1,044
Linda Ogle Director 0.00
Director
$0 $0 $0
King Purnell Director/Chair 0.00
Officer Director
$0 $0 $1,630
Jorge Sanabria Director 0.00
Director
$0 $0 $1,234
William Seale Director 0.00
Director
$0 $0 $1,321
Cosby Stone Director 0.00
Director
$0 $0 $1,595
Joe Sutter Director 0.00
Director
$0 $0 $1,462
James Tramontana MD Director 0.00
Director
$0 $0 $1,196
James D VanderSteeg President & CEO 0.00
Officer Director
$0 $352,568 $3,115,259
John T Geppi Fmr EVP/CFO (through June 2023) 0.00
Officer
$0 $24,345 $995,771
Joseph C Dolan EVP/CFO 0.00
Officer
$0 $38,564 $397,454
Mitzi F Anderson VP - Financial Services 8.00
Officer
$0 $27,391 $173,002
John L Huskey President & CAO 50.00
Officer
$302,962 $39,284 $342,246
Erin E Kipp Medical Director 50.00
Highest
$304,876 $11,191 $316,067
Mary Seal Rehab Therapy Asst 50.00
Highest
$115,840 $16,226 $132,066
Gina W Hollenbeck Director HomeCare Hospice 50.00
Highest
$109,509 $29,466 $138,975
Pamela S Kirkland Clinical Supervisor 50.00
Highest
$106,917 $35,470 $142,387
Stephen J Sexton Occupational Therapist 50.00
Highest
$105,358 $36,618 $141,976
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 $22,800,972 $23,265,532 $3,413,244 $-464,560
2022 $20,781,294 $22,797,414 $2,738,390 $-2,016,120
2021 $17,855,047 $19,637,169 $2,451,607 $-1,782,122
2020 $18,602,209 $18,549,675 $3,407,115 $52,534
2019 $17,040,461 $17,191,257 $3,040,786 $-150,796
2018 $15,000,872 $15,937,333 $2,902,513 $-936,461
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