COVENANT LIVING OF COLORADO 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

1988

Legal Domicile

Principal Officer

DAVID ERICKSON

Phone

3034244828

Tax Period

2023-10-01 to 2024-09-30

COVENANT LIVING OF COLORADO INC, founded in 1988, is a mid-sized nonprofit in the Human Services sector that reported $25.4M in total revenue in fiscal year 2023. Expenses of $24.5M left a modest 3% surplus.

Mission

AS A MINISTRY OF THE EVANGELICAL COVENANT CHURCH, COVENANT LIVING COMMUNITIES AND SERVICES CELEBRATES GOD'S GIFT OF LIFE IN CHRISTIAN COMMUNITY. WE FOLLOW THE GREAT COMMANDMENT TO LOVE AND SERVE GOD AND ONE ANOTHER AS TAUGHT BY JESUS CHRIST. (SEE SCHEDULE O)

Program Service Accomplishments

Program 1

Expenses: $8,698,387 Revenue: $12,970,652

RESIDENTIAL LIVING:THE NUMBER OF PERSONS WHO BENEFITED FROM THE SERVICES WE PROVIDED FOR THE YEAR ENDED SEPTEMBER 30, 2024 WERE AS FOLLOWS:THERE WERE A TOTAL OF 298 RESIDENTS OCCUPYING 231 APARTMENTS...

Program 2

Expenses: $2,081,544 Revenue: $2,725,682

ASSISTED LIVING:THE NUMBER OF PERSONS WHO BENEFITED FROM THE SERVICES WE PROVIDED FOR THE YEAR ENDED SEPTEMBER 30, 2024 WERE AS FOLLOWS:THERE WERE A TOTAL OF 39 ASSISTED LIVING RESIDENTS AT...

ASSISTED LIVING:THE NUMBER OF PERSONS WHO BENEFITED FROM THE SERVICES WE PROVIDED FOR THE YEAR ENDED SEPTEMBER 30, 2024 WERE AS FOLLOWS:THERE WERE A TOTAL OF 39 ASSISTED LIVING RESIDENTS AT 09/30/2024. ASSISTED LIVING RESIDENCY FOR THE FISCAL YEAR TOTALED 13,299 RESIDENT DAYS.

Program 3

Expenses: $7,035,884 Revenue: $8,676,047

SKILLED NURSING & SKILLED DEMENTIA:THE NUMBER OF PERSONS WHO BENEFITED FROM THE SERVICES WE PROVIDED FOR THE YEAR ENDED SEPTEMBER 30, 2024 WERE AS FOLLOWS:THERE WERE A TOTAL OF 49 SKILLED AND LONG...

SKILLED NURSING & SKILLED DEMENTIA:THE NUMBER OF PERSONS WHO BENEFITED FROM THE SERVICES WE PROVIDED FOR THE YEAR ENDED SEPTEMBER 30, 2024 WERE AS FOLLOWS:THERE WERE A TOTAL OF 49 SKILLED AND LONG TERM RESIDENTS AT 09/30/2024. SKILLED AND LONG TERM RESIDENCY FOR THE FISCAL YEAR TOTALED 19,537 RESIDENT DAYS.

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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 $418,707

Program Service Revenue $24,066,937

Investment Income $601,484

Other Revenue $305,444

TOTAL REVENUE $25,392,572

Expense Breakdown

Grants Paid $0

Salaries & Benefits $10,249,057

Fundraising Expenses $130,213

Program Expenses $17,815,815

Other Expenses $14,269,501

TOTAL EXPENSES $24,518,558

Year-over-Year Comparison

	2023	2022	Change
Revenue	$25,392,572	$24,320,973	+0.0%
Expenses	$24,518,558	$23,927,520	+0.0%
Net Income	$874,014	$393,453	+1.2%

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

361

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

$3,161,302

Total Directors

$2,095,747

Key Employees

$931,009

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALLAN ANDERSON	DIRECTOR	0.10	Director	$0	$0	$0
ANDREW VANOVER	DIRECTOR	0.10	Director	$0	$0	$0
ARTHUR DEROOY	DIRECTOR/EX-OFFICIO - PART YEAR	0.10	Director	$0	$0	$0
DAVID G ERICKSON	GEN COUNSEL PART YR/ASST SEC/CEO	1.00	Officer Director	$0	$122,066	$554,672
DIXIE REPPE	DIRECTOR - PART YEAR	0.10	Director	$0	$0	$0
JANET CREANEY	DIRECTOR/CHAIR	0.10	Officer Director	$0	$0	$0
JANET GOELZ HOFFMAN	DIRECTOR/SECRETARY	0.10	Officer Director	$0	$0	$0
JENNIFER MEANS	DIRECTOR	0.10	Director	$0	$0	$0
JOHN FREDRICKSON	DIRECTOR	0.10	Director	$0	$0	$0
KATHY BUETTNER	DIRECTOR	0.10	Director	$0	$0	$0
KURT KINCANON	DIRECTOR	0.10	Director	$0	$0	$0
LOANN PETERSON	DIRECTOR - PART YEAR	0.10	Director	$0	$0	$0
LORENE FLEWELLEN	DIRECTOR/VICE CHAIR	0.10	Officer Director	$0	$0	$0
MARY PALMER	DIRECTOR/EX-OFFICIO	0.10	Director	$0	$0	$0
MATTHEW MANLOVE	DIRECTOR	0.10	Director	$0	$0	$0
PAMELA CHRISTENSEN	DIRECTOR	0.10	Director	$0	$0	$0
RICK SHEPARD	DIRECTOR	0.10	Director	$0	$0	$0
ROBERT MARTIN	DIRECTOR	0.10	Director	$0	$0	$0
SARAH BENTLEY	DIRECTOR	0.10	Director	$0	$0	$0
TAMMY SWANSON-DRAHEIM	DIRECTOR/EX-OFFICIO	0.10	Director	$0	$105,500	$214,141
TERRI S CUNLIFFE	DIRECTOR/CLCS PRESIDENT/CEO-PART YR	1.00	Officer Director	$0	$33,657	$961,812
TODD SLECHTA	DIRECTOR/EX-OFFICIO	0.10	Director	$0	$59,996	$365,122
CORY KALLHEIM	GENERAL COUNSEL/ASST SECRETARY	1.00	Officer	$0	$70,455	$325,787
EMILY WARNYGORA	SR. EXEC. ASST TO CEO/ASST SECRETARY	1.00	Officer	$0	$13,095	$108,766
JAY PRINCE	SVP, COMMUNITY OPS/ASST SECRETARY	1.00	Officer	$0	$24,248	$235,346
JEAN E JUSTIE	CFO/TREASURER/ASST SECRETARY	1.00	Officer	$0	$90,531	$550,215
WILLIAM RABE	CHIEF INFO & TECH OFFICER/ASST SEC.	1.00	Officer	$0	$60,892	$424,704
PETER MILBOURN	ASSOCIATE VICE PRESIDENT, OPERATIONS	1.00	Key Emp	$0	$59,223	$331,456
ROBERT BAKER	EXECUTIVE DIRECTOR	40.00	Key Emp	$208,069	$20,880	$228,949
TANDERIA BROWN	CHIEF HUMAN RESOURCES OFFICER	1.00	Key Emp	$0	$65,889	$370,604
ANNA SECHRIST	DIRECTOR OF SALES	40.00	Highest	$138,916	$23,792	$162,708
DEBBIE SKINNER	NURSE, RN	40.00	Highest	$130,573	$14,851	$145,424
GARRY HINDERLITER	DIRECTOR OF HUMAN RESOURCES	40.00	Highest	$128,268	$35,571	$163,839
JARED KONKLE	NURSING SUPERVISOR, RN	40.00	Highest	$123,459	$14,612	$138,071
JENNA BUTTERFIELD	HEALTHCARE ADMINISTRATOR	40.00	Highest	$132,495	$18,200	$150,695
CORY STERN	FORMER INTERIM FINANCE LEAD/TREAS.	0.00		$0	$34,904	$268,486

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	$25,392,572	$24,518,558	$66,242,379	$874,014
2023	$24,320,973	$23,927,520	$63,762,892	$393,453
2022	$22,182,934	$23,588,707	$64,640,717	$-1,405,773
2021	$21,261,288	$22,494,902	$64,362,379	$-1,233,614
2020	$23,186,545	$21,844,930	$62,423,841	$1,341,615
2019	$20,021,941	$20,053,798	$59,475,149	$-31,857