COVENANT CHARITIES FOUNDATION (EIN 872144589) - 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

2021

Legal Domicile

Principal Officer

KRISTEN M LEWIS

Phone

4042520100

Tax Period

2024-01-01 to 2024-12-31

COVENANT CHARITIES FOUNDATION, founded in 2021, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $4.5M in total revenue in fiscal year 2024. Revenue surged 6459% from the prior year, signaling strong growth momentum. Expenses of $8.1M exceeded revenue, resulting in a 80% operating deficit.

Mission

TO PROVIDE FUNDING TO CHARITIES IN FULFILLMENT OF THE EXEMPT PURPOSES OF NCCF.

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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 (2024)

Revenue Breakdown

Contributions & Grants $3,617,654

Program Service Revenue $0

Investment Income $867,340

Other Revenue $4,956

TOTAL REVENUE $4,489,950

Expense Breakdown

Grants Paid $8,059,586

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $8,059,586

Other Expenses $2,167

TOTAL EXPENSES $8,061,753

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,489,950	$68,456	+64.6%
Expenses	$8,061,753	$59,696	+134.0%
Net Income	$-3,571,803	$8,760	-408.7%

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

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

Total Directors

$217,679

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
REBECCA BROADFOOT CULLUM	TRUSTEE	1.00	Director	$0	$0	$0
KRISTEN M LEWIS	TRUSTEE	1.00	Director	$0	$21,408	$217,679
ROBERT H ALPERT	TRUSTEE	1.00	Director	$0	$0	$0

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	$4,489,950	$8,061,753	$10,225,943	$-3,571,803
2023	$68,456	$59,696	$12,846,225	$8,760
2022	$286,564	$199,998	$12,080,133	$86,566
2021	$12,269,118	$4,488	$12,269,770	$12,264,630

COVENANT CHARITIES FOUNDATION