COVENANT LIVING WEST

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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

1975

Legal Domicile

Principal Officer

DAVID ERICKSON

Phone

8056870701

Tax Period

2023-10-01 to 2024-09-30

COVENANT LIVING WEST, founded in 1975, is a major nonprofit in the Human Services sector that reported $133.0M in total revenue in fiscal year 2023. Expenses of $126.6M left a modest 5% 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: $39,781,550 Revenue: $59,558,463

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 1,067 RESIDENTS OCCUPYING 846 APARTMENTS AS OF...

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 1,067 RESIDENTS OCCUPYING 846 APARTMENTS AS OF 9/30/24. THE RESIDENCY FOR THE FISCAL YEAR TOTALED 390,481 RESIDENT DAYS.

Program 2

Expenses: $13,458,080 Revenue: $16,258,196

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 155 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 155 ASSISTED LIVING RESIDENTS AT 09/30/2024. ASSISTED LIVING RESIDENCY FOR THE FISCAL YEAR TOTALED 56,520 RESIDENT DAYS.ASSISTED LIVING MEMORY SUPPORT: 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 34 ASSISTED LIVING MEMORY SUPPORT RESIDENTS AT 09/30/2024. ASSISTED LIVING MEMORY SUPPORT RESIDENCY FOR THE FISCAL YEAR TOTALED 11,876 RESIDENT DAYS.

Program 3

Expenses: $40,969,158 Revenue: $43,353,806

SKILLED NURSING: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 218 SKILLED CARE RESIDENTS AT 09/30/24...

SKILLED NURSING: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 218 SKILLED CARE RESIDENTS AT 09/30/24. SKILLED CARE RESIDENCY FOR THE FISCAL YEAR TOTALED 93,730 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 $5,411,991

Program Service Revenue $117,138,837

Investment Income $8,245,546

Other Revenue $2,208,066

TOTAL REVENUE $133,004,440

Expense Breakdown

Grants Paid $62,188

Salaries & Benefits $57,518,111

Fundraising Expenses $402,134

Program Expenses $94,208,788

Other Expenses $68,995,115

TOTAL EXPENSES $126,575,414

Year-over-Year Comparison

	2023	2022	Change
Revenue	$133,004,440	$136,714,805	0.0%
Expenses	$126,575,414	$128,477,391	0.0%
Net Income	$6,429,026	$8,237,414	-0.2%

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

1409

Volunteers

249

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

$1,752,562

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TERRI S CUNLIFFE	DIRECTOR/CLCS PRESIDENT/CEO-PART YR	1.00	Officer Director	$0	$33,657	$961,812
DAVID G ERICKSON	GEN COUNSEL PART YR/ASST SEC/CEO	1.00	Officer Director	$0	$122,066	$554,672
TODD SLECHTA	DIRECTOR/EX-OFFICIO	0.10	Director	$0	$59,996	$365,122
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
TANDERIA BROWN	CHIEF HUMAN RESOURCES OFFICER	1.00	Key Emp	$0	$65,889	$370,604
PETER MILBOURN	ASSOCIATE VICE PRESIDENT, OPERATIONS	5.00	Key Emp	$0	$59,223	$331,456
CORY KALLHEIM	GENERAL COUNSEL/ASST SECRETARY	1.00	Officer	$0	$70,455	$325,787
LINDA PEREZ	EXECUTIVE DIRECTOR	40.00	Key Emp	$250,838	$44,785	$295,623
RYAN HUST	EXECUTIVE DIRECTOR	40.00	Key Emp	$214,609	$61,698	$276,307
CORY STERN	FORMER INTERIM FINANCE LEAD/TREAS.	0.00		$0	$34,904	$268,486
DANIEL SCANSEN	EXECUTIVE DIRECTOR	40.00	Key Emp	$227,155	$23,053	$250,208
JAY PRINCE	SVP, COMMUNITY OPS/ASST SECRETARY	1.00	Officer	$0	$24,248	$235,346
BRIAN MCBEE	EXECUTIVE DIRECTOR	40.00	Key Emp	$208,040	$20,324	$228,364
SCOTT BIGLER	ASSOCIATE EXECUTIVE DIRECTOR	40.00	Highest	$181,991	$43,311	$225,302
CRISTIN WHITTAKER	HEALTHCARE ADMINISTRATOR	40.00	Highest	$199,120	$19,262	$218,382
TAMMY SWANSON-DRAHEIM	DIRECTOR/EX-OFFICIO	0.10	Director	$0	$105,500	$214,141
RACHAEL GERDIS	HEALTHCARE ADMINISTRATOR	40.00	Highest	$166,140	$43,418	$209,558
DARLA LORENZEN	HEALTHCARE ADMINISTRATOR	40.00	Highest	$170,028	$28,112	$198,140
ANNA LEILA ANTONIO	HEALTHCARE ADMINISTRATOR	40.00	Highest	$163,214	$27,365	$190,579
EMILY WARNYGORA	SR. EXEC. ASST TO CEO/ASST SECRETARY	1.00	Officer	$0	$13,095	$108,766
JANET CREANEY	DIRECTOR/CHAIR	0.10	Officer Director	$0	$0	$0
LORENE FLEWELLEN	DIRECTOR/VICE CHAIR	0.10	Officer Director	$0	$0	$0
JANET GOELZ HOFFMAN	DIRECTOR/SECRETARY	0.10	Officer Director	$0	$0	$0
ALLAN ANDERSON	DIRECTOR	0.10	Director	$0	$0	$0
SARAH BENTLEY	DIRECTOR	0.10	Director	$0	$0	$0
KATHY BUETTNER	DIRECTOR	0.10	Director	$0	$0	$0
PAMELA CHRISTENSEN	DIRECTOR	0.10	Director	$0	$0	$0
ARTHUR DEROOY	DIRECTOR/EX-OFFICIO - PART YEAR	0.10	Director	$0	$0	$0
JOHN FREDRICKSON	DIRECTOR	0.10	Director	$0	$0	$0
KURT KINCANON	DIRECTOR	0.10	Director	$0	$0	$0
MATTHEW MANLOVE	DIRECTOR	0.10	Director	$0	$0	$0
ROBERT MARTIN	DIRECTOR	0.10	Director	$0	$0	$0
JENNIFER MEANS	DIRECTOR	0.10	Director	$0	$0	$0
MARY PALMER	DIRECTOR/EX-OFFICIO	0.10	Director	$0	$0	$0
LOANN PETERSON	DIRECTOR - PART YEAR	0.10	Director	$0	$0	$0
DIXIE REPPE	DIRECTOR - PART YEAR	0.10	Director	$0	$0	$0
RICK SHEPARD	DIRECTOR	0.10	Director	$0	$0	$0
ANDREW VANOVER	DIRECTOR	0.10	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	$133,004,440	$126,575,414	$439,387,136	$6,429,026
2023	$136,714,805	$128,477,391	$406,388,231	$8,237,414
2022	$126,747,759	$124,146,440	$394,707,058	$2,601,319
2021	$122,340,145	$127,182,977	$414,845,282	$-4,842,832
2020	$123,006,853	$116,401,166	$412,786,614	$6,605,687
2019	$112,955,280	$104,511,521	$399,742,748	$8,443,759