Covenant House

Analysis

Covenant House is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in March 1973, 53 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Covenant House reported income of $88.3m and spending of $93.5m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $70.5m to $88.3m (+25%), an average of +5.8% a year. The sharpest change came in the year to June 2022, when income rose by 77%. Over the whole period it spent 85% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Covenant House sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within NY. Charities of a similar size with the same main cause include Springbrook Ny Inc ($88.3m), Humangood Pennsylvania ($88.3m) and Jewish Family Service of Los Angeles ($87.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 1.0% of the total. Compensation of current officers, directors and key employees was $2.2m (2.3% of expenses). Other salaries and wages came to $14.2m. It paid $220k in professional fundraising fees. At year end it held assets of $154.7m against liabilities of $26.7m, net assets of $128.0m. It reported 130 employees.