Covenant Health Inc

Analysis

Covenant Health Inc is a registered charity in United States, based in Andover, MA. It received its IRS tax-exemption ruling in March 1946, 80 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Covenant Health Inc reported income of $78.5m and spending of $74.2m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $73.5m to $78.5m (+6.8%), an average of +1.7% a year. Over the whole period it spent 98% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Covenant Health Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MA. Charities of a similar size with the same main cause include Val Verde Hospital Corporation ($78.5m), Northeast Health Partners ($78.5m) and Infirmary Health System Inc ($78.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.3% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $3.9m (5.2% of expenses). Other salaries and wages came to $13.9m. At year end it held assets of $364.1m against liabilities of $256.5m, net assets of $107.7m. It reported 230 employees.