Covenant Home Services

Analysis

Covenant Home Services is a registered charity in United States, based in Skokie, IL. It received its IRS tax-exemption ruling in April 2024, 2 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 September 2023, Covenant Home Services reported income of $17.3m and spending of $16.6m, spending 96% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $11.7m to $17.3m (+48%), an average of +10% a year. The sharpest change came in the year to September 2020, when income rose by 54%. Over the whole period it spent 95% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Covenant Home Services sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within IL. Charities of a similar size with the same main cause include Christian Living Communities ($17.3m), Masonic Home Independent Living II Inc ($17.3m) and Neville Communities Home Inc ($17.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 1.5% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $436k (2.6% of expenses). Other salaries and wages came to $9.5m. At year end it held assets of $4.4m against liabilities of $9.2m, net assets of -$4.8m. It reported 266 employees.