Covenant Recovery Inc

Analysis

Covenant Recovery Inc is a registered charity in United States, based in Pine Bluff, AR. It received its IRS tax-exemption ruling in October 2010, 16 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 December 2023, Covenant Recovery Inc reported income of $1.9m and spending of $2.0m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.7m to $1.9m (+15%), an average of +3.6% a year. The sharpest change came in the year to December 2023, when income rose by 28%. Over the whole period it spent 102% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Covenant Recovery Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within AR. Charities of a similar size with the same main cause include Housing for Homeless Inc ($1.9m), Sunnybrook Estates ($1.9m) and Ecumenical Shelter Network of Lake County Inc ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $194k (9.7% of expenses). Other salaries and wages came to $817k. At year end it held assets of $914k against liabilities of $254k, net assets of $659k. It reported 58 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.