Covenant College Foundation Inc

Analysis

Covenant College Foundation Inc is a registered charity in United States, based in Lookout MTN, GA. It received its IRS tax-exemption ruling in November 2010, 16 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Covenant College Foundation Inc reported income of $1.9m and spending of $981k, leaving 49% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.9m to $1.9m (-33%), an average of -9.5% a year. The sharpest change came in the year to June 2021, when income rose by 75%. Over the whole period it spent 36% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Covenant College Foundation Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 88th percentile within GA. Charities of a similar size with the same main cause include Turley Foundation Inc ($1.9m), Great Shape Inc ($1.9m) and Veterans Guest House Inc ($1.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 87% of the total. At year end it held assets of $20.2m against liabilities of $49, net assets of $20.2m.