Covenant Home

Analysis

Covenant Home is a registered charity in United States, based in Northbrook, IL. It received its IRS tax-exemption ruling in July 1975, 51 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Covenant Home reported income of $22.6m and spending of $16.4m, leaving 27% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $12.2m to $22.6m (+86%), an average of +17% a year. The sharpest change came in the year to September 2020, when income rose by 61%. Over the whole period it spent 88% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Covenant Home 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 Methodist Home for Children Inc ($22.6m), Little Friends Inc ($22.7m) and Smith Agency ($22.6m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.3% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $405k (2.5% of expenses). Other salaries and wages came to $3.3m. At year end it held assets of $204.7m against liabilities of $177.5m, net assets of $27.2m. It reported 360 employees.