Covenant Network

Analysis

Covenant Network is a registered charity in United States, based in Saint Louis, MO. It received its IRS tax-exemption ruling in May 1997, 29 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending April 2024, Covenant Network reported income of $2.1m and spending of $2.0m, spending 94% of its income. Across the 6 years on record, from April 2019 to April 2024, income grew from $1.7m to $2.1m (+23%), an average of +4.3% a year. The sharpest change came in the year to April 2021, when income rose by 72%. Over the whole period it spent 81% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Covenant Network sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within MO. Charities of a similar size with the same main cause include Catch the Fire Ministries Inc ($2.1m), Yeshiva Beth Abraham of Jerusalem Inc ($2.1m) and Cord Ministries International ($2.1m).

On its Form 990 for the period ending April 2024, revenue came from contributions and grants 89% and program service revenue 3.2% of the total. Compensation of current officers, directors and key employees was $156k (7.8% of expenses). Other salaries and wages came to $491k. At year end it held assets of $5.8m against liabilities of $1,288, net assets of $5.8m. It reported 12 employees.