Covenant Village Inc

Analysis

Covenant Village Inc is a registered charity in United States, based in Gastonia, NC. It received its IRS tax-exemption ruling in April 1980, 46 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 September 2023, Covenant Village Inc reported income of $14.4m and spending of $17.4m, spending 121% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $12.4m to $14.4m (+16%), an average of +3.7% a year. Over the whole period it spent 102% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Covenant Village Inc 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 96th percentile, and in the 97th percentile within NC. Charities of a similar size with the same main cause include Home for Aged Women Inc ($14.4m), Loretto Adult Community Inc ($14.4m) and Gateway Community Industries Inc ($14.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.3% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $227k (1.3% of expenses). Other salaries and wages came to $9.0m. At year end it held assets of $25.0m against liabilities of $17.6m, net assets of $7.4m. It reported 312 employees.