Covenant Neighborhoods Inc

Analysis

Covenant Neighborhoods Inc is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in May 2007, 19 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 2022, Covenant Neighborhoods Inc reported income of $981k and spending of $477k, leaving 51% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $625k to $981k (+57%), an average of +16% a year. The sharpest change came in the year to December 2021, when income rose by 732%. Over the whole period it spent 37% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Covenant Neighborhoods Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 83rd percentile within TX. Charities of a similar size with the same main cause include Souls Harbor Inc ($980k), Champions Community Foundation Inc ($981k) and Domestic Abuse Support Center of Shawano County Inc ($980k).

On its Form 990 for the period ending December 2022, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $211k (44% of expenses). At year end it held assets of $18.7m against liabilities of $13.1m, net assets of $5.6m. It reported 1 employees.