Covenant Aco Inc

Analysis

Covenant Aco Inc is a registered charity in United States, based in Renton, WA. It received its IRS tax-exemption ruling in December 2009, 17 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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 December 2023, Covenant Aco Inc reported income of $487k and spending of $487k, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $592k to $487k (-18%), an average of -4.8% a year. The sharpest change came in the year to December 2022, when income rose by 10565%. Over the whole period it spent 151% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Covenant Aco Inc sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 68th percentile within WA. Charities of a similar size with the same main cause include McArc Foundation ($487k), Carolina Pregnancy Center ($487k) and House of Ruth Pregnancy Care Center Inc ($486k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $5.9m against liabilities of $6.7m, net assets of -$843k.