Covenant Living at Shannondale

Analysis

Covenant Living at Shannondale is a registered charity in United States, based in Knoxville, TN. It received its IRS tax-exemption ruling in August 1965, 61 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 Living at Shannondale reported income of $28.9m and spending of $41.0m, spending 142% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $33.7m to $28.9m (-14%), an average of -3.7% a year. Over the whole period it spent 121% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Covenant Living at Shannondale sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within TN. Charities of a similar size with the same main cause include Bethany Christian Services Inc ($28.9m), Community Village Inc ($29.0m) and Mennonite Home of Albany Inc ($28.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.2% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $545k (1.3% of expenses). Other salaries and wages came to $15.5m. At year end it held assets of $95.9m against liabilities of $122.0m, net assets of -$26.0m. It reported 611 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.