Covenant Home

Analysis

Covenant Home is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in November 1943, 83 years ago. 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 2023, Covenant Home reported income of $5.8m and spending of $5.5m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $5.9m to $5.8m (-1.0%), an average of -0.2% a year. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Covenant Home sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within LA. Charities of a similar size with the same main cause include Beth Jacob High School Inc ($5.8m), Kaposia Inc ($5.8m) and Senior Neighbors Inc ($5.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.2% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $540k (9.8% of expenses). At year end it held assets of $6.0m against liabilities of $489k, net assets of $5.5m. It reported 86 employees.