Covenant Health System

Analysis

Covenant Health System is a registered charity in United States, based in Renton, WA. It received its IRS tax-exemption ruling in November 1998, 28 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Covenant Health System reported income of $101.7m and spending of $93.7m, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $89.5m to $101.7m (+14%), an average of +3.3% a year. The sharpest change came in the year to December 2023, when income dropped by 18%. Over the whole period it spent 93% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Covenant Health System sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within WA. Charities of a similar size with the same main cause include Washoe Barton Medical Clinic a Nevada Nonprofit Corporation ($101.5m), Brown Medicine ($101.7m) and Service Access and Management Inc ($101.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.8% and program service revenue 21% of the total. Other salaries and wages came to $26.4m. At year end it held assets of $251.5m against liabilities of $389.7m, net assets of -$138.2m. It reported 723 employees.