Covenant Kids Inc

Analysis

Covenant Kids Inc is a registered charity in United States, based in Arlington, TX. It received its IRS tax-exemption ruling in July 2003, 23 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 Kids Inc reported income of $23.2m and spending of $23.2m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $19.0m to $23.2m (+22%), an average of +5.0% a year. The sharpest change came in the year to December 2020, when income rose by 18%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Covenant Kids Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within TX. Charities of a similar size with the same main cause include McBride Quality Care Services Inc ($23.2m), Appalachian Agency for Senior Citizens ($23.2m) and Luther Home of Mercy ($23.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.4% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $398k (1.7% of expenses). Other salaries and wages came to $9.8m. At year end it held assets of $9.5m against liabilities of $2.9m, net assets of $6.5m. It reported 320 employees.