Covenant Community Capital Corporation

Analysis

Covenant Community Capital Corporation is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in October 2000, 26 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Covenant Community Capital Corporation reported income of $2.3m and spending of $2.4m, spending 105% of its income. Across the 6 years on record, from December 2018 to December 2023, income fell from $4.7m to $2.3m (-51%), an average of -13% a year. The sharpest change came in the year to December 2021, when income dropped by 33%. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Covenant Community Capital Corporation sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 90th percentile within TX. Charities of a similar size with the same main cause include Rural Electric Economic Development Inc ($2.3m), Operating Engineers Apprshp & Skill Improvement Committee for Cent Il ($2.3m) and Johnstown Industrial Development Corporation ($2.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 29% and program service revenue 69% of the total. Compensation of current officers, directors and key employees was $98k (4.1% of expenses). Other salaries and wages came to $348k. At year end it held assets of $8.3m against liabilities of $3.0m, net assets of $5.3m. It reported 9 employees.