Wesleyan Covenant Association

Analysis

Wesleyan Covenant Association is a registered charity in United States, based in The Woodlands, TX. It received its IRS tax-exemption ruling in May 2018, 8 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 June 2023, Wesleyan Covenant Association reported income of $1.2m and spending of $1.1m, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $913k to $1.2m (+26%), an average of +6.0% a year. The sharpest change came in the year to June 2021, when income rose by 43%. Over the whole period it spent 97% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Wesleyan Covenant Association sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 85th percentile within TX. Charities of a similar size with the same main cause include Bethany Center for Prayer and Renewal Inc ($1.2m), Merkos L Inyounei Chinuch Lubavitch of Indiana Inc ($1.2m) and Grace House Ministries ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $217k (20% of expenses). Other salaries and wages came to $137k. At year end it held assets of $407k against liabilities of $114k, net assets of $293k. It reported 8 employees.