Covenant Living of Colorado

Analysis

Covenant Living of Colorado is a registered charity in United States, based in Westminster, CO. It received its IRS tax-exemption ruling in July 1975, 51 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Covenant Living of Colorado reported income of $24.3m and spending of $23.9m, spending 98% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $14.3m to $24.3m (+70%), an average of +14% a year. The sharpest change came in the year to September 2020, when income rose by 62%. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Covenant Living of Colorado 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 98th percentile, and in the 98th percentile within CO. Charities of a similar size with the same main cause include Block Institute Inc ($24.3m), Family Service of Rhode Island Inc ($24.3m) and Biome Global Foundation ($24.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 2.0% and program service revenue 93% of the total. Other salaries and wages came to $7.6m. At year end it held assets of $63.8m against liabilities of $82.0m, net assets of -$18.2m. It reported 214 employees.