Covenant Endowment Fund

Analysis

Covenant Endowment Fund is a registered charity in United States, based in Charlottesvle, VA. It received its IRS tax-exemption ruling in September 2006, 20 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Covenant Endowment Fund reported income of $51k and spending of $30k, leaving 41% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $18k to $51k (+191%), an average of +31% a year. The sharpest change came in the year to June 2021, when income rose by 306%. Over the whole period it spent 68% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Covenant Endowment Fund sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 19th percentile within VA. Charities of a similar size with the same main cause include Kiski Area Education Foundation Inc ($51k), California Association of Colleges of Nursing ($51k) and Chris Boes Foundation ($51k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 48% of the total. At year end it held assets of $613k against liabilities of $0, net assets of $613k.