Covenant Medical Center
Also known as See Schedule O for List
Covenant Medical Center reported $436.4 million in revenue and $406.6 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $88.13 went to program services, $11.87 to management and general costs and $0.00 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 97.8% of the total. The highest compensation it reported for one person was $1,931,294 (DIRECTOR AS OF 1/25; PRES CENTRAL IA). 310 people received more than $100,000 in reportable compensation. Revenue rose 41% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $407MFor context, the median across 5,634 covered health care charities: $86.19 programs, $13.81 management, $0.00 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $436MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 88.1% | 85.6% |
| Management & general Part IX 25(C) ÷ 25(A) | 11.9% | 13.7% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 0.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.00 | $0.00 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 0.4% | 1.3% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.2% | 0.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 97.8% | 93.7% |
| Highest reported compensation Part VII-A, columns D–F | $1,931,294 | $975,831 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.48% | 1.34% |
| People paid over $100,000 Part VII, line 2 | 310 | 27 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 6.4 | 6.6 |
| Independent voting board members Part VI 1a–1b | 3 of 8 | 88.9% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseCovenant Medical Center in waterloo, iowa (mercyone waterloo) is a 346-bed, full-service, multi-specialty hospital that provides inpatient and outpatient health care services to support the community's health care needs. Services provided include intensive care; operating and recovery rooms for both inpatient and outpatient surgeries and procedures; an accredited rehabilitation program serving inpatients; accredited cancer and breast care centers; women's health care services including ob/gyn and midwifery, birth center, and the area's only level ii neonatal intensive care program…
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| DIRECTOR AS OF 1/25; PRES CENTRAL IA Director/trustee, 1.00 hrs/week | $0 | $1,685,852 | $245,442 | $1,931,294 |
| PHYSICIAN - CARDIOLOGY Highest compensated employee, 50.00 hrs/week | $1,822,907 | $0 | $60,535 | $1,883,442 |
| PHYSICIAN - ORTHOPEDICS Highest compensated employee, 50.00 hrs/week | $1,825,436 | $0 | $53,188 | $1,878,624 |
| PHYSICIAN - GASTROENTEROLOGY Highest compensated employee, 50.00 hrs/week | $1,370,823 | $0 | $60,326 | $1,431,149 |
| PHYSICIAN - ORTHOPEDICS Highest compensated employee, 50.00 hrs/week | $1,349,355 | $0 | $50,688 | $1,400,043 |
| PHYSICIAN - ORTHOPEDICS Highest compensated employee, 50.00 hrs/week | $1,291,625 | $0 | $49,353 | $1,340,978 |
| FORMER OFFICER Former, 0.00 hrs/week | $706,410 | $0 | $21,700 | $728,110 |
| VP, MEDICAL AFFAIRS Key employee, 40.00 hrs/week | $80,567 | $521,425 | $51,050 | $653,042 |
310 people received more than $100,000 in reportable compensation from Covenant Medical Center (Part VII, line 2). Compensation of current officers, directors and key employees totaled $3.2M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b8 · 3 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aNo
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 52,987
- Volunteers Part I, line 6140
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| HALLMARK HEALTHCARE SOLUTIONS INC Staffing services | $2,536,475 |
| HEALTH CAROUSEL LLC Staffing services | $2,478,910 |
| HAYES LOCUMS LLC Staffing services | $1,643,834 |
| SHARED MEDICAL SERVICES INC Health services | $1,364,625 |
| IOWA EMERGENCY PHYSICIANS LLP Staffing services | $1,196,316 |
Individuals listed as contractors are left out. 27 contractors were paid more than $100,000 in all.
Correct a figure or respond
Every number above is copied from Covenant Medical Center's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Covenant Medical Center, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Covenant Medical Center spent in FY2025, $88.13 went to programs. The full breakdown, from its IRS Form 990:
Embed on your site
Similar-sized charities in this cause
- Salina Regional Health CenterSalina, KS · revenue $435M · programs 78.5% · FY2025
- Commonspirit Mountain RegionPhoenix, AZ · revenue $437M · programs 84.6% · FY2025
- Lurie Childrens Medical GroupChicago, IL · revenue $434M · programs 99.0% · FY2025
- Ch Allied ServicesColumbia, MO · revenue $438M · programs 83.5% · 2024
- Kingman HealthcareKingman, AZ · revenue $434M · programs 87.9% · FY2025
Questions people ask
How much of Covenant Medical Center's spending goes to programs?
In the fiscal year ending June 30, 2025, Covenant Medical Center reported that 88.1% of its $406.6 million in expenses went to program services, 11.9% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does Covenant Medical Center pay its top executive?
The largest total compensation Covenant Medical Center reported for one person in the fiscal year ending June 30, 2025 was $1,931,294, for the role of DIRECTOR AS OF 1/25; PRES CENTRAL IA (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Covenant Medical Center get its money?
Of $436.4 million in revenue in the fiscal year ending June 30, 2025, 0.4% came from contributions and grants (including 0.2% from government grants) and 97.8% from program service revenue (Form 990, Part VIII).
Is Covenant Medical Center a registered charity?
The IRS lists EIN 42-1264647 as a 501(c)(3) organization (hospital or medical research organization), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202611329349301406 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202541349349301119 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202431359349306013 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202301319349303455 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202231369349307848 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202121329349301852 · read the filing
All filings for EIN 42-1264647: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.