Covenant Village
Covenant Village reported $17.8 million in revenue and $18.0 million in expenses for the fiscal year ending September 30, 2025. Of every $100 it spent, $87.76 went to program services, $12.24 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: 95.9% of the total. The highest compensation it reported for one person was $329,912 (CEO). 7 people received more than $100,000 in reportable compensation. Revenue rose 31% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending September 30, 2025 · Form 990, Part IX, line 25 · total expenses $18MFor context, the median across 3,614 covered human services charities: $88.27 programs, $11.52 management, $0.21 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending September 30, 2025 · Form 990, Part VIII · total revenue $18MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 87.8% | 87.2% |
| Management & general Part IX 25(C) ÷ 25(A) | 12.2% | 11.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 0.2% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.00 | $0.02 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 3.3% | 20.6% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 2.4% |
| Program service revenue share Part VIII 2g ÷ 12 | 95.9% | 70.8% |
| Highest reported compensation Part VII-A, columns D–F | $329,912 | $274,992 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 1.84% | 1.18% |
| People paid over $100,000 Part VII, line 2 | 7 | 6 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 5.6 | 6.9 |
| Independent voting board members Part VI 1a–1b | 12 of 12 | 100.0% |
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 expenseDuring fiscal year 2024/2025, Covenant Village served approximately 277 residents. Accommodations include 42 two-bedroom cottages, 137 apartments (studio, one bedroom, and two bedroom), and a 72-bed health center providing nursing care and assisted living beds. The main building includes a 9,700 square foot wellness center for residents, that includes state of the art cardio and strength equipment and an indoor swimming pool and spa. Covenant Village is currently involved with an expansion project with the goal of providing additional benefits to current and future residents
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 |
|---|---|---|---|---|
| CEO Officer, 40.00 hrs/week | $293,450 | $0 | $36,462 | $329,912 |
| HEALTH SERVICES ADMINISTRATOR Highest compensated employee, 40.00 hrs/week | $153,465 | $0 | $22,431 | $175,896 |
| SR. DIRECTOR OF HUMAN RESOURCES Highest compensated employee, 40.00 hrs/week | $123,589 | $0 | $22,513 | $146,102 |
| COO Highest compensated employee, 40.00 hrs/week | $118,799 | $0 | $17,881 | $136,680 |
| SR/ DIRECTOR OF FINANCE & MARKETING Officer, 40.00 hrs/week | $119,087 | $0 | $16,864 | $135,951 |
| DIRECTOR OF NURSING, BSN Highest compensated employee, 40.00 hrs/week | $108,418 | $0 | $21,899 | $130,317 |
| RN Highest compensated employee, 40.00 hrs/week | $114,647 | $0 | $192 | $114,839 |
7 people received more than $100,000 in reportable compensation from Covenant Village (Part VII, line 2). Compensation of current officers, directors and key employees totaled $462K (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–1b12 · 12 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aNo
- Whistleblower policy Part VI 13No
- Document retention policy Part VI 14No
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aNo
- 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 4No
- 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 5350
- Volunteers Part I, line 614
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| US FOODS INC Dietary services | $626,121 |
| CJMW ARCHITECTURE PA Architectural services | $555,464 |
| JASON RUMFELT DBA RUMFELT RESIDENTIAL LL Contractor | $505,450 |
| CARPET ONE FLOOR AND HOME Carpeting and renovation services | $481,108 |
Individuals listed as contractors are left out. 20 contractors were paid more than $100,000 in all.
Private foundation grants it received
3 private foundations reported grants to Covenant Village totaling $39,069 on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Covenant Village'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 Village, you can publish a response that is linked from this page.
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Of every $100 Covenant Village spent in FY2025, $87.76 went to programs. The full breakdown, from its IRS Form 990:
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All human services charities · Largest charities in North Carolina
Questions people ask
How much of Covenant Village's spending goes to programs?
In the fiscal year ending September 30, 2025, Covenant Village reported that 87.8% of its $18.0 million in expenses went to program services, 12.2% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does Covenant Village pay its top executive?
The largest total compensation Covenant Village reported for one person in the fiscal year ending September 30, 2025 was $329,912, for the role of CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Covenant Village get its money?
Of $17.8 million in revenue in the fiscal year ending September 30, 2025, 3.3% came from contributions and grants and 95.9% from program service revenue (Form 990, Part VIII).
Is Covenant Village a registered charity?
The IRS lists EIN 56-1210103 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), 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 September 30, 2025, object 202612049349301421 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending September 30, 2024, object 202501609349301160 · read the filing
- FY2023: Form 990 for the fiscal year ending September 30, 2023, object 202442189349300329 · read the filing
- FY2022: Form 990 for the fiscal year ending September 30, 2022, object 202330379349300628 · read the filing
- FY2021: Form 990 for the fiscal year ending September 30, 2021, object 202240539349301609 · read the filing
- FY2020: Form 990 for the fiscal year ending September 30, 2020, object 202130469349301208 · read the filing
All filings for EIN 56-1210103: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.