Covenant Health
Covenant Health reported $235.7 million in revenue and $203.0 million in expenses for calendar year 2024. Of every $100 it spent, $87.72 went to program services, $12.01 to management and general costs and $0.27 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 73.1% of the total. The highest compensation it reported for one person was $3,242,830 (President & CEO). 207 people received more than $100,000 in reportable compensation. Revenue fell 9% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $203MFor 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
Calendar year 2024 · Form 990, Part VIII · total revenue $236MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 87.7% | 85.6% |
| Management & general Part IX 25(C) ÷ 25(A) | 12.0% | 13.7% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.3% | 0.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $1.83 | $0.00 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 0.1% | 1.3% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 0.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 73.1% | 93.7% |
| Highest reported compensation Part VII-A, columns D–F | $3,242,830 | $975,831 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 1.60% | 1.34% |
| People paid over $100,000 Part VII, line 2 | 207 | 27 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 52.5 | 6.6 |
| Independent voting board members Part VI 1a–1b | 19 of 20 | 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
2024 · Form 990, Part III · the three largest programs by expenseCovenant Health is a community-owned, clinically integrated healthcare enterprise dedicated to being the region's premier healthcare network through service, community and innovation. Our mission is to improve the quality of life in our region through better health. Covenant Health provides patient-centered care that inspires clinical and service excellence and strives to be the first and best choice for the communities we serve. Established in 1996 by the consolidation of Fort Sanders Health System, Knoxville, Tennessee, and MMC HealthCare System in Oak Ridge, Covenant Health is governed by…
Highest reported compensation
2024 · 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 |
|---|---|---|---|---|
| President & CEO Director/trustee, officer, 50.00 hrs/week | $2,880,556 | $0 | $362,274 | $3,242,830 |
| EVP-Hosp Ops Key employee, 50.00 hrs/week | $976,075 | $0 | $113,223 | $1,089,298 |
| General Counsel Key employee, 50.00 hrs/week | $874,804 | $0 | $124,126 | $998,930 |
| EVP/CFO Officer, 50.00 hrs/week | $861,693 | $0 | $105,608 | $967,301 |
| EVP - Physician Enterprises Key employee, 50.00 hrs/week | $693,902 | $0 | $92,036 | $785,938 |
| SVP - Chief Medical Officer Key employee, 50.00 hrs/week | $685,012 | $0 | $44,785 | $729,797 |
| President/CAO - Fort Sanders Reg Highest compensated employee, 0.00 hrs/week | $659,599 | $0 | $36,837 | $696,436 |
| SVP - Human Resources Key employee, 50.00 hrs/week | $629,172 | $0 | $37,337 | $666,509 |
207 people received more than $100,000 in reportable compensation from Covenant Health (Part VII, line 2). Compensation of current officers, directors and key employees totaled $11M (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
2024 · 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–1b20 · 19 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 15aYes
- 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 51,587
- Volunteers Part I, line 619
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| Cardinal Health Pharmacy Management | $56,389,537 |
| Vaya Workforce Solutions LLC Contract Labor | $39,290,846 |
| Maxorplus LTD Pharmacy Management Services | $34,736,836 |
| Morrison Mgmt Specialists Inc Cafeteria Management | $10,877,108 |
| Oracle Maintenance | $9,342,455 |
Individuals listed as contractors are left out. 97 contractors were paid more than $100,000 in all.
Correct a figure or respond
Every number above is copied from Covenant Health'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 Health, you can publish a response that is linked from this page.
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Of every $100 Covenant Health spent in 2024, $87.72 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Saint Francis Hospital South LlcTulsa, OK · revenue $234M · programs 77.5% · FY2025
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- UPMC MemorialHarrisburg, PA · revenue $234M · programs 94.4% · FY2024
Questions people ask
How much of Covenant Health's spending goes to programs?
In calendar year 2024, Covenant Health reported that 87.7% of its $203.0 million in expenses went to program services, 12.0% to management and general and 0.3% to fundraising (Form 990, Part IX).
How much does Covenant Health pay its top executive?
The largest total compensation Covenant Health reported for one person in calendar year 2024 was $3,242,830, for the role of President & CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Covenant Health get its money?
Of $235.7 million in revenue in calendar year 2024, 0.1% came from contributions and grants and 73.1% from program service revenue (Form 990, Part VIII).
Is Covenant Health a registered charity?
The IRS lists EIN 62-1646734 as a 501(c)(3) organization (supporting organization (509(a)(3))), 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
- 2024: Form 990 for calendar year 2024, object 202503159349302140 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202433189349303868 · read the filing
- 2022: Form 990 for calendar year 2022, object 202333179349305453 · read the filing
- 2021: Form 990 for calendar year 2021, object 202203149349302095 · read the filing
- 2020: Form 990 for calendar year 2020, object 202103129349301920 · read the filing
- 2019: Form 990 for calendar year 2019, object 202003179349304035 · read the filing
All filings for EIN 62-1646734: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.