Covenant Living Of Cromwell Inc
- Assets
- $97.7m
- Revenue
- $27.6m
- Investments
- $6.6m
- Employees
- 351
- Location
- Cromwell, CT
- Founding
- 07/1975
- Data as of
- 09/2023
- EIN
- 13-1740015
Organization Overview
Covenant Living Of Cromwell Inc is located in Cromwell, CT. The organization was established in 1975. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. As of 09/2023, Covenant Living Of Cromwell Inc employed 351 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Covenant Living Of Cromwell Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2023, Covenant Living Of Cromwell Inc generated $27.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $31.9m during the year ending 09/2023. While expenses have increased by 6.0% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
CARE FOR SENIOR ADULTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESIDENTIAL LIVING: THE NUMBER OF PERSONS WHO BENEFITED FROM THE SERVICES WE PROVIDED FOR THE YEAR ENDED SEPTEMBER 30, 2023 WERE AS FOLLOWS:THERE WERE A TOTAL OF 288 RESIDENTS, OCCUPYING 227 APARTMENTS AT 09/30/2023. RESIDENCY FOR THE FISCAL YEAR TOTALED 100,815 RESIDENT DAYS.
ASSISTED LIVING: THE NUMBER OF PERSONS WHO BENEFITED FROM THE SERVICES WE PROVIDED FOR THE YEAR ENDED SEPTEMBER 30, 2023 WERE AS FOLLOWS:THERE WERE A TOTAL OF 41 ASSISTED LIVING RESIDENTS AT 09/30/2023. ASSISTED LIVING RESIDENCY FOR THE FISCAL YEAR TOTALED 14,822 RESIDENT DAYS. ASSISTED LIVING MEMORY SUPPORT: THE NUMBER OF PERSONS WHO BENEFITED FROM THE SERVICES WE PROVIDED FOR THE YEAR ENDED SEPTEMBER 30, 2023 WERE AS FOLLOWS: THERE WERE A TOTAL OF 12 ASSISTED LIVING MEMORY SUPPORT RESIDENTS AT 09/30/2023. ASSISTED LIVING MEMORY SUPPORT RESIDENCY FOR THE FISCAL YEAR TOTALED 4,197 RESIDENT DAYS.
SKILLED NURSING: THE NUMBER OF PERSONS WHO BENEFITED FROM THE SERVICES WE PROVIDED FOR THE YEAR ENDED SEPTEMBER 30, 2023 WERE AS FOLLOWS:THERE WERE A TOTAL OF 56 SKILLED CARE RESIDENTS AT 09/30/2023. SKILLED CARE RESIDENCY FOR THE FISCAL YEAR TOTALED 19,536 RESIDENT DAYS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terri S Cunliffe Director/clcs President/ceo | OfficerTrustee | 1 | $0 |
Todd Slechta Director/ex-Officio | Trustee | 0.1 | $0 |
Tammy Swanson-Draheim Director/ex-Officio | Trustee | 0.1 | $0 |
Janet Creaney Director/chair | OfficerTrustee | 0.1 | $0 |
Lorene Flewellen Director/vice Chair | OfficerTrustee | 0.1 | $0 |
Janet Goelz Hoffman Director/secretary | OfficerTrustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Montain View Landscaping Llc Landscaping | 9/29/23 | $482,185 |
Healthpro Therapy Services Llc Therapy | 9/29/23 | $305,689 |
Sodexo Inc & Affiliates Dining And Management | 9/29/23 | $497,915 |
Cristiano And Son Painting Construction/renovation | 9/29/23 | $251,618 |
Karl E Lindroth Construction/renovation | 9/29/23 | $219,105 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $270,045 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $275,545 |
| Total Program Service Revenue | $24,853,948 |
| Investment income | $980,755 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$6,276 |
| Net Gain/Loss on Asset Sales | $289,182 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $27,551,037 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $236,073 |
| Compensation of current officers, directors, key employees. | $236,073 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,429,975 |
| Pension plan accruals and contributions | $190,541 |
| Other employee benefits | $1,208,761 |
| Payroll taxes | $764,643 |
| Fees for services: Management | $118,896 |
| Fees for services: Legal | $80,086 |
| Fees for services: Accounting | $9,904 |
| Fees for services: Lobbying | $1,778 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,531,318 |
| Advertising and promotion | $193,348 |
| Office expenses | $921,020 |
| Information technology | $570,836 |
| Royalties | $0 |
| Occupancy | $3,242,996 |
| Travel | $67,449 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $82,251 |
| Interest | $3,542,550 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,222,802 |
| Insurance | $321,105 |
| All other expenses | $656,481 |
| Total functional expenses | $31,949,755 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,914 |
| Savings and temporary cash investments | $357,696 |
| Pledges and grants receivable | $176,564 |
| Accounts receivable, net | $949,481 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $503,148 |
| Net Land, buildings, and equipment | $74,820,222 |
| Investments—publicly traded securities | $13,259,283 |
| Investments—other securities | $6,637,206 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $971,792 |
| Total assets | $97,678,306 |
| Accounts payable and accrued expenses | $853,559 |
| Grants payable | $0 |
| Deferred revenue | $14,673,133 |
| Tax-exempt bond liabilities | $45,855,425 |
| Escrow or custodial account liability | $97,753 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $42,769,518 |
| Total liabilities | $104,249,388 |
| Net assets without donor restrictions | -$6,758,979 |
| Net assets with donor restrictions | $187,897 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $97,678,306 |