Covenant Ministries Of Benevolence
- Assets
- $53.9m
- Revenue
- $5.8m
- Investments
- $21.2m
- Employees
- 12
- Location
- Chicago, IL
- Founding
- 07/1975
- Data as of
- 09/2023
- EIN
- 36-3486813
Organization Overview
Covenant Ministries Of Benevolence is located in Chicago, IL. The organization was established in 1975. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 09/2023, Covenant Ministries Of Benevolence employed 12 individuals. This organization is an itermediate organization (such as a geographic headquarters) for a national or regional affiliated group. Covenant Ministries Of Benevolence 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 Ministries Of Benevolence generated $5.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $4.6m during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (6.1%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Covenant Ministries Of Benevolence has awarded 96 individual grants totaling $3,477,574. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT ORGANIZATIONS SERVING THE SICK, DISABLED, AGING, POOR AND VULNERABLE.
Describe the Organization's Program Activity:
COVENANT MINISTRIES OF BENEVOLENCE (CMB) PROVIDES ADMINISTRATIVE MANAGEMENT SERVICES FOR SEVERAL AFFILIATES WHICH FALL UNDER THE IRS GUIDELINES AS NON-PROFIT ORGANIZATIONS, EXEMPT UNDER SECTION 501(C)(3). THE SERVICES PROVIDED TO THESE ORGANIZATIONS ASSISTS THEM IN CARRYING OUT THEIR MISSIONS OR EXEMPT FUNCTIONS. THE AFFILIATES FOR WHICH COVENANT MINISTRIES OF BENEVOLENCE PROVIDES THESE SERVICES INCLUDE THE FOLLOWING ORGANIZATIONS:- EMC HEALTH, INC. FEIN 94-2281314;- COVENANT INITIATIVES FOR CARE, INC. FEIN 27-1841721;- COVENANT ENABLING RESIDENCES OF ILLINOIS FEIN 36-3731196; - COVENANT ENABLING RESIDENCES OF MICHIGAN, INC. FEIN 38-3495889; - COVENANT ENABLING RESIDENCES OF MINNESOTA FEIN 41-1879965; - COVENANT ENABLING RESIDENCES OF FLORIDA, INC. FEIN 59-3399402; - ADELBROOK, INC. FEIN 06-0646920; - COVENANT CHILDREN'S HOME AND FAMILY SERVICES FEIN 36-2167043; - COVENANT LIVING COMMUNITIES, INC. FEIN 36-3478388 AND ITS AFFILIATES: - COVENANT LIVING OF GOLDEN VALLEY, INC. FEIN 41-0841150; - COVENANT LIVING OF FLORIDA, INC. FEIN 52-1115870; - COVENANT HOME ILLINOIS FEIN 36-2643638; - COVENANT HEALTHCARE CENTERS FEIN 52-1115873; - COVENANT LIVING AT THE HOLMSTAD FEIN 36-2835154; - COVENANT HOME OF CHICAGO FEIN 36-3095932; - COVENANT LIVING OF CROMWELL, INC. FEIN 13-1740015; - COVENANT LIVING WEST FEIN 95-3472345; - COVENANT LIVING OF COLORADO, INC. FEIN 84-1084331; - COVENANT LIVING OF THE GREAT LAKES FEIN 38-3244636; - COVENANT LIVING AT WINDSOR PARK FEIN 36-3385581; - COVENANT LIVING SERVICES FEIN 27-2480652; - COVENANT LIVING OF GENEVA FEIN 84-3227613; - TULSA HILLS COMMUNITY, INC. FEIN 84-2854729 - THREE CROWNS PARK FEIN: 36-2030089 - THREE CROWNS FOUNDATION FEIN: 20-1060468 - COVENANT LIVING OF KEENE FEIN: 87-3525712
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda Stuhmer Emch President | Officer | 1 | $0 |
Todd Slechta Ex-Officio/president Of Cmb | OfficerTrustee | 40 | $288,273 |
Scott Hanson SVP Of Finance | OfficerTrustee | 40 | $191,869 |
Ron Anderson Accounting Manager | 40 | $127,229 | |
David Boggs Executive Director | 40 | $119,373 | |
Marit Johnson Awes Assistant Secretary | Officer | 40 | $111,822 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jeffrey Slocum & Associates Inc Consulting | 1/30/16 | $279,415 |
Mcdermott Will & Emery Llp Consulting | 1/30/16 | $123,509 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $738,050 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $738,050 |
| Total Program Service Revenue | $2,778,721 |
| Investment income | $1,049,067 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $770,434 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,762,434 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $842,018 |
| 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. | $812,688 |
| Compensation of current officers, directors, key employees. | $812,688 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $326,113 |
| Pension plan accruals and contributions | $1,614 |
| Other employee benefits | $68,318 |
| Payroll taxes | $53,099 |
| Fees for services: Management | $1,512,000 |
| Fees for services: Legal | $35,533 |
| Fees for services: Accounting | $6,298 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $464,322 |
| Advertising and promotion | $16,142 |
| Office expenses | $8,832 |
| Information technology | $18,438 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $67,433 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,898 |
| Interest | $77,821 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,557 |
| Insurance | $157,881 |
| All other expenses | $0 |
| Total functional expenses | $4,614,452 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,681,671 |
| Savings and temporary cash investments | $551,703 |
| Pledges and grants receivable | $72,229 |
| Accounts receivable, net | $1,762,703 |
| 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 | $0 |
| Net Land, buildings, and equipment | $801,544 |
| Investments—publicly traded securities | $24,014,890 |
| Investments—other securities | $21,224,383 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,762,091 |
| Total assets | $53,871,214 |
| Accounts payable and accrued expenses | $7,817 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| 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 | $6,372,216 |
| Total liabilities | $6,380,033 |
| Net assets without donor restrictions | $3,562,949 |
| Net assets with donor restrictions | $43,928,232 |
| 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 | $53,871,214 |
Grants Awarded
Over the last fiscal year, Covenant Ministries Of Benevolence has awarded $830,333 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
COVENANT HOME SERVICES PURPOSE: GRANTS FOR SENIORS | $101,000 |
EVANGELICAL COVENANT CHURCH PURPOSE: SPONSORSHIPS | $56,473 |
SWEDISH HOSPITAL FOUNDATION PURPOSE: BENEFIT GALA/FUNDRAISING | $10,000 |
ADELBROOK INC PURPOSE: SPONSORSHIPS | $7,000 |
CATHOLIC CHARITIES OF THE DIOCESE OF STOCKTON PURPOSE: GRANTS FOR SENIORS | $48,354 |
CENTER FOR HUMAN SERVICES PURPOSE: GRANTS FOR SENIORS | $43,500 |