Covenant Foundation
- Assets
- $62.8k
- Revenue
- $159.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Stillwater, MN
- Founding
- 03/1988
- Data as of
- 11/2023
- EIN
- 36-3566128
Organization Overview
Covenant Foundation is located in Stillwater, MN. The organization was established in 1988. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Covenant Foundation 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 11/2023, Covenant Foundation generated $159.3k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $99.4k during the year ending 11/2023. As we would expect to see with falling revenues, expenses have declined by (9.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Covenant Foundation has awarded 148 individual grants totaling $1,246,815. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Haire Director | 1 | $0 | |
Lucretia Haire Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $159,313 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $159,313 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $25 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $2,436 |
| Contributions, gifts, grants paid | $97,000 |
| Total expenses and disbursements | $99,436 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $62,795 |
| Savings and temporary cash investments | $50 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $62,845 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Covenant Foundation has awarded $97,000 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
BRYDGES CENTRE PURPOSE: PAYMENTS TO SUPPORT VULNERABLE CHILDREN | $1,000 |
AS UNTO HIM PURPOSE: PAYMENT FOR GENERAL SUPPORT | $1,000 |
GOD'S DAILY WORD MINISTRIES PURPOSE: PAYMENT FOR FELLOWSHIP | $1,000 |
INTERSERVE USA PURPOSE: INTERSERVE USA | $2,000 |
LIBERTY CLASSICAL ACADEMY PURPOSE: PAYMENT FOR GENERAL SUPPORT | $6,000 |
EVANGELICAL FREE CHURCH OF AMERICA PURPOSE: PAYMENTS FOR FELLOWSHIP | $3,000 |