Covenant Foundation
- Assets
- $219.0
- Revenue
- $58.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Stillwater, MN
- Founding
- 03/1988
- Data as of
- 11/2021
- 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 11/2021, Covenant Foundation generated $58.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (18.6%) each year. All expenses for the organization totaled $94.5k during the year ending 11/2021. As we would expect to see with falling revenues, expenses have declined by (14.1%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Covenant Foundation has awarded 112 individual grants totaling $1,014,815. 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 |
|---|---|---|---|
Lucretia Haire Director | 1 | $0 | |
Steven Haire Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $58,800 |
| 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 | $58,800 |
| 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 | $1,526 |
| Contributions, gifts, grants paid | $93,000 |
| Total expenses and disbursements | $94,526 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $169 |
| 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 | $219 |
| 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 $93,000 in support to 22 organizations.
| Grant Recipient | Amount |
|---|---|
Hudson, WI PURPOSE: PAYMENTS FOR OUTREACH | $18,000 |
MINNESOTA ADULT & TEEN CHALLENGE PURPOSE: PAYMENTS TO SUPPORT TEENS AND ADULTS GAINING FREEDOM FROM CHEMICAL ADDICTION | $10,000 |
Minneapolis, MN PURPOSE: PAYMENTS FOR MATCHING CHALLENGE | $10,000 |
YOUTH INVESTMENTTIMBER BAY PURPOSE: PAYMENTS TO SUPPORT LONG-TERM YOUTH MENTORSHIP | $6,500 |
Bloomington, MN PURPOSE: PAYMENTS FOR FELLOWSHIP | $5,000 |
Stillwater, MN PURPOSE: PAYMENTS FOR SUPPORT OF MISSION IN MORELIA, MEXICO | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
We Energies Foundation Inc Milwaukee, WI | $74,423,525 | $6,027,785 |
3m Foundation St Paul, MN | $11,832,463 | $7,120,220 |
Richard O Jacobson Foundation Inc Des Moines, IA | $24,841,991 | $13,826,505 |
The Ceres Trust Milwaukee, WI | $8,473,497 | $7,541,315 |
New Jci Foundation Inc Milwaukee, WI | $45,616,522 | $3,307,387 |
Hugh J Andersen Foundation Bayport, MN | $156,260,583 | $11,255,430 |
Hall-Perrine Foundation Cedar Rapids, IA | $140,581,654 | $14,980,430 |
Dohmen Company Foundation Inc Milwaukee, WI | $0 | $9,439,356 |
Xcel Energy Foundation Minneapolis, MN | $11,307,736 | $67,424 |
Patrick & Aimee Butler Family Foundation St Paul, MN | $109,951,624 | $8,639,825 |
Mead Witter Foundation Inc Wisconsin Rapids, WI | $51,357,757 | $5,357,467 |
Comer Science And Education Foundation Waukesha, WI | $78,906,538 | $1,965,731 |