Covenant Foundation
- Assets
- $3.9m
- Revenue
- $5.6m
- Investments
- $0.0
- Employees
- 10
- Location
- New York, NY
- Founding
- 07/1991
- Data as of
- 12/2021
- EIN
- 36-3722029
Organization Overview
Covenant Foundation is located in New York, NY. The organization was established in 1991. As of 12/2021, Covenant Foundation employed 10 individuals. 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 12/2021, Covenant Foundation generated $5.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $5.3m during the year ending 12/2021. While expenses have increased by 3.5% per year over the past 7 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.
Since 2015, Covenant Foundation has awarded 282 individual grants totaling $14,371,287. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO BUILD ON EXISTING STRENGTH WITHIN THE FIELD OF JEWISH EDUCATION IN NORTH AMERICA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION ADDRESSES ALL FORMS OF PRE-COLLEGIATE AND ADULT JEWISH EDUCATION. THROUGH AWARDS TO INDIVIDUALS AND GRANTS TO INSTITUTIONS FOR CREATIVE PROGRAMS, THE FOUNDATION SEEKS TO CULTIVATE THE STRENGTHS OF OUTSTANDING EDUCATORS. TO FURTHER STRENGTHEN THE FIELD, THE FOUNDATION DISSEMINATES INFORMATION ABOUT EFFECTIVE PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Harlene Winnick Appelman Executive Director | OfficerTrustee | 40 | $224,966 |
Joni-Sue B Levine Associate Director | 40 | $179,639 | |
Adina Kay-Gross Editorial Director | 40 | $109,654 | |
Ralia Wagner Dir Of Finance And Admin | 40 | $109,377 | |
Keating Crown Secretary | OfficerTrustee | 1 | $0 |
Cheryl Finkel Board Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rosov Consulting Llc Grant Eval/oversight | 12/30/21 | $164,991 |
Faculty Ny Event Production | 12/30/21 | $167,300 |
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 | $5,634,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,634,000 |
| Total Program Service Revenue | $0 |
| Investment income | $152 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,634,152 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,273,063 |
| Grants and other assistance to domestic individuals. | $203,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $246,644 |
| Compensation of current officers, directors, key employees. | $32,064 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $764,353 |
| Pension plan accruals and contributions | $82,186 |
| Other employee benefits | $185,304 |
| Payroll taxes | $71,565 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,798 |
| Fees for services: Accounting | $23,176 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $512,190 |
| Advertising and promotion | $200,240 |
| Office expenses | $179,249 |
| Information technology | $339,733 |
| Royalties | $0 |
| Occupancy | $113,988 |
| Travel | $9,478 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $74,608 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,683 |
| Insurance | $14,755 |
| All other expenses | $0 |
| Total functional expenses | $5,301,013 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,021,662 |
| Pledges and grants receivable | $2,720,157 |
| Accounts receivable, net | $0 |
| 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 | $106,646 |
| Net Land, buildings, and equipment | $2,683 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,851,148 |
| Accounts payable and accrued expenses | $513,841 |
| Grants payable | $2,780,771 |
| 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 | $0 |
| Total liabilities | $3,294,612 |
| Net assets without donor restrictions | $53,886 |
| Net assets with donor restrictions | $502,650 |
| 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 | $3,851,148 |
Grants Awarded
Over the last fiscal year, Covenant Foundation has awarded $2,291,524 in support to 38 organizations.
| Grant Recipient | Amount |
|---|---|
Waterville, ME PURPOSE: See Part IV | $150,000 |
Washington, DC PURPOSE: See Part IV | $150,000 |
Pittsburgh, PA PURPOSE: See Part IV | $150,000 |
Los Angeles, CA PURPOSE: See Part IV | $150,000 |
Brooklyn, NY PURPOSE: See Part IV | $150,000 |
New York, NY PURPOSE: See Part IV | $142,300 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Covenant Foundation has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
Covenant Foundation New York, NY PURPOSE: See Part IV | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pricewaterhouse Coopers Charitable Foundation New York, NY | $102,327,262 | $48,848,686 |
Scope Education Services Smithtown, NY | $15,705,404 | $22,246,673 |
Covenant Foundation New York, NY | $3,851,148 | $5,634,152 |
American Friends Of Bet El Yeshiva Center Woodmere, NY | $34,456 | $2,353,963 |
Educational Opportunity Centers Of Pennsylvania Edwardsville, PA | $248,179 | $1,067,036 |
American Federation Of Teachers Commack, NY | $486,537 | $749,868 |
Society For Scholarly Publishing Mount Laurel, NJ | $1,914,046 | $908,703 |
American Federation Of Teachers Kings Park, NY | $285,614 | $306,130 |
Hatboro Horsham Educational Foundation Horsham, PA | $605,519 | $227,713 |
Science Teachers Association Of New York State Inc Syracuse, NY | $522,354 | $163,939 |
Westchester & Putnam College Conferences Inc Crompond, NY | $3,110 | $0 |
Dover And Sherborn Education Fund Inc Dover, MA | $186,865 | $11,586 |