Covenant Network
- Assets
- $5.7m
- Revenue
- $1.7m
- Investments
- $17.6k
- Employees
- 13
- Location
- Saint Louis, MO
- Founding
- 05/1997
- Data as of
- 04/2023
- EIN
- 43-1768606
Organization Overview
Covenant Network is located in Saint Louis, MO. The organization was established in 1997. According to its NTEE Classification (X21) the organization is classified as: Protestant, under the broad grouping of Religion-Related and related organizations. As of 04/2023, Covenant Network employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Covenant Network 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 04/2023, Covenant Network generated $1.7m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 0.0% each year. All expenses for the organization totaled $1.7m during the year ending 04/2023. While expenses have increased by 6.9% per year over the past 5 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
TO SHARE AND TEACH THE CATHOLIC FAITH PRIMARILY THROUGH RADIO AND TO A LESSER EXTENT, DISTRIBUTION OF RELIGIOUS MATERIALS AND DIGITAL AND SOCIAL MEDIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATING EXPENSES FOR SEVENTEEN FULL POWER CATHOLIC RADIO STATIONS AND TWENTY-SIX TRANSLATOR STATIONS WHICH ARE PART OF THE ORGANIZATION AND TO A LESSER EXTENT DISTRIBUTION OF MATERIALS AND DIGITAL AND SOCIAL MEDIA TO SHARE AND TEACH THE CATHOLIC FAITH. UNKNOWN NUMBER OF LISTENERS SERVED FOR 43 BROADCAST FACILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John A Holman General Manager | OfficerTrustee | 40 | $81,762 |
Teresa Holman Assistant Manager/developm | OfficerTrustee | 40 | $65,276 |
Tammy Keppner Treasurer | OfficerTrustee | 0.01 | $0 |
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 | $1,609,995 |
| Noncash contributions included in lines 1a–1f | $19,550 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,609,995 |
| Total Program Service Revenue | $78,325 |
| Investment income | $23,804 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$14 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,712,322 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $13,450 |
| 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. | $155,167 |
| Compensation of current officers, directors, key employees. | $29,451 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $457,583 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $76,922 |
| Payroll taxes | $45,249 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,656 |
| Fees for services: Accounting | $36,386 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $51,004 |
| Advertising and promotion | $6,729 |
| Office expenses | $234,999 |
| Information technology | $4,536 |
| Royalties | $0 |
| Occupancy | $384,040 |
| Travel | $18,728 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,664 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $94,359 |
| Insurance | $45,489 |
| All other expenses | $0 |
| Total functional expenses | $1,700,105 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $222,467 |
| Savings and temporary cash investments | $4,479,482 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $954,740 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $17,608 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,158 |
| Total assets | $5,675,455 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $5,675,455 |
| Net assets with donor restrictions | $0 |
| 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 | $5,675,455 |