Covia Foundation
- Assets
- $0.0
- Revenue
- $7.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Glendale, CA
- Founding
- 01/2003
- Data as of
- 03/2022
- EIN
- 46-0502111
Organization Overview
Covia Foundation is located in Glendale, CA. The organization was established in 2003. According to its NTEE Classification (L11) the organization is classified as: Single Organization Support, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Covia 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 03/2022, Covia Foundation generated $7.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.4% each year . All expenses for the organization totaled $6.2m during the year ending 03/2022. While expenses have increased by 16.2% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
COVIA FOUNDATION RAISES FUNDS AND SUPPORTS THE NEEDS OF COVIA COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ESTABLISH AND MAINTAIN FUNDS TO BENEFIT AND PROVIDE CONTINUING FINANCIAL SUPPORT OF THE CAPITAL, COMMUNITY OUTREACH, FINANCIAL ASSISTANCE, AND OTHER CHARITABLE PURPOSES OF COVIA COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vince Forte Vice Chair | OfficerTrustee | 1 | $0 |
Deborah Proctor Chair | OfficerTrustee | 1 | $0 |
John Woodward CEO | Officer | 1 | $0 |
Diana Jamison Treasurer, CFO | Officer | 1 | $0 |
Eduardo Salvador CFO | Officer | 2 | $0 |
Ronald Schaefer COO - End: Feb 2022 | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $179,725 |
| Related organizations | $3,809,411 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,746,906 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,736,042 |
| Total Program Service Revenue | $0 |
| Investment income | $105,037 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$49,931 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,791,148 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,391,170 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $533,644 |
| Pension plan accruals and contributions | $37,159 |
| Other employee benefits | $63,402 |
| Payroll taxes | $35,407 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $42,810 |
| Advertising and promotion | $421 |
| Office expenses | $13,952 |
| Information technology | $1,837 |
| Royalties | $0 |
| Occupancy | $40,647 |
| Travel | $34,154 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,782 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $6,224,803 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| 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 | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Covia Foundation has awarded $518,260 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Glendale, CA PURPOSE: SUPPORTING ORGANIZATION TO EPISCOPAL SENIOR COMMUNITIES | $415,366 |
Walnut Creek, CA PURPOSE: AFFORDABLE HOUSING ASSISTANCE | $60,733 |
Walnut Creek, CA PURPOSE: AFFORDABLE HOUSING ASSISTANCE | $42,161 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Covia Foundation has recieved totaling $191,294.
| Awarding Organization | Amount |
|---|---|
California P E O Home La Canada, CA PURPOSE: ELDERLY OUTREACH PROGRAMS | $75,000 |
The Joseph And Vera Long Foundation Walnut Creek, CA PURPOSE: WELL CONNECTED | $49,000 |
Metta Fund San Francisco, CA PURPOSE: WELL-CONNECTED ESPANOL | $35,000 |
Community Foundation Sonoma County Santa Rosa, CA PURPOSE: FOR THE MARKET DAY SENIOR PROGRAM | $11,250 |
Catholic Community Foundation Of Santa Clara County San Jose, CA PURPOSE: GENERAL FINANCIAL SUPPORT | $6,000 |
Delong-Sweet Family Foundation Detroit, MI PURPOSE: FOR PURPOSES OF DAILY | $5,000 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jewish Senior Living Group San Francisco, CA | $2,756,319 | $9,175,842 |
Mmm East Inc San Francisco, CA | $118,949,023 | $7,931,673 |
Covia Foundation Glendale, CA | $0 | $7,791,148 |
Housing Promise Corporation Los Angeles, CA | $717,273 | $717,273 |
Claremont Investment Management Company Claremont, CA | $1,000 | $4,500,473 |
Bridge Community Impact San Francisco, CA | $8,316,284 | $4,579,229 |
Cedarsinai Park Foundation Portland, OR | $11,831,059 | $2,143,357 |
Bethany Center Foundation Of San Francisco Walnut Creek, CA | $0 | $0 |
Rhf Holdings Group Inc Long Beach, CA | $23,097,923 | $3,748,331 |
Lchs Foundation Inc Livingston, CA | $19,439,813 | $1,009,991 |
Ahsc Qalicb Portland, OR | $14,353,857 | $611,073 |
Jack Hall Hawaii Housing Corporation Honolulu, HI | $19,597,939 | $226,920 |