Covenant Kids Inc
- Assets
- $8.8m
- Revenue
- $24.1m
- Investments
- $0.0
- Employees
- 293
- Location
- Arlington, TX
- Founding
- 07/2003
- Data as of
- 12/2022
- EIN
- 75-2889215
Organization Overview
Covenant Kids Inc is located in Arlington, TX. The organization was established in 2003. According to its NTEE Classification (P31) the organization is classified as: Adoption, under the broad grouping of Human Services and related organizations. As of 12/2022, Covenant Kids Inc employed 293 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Covenant Kids Inc 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 12/2022, Covenant Kids Inc generated $24.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $23.1m during the year ending 12/2022. While expenses have increased by 10.3% per year over the past 8 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A SAFE, LOVING, AND STRUCTURED FAMILY ENVIRONMENT IN WHICH CHILDREN MAY GROW, MATURE, AND EXPERIENCE THE LOVE OF GOD.
Describe the Organization's Program Activity:
COVENANT KIDS FOSTER CARE PROGRAM PLACES CHILDREN IN NEED INTO APPROVED FOSTER HOMES AND ASSISTS IN PROVIDING BASIC AND THERAPEUTIC FOSTER CARE TO ENHANCE A CHILD'S WELL-BEING IN A FAMILY SETTING. THE PROGRAM PROVIDES FOSTER FAMILIES WITH MONETARY SUPPLEMENTS AND OTHER RESOURCES FOR DAILY MAINTENANCE. IN 2022, THE ORGANIZATION WORKED WITH 375 FOSTER FAMILIES AND 780 CHILDREN.
COVENANT KIDS ADOPTION PROGRAM PROVIDES PLACEMENT SERVICES TO THOSE FAMILIES WHO HAVE ELECTED MATCHED OR FOSTER CARE TO ADOPT SERVICES. DURING 2022, THE ADOPTION PROGRAM HAD 119 COMPLETED ADOPTIONS.
COVENANT KIDS POST ADOPTION PROGRAM OFFERS GUIDANCE AND SUPPORT TO FAMILIES WHO HAVE ADOPTED CHILDREN FROM CHILD PROTECTIVE SERVICES. THE PROGRAM ASSISTS ADOPTIVE FAMILIES IN ADJUSTING TO THE NEW FAMILY DYNAMIC, COPE WITH THE CHILD'S HISTORY OF ABUSE, NEGLECT AND TRAUMA AND ASSIST WITH MENTAL HEALTH ISSUES THE CHILD MAY BE EXPERIENCING. IN 2022, THE ORGANIZATION SERVED 224 FAMILIES AND 722 CHILDREN.
COVENANT KIDS CONDUCTS KINSHIP AND HOME STUDY ASSESSMENTS FOR THOSE FAMILIES SEEKING TO RECEIVE A CHILD IN THE CARE OF THE TEXAS DEPARTMENT OF FAMILY AND PROTECTIVE SERVICES. THE ORGANIZATION COMPLETED 4,661 HOME STUDIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Lund Ed/pres/dir. | OfficerTrustee | 40 | $201,826 |
Ron Schmidt Vp/director | OfficerTrustee | 1 | $0 |
Daniel Lund Sec/treas/di | OfficerTrustee | 40 | $197,159 |
Pam Schmidt Director | Trustee | 1 | $0 |
Todd Norton Director | Trustee | 1 | $0 |
Jessica Fielder Director | Trustee | 1 | $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 | $1,121,137 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,121,137 |
| Total Program Service Revenue | $22,976,679 |
| Investment income | $2,619 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$818 |
| 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 | $256 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,117,439 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,135 |
| Grants and other assistance to domestic individuals. | $5,907,055 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $578,967 |
| Compensation of current officers, directors, key employees. | $114,434 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,616,799 |
| Pension plan accruals and contributions | $35,590 |
| Other employee benefits | $782,000 |
| Payroll taxes | $690,218 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,042 |
| Fees for services: Accounting | $611,905 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,776,333 |
| Advertising and promotion | $47,665 |
| Office expenses | $253,259 |
| Information technology | $78,279 |
| Royalties | $0 |
| Occupancy | $559,382 |
| Travel | $331,678 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,055 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $272,872 |
| All other expenses | $374,042 |
| Total functional expenses | $23,095,485 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,201,072 |
| Savings and temporary cash investments | $47,940 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,380,449 |
| Loans from Officers, Directors, or Controlling Persons | $25,871 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $139,608 |
| Net Land, buildings, and equipment | $6,598 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $3,956 |
| Other assets | $27,213 |
| Total assets | $8,832,707 |
| Accounts payable and accrued expenses | $1,351,787 |
| Grants payable | $0 |
| Deferred revenue | $394,172 |
| 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 | $427,193 |
| Other liabilities | $0 |
| Total liabilities | $2,173,152 |
| Net assets without donor restrictions | $6,659,555 |
| 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 | $8,832,707 |