Covenant Life Ministries
- Assets
- $57.1k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Clyde, NC
- Founding
- 12/2004
- Data as of
- 12/2021
- EIN
- 83-0388742
Organization Overview
Covenant Life Ministries is located in Clyde, NC. The organization was established in 2004. According to its NTEE Classification (X21) the organization is classified as: Protestant, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Covenant Life Ministries 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 Life Ministries generated $70.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.0%) each year. All expenses for the organization totaled $61.3k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (10.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
ALL OF THE ORGANIZATIONS EXPENDITURES LISTED ON PAGE 1 WERE INCURRED IN ACCORDANCE WITH THE PURPOSE OF THE ORGANIZATION, THAT IS, SPREADING THE GOOD NEWS OF JESUS CHRIST TO A LOST AND DYING WORLD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev Frank Harvey President | 40 | $24,500 | |
Karen Morgan Trustee | 3 | $0 | |
Mr Michael Abbot Trustee | 3 | $0 | |
Mr Brian Cagle Trustee | 3 | $0 | |
Mrs Shirley Harvey Trustee | 20 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $70,793 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $48 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $70,841 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $24,500 |
| Professional fees and other payments to independent contractors | $1,631 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $1,202 |
| Other expenses | $33,935 |
| Total expenses | $61,268 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $47,922 |
| Other assets | $0 |
| Total assets | $57,129 |
| Total liabilities | $0 |
| Net assets or fund balances | $57,129 |
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