Covenant College Foundation Inc
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 2,059,711 | 1,040,220 | 1,019,491 | 170.6 | 0% |
| 2021 | 3,608,993 | 936,238 | 2,672,755 | 257.5 | 0% |
| 2022 | 2,624,692 | 1,003,553 | 1,621,139 | 217.3 | 0% |
| 2023 | 1,928,825 | 980,505 | 948,320 | 247.7 | 0% |
In its most recent public year (2023), this organization brought in $948,320 more than it spent. Its reserves stood at about 247.7 months of spending, up from 170.6 in 2020. Staff pay was 0% of spending. $13,938,028 of its net assets are donor-restricted.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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