Covenant Living At The Holmstad
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2019 | 11,122,620 | 11,166,651 | −44,031 | -21.5 | 19% |
| 2020 | 16,640,345 | 16,719,475 | −79,130 | -14.2 | 21% |
| 2021 | 18,281,769 | 17,561,785 | 719,984 | -12.5 | 20% |
| 2022 | 18,391,953 | 17,326,002 | 1,065,951 | -13.2 | 22% |
| 2023 | 20,745,346 | 17,595,026 | 3,150,320 | -10.3 | 22% |
In its most recent public year (2023), this organization brought in $3,150,320 more than it spent. Its liabilities exceeded its net assets — reserves were below zero (-10.3 months), up from -21.5 in 2019. Staff pay was 22% of spending. $902,172 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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