Covenant Woods
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 30,881,699 | 33,554,325 | −2,672,626 | 7.1 | 32% |
| 2021 | 38,290,198 | 39,506,115 | −1,215,917 | 8.6 | 36% |
| 2022 | 38,635,107 | 42,541,914 | −3,906,807 | 6.1 | 36% |
| 2023 | 36,760,268 | 43,566,569 | −6,806,301 | 1.6 | 41% |
In its most recent public year (2023), this organization spent $6,806,301 more than it brought in. Its reserves stood at about 1.6 months of spending, down from 7.1 in 2020. Staff pay was 41% of spending. $4,094,958 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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