Covenant Living At Shannondale
| Year | Money in | Money out | Result | Reserve mo. | Staffing |
|---|---|---|---|---|---|
| 2020 | $31,104,381 | $36,845,060 | −$5,740,679 | -1.6 | 36% |
| 2021 | $32,362,942 | $36,285,958 | −$3,923,016 | -1.7 | 36% |
| 2022 | $31,846,714 | $40,569,436 | −$8,722,722 | -4.6 | 41% |
| 2023 | $28,942,212 | $40,968,001 | −$12,025,789 | -7.6 | 39% |
In its most recent public year (2023), this organization spent $12,025,789 more than it brought in. Its liabilities exceeded its net assets — reserves were below zero (-7.6 months), down from -1.6 in 2020. Staff pay was 39% of spending. $470,734 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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