Covenant Ministries Of Benevolence
- Assets
- $60.9m
- Revenue
- $7.0m
- Investments
- $16.4m
- Employees
- 7
- Location
- Chicago, IL
- Founding
- 07/1975
- Data as of
- 09/2021
- EIN
- 36-3486813
Organization Overview
Covenant Ministries Of Benevolence is located in Chicago, IL. The organization was established in 1975. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 09/2021, Covenant Ministries Of Benevolence employed 7 individuals. This organization is an itermediate organization (such as a geographic headquarters) for a national or regional affiliated group. Covenant Ministries Of Benevolence 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 09/2021, Covenant Ministries Of Benevolence generated $7.0m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $4.2m during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (9.6%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Covenant Ministries Of Benevolence has awarded 72 individual grants totaling $2,159,741. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT ORGANIZATIONS SERVING THE SICK, DISABLED, AGING, POOR AND VULNERABLE.
Describe the Organization's Program Activity:
COVENANT MINISTRIES OF BENEVOLENCE (CMB) PROVIDES ADMINISTRATIVE MANAGEMENT SERVICES FOR SEVERAL AFFILIATES WHICH FALL UNDER THE IRS GUIDELINES AS NON-PROFIT ORGANIZATIONS, EXEMPT UNDER SECTION 501(C)(3). THE SERVICES PROVIDED TO THESE ORGANIZATIONS ASSISTS THEM IN CARRYING OUT THEIR MISSIONS OR EXEMPT FUNCTIONS. THE AFFILIATES FOR WHICH COVENANT MINISTRIES OF BENEVOLENCE PROVIDES THESE SERVICES INCLUDE THE FOLLOWING ORGANIZATIONS:- EMC HEALTH, INC. FEIN 94-2281314;- COVENANT INITIATIVES FOR CARE, INC. FEIN 27-1841721;- COVENANT ENABLING RESIDENCES OF ILLINOIS FEIN 36-3731196; - COVENANT ENABLING RESIDENCES OF MICHIGAN, INC. FEIN 38-3495889; - COVENANT ENABLING RESIDENCES OF MINNESOTA FEIN 41-1879965; - COVENANT ENABLING RESIDENCES OF FLORIDA, INC. FEIN 59-3399402; - ADELBROOK, INC. FEIN 06-0646920; - COVENANT CHILDREN'S HOME AND FAMILY SERVICES FEIN 36-2167043; - COVENANT LIVING COMMUNITIES, INC. FEIN 36-3478388 AND ITS AFFILIATES: - COVENANT LIVING OF GOLDEN VALLEY, INC. FEIN 41-0841150; - COVENANT LIVING OF FLORIDA, INC. FEIN 52-1115870; - COVENANT HOME ILLINOIS FEIN 36-2643638; - COVENANT HEALTHCARE CENTERS FEIN 52-1115873; - COVENANT LIVING AT THE HOLMSTAD FEIN 36-2835154; - COVENANT HOME OF CHICAGO FEIN 36-3095932; - COVENANT LIVING OF CROMWELL, INC. FEIN 13-1740015; - COVENANT LIVING WEST FEIN 95-3472345; - COVENANT LIVING OF COLORADO, INC. FEIN 84-1084331; - COVENANT LIVING OF THE GREAT LAKES FEIN 38-3244636; - COVENANT LIVING AT WINDSOR PARK FEIN 36-3385581; - COVENANT LIVING SERVICES FEIN 27-2480652; - COVENANT LIVING OF GENEVA FEIN 84-3227613; - TULSA HILLS COMMUNITY, INC. FEIN 84-2854729 - THREE CROWNS PARK FEIN: 36-2030089 - THREE CROWNS FOUNDATION FEIN: 20-1060468
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Roger Oxendale - End 83120 Former Director/president | 0 | $321,049 | |
Scott Hanson SVP Of Finance | OfficerTrustee | 40 | $185,368 |
Todd Slechta Ex-Officio/president Of Cic | OfficerTrustee | 40 | $167,025 |
Ron Dixon VP Of Covenant Initiatives For Care | 40 | $149,400 | |
Ron Anderson Investment Reporting & Accounting Ma | 40 | $126,014 | |
Marit Johnson Awes Assistant Secretary | Officer | 40 | $121,531 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mcdermott Will & Emery Llp Consulting | 1/30/16 | $123,509 |
Jeffrey Slocum & Associates Inc Consulting | 1/30/16 | $279,415 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $686,643 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $686,643 |
| Total Program Service Revenue | $2,773,713 |
| Investment income | $390,184 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,608,860 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,028,359 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $630,396 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $658,056 |
| Compensation of current officers, directors, key employees. | $658,056 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $499,902 |
| Pension plan accruals and contributions | $9,504 |
| Other employee benefits | $35,680 |
| Payroll taxes | $59,978 |
| Fees for services: Management | $1,512,000 |
| Fees for services: Legal | $63,123 |
| Fees for services: Accounting | $16,622 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $228,783 |
| Advertising and promotion | $10,729 |
| Office expenses | $15,505 |
| Information technology | $7,728 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $16,853 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $29,641 |
| Interest | $74,422 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,090 |
| Insurance | $195,997 |
| All other expenses | $0 |
| Total functional expenses | $4,174,525 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $718,804 |
| Savings and temporary cash investments | $819,565 |
| Pledges and grants receivable | $128,994 |
| Accounts receivable, net | $1,681,595 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,895 |
| Net Land, buildings, and equipment | $836,952 |
| Investments—publicly traded securities | $38,334,242 |
| Investments—other securities | $16,443,308 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,905,911 |
| Total assets | $60,872,266 |
| Accounts payable and accrued expenses | $34,940 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,675,624 |
| Total liabilities | $8,710,564 |
| Net assets without donor restrictions | $2,574,934 |
| Net assets with donor restrictions | $49,586,768 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $60,872,266 |
Grants Awarded
Over the last fiscal year, Covenant Ministries Of Benevolence has awarded $622,896 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
Turlock, CA PURPOSE: GRANTS FOR SENIORS | $100,000 |
Turlock, CA PURPOSE: GRANTS FOR SENIORS | $100,000 |
Modesto, CA PURPOSE: GRANTS FOR SENIORS | $85,146 |
Merced, CA PURPOSE: GRANTS FOR SENIORS | $73,640 |
Chicago, IL PURPOSE: SPONSORSHIPS | $50,000 |
LGBTQ COLLABORATIVE PURPOSE: GRANTS FOR SENIORS | $48,950 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Yum Brands Foundation Inc Louisville, KY | $62,047,633 | $1,353,894 |
Girl Scouts Of Eastern Missouri Inc St Louis, MO | $41,876,901 | $17,676,549 |
Zakat Foundation Of America Worth, IL | $10,176,762 | $13,348,196 |
Art Of Living Foundation Fairfield, IA | $25,087,396 | $11,765,416 |
Rose Brooks Center Inc Kansas City, MO | $20,126,633 | $9,910,378 |
Horizon House Of Illinois Valley Inc Peru, IL | $4,828,429 | $7,447,824 |
Marshall-Starke Development Center Inc Plymouth, IN | $2,688,412 | $6,830,962 |
Opportunities Unlimited Sioux City, IA | $5,084,189 | $7,147,348 |
Lakeshore Cap Inc Of Wisconsin Manitowoc, WI | $4,910,382 | $5,227,133 |
Jefferson County Comprehensive Mt Vernon, IL | $4,460,703 | $5,732,425 |
Cdc Resources Inc Monticello, IN | $3,899,685 | $5,523,588 |
Innovation Development Institute Inc Chicago, IL | $6,803,364 | $5,200,844 |