Covenant Enabling Residences Of Minnesota
- Assets
- $4.0m
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Duluth, MN
- Founding
- 07/1975
- Data as of
- 12/2023
- EIN
- 41-1879965
Organization Overview
Covenant Enabling Residences Of Minnesota is located in Duluth, MN. The organization was established in 1975. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Covenant Enabling Residences Of Minnesota is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE HIGH-QUALITY LIVING OPPORTUNITIES FOR ADULTS WITH DEVELOPMENTAL DISABILITIES IN A CHRISTIAN ENVIRONMENT ON BEHALF OF THE EVANGELICAL COVENANT CHURCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE HIGH-QUALITY LIVING OPPORTUNITIES FOR ADULTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Boggs Assistant Se | Trustee | 40 | $0 |
Dana Norton Executive Di | Officer | 40 | $27,906 |
Tracy Christenson Controller | Officer | 40 | $99,637 |
Laura Daire Program Admi | 40 | $100,752 | |
William King Trustee | Trustee | $0 | |
Harry Michalicek Trustee | Trustee | $0 |
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 | $38,587 |
| Noncash contributions included in lines 1a–1f | $5,090 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $38,587 |
| Total Program Service Revenue | $4,856,463 |
| Investment income | $7,771 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $29,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,939,412 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $127,544 |
| Compensation of current officers, directors, key employees. | $18,328 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,859,632 |
| Pension plan accruals and contributions | $32,223 |
| Other employee benefits | $264,755 |
| Payroll taxes | $224,493 |
| Fees for services: Management | $11,647 |
| Fees for services: Legal | $5,192 |
| Fees for services: Accounting | $20,676 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $922 |
| Fees for services: Other | $0 |
| Advertising and promotion | $11,657 |
| Office expenses | $41,233 |
| Information technology | $59,476 |
| Royalties | $0 |
| Occupancy | $526,525 |
| Travel | $75,764 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20,089 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,313 |
| Insurance | $72,961 |
| All other expenses | $13,174 |
| Total functional expenses | $4,789,368 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,004 |
| Savings and temporary cash investments | $347,947 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $324,841 |
| 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 | $5,650 |
| Net Land, buildings, and equipment | $802,724 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $76,972 |
| Other assets | $2,421,178 |
| Total assets | $4,010,316 |
| Accounts payable and accrued expenses | $301,847 |
| Grants payable | $0 |
| Deferred revenue | -$13 |
| 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 | $2,421,178 |
| Total liabilities | $2,723,012 |
| Net assets without donor restrictions | $1,287,304 |
| Net assets with donor restrictions | $0 |
| 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 | $4,010,316 |