Covenant Network
- Assets
- $5.7m
- Revenue
- $1.8m
- Investments
- $9.7k
- Employees
- 14
- Location
- Saint Louis, MO
- Founding
- 05/1997
- Data as of
- 04/2022
- EIN
- 43-1768606
Organization Overview
Covenant Network is located in Saint Louis, MO. The organization was established in 1997. According to its NTEE Classification (X21) the organization is classified as: Protestant, under the broad grouping of Religion-Related and related organizations. As of 04/2022, Covenant Network employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Covenant Network 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 04/2022, Covenant Network generated $1.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $1.6m during the year ending 04/2022. While expenses have increased by 7.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SHARE AND TEACH THE CATHOLIC FAITH PRIMARILY THROUGH RADIO AND TO DISTRIBUTE RELIGIOUS MATERIALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATING EXPENSES FOR SEVENTEEN FULL POWER CATHOLIC RADIO STATIONS AND TWENTY-SIX TRANSLATOR STATIONS WHICH ARE PART OF THE ORGANIZATION AND TO A LESSER EXTENT DISTRIBUTION OF MATERIALS TO SHARE AND TEACH THE CATHOLIC FAITH. UNKNOWN NUMBER OF LISTENERS SERVED FOR 43 BROADCAST FACILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John A Holman General Manager | OfficerTrustee | 40 | $77,804 |
Teresa Holman Assistant Manager/developm | OfficerTrustee | 40 | $61,574 |
Tammy Keppner Treasurer | OfficerTrustee | 0.01 | $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 | $1,824,487 |
| Noncash contributions included in lines 1a–1f | $16,270 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,824,487 |
| Total Program Service Revenue | $42,191 |
| Investment income | $2,730 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$27,059 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,842,852 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,675 |
| 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. | $146,624 |
| Compensation of current officers, directors, key employees. | $27,829 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $419,281 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $73,929 |
| Payroll taxes | $41,990 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,582 |
| Fees for services: Accounting | $30,415 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $27,849 |
| Advertising and promotion | $3,454 |
| Office expenses | $180,044 |
| Information technology | $38,313 |
| Royalties | $0 |
| Occupancy | $343,252 |
| Travel | $7,441 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $36,544 |
| Interest | $1,640 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $127,928 |
| Insurance | $64,472 |
| All other expenses | $0 |
| Total functional expenses | $1,626,446 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $192,513 |
| Savings and temporary cash investments | $4,516,611 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $944,454 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $9,655 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $890 |
| Total assets | $5,664,123 |
| Accounts payable and accrued expenses | $0 |
| 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 | $1,317 |
| Total liabilities | $1,317 |
| Net assets without donor restrictions | $5,537,534 |
| Net assets with donor restrictions | $125,272 |
| 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 | $5,664,123 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Covenant Network has recieved totaling $74,500.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: RELIGION RELATED | $48,000 |
Roman Catholic Foundation Of Eastern Missouri St Louis, MO PURPOSE: DONOR RECOMMENDED GRANTS | $20,500 |
American Endowment Foundation Hudson, OH PURPOSE: RELIGION | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Relevant Radio Inc Lincolnshire, IL | $100,083,301 | $30,552,688 |
Woodhaven Learning Center Columbia, MO | $17,651,573 | $16,164,282 |
Josiah Venture Nfp Wheaton, IL | $16,890,117 | $13,544,001 |
Cbmc Inc Chattanooga, TN | $8,634,915 | $10,793,711 |
Alpha Usa Naperville, IL | $4,051,813 | $10,198,645 |
Wesley Village Inc Macomb, IL | $11,643,378 | $8,896,317 |
Presbyterian Village Inc Little Rock, AR | $7,163,719 | $8,947,997 |
Mercy Multiplied America Inc Nashville, TN | $15,008,837 | $12,307,052 |
Outreach Foundation Of The Presbyterian Church Inc Franklin, TN | $10,682,704 | $9,066,746 |
Doulos Ministries Inc Independence, MO | $17,094,809 | $7,030,778 |
Good Shepherd Lutheran Community Blair, NE | $4,394,791 | $5,136,170 |
International Messengers Clear Lake, IA | $5,781,763 | $6,946,691 |