Covenant Living Of Florida Inc
- Assets
- $65.4m
- Revenue
- $24.0m
- Investments
- $6.8m
- Employees
- 313
- Location
- Plantation, FL
- Founding
- 07/1975
- Data as of
- 09/2023
- EIN
- 52-1115870
Organization Overview
Covenant Living Of Florida Inc is located in Plantation, FL. The organization was established in 1975. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. As of 09/2023, Covenant Living Of Florida Inc employed 313 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Covenant Living Of Florida Inc 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 09/2023, Covenant Living Of Florida Inc generated $24.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $26.6m during the year ending 09/2023. While expenses have increased by 2.5% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
CARE FOR SENIOR ADULTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESIDENTIAL LIVING: THE NUMBER OF PERSONS WHO BENEFITED FROM THE SERVICES WE PROVIDED FOR THE YEAR ENDED SEPTEMBER 30, 2023 WERE AS FOLLOWS:THERE WERE A TOTAL OF 277 RESIDENTS, OCCUPYING 235 APARTMENTS AT 09/30/2023. RESIDENCY FOR THE FISCAL YEAR TOTALED 100,370 RESIDENT DAYS.
ASSISTED LIVING: THE NUMBER OF PERSONS WHO BENEFITED FROM THE SERVICES WE PROVIDED FOR THE YEAR ENDED SEPTEMBER 30, 2023 WERE AS FOLLOWS:THERE WERE A TOTAL OF 24 ASSISTED LIVING RESIDENTS AT 09/30/2023. ASSISTED LIVING RESIDENCY FOR THE FISCAL YEAR TOTALED 8,146 RESIDENT DAYS.ASSISTED LIVING MEMORY SUPPORT: THE NUMBER OF PERSONS WHO BENEFITED FROM THE SERVICES WE PROVIDED FOR THE YEAR ENDED SEPTEMBER 30, 2023 WERE AS FOLLOWS: THERE WERE A TOTAL OF 12 ASSISTED LIVING MEMORY SUPPORT RESIDENTS AT 09/30/2023. ASSISTED LIVING MEMORY SUPPORT RESIDENCY FOR THE FISCAL YEAR TOTALED 4,402 RESIDENT DAYS.
SKILLED NURSING:THE NUMBER OF PERSONS WHO BENEFITED FROM THE SERVICES WE PROVIDED FOR THE YEAR ENDED SEPTEMBER 30, 2023 WERE AS FOLLOWS:THERE WERE A TOTAL OF 55 SKILLED CARE RESIDENTS AT 09/30/2023. SKILLED CARE RESIDENCY FOR THE FISCAL YEAR TOTALED 19,762 RESIDENT DAYS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terri S Cunliffe Director/clcs President/ceo | OfficerTrustee | 1 | $0 |
Jean E Justie Cfo/treasurer/asst Secretary | Officer | 1 | $0 |
David G Erickson Sr VP & Gen Counsel/asst Secretary | Officer | 1 | $0 |
William Rabe Sr VP Enterprise Ops/asst Secretary | Officer | 1 | $0 |
Amy Lacroix Former SVP Community Ops | 0 | $0 | |
Todd Slechta Director/ex-Officio | Trustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rmb General Contractors Construction | 9/29/23 | $2,298,636 |
Healthpro Heritage Llc Therapy | 9/29/23 | $604,681 |
Carpets And Tile Of Coral Way Construction | 9/29/23 | $427,140 |
Sodexo Inc & Affiliates Dining Services | 9/29/23 | $437,940 |
Roth Diversified Construction Construction | 9/29/23 | $315,038 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $375,484 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $380,984 |
| Total Program Service Revenue | $22,333,812 |
| Investment income | $958,655 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $12,360 |
| Net Gain/Loss on Asset Sales | $139,795 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,988,980 |
| 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. | $241,474 |
| Compensation of current officers, directors, key employees. | $241,474 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,424,902 |
| Pension plan accruals and contributions | $144,296 |
| Other employee benefits | $1,169,716 |
| Payroll taxes | $624,990 |
| Fees for services: Management | $96,337 |
| Fees for services: Legal | $65,134 |
| Fees for services: Accounting | $42,787 |
| Fees for services: Lobbying | $174 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,844,872 |
| Advertising and promotion | $180,115 |
| Office expenses | $1,214,077 |
| Information technology | $435,293 |
| Royalties | $0 |
| Occupancy | $1,540,315 |
| Travel | $34,010 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $49,326 |
| Interest | $2,520,499 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,846,231 |
| Insurance | $326,189 |
| All other expenses | $419,108 |
| Total functional expenses | $26,649,608 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $204,275 |
| Savings and temporary cash investments | $261,377 |
| Pledges and grants receivable | $410,070 |
| Accounts receivable, net | $1,364,775 |
| 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 | $10,213 |
| Net Land, buildings, and equipment | $37,868,502 |
| Investments—publicly traded securities | $18,510,310 |
| Investments—other securities | $6,763,552 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $65,393,074 |
| Accounts payable and accrued expenses | $314,874 |
| Grants payable | $0 |
| Deferred revenue | $10,782,993 |
| Tax-exempt bond liabilities | $17,401,111 |
| Escrow or custodial account liability | $47,141 |
| 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 | $58,065,088 |
| Total liabilities | $86,611,207 |
| Net assets without donor restrictions | -$21,591,503 |
| Net assets with donor restrictions | $373,370 |
| 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 | $65,393,074 |