Covenant House EIN 13-2725416 Form 990 (PDF) Claim this org

Covenant House

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Provides transitional living programs and support for young people experiencing homelessness to achieve independence. For fiscal year 2024 it reported $94.6M in revenue, $96.3M in expenses, and $139.9M in net assets.Pt I

Founded
1972
Type
Public charity (501(c)(3)) · Human Services
Location
New York, NY
Website
www.covenanthouse.org
Filings
5 on file (2020–2024)
Revenue
$94.6MFY2024
Expenses
$96.3M
Net assets
$139.9M
People
48
Filings
5
Updates
0
More identity details & actions ⌄
EIN  13-2725416 Public charity (501(c)(3)) New York, NY Founded 1972
Form 990 (PDF)
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Figures match the IRS filing checked 7/7/26 · see original: IRS
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Size
$10–100M
What they do
Provides transitional living programs and support for young people experiencing homelessness to achieve independence.
Leadership
Carlette Mack Chief People · Culture, & Inclusion, Thru Aug 2024 · $516K
Money in and out
$94.6M revenue, $96.3M expenses
Bottom line
78% program efficiency
Where the money goes · FY2024
Total revenue
$94.6M
Pt VIII · Ln 12
Total expenses
$96.3M
Pt IX · Ln 25
Net assets
$139.9M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$1.7M
Where spending went · Part IX cols B–D
Program services $0.78 Management & general $0.10 Fundraising $0.12
Program efficiency
78%
of spending reaches programs-0.03% vs prior filing year
Operating runway
8.1mo
months of highly liquid reserves at operating expense rate▲ +4% vs prior filing year
Surplus margin
-2%
revenue over expenses, this year▼ -242% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$94.6M
FY2024▲ +0.8%
Expenses
$96.3M
FY2024▲ +4%
Total assets
$161.9M
FY2024▲ +1%
Total liabilities
$21.9M
FY2024▼ -12%
Total revenue
$94.6M
Pt VIII · Ln 12
Total expenses
$96.3M
Pt IX · Ln 25
Net assets
$139.9M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$1.7M
Total assetsPt X · Ln 16$161.9M
Program-expense ratioPt IX · col B78%
Voting members of governing bodyPt I · Ln 332
Independent voting membersPt I · Ln 432

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CCovenant House
EINHdr · item D13-2725416
Principal addressHdr · item CNew York, NY
WebsiteHdr · item Jwww.covenanthouse.org
Year of formationHdr · item L1972
State of legal domicileHdr · item MNY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHuman Services (P300)
Ruling yearIRS BMFMar 1973

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a32
Independent voting membersPt VI · Ln 1b32
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Culture, & Inclusion, Thru Aug 2024
$516,140Pt VII · Sec A
President & CEO
$474,264Pt VII · Sec A
Treasurer/CFO, Thru June 2025
$400,496Pt VII · Sec A
Chief Development Officer
$386,818Pt VII · Sec A
Chief Legal Officer/Secretary
$382,820Pt VII · Sec A
Chief Strategy Officer
$371,376Pt VII · Sec A
Chief Program Officer
$371,020Pt VII · Sec A
SVP, Key Partnerships
$303,345Pt VII · Sec A

Carlette Mack Chief People’s $516K as Culture, & Inclusion, Thru Aug 2024 is at the 96th percentile of top reported officer pay among 3123 $10–100M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Carlette Mack Chief People$516,140
William Bedrossian$474,264$388,395
Deirdre Cronin$418,118$346,662$285,397$269,689$260,952
Pamela Kournetas$400,496$388,115$383,268$315,836$285,634$240,126
Jill Vorndran$386,818$366,831$369,173$308,253$300,665$295,793
John Ducoff$382,820$356,163$349,908$282,851$277,774$191,437
Virginia Pryor$371,376
Leslie McGuire$371,020$259,767$246,674$240,386$233,238$223,329

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Mission & Programs · Part III

Where the work happens

3 program services account for $59.9M of program spending, described in the organization's own filed words · FY2024.
01

See Schedule O

Immediate housing (shelter and crisis care)- immediate housingcovenant house welcomes all young people facing homelessness with unconditional love, absolute respect, and relentless support. Our shelter doors are always open, 24/7/365.

$25.9Mprogram expense
02

See Schedule O

Education and employment SERVICES/PUBLIC education and prevention programs- education and employment servicesyoung people arrive at covenant house with dreams that have been disrupted by homelessness. At the time of intake, 23% are employed and 22% are enrolled in school.

$21.9Mprogram expense
03

See Schedule O

Transitional living program - rights of passage "rop"transitional living program - rights of passage "rop"covenant house's transitional living programs, often referred to as "rights of passage or rop, are where young people take their boldest steps toward independence.

$12.1Mprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$91.0M · 96%
Investment income$1.7M · 2%
Program service revenue$927K · 1%
Other revenue$981K · 1%
Contributions & grants96%$91.0M
Investment income2%$1.7M
Program service revenue1%$927K
Other revenue1%$981K
— government grantsLn 1e$955K
Total revenueLn 12$94.6M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.78 Management & general $0.10 Fundraising $0.12
Program services78%$75.2M
Management & general10%$9.9M
Fundraising12%$11.2M
Total functional expensesLn 25$96.3M

Balance Sheet

Part X · end of year
CashLn 1$15.5M
Total assetsLn 16$161.9M
Total liabilitiesLn 26$21.9M
Total net assetsLn 32$139.9M
Months of cash on handcomputed1.9

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $63.3M · Operating expenses (Pt IX) $96.3M · Less non-cash grants $2.6M · Cash operating expenses/yr $93.7M
8.1 months
Where the money goes
Program services
Program services $75.2M · Total expenses $96.3M
78%
Management & General
Management & general $9.9M · Total expenses $96.3M
10%
Fundraising
Fundraising $11.2M · Total expenses $96.3M
12%
Cost to raise $1
Fundraising expense (3-yr avg) $10.5M · Solicited contributions (3-yr avg) $87.9M
$0.12 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $91.0M · Total revenue $94.6M
96%
Government reliance
Government grants $955K · Total revenue $94.6M
1%
Earned-income share
Program service revenue $927K · Total revenue $94.6M
1.0%
Investment reliance
Investment income $1.7M · Total revenue $94.6M
+2%
Program self-sufficiency
Program service revenue $927K · Total expenses $96.3M
1.0%
Growth & trend
Revenue growth (YoY)
This year $94.6M · Prior year $93.9M
+0.8%
Revenue CAGR
FY2019 $93.3M · FY2024 $94.6M
+0.3%
Net-asset trend (YoY)
End of year $139.9M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $94.6M · Expenses $96.3M
-2%
Liabilities-to-Assets
Total liabilities — · Total assets $161.9M
Net-asset ratio
Net assets $139.9M · Total assets $161.9M
86%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $41.7M · Other securities (Pt X, ln 12) $6.1M · Total assets (Pt X, ln 16) $161.9M
30%
People & payroll
Highest Reported Total Compensation
Individual Carlette Mack Chief People · Reported title CULTURE, & INCLUSION, THRU AUG 2024 · Highest reported compensation $516K · Total expenses $96.3M
0.5%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $21.8M · Total expenses $96.3M
23%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 78%
Overhead ratio 10%
Fundraising cost ratio 12%
Revenue growth 0.8%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
See all 7 funders →
Grants paid · 73 grants · $165.9M · 2019–2024
Under 21NY · FY2024$9,821,954
Covenant House New Jersey INCNJ · FY2024$4,499,948
Covenant House California INCCA · FY2024$2,504,426
Covenant House Florida INCFL · FY2024$2,205,367
Ch Pennsylvania Under - 21PA · FY2024$2,056,155
Covenant House Washington DcDC · FY2024$1,648,631
Covenant House TexasTX · FY2024$1,613,467
Covenant House New OrleansLA · FY2024$1,462,594
Covenant House MissouriMO · FY2024$1,435,014
Covenant House Georgia INCGA · FY2024$1,413,443
Covenant House Illinois INCIL · FY2024$1,307,122
Covenant House MichiganMI · FY2024$901,663
Covenant House AlaskaAK · FY2024$861,724
Under 21NY · FY2023$11,246,817
Covenant House New Jersey INCNJ · FY2023$4,079,900
Covenant House Florida INCFL · FY2023$2,451,065
See all 73 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$93.9M revenue · ⤓ 990 PDF
FY2023$88.3M revenue · ⤓ 990 PDF
FY2022$154.7M revenue · ⤓ 990 PDF
FY2021$87.2M revenue · ⤓ 990 PDF
FY2020$93.3M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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