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Cov INC

Murfreesboro, TNUnknown exempt organizationEIN 32-0582177Revenue $387K in FY2024

On file with the IRScodeofvets.com4183 Franklin Rd Ste B-1 220 · Murfreesboro, TN

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Cov INC disburses funds to veterans in need who have been honorably discharged from military service and their families who are in need, crisis, or distress.

29¢ of each $1 spent went to programs.
Run by 7 volunteers.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $5K a year · under 1% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
29%
of spending
Concern: 29% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Named funders
2
named funders · $8K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$387K
-11% vs prior year
Spent
$389K
To programs
29%
Net assets
$56K
By yearFY2020–FY2024
Revenue
$387K
FY2024▼ -11%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.8M
FY2021$2.2M
FY2022$1.1M
FY2023$437K
FY2024$387K
Expenses
$389K
FY2024▼ -11%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.4M
FY2021$2.4M
FY2022$1.3M
FY2023$435K
FY2024$389K
Net assets
$56K
FY2024▼ -3%
Tap a bar for its year
Net assets by fiscal year
FY2020$390K
FY2021$204K
FY2022$56K
FY2023$57K
FY2024$56K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

29 cents of each dollar spent went to programs.

Program services 29% · $113K Management & general 4% · $15K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation
Mike Hackney
Board Member
$0Pt VII · Sec A
Kevin Napper
Board Member
$0Pt VII · Sec A
Doug Nikoli
Board Member
$0Pt VII · Sec A
Nick Polce
Board Member
$0Pt VII · Sec A
Darla Shine
Board Member
$0Pt VII · Sec A
Gretchen Smith
Founder/Dire
$0Pt VII · Sec A
Joseph Smith
President
$0Pt VII · Sec A
Cindy Walter
Secretary
$0Pt VII · Sec A
See Cov INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides financial aid to honorably discharged veterans and their families facing hardship.

Questions for Cov INC

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Provided by the organization

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1 program · $113K · in their own filed words · FY2024
01

Cov inc disburses funds to veterans in need who have been honorably discharged from military service and their families who are in need, crisis, or distress.

$113Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Fidelity Investments Charitable Gift FundFY2024$7K
Xcel Energy FoundationFY2024$870
Total grants receivedfrom 2 funders$8K
Grants paid · 6 grants · $6.4M · 2020–2024
Unitemized GrantFY2024$85,801
Ptsd Foundation of AmericaTX · FY2024$25,531
Unitemized GrantFY2023$398,981
Unitemized GrantFY2022$1,208,600
Unitemized GrantFY2021$2,326,606
Individual RecipientFY2020$2,311,373

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$387K
Ln 12
Other incomeLn 4–11$320K
Gifts and grantsLn 1h$68K
Investment incomeLn 3$12
Money outPt IX
$389K
Ln 25
Programscol B$113K
Managementcol C$15K
Owns and owesPt X
$56K
net assets · Ln 32
Total assetsLn 16$56K
LiabilitiesLn 26$0
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$68K
Investment incomeLn 3$12
Other incomeLn 4–11$320K
Gains on assetsLn 7−$526
Total revenueLn 12$387K
Assets in detailPt X, end of year
Total assetsLn 16$56K
LiabilitiesLn 26$0
Net assetsLn 32$56K
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Total assetsLn 16$56K$0
LiabilitiesLn 26$0$0
Net assetsLn 32$56K$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$26K$26K
Grants to domestic individualsLn 2$86K$86K
Accounting feesLn 11c$13K$13K
Office expensesLn 13$62$62
Depreciation, depletion and amortizationLn 22$186$186
Other expenses (24a–d)Ln 24$3K$1K$1K
Total functional expensesLn 25$128K$113K$15K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $387K$389K−$1K$56K 990 PDF
FY2023 $437K$435K$2K$57K 990 PDF
FY2022 $1.1M$1.3M−$148K$56K 990 PDF
FY2021 $2.2M$2.4M−$187K$204K 990 PDF
FY2020 $2.8M$2.4M$361K$390K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $71,640 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $372,651$67,613
I-9 Program service revenue$0
I-10 Investment incomePrior year $22−$514
I-11 Other revenuePrior year $14,523$4,541
I-12 Total revenuePrior year $387,196$71,640
I-13 Grants and similar amounts paidPrior year $367,071$111,332
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $21,570$16,261
I-18 Total expensesPrior year $388,641$127,593
I-19 Revenue less expensesPrior year −$1,445−$55,953
Part VI · Governance 7 of 7 board members independent, 5 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $71,640 across 6 lines filed
VIII-1f All other contributions, gifts and grants$67,613
VIII-1h Total contributions, gifts and grants$67,613
VIII-3 Investment incomeExcluded from tax $12$12
VIII-7 Net gain or loss on sales of assetsRelated to mission −$526−$526
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $4,541$4,541
VIII-12 Total revenueRelated to mission −$526 · Excluded from tax $4,553$71,640
Part IX · Statement of functional expenses $127,593 across 6 lines filed
IX-1 Grants to domestic organizationsPrograms $25,531$25,531
IX-2 Grants to domestic individualsPrograms $85,801$85,801
IX-11c Accounting feesManagement $13,250$13,250
IX-13 Office expensesManagement $62$62
IX-22 Depreciation, depletion and amortizationManagement $186$186
IX-24 Other expenses (24a–d)Programs $1,312 · Management $1,451$2,763
IX-25 Total functional expensesPrograms $112,644 · Management $14,949 · Fundraising $0$127,593
Part X · Balance sheet $0 assets, 4 lines filed
X-16 Total assetsStart of year $55,953$0
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $55,953$0
X-33 Total liabilities and net assetsStart of year $55,953$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$71,640
XI-2 Total expenses$127,593
XI-3 Revenue less expenses−$55,953
XI-4 Net assets at start of year$55,953
XI-10 Net assets at end of year$0

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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