Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 1988.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
50 cents of each dollar spent went to programs.
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
25 people listed on the 990.
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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 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aNo
Programs and updates
Raises funds to support MercyOne Waterloo Medical Center in meeting the healthcare needs of its patients and the local Iowa community.
Questions for Covenant Foundation INC
Your first name shows with your question. Covenant Foundation INC answers here, for everyone.
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Since 1986, covenant foundation (mercyone waterloo foundation), located in waterloo, iowa, has served as the fundraising arm of covenant medical center (mercyone waterloo medical CENTER).IN fiscal year 2023, the foundation raised over $500,000 from individuals, corporations, and private foundations with assistance from dedicated…
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| InvestmentsLn 11–13 | $6.5M | |
| Total assetsLn 16 | $5.9M | $6.5M |
| LiabilitiesLn 26 | $0 | $0 |
| Net assetsLn 32 | $5.9M | $6.5M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $292K | $292K | ||
| Other salaries and wagesLn 7 | $137K | $34K | $103K | |
| Other employee benefitsLn 9 | $24K | $6K | $18K | |
| Payroll taxesLn 10 | $10K | $2K | $7K | |
| Investment management feesLn 11f | $39K | $39K | ||
| Other fees for servicesLn 11g | $9K | $2K | $7K | |
| Advertising and promotionLn 12 | $26K | $26K | ||
| Office expensesLn 13 | $3K | $720 | $2K | |
| OccupancyLn 16 | $10K | $10K | ||
| TravelLn 17 | $81 | $81 | ||
| Conferences, conventions and meetingsLn 19 | $350 | $350 | ||
| Other expenses (24a–d)Ln 24 | $33K | $18K | $15K | |
| Total functional expensesLn 25 | $584K | $292K | $103K | $189K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $816K | $1.0M | −$197K | $6.7M | 990 PDF |
| FY2024 | $2.1M | $1.3M | $863K | $6.4M | 990 PDF |
| FY2023 Viewing | $830K | $584K | $246K | $6.5M | 990 PDF |
| FY2022 | −$417K | $990K | −$1.4M | $5.9M | 990 PDF |
| FY2021 | $2.1M | $1.8M | $252K | $7.3M | 990 PDF |
| FY2020 | $845K | $1.0M | −$169K | $7.1M | 990 PDF |
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Schedules filed Part IV
See the full FY2023 990 (6 parts)
Part I · Summary $829,989 revenue, 12 lines filed
Part VI · Governance 18 of 23 board members independent, 1 to look at
Part VIII · Statement of revenue $829,989 across 7 lines filed
Part IX · Statement of functional expenses $583,564 across 12 lines filed
Part X · Balance sheet $6,511,961 assets, 8 lines filed
Part XI · Reconciliation of net assets $6,511,961 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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