Covenant Foundation INC EIN 74-2622129

Covenant Foundation INC

EIN  74-2622129 Private foundation / grantmaker San Antonio, TX
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 8/27/26 · see original filing: IRS
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Size
$1–10M
What they do
A private foundation based in San Antonio, TX. It reported about $3.6M in revenue for 2024.
Leadership
James R Leininger · Chairman/Director
Money in and out
$3.6M revenue, $979K expenses
Bottom line

A private foundation based in San Antonio, TX. It reported about $3.6M in revenue for 2024. For fiscal year 2024 it reported $3.6M in revenue, $979K in expenses, and $4.4M in net assets.Pt I

Grants paid & assets · FY2024
Total revenue
$3.6M
Pt VIII · Ln 12
Total expenses
$979K
Pt IX · Ln 25
Net assets
$4.4M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $2.7M
Total assets
4.4M
deployed as grants and operations
Grants paid
979K
in FY2024
Grants made
34grants
total in period
Payout rate
22%
of assets (5% rule)

Who They Fund

Part XV · grants paid · 34 grants · $979K · 2024–2024
Shelby Kennedy Foundation INCTX · FY2024$500,000
Heritage SchoolFY2024$81,000
Turning Point USA INCIN · FY2024$50,000
Well Versed INCCA · FY2024$25,000
Family Research Council INCDC · FY2024$25,000
Intercessors for America INCVA · FY2024$20,000
First Liberty InstituteTX · FY2024$20,000
OnecryFY2024$20,000
Joni and FriendsCA · FY2024$20,000
Mercy InternationalFY2024$15,000
Summit MinistriesFY2024$13,995
Only a Servant Ministies INCFY2024$12,000
Campus Crusade for ChristFY2024$12,000
Antioch MinistriesFY2024$12,000
Behold IsraelCO · FY2024$10,000
See all 34 grants →

Grantmaking Profile

Patterns in foundation giving
Distinct granteesPart XV14
Average grantPart XV$29K
Median grantPart XV$10K
Largest grantPart XV$500K
Top cause focusNTEEReligion (21%)

Summary of the Filing

Part I · fiscal year 2024 · Form 990-PF
Revenue
$3.6M
FY2024▲ ×226
Expenses
$979K
FY2024▼ -41%
Total assets
$4.4M
FY2024▲ +149%
Total liabilities
$12
FY2024▼ -94%
Total revenue
$3.6M
Pt VIII · Ln 12
Total expenses
$979K
Pt IX · Ln 25
Net assets
$4.4M
Pt X · Ln 32
Total assetsPt II$4.4M

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CCovenant Foundation INC
EINHdr · item D74-2622129
Principal addressHdr · item CSan Antonio, TX
WebsiteHdr · item Jnone reported
State of legal domicileHdr · item MTX
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T22)
Ruling yearIRS BMFApr 2000

Governance & Policies

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

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Chairman/Director
$0Pt VII · Sec A
$0Pt VII · Sec A
President/Asst Sec/Director
$0Pt VII · Sec A
Secretary/Treasurer
$0Pt VII · Sec A
See Covenant Foundation INC executive salaries →

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Statement of Revenue

Part VIII
Contributions & grants$3.5M · 96%
Investment income$134K · 4%
Contributions & grants96%$3.5M
Investment income4%$134K
Total revenueLn 12$3.6M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Grants & contributions paid $1.00 Operating & administrative $0.00
Grants & contributions paid100%$979K
Operating & administrative$705
Total functional expensesLn 25$979K

Balance Sheet

Part X · end of year
CashLn 1$4.4M
Total assetsLn 16$4.4M
Total liabilitiesLn 26$12
Total net assetsLn 32$4.4M
Months of cash on handcomputed54.4

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Payout rate
Grants paid $0 · Total assets $4.4M
0%
Where the money comes from
Contribution dependence
Contributions & grants — · Total revenue $3.6M
Government reliance
not reported
Earned-income share
not reported
Investment reliance
Investment income $0 · Total revenue $3.6M
0%
Program self-sufficiency
not reported
Growth & trend
Revenue growth (YoY)
This year $3.6M · Prior year $16K
Prior-year revenue below floor — showing dollar change
Net-asset trend (YoY)
End of year $4.4M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $3.6M · Expenses $979K
+73%
Liabilities-to-Assets
Total liabilities — · Total assets $4.4M
Net-asset ratio
Net assets $4.4M · Total assets $4.4M
100%
People & payroll
Highest Reported Total Compensation
Individual James R Leininger · Reported title CHAIRMAN/DIRECTOR · Highest reported compensation $0 · Total expenses $979K
0%
Personnel share
not reported
Peer comparison

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

MetricThis orgPeer medianPercentile
Revenue growth ×226

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.

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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 (Latest)$3.6M revenue · viewing · ⤓ 990 PDF
FY2023$16K revenue · ⤓ 990 PDF
FY2022$5.5M revenue · ⤓ 990 PDF
FY2021$5 revenue · ⤓ 990 PDF
FY2020$16K 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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