The Covenant Endowment Fund: Nonprofit Profile, Financials & Form 990 (EIN 86-1126662)

Revenue by fiscal year
FY2020	$18K
FY2021	$72K
FY2022	$47K
FY2023	$29K
FY2024	$51K
FY2025	$74K

Expenses by fiscal year
FY2020	$28K
FY2021	$28K
FY2022	$32K
FY2023	$27K
FY2024	$30K
FY2025	$33K

Net assets by fiscal year
FY2020	$477K
FY2021	$600K
FY2022	$515K
FY2023	$557K
FY2024	$613K
FY2025	$682K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 2006.

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

Where the money goes

99 cents of each dollar spent went to programs.

99%

Program services 99% · $33K Management & general 1% · $312

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

2 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

Brian Cullaty

Chair

$0Pt VII · Sec A

Steve Luck

Director

$0Pt VII · Sec A

See The Covenant Endowment Fund 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 2No
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Invests donations to fund programs at The Covenant School.

Provided by the organization

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1 program · $33K · in their own filed words · FY2024

01

Funding assistance provided to the covenant school, inc to support the school's financial aid program. The financial aid program provides support for need based families of the school. The covenant school, inc.

$33Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking

Grants paid · 6 grants · $178K · 2019–2024

The Covenant School INCVA · FY2024$32,863

The Covenant School INCVA · FY2023$30,063

The Covenant School INCVA · FY2022$27,243

The Covenant School INCVA · FY2021$31,890

The Covenant School INCVA · FY2020$28,204

The Covenant School INCVA · FY2019$28,175

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$74K

Ln 12

Investment incomeLn 3$39K

Gifts and grantsLn 1h$35K

Money outPt IX

$33K

Ln 25

Programscol B$33K

Managementcol C$312

Owns and owesPt X

$682K

net assets · Ln 32

Cash and savingsLn 1–2$5K

Total assetsLn 16$682K

LiabilitiesLn 26$0

PeoplePt VI, VII

2

listed · VII A

PaidVII A0

Voting boardVI 1a2

IndependentVI 1b2

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$35K

Investment incomeLn 3$39K

Gains on assetsLn 7$21K

Total revenueLn 12$74K

Assets in detailPt X, end of year

CashLn 1$5K

Cash and savings togetherLn 1–2$5K

InvestmentsLn 11–13$677K

Total assetsLn 16$682K

LiabilitiesLn 26$0

Net assetsLn 32$682K

OperationsPt I, VI

EmployeesI 50

VolunteersI 62

Fiscal year endsHeaderJune

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

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$2K	$5K
InvestmentsLn 11–13	$612K	$677K
Total assetsLn 16	$613K	$682K
LiabilitiesLn 26	$0	$0
Net assetsLn 32	$613K	$682K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$33K	$33K
Investment management feesLn 11f	$312		$312
Total functional expensesLn 25	$33K	$33K	$312	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$74K	$33K	$41K	$682K	990 PDF
FY2024	$51K	$30K	$21K	$613K	990 PDF
FY2023	$29K	$27K	$2K	$557K	990 PDF
FY2022	$47K	$32K	$15K	$515K	990 PDF
FY2021	$72K	$28K	$43K	$600K	990 PDF
FY2020	$18K	$28K	−$11K	$477K	990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

See the full FY2025 990 (6 parts)

Part I · Summary $74,365 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $24,900$35,270

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $26,485$39,095

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $51,385$74,365

I-13 Grants and similar amounts paidPrior year $30,063$32,863

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $395$312

I-18 Total expensesPrior year $30,458$33,175

I-19 Revenue less expensesPrior year $20,927$41,190

Part VI · Governance 2 of 2 board members independent, 4 to look at

VI-1a Voting members of the governing body2

VI-1b Independent voting members2

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

VI-2 Family or business relationship among officers or directorsNo

Part VIII · Statement of revenue $74,365 across 5 lines filed

VIII-1f All other contributions, gifts and grants$35,270

VIII-1h Total contributions, gifts and grants$35,270

VIII-3 Investment incomeExcluded from tax $17,954$17,954

VIII-7 Net gain or loss on sales of assetsRelated to mission $21,141$21,141

VIII-12 Total revenueRelated to mission $21,141 · Unrelated business $0 · Excluded from tax $17,954$74,365

Part IX · Statement of functional expenses $33,175 across 2 lines filed

IX-1 Grants to domestic organizationsPrograms $32,863$32,863

IX-11f Investment management feesManagement $312$312

IX-25 Total functional expensesPrograms $32,863 · Management $312 · Fundraising $0$33,175

Part X · Balance sheet $682,253 assets, 7 lines filed

X-1 Cash, non-interest-bearingStart of year $1,945$5,085

X-11 Publicly traded securitiesStart of year $611,523$677,168

X-16 Total assetsStart of year $613,468$682,253

X-26 Total liabilitiesStart of year $0$0

X-28 Net assets with donor restrictionsStart of year $613,468$682,253

X-32 Total net assets or fund balancesStart of year $613,468$682,253

X-33 Total liabilities and net assetsStart of year $613,468$682,253

Part XI · Reconciliation of net assets $682,253 net assets at year end

XI-1 Total revenue$74,365

XI-2 Total expenses$33,175

XI-3 Revenue less expenses$41,190

XI-4 Net assets at start of year$613,468

XI-5 Net unrealized gains (losses) on investments$27,595

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$682,253

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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