Covenant Charities Foundation: Nonprofit Profile, Financials & Form 990 (EIN 87-2144589)

Revenue by fiscal year
FY2021	$12.3M
FY2022	$287K
FY2023	$68K
FY2024	$4.5M

Expenses by fiscal year
FY2021	$4K
FY2022	$200K
FY2023	$60K
FY2024	$8.1M

Net assets by fiscal year
FY2021	$12.3M
FY2022	$12.1M
FY2023	$12.8M
FY2024	$10.2M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2001.

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

Where the money goes

100 cents of each dollar spent went to programs.

100%

Program services 100% · $8.1M Management & general 0% · $2K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation

Rebecca Broadfoot Cullum

Trustee

$0Pt VII · Sec A

Kristen M Lewis

Trustee

$0Pt VII · Sec A

Robert H Alpert

Trustee

$0Pt VII · Sec A

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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 15aYes

Programs and updates

Funds charities to achieve their charitable goals.

Provided by the organization

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1 program · $8.1M · in their own filed words · FY2024

01

The organization provided funding to charities in fulfillment of the exempt purposes of national christian charitable foundation, inc. ("NCCF").

$8.1Mprogram 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

Natl Christian Charitable Fdn INCFY2024$3.6M

Total grants receivedfrom 1 funder$3.6M

Grants paid · 3 grants · $8.3M · 2022–2024

Natl Christian Charitable Fdn INCGA · FY2024$8,059,586

Natl Christian Charitable Fdn INCGA · FY2023$56,957

Natl Christian Charitable Fdn INCGA · FY2022$181,075

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$4.5M

Ln 12

Gifts and grantsLn 1h$3.6M

Investment incomeLn 3$867K

Other incomeLn 4–11$5K

Money outPt IX

$8.1M

Ln 25

Programscol B$8.1M

Managementcol C$2K

Owns and owesPt X

$10.2M

net assets · Ln 32

Cash and savingsLn 1–2$3.2M

Total assetsLn 16$10.2M

LiabilitiesLn 26$15K

PeoplePt VI, VII

3

listed · VII A

PaidVII A0

Voting boardVI 1a3

IndependentVI 1b2

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$3.6M

Investment incomeLn 3$867K

Other incomeLn 4–11$5K

Gains on assetsLn 7$596K

Total revenueLn 12$4.5M

Assets in detailPt X, end of year

CashLn 1$83K

SavingsLn 2$3.1M

Cash and savings togetherLn 1–2$3.2M

InvestmentsLn 11–13$6.6M

Total assetsLn 16$10.2M

LiabilitiesLn 26$15K

Net assetsLn 32$10.2M

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$754K	$3.2M
InvestmentsLn 11–13	$11.7M	$6.6M
Total assetsLn 16	$12.8M	$10.2M
LiabilitiesLn 26	$14K	$15K
Net assetsLn 32	$12.8M	$10.2M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$8.1M	$8.1M
Legal feesLn 11b	$712		$712
Office expensesLn 13	$18		$18
Information technologyLn 14	$64		$64
InterestLn 20	$20		$20
Other expenses (24a–d)Ln 24	$1K		$1K
Total functional expensesLn 25	$8.1M	$8.1M	$2K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest Viewing	$4.5M	$8.1M	−$3.6M	$10.2M	990 PDF
FY2023	$68K	$60K	$9K	$12.8M	990 PDF
FY2022	$287K	$200K	$87K	$12.1M	990 PDF
FY2021	$12.3M	$4K	$12.3M	$12.3M	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 FY2024 990 (6 parts)

Part I · Summary $4,489,950 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$3,617,654

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $47,602$867,340

I-11 Other revenuePrior year $20,854$4,956

I-12 Total revenuePrior year $68,456$4,489,950

I-13 Grants and similar amounts paidPrior year $56,957$8,059,586

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 $2,739$2,167

I-18 Total expensesPrior year $59,696$8,061,753

I-19 Revenue less expensesPrior year $8,760−$3,571,803

Part VI · Governance 2 of 3 board members independent, no flags

VI-1a Voting members of the governing body3

VI-1b Independent voting members2

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $4,489,950 across 6 lines filed

VIII-1d Related organizations$3,617,654

VIII-1h Total contributions, gifts and grants$3,617,654

VIII-3 Investment incomeExcluded from tax $271,556$271,556

VIII-7 Net gain or loss on sales of assetsExcluded from tax $595,784$595,784

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business $4,956$4,956

VIII-12 Total revenueRelated to mission $0 · Unrelated business $4,956 · Excluded from tax $867,340$4,489,950

Part IX · Statement of functional expenses $8,061,753 across 6 lines filed

IX-1 Grants to domestic organizationsPrograms $8,059,586$8,059,586

IX-11b Legal feesManagement $712$712

IX-13 Office expensesManagement $18$18

IX-14 Information technologyManagement $64$64

IX-20 InterestManagement $20$20

IX-24 Other expenses (24a–d)Management $1,353$1,353

IX-25 Total functional expensesPrograms $8,059,586 · Management $2,167 · Fundraising $0$8,061,753

Part X · Balance sheet $10,225,943 assets, 10 lines filed

Asset lines not itemized here account for $415,000; see the IRS return.

X-1 Cash, non-interest-bearingStart of year $37,639$83,464

X-2 Savings and temporary cash investmentsStart of year $716,351$3,111,168

X-4 Accounts receivableStart of year $4,611$4,957

X-12 Other securitiesStart of year $11,672,625$6,611,354

X-16 Total assetsStart of year $12,846,226$10,225,943

X-18 Grants payable$14,660

X-26 Total liabilitiesStart of year $14,165$14,660

X-27 Net assets without donor restrictionsStart of year $12,832,061$10,211,283

X-32 Total net assets or fund balancesStart of year $12,832,061$10,211,283

X-33 Total liabilities and net assetsStart of year $12,846,226$10,225,943

Part XI · Reconciliation of net assets $10,211,283 net assets at year end

XI-1 Total revenue$4,489,950

XI-2 Total expenses$8,061,753

XI-3 Revenue less expenses−$3,571,803

XI-4 Net assets at start of year$12,832,061

XI-5 Net unrealized gains (losses) on investments$840,456

XI-9 Other changes in net assets$110,569

XI-10 Net assets at end of year$10,211,283

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

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Covenant Charities Foundation

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV