Overview
What is Covenant Living At The Holmstad Inc?
Covenant Living at The Holmstad Inc, a nonprofit organization based in Batavia, Illinois, is part of Covenant Living Communities and Services. With a mission rooted in Christian community and following the Great Commandment to love and serve, they provide residential and catered living services for senior adults. Their ministry, governed by the Evangelical Covenant Church, served a total of 376 residents in 255 apartments as of September 30, 2022, accumulating 135,693 resident days throughout the fiscal year. The organization, with a staff of 465 employees, aims to celebrate and support the gift of life through quality care for senior adults.
Official website here: www.covliving.org
What are the reviews and ratings of this charity?
Charity Navigator rating: 76%, Three-Star out of Four Star rating.
Covenant Living At The Holmstad Inc has achieved a Three-Star rating, indicating a solid performance in accountability and finance. The charity excels in governance, boasting an entirely independent board comprised of 16 members. Furthermore, the organization has robust financial oversight practices, evidenced by the presence of an Audit and Oversight Committee and a comprehensive conflict of interest policy.
Despite these strengths, the organization faces challenges, particularly in its financial ratios. The liabilities to assets ratio of 125.63% raises concerns about financial stability. Additionally, while the program expense ratio of 65.61% demonstrates a commitment to programmatic spending, it is slightly below ideal benchmarks, suggesting that there may be room for improvement in maximizing resources for mission-driven activities. Overall, Covenant Living At The Holmstad Inc shows a commitment to transparency and responsible governance but must address its financial health for long-term sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Covenant Living At The Holmstad Inc legitimate?
Covenant Living At The Holmstad Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Covenant Living At The Holmstad Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $237,234
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,570,720
For more financial information, click here
Official website here: www.covliving.org
What is the mission statement of Covenant Living At The Holmstad Inc?
Covenant Living at The Holmstad Inc is a ministry of the Evangelical Covenant Church committed to caring for senior adults. Their mission is grounded in the Great Commandment to love and serve God and others, inspired by Jesus Christ. As a community, they celebrate the gift of life and follow this calling by providing residential and catered living services. In the past year, they served a total of 376 residents, accommodating them in 255 apartments, and their residency amounted to 135,693 resident days.
Official website here: www.covliving.org
Who is the CEO of Covenant Living At The Holmstad Inc?
Terri S Cunliffe is the CEO of Covenant Living At The Holmstad Inc The CEO's salary of Covenant Living At The Holmstad Inc is $0 and their total compensation is $969,233.
Official website here: www.covliving.org
What is the revenue of Covenant Living At The Holmstad Inc?
Covenant Living At The Holmstad Inc's revenue in 2023 was $20,745,346.
Official website here: www.covliving.org
Who are the executives of Covenant Living At The Holmstad Inc and what are their salaries?
The average compensation at Covenant Living At The Holmstad Inc during 2023 was $8,774. There are 434 employees and 16 volunteers at Covenant Living At The Holmstad Inc.
Here are 35 key members and their salaries (Covenant Living At The Holmstad Inc's CEO's salary is $0 and their total compensation is $969,233):
- Compensation: $0
- Related: $934,218
- Other: $35,015
- Compensation: $0
- Related: $410,044
- Other: $82,847
- Compensation: $0
- Related: $388,258
- Other: $103,279
- Compensation: $0
- Related: $414,211
- Other: $57,438
- Compensation: $0
- Related: $348,336
- Other: $49,634
- Compensation: $0
- Related: $288,273
- Other: $47,925
- Compensation: $0
- Related: $257,250
- Other: $30,739
- Compensation: $0
- Related: $228,615
- Other: $45,753
- Compensation: $0
- Related: $224,975
- Other: $47,440
- Compensation: $0
- Related: $226,287
- Other: $31,007
- Compensation: $204,048
- Related: $0
- Other: $32,802
- Compensation: $127,793
- Related: $0
- Other: $14,393
- Compensation: $122,323
- Related: $0
- Other: $19,671
- Compensation: $125,901
- Related: $0
- Other: $15,761
- Compensation: $131,875
- Related: $0
- Other: $3,957
- Compensation: $110,503
- Related: $0
- Other: $23,129
- Compensation: $0
- Related: $62,214
- Other: $45,946
- Compensation: $0
- Related: $92,734
- Other: $5,579
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
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- Compensation: $0
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- Compensation: $0
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- Compensation: $0
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- Other: $0
- Compensation: $0
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- Compensation: $0
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- Compensation: $0
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- Compensation: $0
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- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.covliving.org
Where can I find the form 990 for Covenant Living At The Holmstad Inc?
Covenant Living At The Holmstad Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.covliving.org
Learn more at the official website: www.covliving.org
Mission Statement of Covenant Living At The Holmstad Inc
Covenant Living at The Holmstad Inc is a faith-based organization that cherishes the gift of life and embodies the Christian community's values, as a ministry of the Evangelical Covenant Church. The team at Covenant Living prioritizes loving and serving God and one another, as taught by Jesus Christ.
The mission of Covenant Living at The Holmstad Inc is rooted in the belief that every individual is a precious creation deserving of care and respect. The organization offers residential and catered living services for senior adults, accommodating 376 residents and providing a total of 135,693 resident days during the fiscal year. These numbers underscore the significant impact Covenant Living at The Holmstad Inc has on the lives of its residents.
By following the Great Commandment, Covenant Living at The Holmstad Inc fosters an atmosphere of kindness, compassion, and support. The team at Covenant Living does more than just provide a place to live; they create a vibrant community where each resident's spiritual, emotional, and physical needs are met with the utmost care and dedication. In doing so, they ensure that every resident's later years are filled with purpose, joy, and dignity.
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Impact
October, 2024
Covenant Living At The Holmstad Inc provides vital care and support for senior adults, positively impacting their quality of life in the Batavia, IL community. With a residential and catered living facility, it serves 376 residents across 255 apartments, totaling 135,693 resident days for the fiscal year ending September 30, 2022. The organization emphasizes a Christian community, fostering an environment that promotes love, service, and connection, in line with the teachings of Jesus Christ. By meeting the diverse needs of seniors, Covenant Living enhances their daily living experiences, ensuring they feel valued and cared for throughout their residency.
This information is meant to be a general summary of Covenant Living At The Holmstad Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $2,137,139
- Program Service Revenue: $17,373,378
- Gross Receipts: $20,745,346
Assets and Liabilities:
- Total Assets: $74,086,393
- Total Liabilities: $93,079,125
- Net Assets: -$18,992,732
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ROUTINE SERVICES
Revenue
$12,194,433
ENTRANCE FEE
Revenue
$4,781,924
MEALS
Revenue
$282,423
ANCILLARY SERVICES
Revenue
$114,598
Organization Details
Founding Year
1975
Principal Officer
Terri Cunliffe
Website
www.covliving.orgNTEE Category
Code: P750 - Human services
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