Overview
What is Covenant Woods?
Covenant Woods, established in Mechanicsville, Virginia, in 1883, is a not-for-profit continuing care retirement community encompassing independent living units, assisted living, and nursing beds. The organization, which operates on a 90-acre campus, aims to provide exceptional care, ensuring quality of life and security for its residents. With approximately 545 employees, Covenant Woods offers a comprehensive continuum of care, featuring maintenance-free living, interior and exterior upkeep, and housekeeping. The community's extensive wellness program includes walking trails, outdoor activity spaces, and various social and educational opportunities. Residents can enjoy numerous resources, such as dining venues, a fitness center, indoor saltwater pool, game rooms, art studio, gardening areas, workshops, and a paved walking trail surrounding a stocked pond. Covenant Woods also provides transportation services, 24-hour security, a personal emergency alert system, and access to therapy and clinic services. The mission of Covenant Woods is to offer a benevolent living environment for its residents, in line with the founding vision of its Methodist and Presbyterian origins.
Official website here: www.covenantwoods.com
What are the reviews and ratings of this charity?
Charity Navigator rating: 84% (Three-Star out of Four Star rating)
Covenant Woods received a solid Three-Star rating from Charity Navigator, reflecting a commendable overall score of 84%. This score highlights the organization's strong performance in Accountability & Finance, where it scored 83%, and a slightly higher score of 85% in Culture & Community. The high ratings in feedback collection and usage indicate that the organization actively engages with its community and values input from stakeholders.
Strengths of Covenant Woods include a fully independent board, with 100% of its 15 members meeting this criterion, ensuring that decisions are made without conflicting interests. The organization also demonstrates strong financial oversight, with perfect scores in audit and oversight practices. Additionally, the program expense ratio of 68.16% suggests a significant portion of funds is directed toward its mission-related activities, reinforcing its commitment to transparency and effective resource allocation.
However, there are areas for improvement, particularly in the equity strategies score, which stands at 77 out of 100. While the organization excels in many aspects, enhancing its equity initiatives could further strengthen its overall effectiveness and community impact. Despite this, Covenant Woods appears to be a well-managed nonprofit with a solid foundation for growth and community engagement.
This AI summary has been generated from information found on Charity Navigator.
Is Covenant Woods legitimate?
Covenant Woods is a legitimate nonprofit organization registered as a 501(c)(3) entity. Covenant Woods 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $15,490,553
For more financial information, click here
Official website here: www.covenantwoods.com
What is the mission statement of Covenant Woods?
Covenant Woods, a not-for-profit continuing care retirement community, is dedicated to providing exceptional care, enhancing quality of life, and ensuring security and comfort for its residents. Established with a benevolent vision by its Methodist and Presbyterian founders in 1883, the organization offers an extensive continuum of care and active lifestyles. With a mission to maintain a broad wellness program, Covenant Woods facilitates various activities such as walking trails, outdoor spaces, musical performances, lectures, and social gatherings. The community provides maintenance-free living with interior and exterior maintenance, lawn care, snow removal, and housekeeping. Numerous resources are available to residents, including various dining venue choices, a fitness center, therapy and clinic services, transportation, 24-hour security, and a personal emergency alert system. Covenant Woods' commitment is to improve the lives of its residents, offering them a secure and comfortable environment.
Official website here: www.covenantwoods.com
Who is the CEO of Covenant Woods?
Erik Mauritsen is the Chair of Covenant Woods. The CEO's salary of Covenant Woods is $150,211 and their total compensation is $152,804.
Official website here: www.covenantwoods.com
What is the revenue of Covenant Woods?
Covenant Woods's revenue in 2022 was $38,635,107.
Official website here: www.covenantwoods.com
Who are the executives of Covenant Woods and what are their salaries?
The average compensation at Covenant Woods during 2022 was $28,423. There are 545 employees and 175 volunteers at Covenant Woods.
Here are 24 key members and their salaries (Covenant Woods's CEO's salary is $150,211 and their total compensation is $152,804):
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- Compensation: $384,226
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- Other: $17,911
- Compensation: $150,211
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- Other: $2,593
- Compensation: $273,761
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- Other: $20,224
- Compensation: $154,431
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- Compensation: $150,507
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- Other: $10,052
- Compensation: $151,863
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- Other: $18,412
Official website here: www.covenantwoods.com
Where can I find the form 990 for Covenant Woods?
Covenant Woods's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.covenantwoods.com
Learn more at the official website: www.covenantwoods.com
Mission Statement of Covenant Woods
Covenant Woods, a renowned not-for-profit continuing care retirement community, is dedicated to providing its residents with exceptional care, quality of life, and a sense of security and comfort. Following the benevolent vision of its Methodist and Presbyterian founders in 1883, this community aims to create an environment where seniors can live out their golden years with active lifestyles, personal freedom, and financial and physical security.
Covenant Woods is more than just a place to live; it's a comprehensive community that offers an extensive continuum of care. The community consists of 231 independent living units, 60 assisted living units, and 62 licensed nursing beds. The mission to care for its residents goes beyond the mere provision of shelter. It encompasses offering maintenance-free living with interior and exterior maintenance, lawn care, and snow removal all included. Additionally, residents have access to numerous resources such as four dining venue choices, a fitness center and indoor saltwater swimming pool, game and event spaces, billiards room, art studio, gardening areas, woodworking and pottery shops, and a paved walking trail surrounding a stocked pond.
The exceptional care provided at Covenant Woods goes beyond the physical aspects. The community offers transportation services, 24-hour security, a personal emergency alert system, therapy, and clinic services. The caring and compassionate team at Covenant Woods ensures that its residents have access to all the resources they need to live comfortably and securely. With a strong commitment to their mission, Covenant Woods strives to create a vibrant and engaging community where seniors can truly thrive.
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Impact
October, 2024
Covenant Woods significantly enhances the quality of life for seniors by providing a nurturing and engaging environment within a comprehensive continuing care retirement community. Located in Mechanicsville, Virginia, it offers a wide array of living options, including independent and assisted living, alongside licensed nursing care, ensuring that residents have access to the support they need as their needs change over time.
With a focus on active lifestyles and personal freedom, Covenant Woods fosters a sense of community through extensive wellness programs that incorporate outdoor activities, walking trails, and social gatherings such as musical performances, lectures, and classes. The campus, set on 90 private acres, encourages residents to remain physically active and socially engaged, which is vital for mental and emotional well-being.
The community also emphasizes convenience and comfort with maintenance-free living, which includes housekeeping, lawn care, and other essential services, allowing residents to focus on enjoying their lives without the burdens of home maintenance. Amenities such as multiple dining venues, a fitness center, an indoor saltwater swimming pool, and creative spaces for art and woodworking further enrich the living experience.
Safety and security are paramount, with 24-hour security, an emergency alert system, and available transportation services. Additionally, Covenant Woods is deeply committed to delivering exceptional care that aligns with its mission, rooted in the benevolent vision of its founders. Through its comprehensive approach to senior living, Covenant Woods provides both peace of mind and a vibrant community that positively impacts the lives of its residents.
This information is meant to be a general summary of Covenant Woods. 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 2022.
- Investment Income: $5,623,600
- Program Service Revenue: $31,318,239
- Gross Receipts: $38,821,586
Assets and Liabilities:
- Total Assets: $166,902,923
- Total Liabilities: $145,319,966
- Net Assets: $21,582,957
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RESIDENTIAL SERVICES
Revenue
$15,875,961
HEALTHCARE SERVICES
Revenue
$11,417,048
HOME HEALTH SERVICES
Revenue
$4,025,230
Organization Details
Founding Year
1901
Phone
(804) 569-8000Principal Officer
Erik Mauritsen
Main Address
7090 COVENANT WOODS DRIVE, MECHANICSVILLE, VA, 23111
Website
www.covenantwoods.comNTEE Category
Code: E91 - Health
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