Overview
What is Covenant Homes Incorporated?
Covenant Homes Incorporated, situated in Rocky Mount, North Carolina, is a dedicated nonprofit organization. Their primary focus is on providing suitable housing for the elderly and individuals with disabilities. The organization's mission reflects a deep commitment to ensuring the elderly and handicapped have access to comfortable and supportive living environments. While specific details about their programs, services, or reach beyond Rocky Mount are not provided in the information, it is clear that Covenant Homes Incorporated prioritizes the well-being and housing needs of this specific demographic.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Star Rating
Covenant Homes Incorporated has achieved a Three-Star rating from Charity Navigator, indicating a solid performance in accountability and finance. The overall score is derived exclusively from their accountability and finance metrics, where they scored 79%. This score reflects the organization’s commitment to transparency and responsible financial practices.
The organization demonstrates strong governance with 100% of its board members being independent, which contributes positively to its accountability score. Furthermore, they have robust policies in place, including those for conflict of interest and whistleblower protections. Their financial oversight is also commendable, with an audit and oversight committee in place, and no material diversion of assets reported.
However, a notable limitation in their financial health is indicated by a high liabilities-to-assets ratio of 295.74%, which raises some concerns about their financial stability. Despite this, their program expense ratio of 76.02% suggests that a significant portion of their resources is directed towards their programs, reflecting a focus on mission fulfillment.
This AI summary has been generated from information found on Charity Navigator.
Is Covenant Homes Incorporated legitimate?
Covenant Homes Incorporated is a legitimate nonprofit organization registered as a 501(c)(3) entity. Covenant Homes Incorporated 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: $142,356
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What is the mission statement of Covenant Homes Incorporated?
Covenant Homes Incorporated is dedicated to providing housing solutions for the elderly and individuals with disabilities. Their mission is centered around offering a living environment that caters to the needs of these populations, aiming to enhance their quality of life. This senior housing program is committed to creating an inclusive and supportive community where everyone can age with dignity and independence.
Who is the CEO of Covenant Homes Incorporated?
Nancy Richardson is the President of Covenant Homes Incorporated.
What is the revenue of Covenant Homes Incorporated?
Covenant Homes Incorporated's revenue in 2022 was $848,511.
Who are the executives of Covenant Homes Incorporated and what are their salaries?
The average compensation at Covenant Homes Incorporated during 2022 was $23,726. There are 6 employees at Covenant Homes Incorporated.
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Where can I find the form 990 for Covenant Homes Incorporated?
Covenant Homes Incorporated's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Covenant Homes Incorporated
Covenant Homes Incorporated, a nonprofit organization, is dedicated to providing housing solutions for the elderly and handicapped. Their mission is centered around ensuring that these individuals have a suitable living environment. The organization strives to meet the unique needs of its residents, offering them a secure and supportive place to call home. By focusing on housing for the elderly and handicapped, Covenant Homes Incorporated aims to enhance the quality of life for its residents, providing them with a sense of independence and security.
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Impact
July, 2024
Covenant Homes Incorporated provides essential housing for the elderly and handicapped individuals in Rocky Mount, NC. By offering a retirement home or senior housing program, Covenant Homes Incorporated positively impacts the lives of its residents by ensuring they have a safe and supportive environment to call home. This organization plays a crucial role in meeting the housing needs of vulnerable populations, contributing to their well-being and quality of life. Through their dedicated mission of providing housing for the elderly and handicapped, Covenant Homes Incorporated makes a significant difference in the local community by promoting inclusivity and care for those in need.
This information is meant to be a general summary of Covenant Homes Incorporated. 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: $35
- Program Service Revenue: $309,678
- Gross Receipts: $848,511
Assets and Liabilities:
- Total Assets: $710,116
- Total Liabilities: $2,100,148
- Net Assets: -$1,390,032
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$307,813
LAUNDRY AND VENDING
Revenue
$1,865
Organization Details
Founding Year
1978
Phone
(252) 443-2323Principal Officer
Nancy Richardson
Main Address
135 COVENANT COURT, ROCKY MOUNT, NC, 27804
NTEE Category
Code: L220 - Housing
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