Overview
What is Covenant Health?
Covenant Health is a community-owned health system based in Knoxville, Tennessee, with over 11,000 employees, affiliated physicians, and volunteers. Established in 1996 through the consolidation of two local healthcare systems, Covenant Health is governed by a board of community leaders and medical professionals. It operates nine acute care hospitals and includes Covenant Medical Group, with over 200 physicians and advanced practice clinicians. Covenant Health's mission is to enhance the region's quality of life by providing better health services, regardless of a patient's ability to pay. Affiliated organizations include cancer centers, foundations, and other healthcare entities. Their system-level divisions support the organization's mission by facilitating operations in information technology, business office management, and human resources, among others.
Official website here: www.covenanthealth.com/
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Star rating)
Covenant Health has achieved a commendable Four-Star rating from Charity Navigator, with a strong overall score of 94% based solely on its Accountability & Finance metrics. This high score reflects the organization’s commitment to transparency and effective financial management, indicating that it utilizes a significant portion of its funds towards its programs.
The organization demonstrates excellence in governance, with 91% of its board members being independent, which strengthens its accountability framework. Key indicators like a high program expense ratio of 91.75% further illustrate that Covenant Health prioritizes its mission-driven activities, ensuring that most financial resources are directed towards fulfilling its charitable objectives.
While the organization performs well in various financial metrics and governance practices, it is essential for potential donors to note the liabilities to assets ratio of 52.34%. This figure suggests that while Covenant Health is managing its finances well, there could be considerations regarding its overall financial risk, which should be taken into account when evaluating the organization’s long-term sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Covenant Health legitimate?
Covenant Health is a legitimate nonprofit organization registered as a 501(c)(3) entity. Covenant Health 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: $10,960,772
Professional Fundraising Fees: $0
Other Salaries and Wages: $67,542,487
For more financial information, click here
Official website here: www.covenanthealth.com/
What is the mission statement of Covenant Health?
Covenant Health is a community-owned health system dedicated to enhancing the health and wellbeing of the people it serves. Established in 1996, the organization brings together various hospitals and healthcare organizations under its umbrella to support their mission of improving community health regardless of a patient's ability to pay. With a extensive team of employees, affiliated physicians, and volunteers, Covenant Health operates numerous hospitals and healthcare facilities. Their mission is backed by various divisions and departments, such as information technology, business office, and human resources, that facilitate the not-for-profit organization's operations. Covenant Health's dedication to community health extends beyond medical care, as it also includes philanthropic organizations that help raise funds for health-related services, equipment, and resources.
Official website here: www.covenanthealth.com/
Who is the CEO of Covenant Health?
James D Vandersteeg is the President & Ceo of Covenant Health. The CEO's salary of Covenant Health is $2,346,646 and their total compensation is $2,662,703.
Official website here: www.covenanthealth.com/
What is the revenue of Covenant Health?
Covenant Health's revenue in 2022 was $220,269,899.
Official website here: www.covenanthealth.com/
Who are the executives of Covenant Health and what are their salaries?
The average compensation at Covenant Health during 2022 was $55,676. There are 1410 employees and 22 volunteers at Covenant Health.
Here are 42 key members and their salaries (Covenant Health's CEO's salary is $2,346,646 and their total compensation is $2,662,703):
- Compensation: $0
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- Compensation: $268
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- Other: $0
- Compensation: $849
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- Other: $0
- Compensation: $74
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- Other: $0
- Compensation: $1,432
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- Other: $0
- Compensation: $889
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- Other: $0
- Compensation: $1,538
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- Other: $0
- Compensation: $906
- Related: $0
- Other: $0
- Compensation: $1,097
- Related: $0
- Other: $0
- Compensation: $1,208
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- Compensation: $1,050
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- Compensation: $1,485
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- Other: $0
- Compensation: $1,251
- Related: $0
- Other: $0
- Compensation: $1,408
- Related: $0
- Other: $0
- Compensation: $979
- Related: $0
- Other: $0
- Compensation: $1,208
- Related: $0
- Other: $0
- Compensation: $2,346,646
- Related: $0
- Other: $316,057
- Compensation: $1,099,851
- Related: $0
- Other: $33,916
- Compensation: $369,567
- Related: $0
- Other: $42,454
- Compensation: $102,781
- Related: $0
- Other: $18,876
- Compensation: $103,159
- Related: $0
- Other: $34,402
- Compensation: $898,340
- Related: $0
- Other: $88,783
- Compensation: $770,403
- Related: $0
- Other: $69,788
- Compensation: $835,157
- Related: $0
- Other: $31,825
- Compensation: $607,755
- Related: $0
- Other: $41,785
- Compensation: $553,822
- Related: $0
- Other: $33,243
- Compensation: $529,114
- Related: $0
- Other: $44,879
- Compensation: $498,870
- Related: $0
- Other: $22,406
- Compensation: $475,922
- Related: $0
- Other: $40,674
- Compensation: $442,049
- Related: $0
- Other: $13,499
- Compensation: $437,289
- Related: $0
- Other: $41,917
- Compensation: $653,393
- Related: $0
- Other: $34,275
- Compensation: $533,789
- Related: $0
- Other: $41,284
- Compensation: $481,299
- Related: $0
- Other: $23,477
- Compensation: $436,865
- Related: $0
- Other: $23,935
- Compensation: $480,721
- Related: $0
- Other: $24,684
Official website here: www.covenanthealth.com/
Where can I find the form 990 for Covenant Health?
Covenant Health's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.covenanthealth.com/
Learn more at the official website: www.covenanthealth.com/
Mission Statement of Covenant Health
Covenant Health, a community-owned health care system headquartered in East Tennessee, is dedicated to enhancing the well-being of the people it serves. Established in 1996 through the consolidation of Fort Sanders Health System and MMC HealthCare System, this not-for-profit organization is spearheaded by a board of directors consisting of community leaders and medical professionals. With over 11,000 employees, affiliated physicians, and volunteers, Covenant Health ranks as the largest employer in the Knoxville area.
Covenant Health's mission revolves around providing quality health care services to the community, irrespective of a patient's ability to pay. This comprehensive health system encompasses nine acute care hospitals spread across East Tennessee, as well as various divisions and affiliated organizations. These entities collaborate to support and facilitate the mission of enhancing the region's overall quality of life through better health.
The health system includes a vast array of services, such as cancer treatment through Thompson Cancer Survival Center and Thompson Oncology Group, behavioral health care at Peninsula, home health care with Covenant HomeCare, and perinatal care at Fort Sanders Perinatal Center. Furthermore, Covenant Health houses several philanthropic organizations like Fort Sanders Foundation and Thompson Cancer Survival Center Foundation, which raise funds for patient care services, equipment, and resources.
Covenant Health's operational divisions, like information technology, business office, and health information management, work in unison to support the mission of this community-focused organization. Additionally, system-wide departments, such as human resources, learning and leadership development, and others, play a crucial role in strengthening the organization's commitment to improving the health and well-being of those it serves.
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Impact
October, 2024
Covenant Health significantly impacts the health and well-being of communities in East Tennessee by providing a wide range of healthcare services through its comprehensive, community-owned health system. Established in 1996, it has grown to become the largest employer in the Knoxville area, with over 11,000 employees and a vast network of affiliated physicians and volunteers.
The health system operates nine acute care hospitals, a behavioral health hospital, and numerous outpatient facilities, ensuring that essential medical services are accessible to the region's diverse population. Covenant Health prioritizes patient-centered care and is dedicated to enhancing the quality of life for residents, regardless of their ability to pay.
In addition to clinical services, Covenant Health actively invests in community health improvements through philanthropic efforts, benefiting from contributions raised by various foundations associated with the organization. These funds support initiatives aimed at providing advanced medical equipment, services, and programs that elevate patient care standards.
Covenant Health's commitment to health equity is reflected in its mission to serve all members of the community, illustrating a profound dedication to improving overall health outcomes and fostering a healthier environment in East Tennessee. Through its operational support divisions, the organization enhances its quality of services while fulfilling its mission to make a positive difference in the lives of those it serves.
This information is meant to be a general summary of Covenant Health. 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: $69,761,345
- Program Service Revenue: $150,160,776
- Gross Receipts: $224,946,121
Assets and Liabilities:
- Total Assets: $1,741,953,217
- Total Liabilities: $1,153,941,621
- Net Assets: $588,011,596
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Management Fees
Revenue
$148,702,027
Telephone Services
Revenue
$613,046
Health Information Admin
Revenue
$524,673
Other Program Services
Revenue
$315,807
Transcription Fees
Revenue
$5,223
Organization Details
Founding Year
1996
Phone
(865) 374-3140Principal Officer
James D Vandersteeg
Main Address
1420 Centerpoint Blvd Bldg C, Knoxville, TN, 379321960
Website
www.covenanthealth.com/NTEE Category
Code: E210 - Health
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