Overview
What is Covenant Medical Group?
Covenant Medical Group is a non-profit, tax-exempt medical foundation headquartered in Lubbock, Texas. It is self-governing in most aspects, with a board of 16 physicians overseeing strategic planning, policy development, recruitment, quality improvement, research, and medical education activities. This physician-friendly structure enables the board members to directly impact their practice through their decisions. The group focuses on providing healthcare services to the communities in West Texas and Eastern New Mexico, with various operational models, including directly owned clinics, rural health clinics, and satellite clinic sites. Covenant Medical Group is committed to serving all, especially the vulnerable populations, as expressions of God's healing love witnessed through the ministry of Jesus. With a strong focus on community health improvement, the organization strives to reduce its carbon footprint and promote environmental stewardship.
Official website here: www.covmedgroup.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Covenant Medical Group holds a Two-Star out of Four Star rating from Charity Navigator, with an overall score of 66%. This rating indicates a need for improvement in various operational areas, particularly in governance. The organization has no independent board members, which raises concerns about accountability and oversight.
Despite governance issues, Covenant Medical Group demonstrates strengths in their financial management, reflected by a high program expense ratio of 93.32%, indicating that a significant portion of their funds is allocated towards programs rather than administrative costs. Furthermore, they have strong scores in financial oversight and compliance, such as having no material diversion of assets and effective conflict of interest and whistleblower policies.
However, the lack of independent board members and the missing tax forms on their website detract from their overall accountability. These limitations suggest a need for the organization to enhance transparency and governance practices to improve their rating and community trust.
This AI summary has been generated from information found on Charity Navigator.
Is Covenant Medical Group legitimate?
Covenant Medical Group is a legitimate nonprofit organization registered as a 501(c)(3) entity. Covenant Medical Group 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: $9,407,739
Professional Fundraising Fees: $0
Other Salaries and Wages: $116,905,920
For more financial information, click here
Official website here: www.covmedgroup.org
What is the mission statement of Covenant Medical Group?
Covenant Medical Group, as an expression of God's healing love, remains steadfast in serving all, especially the poor and vulnerable. Through their advocacy efforts, they strive for needed healthcare reforms and innovative ways to make healthcare more accessible, convenient, and affordable for all. Their commitment to high-quality, compassionate care extends beyond insurance coverage or ability to pay. As a comprehensive healthcare organization, Covenant Medical Group serves millions of lives across seven states, transforming care for the next generation and beyond. Through community benefit programs and strategic investments, they work to ensure basic health needs are met and remove barriers to care, building community resilience and innovating for the future.
Official website here: www.covmedgroup.org
Who is the CEO of Covenant Medical Group?
Kristen Kothmann is the Cmg Ceo of Covenant Medical Group. The CEO's salary of Covenant Medical Group is $504,330 and their total compensation is $580,713.
Official website here: www.covmedgroup.org
What is the revenue of Covenant Medical Group?
Covenant Medical Group's revenue in 2022 was $174,081,657.
Official website here: www.covmedgroup.org
Who are the executives of Covenant Medical Group and what are their salaries?
The average compensation at Covenant Medical Group during 2022 was $104,651. There are 1207 employees at Covenant Medical Group.
Here are 22 key members and their salaries (Covenant Medical Group's CEO's salary is $504,330 and their total compensation is $580,713):
- Compensation: $1,338,601
- Related: $0
- Other: $41,017
- Compensation: $1,210,520
- Related: $0
- Other: $37,133
- Compensation: $1,097,678
- Related: $0
- Other: $112,820
- Compensation: $1,149,980
- Related: $0
- Other: $15,088
- Compensation: $1,098,859
- Related: $0
- Other: $37,402
- Compensation: $904,364
- Related: $0
- Other: $37,538
- Compensation: $877,390
- Related: $0
- Other: $30,705
- Compensation: $837,688
- Related: $0
- Other: $39,656
- Compensation: $693,188
- Related: $0
- Other: $40,049
- Compensation: $681,815
- Related: $0
- Other: $39,802
- Compensation: $673,918
- Related: $0
- Other: $38,275
- Compensation: $659,877
- Related: $0
- Other: $26,510
- Compensation: $584,057
- Related: $0
- Other: $36,693
- Compensation: $565,626
- Related: $0
- Other: $37,374
- Compensation: $504,330
- Related: $0
- Other: $76,383
- Compensation: $523,005
- Related: $0
- Other: $47,616
- Compensation: $419,097
- Related: $0
- Other: $26,163
- Compensation: $287,815
- Related: $0
- Other: $62,961
- Compensation: $0
- Related: $266,060
- Other: $38,171
- Compensation: $261,417
- Related: $0
- Other: $40,036
- Compensation: $256,813
- Related: $0
- Other: $26,652
- Compensation: $52,516
- Related: $0
- Other: $18,408
Official website here: www.covmedgroup.org
Where can I find the form 990 for Covenant Medical Group?
Covenant Medical Group's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.covmedgroup.org
Learn more at the official website: www.covmedgroup.org
Mission Statement of Covenant Medical Group
Covenant Medical Group, a non-profit, tax-exempt medical foundation, is steadfast in its mission to serve all, particularly those who are poor and vulnerable. As expressions of God's healing love, witnessed through the ministry of Jesus, the organization is committed to delivering high-quality, compassionate care for everyone, regardless of coverage or ability to pay.
Covenant Medical Group advocates for vulnerable populations and needed reforms in healthcare. They are also pursuing innovative ways to transform healthcare by keeping people healthy and making services more convenient, accessible, and affordable for all. The organization's self-governing nature, with a board of 16 physicians overseeing strategic planning and policy development, contributes to its physician-friendly environment.
The medical foundation's self-governing aspect allows its board members, all actively practicing within the group, to have a significant impact on their practice through their decisions. With a strong commitment to social responsibility, Covenant Medical Group invests in community benefit programs and initiatives to improve health and well-being and increase equitable access to quality care at the community level and at scale. Their strategic and financial plan clearly expresses their commitment to addressing social, racial, and economic disparities in the communities they serve.
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Impact
October, 2024
Covenant Medical Group significantly impacts the healthcare landscape across seven western states by providing high-quality, compassionate care to millions, particularly focusing on vulnerable populations. Their commitment to serving all individuals—regardless of insurance coverage or financial means—transforms the access and quality of healthcare in the communities they touch.
With a workforce of 117,000 caregivers spanning 51 hospitals and over 1,000 clinics, Covenant Medical Group is dedicated to innovative practices that enhance health outcomes and community resilience. Emphasizing preventive care and the removal of barriers to access, their services are designed to be convenient and affordable.
Covenant Medical Group also leads initiatives aimed at addressing social determinants of health and advocating for necessary reforms in the healthcare system. Their outreach and community benefit programs play a crucial role in meeting basic health needs and fostering more equitable access to care.
By focusing on diversity, equity, and inclusion, alongside environmental stewardship, Covenant Medical Group strives to build a sustainable healthcare model that positively influences local economies and community well-being. Their extensive regional clinic network ensures primary care availability in both urban and rural areas, enhancing the overall health infrastructure and encouraging patients to seek necessary tertiary care in Lubbock and beyond.
Through all these efforts, Covenant Medical Group stands as a vital safety net in the healthcare system, ensuring that high-quality, compassionate care is a reality for everyone in their reach.
This information is meant to be a general summary of Covenant Medical Group. 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: $103,276
- Program Service Revenue: $173,978,381
- Gross Receipts: $174,081,657
Assets and Liabilities:
- Total Assets: $128,517,327
- Total Liabilities: $141,573,088
- Net Assets: -$13,055,761
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NET PATIENT REVENUE
Revenue
$92,466,832
SVCS-EXEMPT AFFILIATES
Revenue
$52,197,601
INTER-AFFILIATE REV.
Revenue
$29,313,948
Organization Details
Founding Year
1997
Phone
(806) 725-9800Principal Officer
Kristen Kothmann
Main Address
1801 LIND AVE SW ATTN TAX DEPT, RENTON, WA, 98057
Website
www.covmedgroup.orgNTEE Category
Code: E310 - Health
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