Covenant House
Covenant House maintains strong assets despite fluctuating revenues and occasional operating deficits.
EIN: 132725416 · New York, NY · NTEE: P300 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $114.6M |
| Total Expenses | $93.5M |
| Program Spending | 75% |
| CEO/Top Officer Pay | $114M |
| Net Assets | $128.0M |
| Transparency Score | 85/100 |
Is Covenant House Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Covenant House directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Covenant House
Covenant House (EIN: 132725416) is a nonprofit organization based in New York, NY, classified under NTEE code P300. The organization reported total revenue of $114.6M and total assets of $159.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Covenant House's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Covenant House is a major nonprofit that has been operating for 53 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $88.3M |
| Total Expenses | $93.5M |
| Surplus / Deficit | $-5,190,723 |
| Total Assets | $154.7M |
| Total Liabilities | $26.7M |
| Net Assets | $128.0M |
| Operating Margin | -5.9% |
| Debt-to-Asset Ratio | 17.2% |
| Months of Reserves | 19.9 months |
Financial Health Grade: B
In 2023, Covenant House reported a deficit of $5.2M with expenses exceeding revenue, holds 19.9 months of operating reserves (strong position), has a debt-to-asset ratio of 17.2% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Covenant House's revenue has grown at a compound annual growth rate (CAGR) of 3.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -42.9% | +0.6% | -0.8% |
| 2022 | +77.4% | +10.9% | -0.4% |
| 2021 | -6.5% | +7.2% | +26.0% |
| 2020 | +32.4% | +10.2% | +4.9% |
| 2019 | -17.3% | -1.8% | +11.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1973 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Covenant House with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Covenant House allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $5.2M, with expenses exceeding revenue.
- Debt-to-asset ratio: 17.2%.
Executive Compensation Analysis
The consistent reporting of 0% for 'Officer Comp' across all available filings is unusual for an organization of this size ($114M+ revenue, $159M+ assets) and suggests executive compensation may be reported under different categories or that the organization relies heavily on non-compensated leadership, which would be highly efficient.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Covenant House's IRS 990 filings:
- Fluctuating revenue with significant year-over-year changes (e.g., $154M in 2022 to $88M in 2023)
- Operating deficits in multiple years (e.g., 2023, 2019, 2017, 2016, 2015, 2014) where expenses exceeded revenue.
Strengths
The following positive indicators were identified for Covenant House:
- Strong and growing asset base ($159,802,055 in latest filing, up from $100,839,467 in 2014).
- Consistent reporting of 0% for 'Officer Comp' suggests high efficiency or transparency in executive pay.
- Long operational history with 13 filings, indicating stability and established presence.
- Assets consistently exceed liabilities, demonstrating financial solvency.
Frequently Asked Questions about Covenant House
Is Covenant House a legitimate charity?
Covenant House (EIN: 132725416) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $114.6M. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Covenant House spend its money?
Covenant House directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Covenant House tax-deductible?
Covenant House is registered as a tax-exempt nonprofit (EIN: 132725416). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Covenant House CEO make?
Covenant House's highest-compensated officer earns $114M annually. The organization reported $114.6M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Covenant House's spending goes to programs?
Covenant House directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Covenant House compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Covenant House is above average for NTEE category P300 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Covenant House located?
Covenant House is headquartered in New York, New York and files with the IRS under EIN 132725416. It is classified under NTEE code P300.
How many years of IRS 990 filings does Covenant House have?
Covenant House has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $114.6M in total revenue.
Is Covenant House financially stable?
Yes, Covenant House appears financially stable, evidenced by its substantial and growing asset base ($159,802,055) which consistently exceeds its liabilities, despite some annual operating deficits.
How has Covenant House's revenue trended recently?
Covenant House's revenue has fluctuated significantly, peaking at $154,746,645 in 2022, then decreasing to $88,308,947 in 2023, after a period of general growth from $62,898,623 in 2014.
What is the organization's approach to executive compensation?
The IRS 990 filings consistently report 0% for 'Officer Comp', which suggests either that executive compensation is reported under other categories, or that the organization operates with uncompensated officers, indicating a highly efficient use of funds in this area.
Does Covenant House spend more than it earns?
In some periods, yes. For example, in 2023, expenses ($93,499,670) exceeded revenue ($88,308,947). However, this is not consistent across all years, and the organization maintains a strong overall asset position.
Filing History
IRS 990 filing history for Covenant House showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Covenant House's revenue has grown by 55.8%, moving from $56.7M to $88.3M. Total assets increased by 65.3% over the same period, from $93.6M to $154.7M. Total functional expenses rose by 50.5%, from $62.1M to $93.5M. In its most recent filing year (2023), Covenant House reported a deficit of $5.2M, with expenses exceeding revenue. The organization holds $26.7M in liabilities against $154.7M in assets (debt-to-asset ratio: 17.2%), resulting in net assets of $128.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $88.3M | $93.5M | $154.7M | $26.7M | — | — |
| 2022 | $154.7M | $92.9M | $155.9M | $26.5M | — | View 990 |
| 2021 | $87.2M | $83.8M | $156.5M | $89.7M | — | View 990 |
| 2020 | $93.3M | $78.2M | $124.2M | $67.9M | — | View 990 |
| 2019 | $70.5M | $70.9M | $118.4M | $66.2M | — | View 990 |
| 2018 | $85.1M | $72.2M | $106.7M | $51.2M | — | View 990 |
| 2017 | $70.6M | $72.9M | $108.7M | $70.8M | — | View 990 |
| 2016 | $68.6M | $72.5M | $105.7M | $68.8M | — | View 990 |
| 2015 | $66.8M | $69.0M | $102.6M | $54.8M | — | View 990 |
| 2014 | $62.9M | $64.1M | $100.8M | $46.2M | — | View 990 |
| 2013 | $58.7M | $66.1M | $106.5M | $51.9M | — | View 990 |
| 2012 | $60.7M | $63.3M | $95.2M | $32.3M | — | View 990 |
| 2011 | $56.7M | $62.1M | $93.6M | $21.3M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $88.3M, expenses of $93.5M, and assets of $154.7M (revenue -42.9% year-over-year).
- 2022: Revenue of $154.7M, expenses of $92.9M, and assets of $155.9M (revenue +77.4% year-over-year).
- 2021: Revenue of $87.2M, expenses of $83.8M, and assets of $156.5M (revenue -6.5% year-over-year).
- 2020: Revenue of $93.3M, expenses of $78.2M, and assets of $124.2M (revenue +32.4% year-over-year).
- 2019: Revenue of $70.5M, expenses of $70.9M, and assets of $118.4M (revenue -17.3% year-over-year).
- 2018: Revenue of $85.1M, expenses of $72.2M, and assets of $106.7M (revenue +20.6% year-over-year).
- 2017: Revenue of $70.6M, expenses of $72.9M, and assets of $108.7M (revenue +2.9% year-over-year).
- 2016: Revenue of $68.6M, expenses of $72.5M, and assets of $105.7M (revenue +2.7% year-over-year).
- 2015: Revenue of $66.8M, expenses of $69.0M, and assets of $102.6M (revenue +6.2% year-over-year).
- 2014: Revenue of $62.9M, expenses of $64.1M, and assets of $100.8M (revenue +7.1% year-over-year).
- 2013: Revenue of $58.7M, expenses of $66.1M, and assets of $106.5M (revenue -3.3% year-over-year).
- 2012: Revenue of $60.7M, expenses of $63.3M, and assets of $95.2M (revenue +7.2% year-over-year).
- 2011: Revenue of $56.7M, expenses of $62.1M, and assets of $93.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Covenant House:
Data Sources and Methodology
This transparency report for Covenant House is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.