Covenant Living Of Cromwell Inc
Covenant Living Of Cromwell Inc consistently operates with expenses exceeding revenue, maintaining high liabilities relative to assets.
EIN: 131740015 · Cromwell, CT · NTEE: P750 · Updated: 2026-03-28
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Covenant Living Of Cromwell Inc is mapped to EIN 131740015.
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13 stored filing years available.
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| Metric | Value |
|---|---|
| Total Revenue | $29.9M |
| Total Expenses | $31.9M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $30 |
| Net Assets | $-6,571,082 |
| Transparency Score | 65/100 |
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Covenant Living Of Cromwell Inc Form 990, Revenue, CEO Pay, and IRS Filing Signals
Covenant Living Of Cromwell Inc is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Covenant Living Of Cromwell Inc in one place.
Form 990 Filing Summary
13 filing years are available, with latest revenue of $27.6M and expenses of $31.9M.
Revenue and Expenses
Covenant Living Of Cromwell Inc reported $27.6M in revenue and $31.9M in expenses, a deficit of $4.4M.
Executive Compensation
Top officer compensation appears as $30 in the stored analysis, with context against revenue and expenses below.
Charity Score and Red Flags
65/100 mission score, 3 red flags, and 2 strengths are shown from structured and AI review.
Is Covenant Living Of Cromwell Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
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Where the Money Comes From and Where It Goes
Revenue Source Mix
Revenue-source line items are not available on the stored filing yet. Future ingestion now preserves contribution, program-revenue, and investment-income fields when ProPublica provides them.
Expense Deployment
| Program services | $28.8M (90%) |
Across stored filings, Covenant Living Of Cromwell Inc shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.
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| Decision Lens | Signal | What to Inspect Next |
|---|---|---|
| Legitimacy | Some Concerns | Good filing record; 3 red flags identified |
| Mission spend | 90% to programs | Excellent |
| Financial durability | Grade C | 13 stored filing years |
| Peer context | Compare with Teen Center Of Wilton Inc | Connecticut and Human Services context |
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Covenant Living Of Cromwell Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Covenant Living Of Cromwell Inc
Covenant Living Of Cromwell Inc (EIN: 131740015) is a nonprofit organization based in Cromwell, CT, classified under NTEE code P750. The organization reported total revenue of $29.9M and total assets of $97.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Covenant Living Of Cromwell Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Covenant Living Of Cromwell Inc is a large nonprofit that has been operating for 51 years, with 13 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 4.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $27.6M |
| Total Expenses | $31.9M |
| Surplus / Deficit | $-4,398,718 |
| Total Assets | $97.7M |
| Total Liabilities | $104.2M |
| Net Assets | $-6,571,082 |
| Operating Margin | -16.0% |
| Debt-to-Asset Ratio | 106.7% |
| Months of Reserves | 36.7 months |
Financial Health Grade: C
In 2023, Covenant Living Of Cromwell Inc reported a deficit of $4.4M with expenses exceeding revenue, holds 36.7 months of operating reserves (strong position), has a debt-to-asset ratio of 106.7% (high leverage).
Financial Trends
Over 13 years of filings (2012–2023), Covenant Living Of Cromwell Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +7.9% | +5.8% | -1.2% |
| 2022 | +8.7% | +22.7% | -2.4% |
| 2021 | +4.3% | +9.3% | -2.7% |
| 2020 | +52.2% | +56.0% | +6.5% |
| 2019 | -28.0% | -31.5% | +0.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 7000 |
| IRS Ruling Date | 1975 |
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 Living Of Cromwell Inc with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 8%
- programs: 90%
- fundraising: 2%
According to IRS 990 filings, Covenant Living Of Cromwell Inc allocates its expenses as follows: admin: 8%, programs: 90%, fundraising: 2%. With 90% 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 $4.4M, with expenses exceeding revenue.
- Debt-to-asset ratio: 106.7%.
Executive Compensation Analysis
The reported 0% officer compensation across all filings is unusual for an organization of this size with nearly $30 million in annual revenue and $97 million in assets. This suggests that executive compensation may be handled by a parent entity or not disclosed in this specific section of the 990, making it difficult to assess compensation relative to organizational scale.
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 Living Of Cromwell Inc's IRS 990 filings:
- Consistent operating deficits (expenses exceeding revenue) in recent years.
- Liabilities consistently exceed assets, indicating a negative net asset position.
- Unusual 0% officer compensation reported, potentially obscuring executive pay structure.
Strengths
The following positive indicators were identified for Covenant Living Of Cromwell Inc:
- Substantial asset base ($97.7M in 2023) providing a foundation for operations.
- Long filing history (13 filings) indicating established operations and compliance.
Frequently Asked Questions about Covenant Living Of Cromwell Inc
Is Covenant Living Of Cromwell Inc a legitimate charity?
Covenant Living Of Cromwell Inc (EIN: 131740015) is a registered tax-exempt nonprofit based in Connecticut. Our AI analysis gives it a Mission Score of 65/100. It has 13 years of IRS 990 filings on record. Total revenue: $29.9M. 3 red flags identified. 2 strengths noted. Financial health grade: C.
How does Covenant Living Of Cromwell Inc spend its money?
Covenant Living Of Cromwell Inc directs 90% of its spending to programs and services. Fundraising costs 2%. This exceeds the 65% industry benchmark.
Are donations to Covenant Living Of Cromwell Inc tax-deductible?
Covenant Living Of Cromwell Inc is registered as a tax-exempt nonprofit (EIN: 131740015). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Covenant Living Of Cromwell Inc CEO make?
Covenant Living Of Cromwell Inc's highest-compensated officer earns $30 annually. The organization reported $29.9M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Covenant Living Of Cromwell Inc's spending goes to programs?
Covenant Living Of Cromwell Inc directs 90% to programs, 2% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Covenant Living Of Cromwell Inc compare to similar nonprofits?
With a transparency score of 65/100 (Good), Covenant Living Of Cromwell Inc is above average for NTEE category P750 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Covenant Living Of Cromwell Inc located?
Covenant Living Of Cromwell Inc is headquartered in Cromwell, Connecticut and files with the IRS under EIN 131740015. It is classified under NTEE code P750.
How many years of IRS 990 filings does Covenant Living Of Cromwell Inc have?
Covenant Living Of Cromwell Inc 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 $29.9M in total revenue.
Is Covenant Living Of Cromwell Inc financially sustainable given its consistent operating deficits?
The organization has consistently reported expenses exceeding revenue in recent years (e.g., $31.9M expenses vs. $27.5M revenue in 2023). While assets are substantial at $97.7M, the ongoing deficits suggest a reliance on other funding mechanisms or a draw on reserves, which could impact long-term sustainability if not addressed.
Why is officer compensation consistently reported as 0%?
The consistent reporting of 0% officer compensation across all filings is atypical for an organization of this size. This could indicate that executive compensation is paid by a parent organization, or it is not reported in the specific section of the 990 that was analyzed, making it difficult to assess leadership costs.
What is the nature of the high liabilities relative to assets?
In 2023, liabilities were $104.2M compared to assets of $97.6M, indicating a negative net asset position. This suggests significant debt or other financial obligations, which is common for large facilities like senior living communities, but warrants further investigation into the composition of these liabilities.
Filing History
IRS 990 filing history for Covenant Living Of Cromwell Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2023), Covenant Living Of Cromwell Inc's revenue has grown by 55.9%, moving from $17.7M to $27.6M. Total assets increased by 169.9% over the same period, from $36.2M to $97.7M. Total functional expenses rose by 83.9%, from $17.4M to $31.9M. In its most recent filing year (2023), Covenant Living Of Cromwell Inc reported a deficit of $4.4M, with expenses exceeding revenue. The organization holds $104.2M in liabilities against $97.7M in assets (debt-to-asset ratio: 106.7%), resulting in net assets of $-6,571,082.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $27.6M | $31.9M | $97.7M | $104.2M | — | — |
| 2022 | $25.5M | $30.2M | $98.8M | $101.3M | — | View 990 |
| 2021 | $23.5M | $24.6M | $101.3M | $98.2M | — | View 990 |
| 2020 | $22.5M | $22.5M | $104.1M | $100.2M | — | — |
| 2019 | $14.8M | $14.4M | $97.7M | $93.9M | — | View 990 |
| 2019 | $20.6M | $21.1M | $96.9M | $93.5M | — | View 990 |
| 2018 | $21.1M | $20.7M | $44.5M | $40.6M | — | View 990 |
| 2017 | $19.2M | $20.4M | $43.2M | $40.0M | — | View 990 |
| 2016 | $18.8M | $20.1M | $42.6M | $38.1M | — | View 990 |
| 2015 | $17.9M | $18.8M | $42.3M | $36.5M | — | View 990 |
| 2014 | $17.8M | $19.4M | $40.6M | $34.0M | — | View 990 |
| 2013 | $17.5M | $17.2M | $37.4M | $29.3M | — | View 990 |
| 2012 | $17.7M | $17.4M | $36.2M | $28.4M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $27.6M, expenses of $31.9M, and assets of $97.7M (revenue +7.9% year-over-year).
- 2022: Revenue of $25.5M, expenses of $30.2M, and assets of $98.8M (revenue +8.7% year-over-year).
- 2021: Revenue of $23.5M, expenses of $24.6M, and assets of $101.3M (revenue +4.3% year-over-year).
- 2020: Revenue of $22.5M, expenses of $22.5M, and assets of $104.1M (revenue +52.2% year-over-year).
- 2019: Revenue of $14.8M, expenses of $14.4M, and assets of $97.7M (revenue -28.0% year-over-year).
- 2019: Revenue of $20.6M, expenses of $21.1M, and assets of $96.9M (revenue -2.3% year-over-year).
- 2018: Revenue of $21.1M, expenses of $20.7M, and assets of $44.5M (revenue +9.5% year-over-year).
- 2017: Revenue of $19.2M, expenses of $20.4M, and assets of $43.2M (revenue +2.0% year-over-year).
- 2016: Revenue of $18.8M, expenses of $20.1M, and assets of $42.6M (revenue +5.4% year-over-year).
- 2015: Revenue of $17.9M, expenses of $18.8M, and assets of $42.3M (revenue +0.5% year-over-year).
- 2014: Revenue of $17.8M, expenses of $19.4M, and assets of $40.6M (revenue +1.5% year-over-year).
- 2013: Revenue of $17.5M, expenses of $17.2M, and assets of $37.4M (revenue -0.8% year-over-year).
- 2012: Revenue of $17.7M, expenses of $17.4M, and assets of $36.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Covenant Living Of Cromwell Inc:
Data Sources and Methodology
This transparency report for Covenant Living Of Cromwell Inc 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.