Covenant Of Love Uul Corp
Covenant Of Love Uul Corp faces persistent operating deficits and high liabilities, eroding its asset base.
EIN: 10868265 · Las Vegas, NV · NTEE: I40 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $522K |
| Total Expenses | $659K |
| Program Spending | 70% |
| Net Assets | $3K |
| Transparency Score | 45/100 |
Is Covenant Of Love Uul Corp Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Covenant Of Love Uul Corp directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Covenant Of Love Uul Corp
Covenant Of Love Uul Corp (EIN: 10868265) is a nonprofit organization based in Las Vegas, NV, classified under NTEE code I40. The organization reported total revenue of $522K and total assets of $478K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Covenant Of Love Uul Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Covenant Of Love Uul Corp is a small nonprofit that has been operating for 19 years, with 12 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 5.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $588K |
| Total Expenses | $659K |
| Surplus / Deficit | $-70,596 |
| Total Assets | $453K |
| Total Liabilities | $450K |
| Net Assets | $3K |
| Operating Margin | -12.0% |
| Debt-to-Asset Ratio | 99.4% |
| Months of Reserves | 8.2 months |
Financial Health Grade: C
In 2023, Covenant Of Love Uul Corp reported a deficit of $71K with expenses exceeding revenue, holds 8.2 months of operating reserves (strong position), has a debt-to-asset ratio of 99.4% (high leverage).
Financial Trends
Over 12 years of filings (2011–2023), Covenant Of Love Uul Corp's revenue has grown at a compound annual growth rate (CAGR) of 5.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +53.2% | +33.4% | -13.5% |
| 2022 | +51.9% | -3.5% | -18.4% |
| 2021 | -35.6% | +31.1% | +12886.2% |
| 2019 | -16.4% | -18.3% | +103.9% |
| 2018 | -4.7% | -1.3% | -76.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 Of Love Uul Corp with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Covenant Of Love Uul Corp allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $71K, with expenses exceeding revenue.
- Debt-to-asset ratio: 99.4%.
Executive Compensation Analysis
Executive compensation is reported at 0% across all available filings, indicating that no salaries or other compensation were paid to officers, which is a positive for minimizing administrative overhead.
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 Of Love Uul Corp's IRS 990 filings:
- Consistent operating deficits (expenses exceeding revenue) in recent years (2021, 2022, 2023).
- High and static liabilities ($450,000) that nearly match total assets in 2023, indicating minimal net assets.
- Significant decline in assets from $641,519 in 2021 to $452,691 in 2023.
- Lack of detailed spending breakdown (program vs. admin vs. fundraising) in the provided data, hindering efficiency assessment.
- Potential for financial instability due to the high debt burden and negative cash flow from operations.
Strengths
The following positive indicators were identified for Covenant Of Love Uul Corp:
- Reported 0% officer compensation across all filings, indicating no executive pay burden.
- Long filing history (12 filings), suggesting consistent compliance with IRS reporting requirements.
Frequently Asked Questions about Covenant Of Love Uul Corp
Is Covenant Of Love Uul Corp a legitimate charity?
Based on AI analysis of IRS 990 filings, Covenant Of Love Uul Corp (EIN: 10868265) significant concerns. Mission Score: 45/100. 5 red flags identified, 2 strengths noted.
How does Covenant Of Love Uul Corp spend its money?
Covenant Of Love Uul Corp directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Covenant Of Love Uul Corp tax-deductible?
Covenant Of Love Uul Corp is registered as a tax-exempt nonprofit (EIN: 10868265). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Covenant Of Love Uul Corp's spending goes to programs?
Covenant Of Love Uul Corp directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Covenant Of Love Uul Corp compare to similar nonprofits?
With a transparency score of 45/100 (Fair), Covenant Of Love Uul Corp is near average for NTEE category I40 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Covenant Of Love Uul Corp located?
Covenant Of Love Uul Corp is headquartered in Las Vegas, Nevada and files with the IRS under EIN 10868265. It is classified under NTEE code I40.
How many years of IRS 990 filings does Covenant Of Love Uul Corp have?
Covenant Of Love Uul Corp has 12 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 $522K in total revenue.
What is the nature of the $450,000 in liabilities reported consistently since 2021?
The provided data does not specify the nature of these liabilities, but their consistent presence and high value relative to assets are a significant concern for the organization's financial stability.
How does Covenant Of Love Uul Corp plan to address its consistent operating deficits?
The filings show expenses exceeding revenue in 2021, 2022, and 2023. The organization needs a clear strategy to either increase revenue or reduce expenses to achieve financial sustainability.
What specific programs does the organization operate, and how are funds allocated to them?
The NTEE code I40 indicates 'Religious Activities', but specific program details and their associated spending are not available in the provided summary data.
Is the organization at risk of insolvency given its high liabilities and declining assets?
With liabilities of $450,000 and assets of $452,691 in 2023, the organization's net assets are extremely low ($2,691). This situation, combined with persistent operating losses, indicates a high risk of financial distress or insolvency if trends continue.
What is the long-term strategy for revenue generation to cover expenses?
The organization's revenue has fluctuated, but has not consistently covered expenses in recent years. A sustainable long-term revenue strategy is critical for its future.
Filing History
IRS 990 filing history for Covenant Of Love Uul Corp showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2023), Covenant Of Love Uul Corp's revenue has grown by 100.1%, moving from $294K to $588K. Total assets increased by 125997.8% over the same period, from $359 to $453K. Total functional expenses rose by 124.1%, from $294K to $659K. In its most recent filing year (2023), Covenant Of Love Uul Corp reported a deficit of $71K, with expenses exceeding revenue. The organization holds $450K in liabilities against $453K in assets (debt-to-asset ratio: 99.4%), resulting in net assets of $3K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $588K | $659K | $453K | $450K | — | — |
| 2022 | $384K | $494K | $523K | $450K | — | View 990 |
| 2021 | $253K | $511K | $642K | $450K | — | View 990 |
| 2019 | $392K | $390K | $5K | $0 | — | View 990 |
| 2018 | $469K | $477K | $2K | $0 | — | View 990 |
| 2017 | $492K | $483K | $10K | $0 | — | — |
| 2016 | $394K | $398K | $1K | $0 | — | View 990 |
| 2015 | $498K | $493K | $6K | $0 | — | View 990 |
| 2014 | $487K | $501K | $246 | $0 | — | View 990 |
| 2013 | $616K | $604K | $14K | $0 | — | View 990 |
| 2012 | $433K | $432K | $1K | $0 | — | View 990 |
| 2011 | $294K | $294K | $359 | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $588K, expenses of $659K, and assets of $453K (revenue +53.2% year-over-year).
- 2022: Revenue of $384K, expenses of $494K, and assets of $523K (revenue +51.9% year-over-year).
- 2021: Revenue of $253K, expenses of $511K, and assets of $642K (revenue -35.6% year-over-year).
- 2019: Revenue of $392K, expenses of $390K, and assets of $5K (revenue -16.4% year-over-year).
- 2018: Revenue of $469K, expenses of $477K, and assets of $2K (revenue -4.7% year-over-year).
- 2017: Revenue of $492K, expenses of $483K, and assets of $10K (revenue +24.9% year-over-year).
- 2016: Revenue of $394K, expenses of $398K, and assets of $1K (revenue -20.9% year-over-year).
- 2015: Revenue of $498K, expenses of $493K, and assets of $6K (revenue +2.2% year-over-year).
- 2014: Revenue of $487K, expenses of $501K, and assets of $246 (revenue -20.9% year-over-year).
- 2013: Revenue of $616K, expenses of $604K, and assets of $14K (revenue +42.2% year-over-year).
- 2012: Revenue of $433K, expenses of $432K, and assets of $1K (revenue +47.4% year-over-year).
- 2011: Revenue of $294K, expenses of $294K, and assets of $359.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Covenant Of Love Uul Corp:
Data Sources and Methodology
This transparency report for Covenant Of Love Uul Corp 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.