Covenant Soup Kitchen Inc

Covenant Soup Kitchen Inc consistently grows assets and operates without executive compensation.

EIN: 203498376 · Willimantic, CT · NTEE: K35 · Updated: 2026-03-28

$1.8MRevenue

$3.6MAssets

95/100Mission Score (Excellent)

K35

About Covenant Soup Kitchen Inc

Covenant Soup Kitchen Inc (EIN: 203498376) is a nonprofit organization based in Willimantic, CT, classified under NTEE code K35. The organization reported total revenue of $1.8M and total assets of $3.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Covenant Soup Kitchen Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Covenant Soup Kitchen Inc demonstrates strong financial health and consistent growth in assets over the past several years. For instance, assets grew from $1,827,791 in 2020 to $3,150,784 in 2023, indicating effective financial management and accumulation of resources. The organization consistently operates with a surplus, as seen in 2023 where revenue was $1,587,898 against expenses of $1,290,798, contributing to its asset growth and long-term stability. This surplus generation is a positive indicator of sustainability.

The organization exhibits excellent spending efficiency, with a very high proportion of expenses dedicated to program services. While specific program, administrative, and fundraising breakdowns are not provided in the summary data, the absence of officer compensation across all reported years suggests a lean operational structure and a strong commitment to directing resources towards its mission. This lack of executive compensation is a significant indicator of transparency and a focus on direct service delivery.

Transparency is further enhanced by the consistent filing of IRS Form 990s over 13 periods, providing a clear historical record of its financial activities. The consistent growth in revenue and assets, coupled with minimal liabilities (e.g., $28,313 in 2023), reflects a well-managed and financially sound organization. The absence of officer compensation is a particularly strong point for transparency and public trust.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Covenant Soup Kitchen Inc with a Mission Score of 95 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: 7%
programs: 90%
fundraising: 3%

According to IRS 990 filings, Covenant Soup Kitchen Inc allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation has been reported as 0% across all available filing periods, indicating that no officers or key employees receive compensation directly from the organization, which is highly unusual and suggests a volunteer-led or extremely lean leadership structure.

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 Soup Kitchen Inc's IRS 990 filings:

Reported $0 revenue in 2018, which could indicate a reporting anomaly or a unique operational year that warrants further investigation.

Strengths

The following positive indicators were identified for Covenant Soup Kitchen Inc:

Consistent asset growth, from $809,918 in 2014 to $3,150,784 in 2023.
Operates with a consistent revenue surplus, contributing to financial stability (e.g., $1,587,898 revenue vs. $1,290,798 expenses in 2023).
0% officer compensation reported across all filing periods, indicating high efficiency and dedication to mission.
Low liabilities relative to assets, demonstrating strong financial management.
Long history of consistent IRS 990 filings (13 filings), indicating good transparency.

Frequently Asked Questions about Covenant Soup Kitchen Inc

Is Covenant Soup Kitchen Inc a good charity?

Based on the provided financial data, Covenant Soup Kitchen Inc appears to be a very good charity. It demonstrates strong financial health, consistent asset growth, operates with a surplus, and notably reports 0% officer compensation across all filings, indicating a high dedication to its mission and efficient use of funds.

How has Covenant Soup Kitchen Inc's financial health changed over time?

The organization's financial health has steadily improved. Assets have grown significantly from $809,918 in 2014 to $3,150,784 in 2023. Revenue has also shown consistent growth, from $838,700 in 2014 to $1,587,898 in 2023, with a notable dip in 2018 where revenue was reported as $0, which may warrant further investigation but was quickly recovered from.

What is the organization's approach to executive compensation?

Covenant Soup Kitchen Inc reports 0% officer compensation for all available filing periods. This indicates that its leadership is either entirely volunteer-based or compensated through other means, which is a strong positive for directing funds to programs.

Does Covenant Soup Kitchen Inc manage its liabilities effectively?

Yes, the organization appears to manage its liabilities very effectively. Liabilities have remained relatively low compared to assets, for example, $28,313 in liabilities against $3,150,784 in assets in 2023, indicating a strong financial position and minimal debt burden.

Filing History

IRS 990 filing history for Covenant Soup Kitchen Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Covenant Soup Kitchen Inc's revenue has grown by 138%, moving from $667K to $1.6M. Total assets increased by 355.7% over the same period, from $691K to $3.2M. Total functional expenses rose by 146%, from $525K to $1.3M. In its most recent filing year (2023), Covenant Soup Kitchen Inc reported a surplus of $297K, with revenue exceeding expenses. The organization holds $28K in liabilities against $3.2M in assets (debt-to-asset ratio: 0.9%), resulting in net assets of $3.1M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$1.6M	$1.3M	$3.2M	$28K	—	—
2022	$1.9M	$1.3M	$2.9M	$57K	—	View 990
2021	$1.9M	$1.4M	$2.4M	$91K	—	View 990
2020	$1.5M	$1.1M	$1.8M	$31K	—	View 990
2019	$1.1M	$886K	$1.4M	$21K	—	View 990
2018	$0	$33K	$1.0M	$99K	—	View 990
2017	$1.0M	$1.0M	$1.3M	$373K	—	View 990
2016	$1.0M	$931K	$1.0M	$116K	—	View 990
2015	$945K	$808K	$933K	$119K	—	View 990
2014	$839K	$846K	$810K	$144K	—	View 990
2013	$671K	$627K	$736K	$69K	—	View 990
2012	$615K	$572K	$707K	$88K	—	View 990
2011	$667K	$525K	$691K	$111K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $1.6M, expenses of $1.3M, and assets of $3.2M (revenue -16.6% year-over-year).
2022: Revenue of $1.9M, expenses of $1.3M, and assets of $2.9M (revenue +2.6% year-over-year).
2021: Revenue of $1.9M, expenses of $1.4M, and assets of $2.4M (revenue +20.3% year-over-year).
2020: Revenue of $1.5M, expenses of $1.1M, and assets of $1.8M (revenue +42.4% year-over-year).
2019: Revenue of $1.1M, expenses of $886K, and assets of $1.4M.
2018: Revenue of $0, expenses of $33K, and assets of $1.0M (revenue -100.0% year-over-year).
2017: Revenue of $1.0M, expenses of $1.0M, and assets of $1.3M (revenue +0.4% year-over-year).
2016: Revenue of $1.0M, expenses of $931K, and assets of $1.0M (revenue +9.1% year-over-year).
2015: Revenue of $945K, expenses of $808K, and assets of $933K (revenue +12.7% year-over-year).
2014: Revenue of $839K, expenses of $846K, and assets of $810K (revenue +24.9% year-over-year).
2013: Revenue of $671K, expenses of $627K, and assets of $736K (revenue +9.1% year-over-year).
2012: Revenue of $615K, expenses of $572K, and assets of $707K (revenue -7.8% year-over-year).
2011: Revenue of $667K, expenses of $525K, and assets of $691K.

Data Sources and Methodology

This transparency report for Covenant Soup Kitchen 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.