Cover Home Repair Inc
Cover Home Repair Inc consistently grows revenue and assets with no reported officer compensation.
EIN: 204597157 · White Riv Jct, VT · NTEE: L81 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.4M |
| Total Expenses | $951K |
| Program Spending | 85% |
| Net Assets | $1.4M |
| Transparency Score | 90/100 |
Is Cover Home Repair Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Cover Home Repair Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Cover Home Repair Inc
Cover Home Repair Inc (EIN: 204597157) is a nonprofit organization based in White Riv Jct, VT, classified under NTEE code L81. The organization reported total revenue of $1.4M and total assets of $1.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Cover Home Repair Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Cover Home Repair Inc is a mid-size nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 1.9%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.0M |
| Total Expenses | $951K |
| Surplus / Deficit | +$90K |
| Total Assets | $1.5M |
| Total Liabilities | $51K |
| Net Assets | $1.4M |
| Operating Margin | 8.6% |
| Debt-to-Asset Ratio | 3.5% |
| Months of Reserves | 18.6 months |
Financial Health Grade: A
In 2024, Cover Home Repair Inc reported a surplus of $90K with revenue exceeding expenses, holds 18.6 months of operating reserves (strong position), has a debt-to-asset ratio of 3.5% (very low leverage).
Financial Trends
Over 13 years of filings (2012–2024), Cover Home Repair Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -3.2% | +15.3% | +8.2% |
| 2023 | +31.7% | +1.2% | +23.4% |
| 2022 | -15.4% | +8.8% | -0.1% |
| 2021 | +16.1% | +7.3% | +14.0% |
| 2020 | -1.8% | +4.7% | +29.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
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 Cover Home Repair Inc with a Mission Score of 90 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Cover Home Repair Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $90K, with revenue exceeding expenses.
- Debt-to-asset ratio: 3.5%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is highly unusual and suggests either a fully volunteer executive team or compensation structured in a way not reported as officer pay, indicating a strong focus on mission over executive salaries.
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.
Strengths
The following positive indicators were identified for Cover Home Repair Inc:
- Consistent revenue growth, from $600,879 in 201506 to $1,041,182 in 202406.
- Strong asset growth, from $608,227 in 201506 to $1,478,260 in 202406.
- Consistently low liabilities relative to assets, indicating strong financial stability (e.g., $51,058 liabilities vs. $1,478,260 assets in 202406).
- 0% reported officer compensation across all filings, suggesting high dedication to mission and efficient use of funds.
- Consistent positive net income, demonstrating sound financial management and ability to build reserves.
Frequently Asked Questions about Cover Home Repair Inc
Is Cover Home Repair Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Cover Home Repair Inc (EIN: 204597157) appears legitimate. Mission Score: 90/100. 0 red flags identified, 5 strengths noted.
How does Cover Home Repair Inc spend its money?
Cover Home Repair Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Cover Home Repair Inc tax-deductible?
Cover Home Repair Inc is registered as a tax-exempt nonprofit (EIN: 204597157). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Cover Home Repair Inc's spending goes to programs?
Cover Home Repair Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Cover Home Repair Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Cover Home Repair Inc is above average for NTEE category L81 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Cover Home Repair Inc located?
Cover Home Repair Inc is headquartered in White Riv Jct, Vermont and files with the IRS under EIN 204597157. It is classified under NTEE code L81.
How many years of IRS 990 filings does Cover Home Repair Inc have?
Cover Home Repair 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 $1.4M in total revenue.
How does Cover Home Repair Inc manage to operate without reported officer compensation?
The consistent reporting of 0% officer compensation across all filings suggests that executive leadership may be entirely volunteer-based or compensated through non-officer roles, which is a significant positive for resource allocation to programs.
What is the specific breakdown of program, administrative, and fundraising expenses?
While the provided data doesn't offer a detailed breakdown, the consistent positive net income and lack of officer compensation imply a high proportion of spending is directed towards programs. Further analysis of the full 990 forms would be needed for exact percentages.
How does the organization's asset growth compare to its revenue growth over time?
Both revenue and assets have shown consistent growth over the past decade. For example, from 201506 to 202406, revenue grew from $600,879 to $1,041,182, and assets grew from $608,227 to $1,478,260, indicating effective financial management and accumulation of resources.
Filing History
IRS 990 filing history for Cover Home Repair Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Cover Home Repair Inc's revenue has grown by 25.4%, moving from $831K to $1.0M. Total assets increased by 189.4% over the same period, from $511K to $1.5M. Total functional expenses rose by 16.5%, from $817K to $951K. In its most recent filing year (2024), Cover Home Repair Inc reported a surplus of $90K, with revenue exceeding expenses. The organization holds $51K in liabilities against $1.5M in assets (debt-to-asset ratio: 3.5%), resulting in net assets of $1.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $1.0M | $951K | $1.5M | $51K | — | View 990 |
| 2023 | $1.1M | $825K | $1.4M | $32K | — | View 990 |
| 2022 | $817K | $815K | $1.1M | $28K | — | View 990 |
| 2021 | $966K | $749K | $1.1M | $34K | — | View 990 |
| 2020 | $832K | $698K | $973K | $118K | — | View 990 |
| 2019 | $848K | $667K | $752K | $34K | — | View 990 |
| 2018 | $696K | $657K | $725K | $190K | — | View 990 |
| 2017 | $645K | $648K | $674K | $182K | — | View 990 |
| 2016 | $641K | $590K | $671K | $181K | — | View 990 |
| 2015 | $601K | $547K | $608K | $170K | — | View 990 |
| 2014 | $530K | $631K | $550K | $168K | — | View 990 |
| 2013 | $783K | $753K | $511K | $28K | — | View 990 |
| 2012 | $831K | $817K | $511K | $57K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $1.0M, expenses of $951K, and assets of $1.5M (revenue -3.2% year-over-year).
- 2023: Revenue of $1.1M, expenses of $825K, and assets of $1.4M (revenue +31.7% year-over-year).
- 2022: Revenue of $817K, expenses of $815K, and assets of $1.1M (revenue -15.4% year-over-year).
- 2021: Revenue of $966K, expenses of $749K, and assets of $1.1M (revenue +16.1% year-over-year).
- 2020: Revenue of $832K, expenses of $698K, and assets of $973K (revenue -1.8% year-over-year).
- 2019: Revenue of $848K, expenses of $667K, and assets of $752K (revenue +21.9% year-over-year).
- 2018: Revenue of $696K, expenses of $657K, and assets of $725K (revenue +7.8% year-over-year).
- 2017: Revenue of $645K, expenses of $648K, and assets of $674K (revenue +0.7% year-over-year).
- 2016: Revenue of $641K, expenses of $590K, and assets of $671K (revenue +6.6% year-over-year).
- 2015: Revenue of $601K, expenses of $547K, and assets of $608K (revenue +13.5% year-over-year).
- 2014: Revenue of $530K, expenses of $631K, and assets of $550K (revenue -32.4% year-over-year).
- 2013: Revenue of $783K, expenses of $753K, and assets of $511K (revenue -5.7% year-over-year).
- 2012: Revenue of $831K, expenses of $817K, and assets of $511K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Cover Home Repair Inc:
Data Sources and Methodology
This transparency report for Cover Home Repair 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.