Covington Partners Inc
Covington Partners Inc shows strong financial growth with zero reported officer compensation.
EIN: 201515753 · Fort Wright, KY · NTEE: B11 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.3M |
| Total Expenses | $480K |
| Program Spending | 85% |
| Net Assets | $716K |
| Transparency Score | 90/100 |
Is Covington Partners Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Covington Partners Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Covington Partners Inc
Covington Partners Inc (EIN: 201515753) is a nonprofit organization based in Fort Wright, KY, classified under NTEE code B11. The organization reported total revenue of $1.3M and total assets of $1.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Covington Partners Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Covington Partners Inc is a mid-size nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $763K |
| Total Expenses | $480K |
| Surplus / Deficit | +$283K |
| Total Assets | $901K |
| Total Liabilities | $185K |
| Net Assets | $716K |
| Operating Margin | 37.1% |
| Debt-to-Asset Ratio | 20.5% |
| Months of Reserves | 22.5 months |
Financial Health Grade: A
In 2023, Covington Partners Inc reported a surplus of $283K with revenue exceeding expenses, holds 22.5 months of operating reserves (strong position), has a debt-to-asset ratio of 20.5% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Covington Partners Inc's revenue has grown at a compound annual growth rate (CAGR) of 6.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +175.3% | +80.3% | +68.2% |
| 2022 | +23.1% | +7.2% | +3.9% |
| 2021 | -47.6% | -2.3% | +6.4% |
| 2020 | +39.8% | -3.8% | +48.0% |
| 2019 | -7.3% | -16.7% | -0.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
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 Covington Partners 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, Covington Partners 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $283K, with revenue exceeding expenses.
- Debt-to-asset ratio: 20.5%.
Executive Compensation Analysis
Covington Partners Inc consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to its officers. This is a highly positive sign, suggesting that all resources are directed towards the organization's mission and operational costs, rather than executive pay.
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 Covington Partners Inc:
- Consistent 0% officer compensation, indicating high efficiency and mission focus.
- Significant revenue growth from $296,899 in 2014 to $1,250,375 currently.
- Strong asset growth from $311,227 in 2014 to $1,146,796 currently.
- Positive net income in most recent periods, such as $763,301 revenue vs $480,225 expenses in 2023.
- Healthy asset-to-liability ratio, with assets at $900,693 and liabilities at $184,726 in 2023.
Frequently Asked Questions about Covington Partners Inc
Is Covington Partners Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Covington Partners Inc (EIN: 201515753) appears legitimate. Mission Score: 90/100. 0 red flags identified, 5 strengths noted.
How does Covington Partners Inc spend its money?
Covington Partners Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Covington Partners Inc tax-deductible?
Covington Partners Inc is registered as a tax-exempt nonprofit (EIN: 201515753). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Covington Partners Inc's spending goes to programs?
Covington Partners Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Covington Partners Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Covington Partners Inc is above average for NTEE category B11 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Covington Partners Inc located?
Covington Partners Inc is headquartered in Fort Wright, Kentucky and files with the IRS under EIN 201515753. It is classified under NTEE code B11.
How many years of IRS 990 filings does Covington Partners Inc have?
Covington Partners 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 $1.3M in total revenue.
Is Covington Partners Inc a good charity?
Based on the available data, Covington Partners Inc appears to be a good charity. It demonstrates strong financial growth, a healthy asset base, and notably reports 0% officer compensation, indicating a strong commitment to its mission over executive salaries.
How has Covington Partners Inc's financial health changed over time?
Covington Partners Inc has shown significant financial improvement. Its revenue has grown from $296,899 in 2014 to $1,250,375 currently, and assets have increased from $311,227 in 2014 to $1,146,796. The organization has consistently generated more revenue than expenses in recent years, leading to a stronger financial position.
What is the trend in officer compensation for Covington Partners Inc?
The trend in officer compensation for Covington Partners Inc is consistently 0% across all 13 available filings, from 2014 to 2023. This indicates a sustained practice of not paying salaries to its officers.
Filing History
IRS 990 filing history for Covington Partners Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Covington Partners Inc's revenue has grown by 122.8%, moving from $343K to $763K. Total assets increased by 116.2% over the same period, from $417K to $901K. Total functional expenses rose by 88.5%, from $255K to $480K. In its most recent filing year (2023), Covington Partners Inc reported a surplus of $283K, with revenue exceeding expenses. The organization holds $185K in liabilities against $901K in assets (debt-to-asset ratio: 20.5%), resulting in net assets of $716K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $763K | $480K | $901K | $185K | — | View 990 |
| 2022 | $277K | $266K | $535K | $103K | — | View 990 |
| 2021 | $225K | $249K | $516K | $94K | — | View 990 |
| 2020 | $429K | $254K | $485K | $39K | — | View 990 |
| 2019 | $307K | $265K | $328K | $57K | — | View 990 |
| 2018 | $331K | $317K | $329K | $102K | — | View 990 |
| 2017 | $281K | $359K | $305K | $91K | — | View 990 |
| 2016 | $385K | $330K | $392K | $100K | — | View 990 |
| 2015 | $295K | $264K | $315K | $79K | — | View 990 |
| 2014 | $297K | $382K | $311K | $106K | — | View 990 |
| 2013 | $246K | $286K | $374K | $83K | — | View 990 |
| 2012 | $186K | $238K | $381K | $50K | — | View 990 |
| 2011 | $343K | $255K | $417K | $33K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $763K, expenses of $480K, and assets of $901K (revenue +175.3% year-over-year).
- 2022: Revenue of $277K, expenses of $266K, and assets of $535K (revenue +23.1% year-over-year).
- 2021: Revenue of $225K, expenses of $249K, and assets of $516K (revenue -47.6% year-over-year).
- 2020: Revenue of $429K, expenses of $254K, and assets of $485K (revenue +39.8% year-over-year).
- 2019: Revenue of $307K, expenses of $265K, and assets of $328K (revenue -7.3% year-over-year).
- 2018: Revenue of $331K, expenses of $317K, and assets of $329K (revenue +17.9% year-over-year).
- 2017: Revenue of $281K, expenses of $359K, and assets of $305K (revenue -27.0% year-over-year).
- 2016: Revenue of $385K, expenses of $330K, and assets of $392K (revenue +30.3% year-over-year).
- 2015: Revenue of $295K, expenses of $264K, and assets of $315K (revenue -0.5% year-over-year).
- 2014: Revenue of $297K, expenses of $382K, and assets of $311K (revenue +20.8% year-over-year).
- 2013: Revenue of $246K, expenses of $286K, and assets of $374K (revenue +32.1% year-over-year).
- 2012: Revenue of $186K, expenses of $238K, and assets of $381K (revenue -45.7% year-over-year).
- 2011: Revenue of $343K, expenses of $255K, and assets of $417K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Covington Partners Inc:
Data Sources and Methodology
This transparency report for Covington Partners 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.