United Covenant Foundation Inc
United Covenant Foundation Inc. consistently operates at a deficit with liabilities exceeding assets in recent years.
EIN: 113682676 · Clear Lake, WI · NTEE: L22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $435K |
| Total Expenses | $479K |
| Program Spending | 80% |
| Net Assets | $-512,350 |
| Transparency Score | 65/100 |
Is United Covenant Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
United Covenant Foundation Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About United Covenant Foundation Inc
United Covenant Foundation Inc (EIN: 113682676) is a nonprofit organization based in Clear Lake, WI, classified under NTEE code L22. The organization reported total revenue of $435K and total assets of $4.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of United Covenant Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
United Covenant Foundation Inc is a small nonprofit that has been operating for 23 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $353K |
| Total Expenses | $479K |
| Surplus / Deficit | $-125,250 |
| Total Assets | $3.7M |
| Total Liabilities | $4.2M |
| Net Assets | $-512,350 |
| Operating Margin | -35.5% |
| Debt-to-Asset Ratio | 113.8% |
| Months of Reserves | 92.8 months |
Financial Health Grade: C
In 2023, United Covenant Foundation Inc reported a deficit of $125K with expenses exceeding revenue, holds 92.8 months of operating reserves (strong position), has a debt-to-asset ratio of 113.8% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), United Covenant Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 3.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -13.5% | -6.6% | -10.2% |
| 2022 | +3.6% | +0.5% | +2.4% |
| 2021 | -34.7% | -17.7% | -12.3% |
| 2020 | +16.7% | +7.4% | +-0.0% |
| 2019 | +24.1% | -17.4% | +3.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2003 |
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 United Covenant Foundation 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, United Covenant Foundation Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $125K, with expenses exceeding revenue.
- Debt-to-asset ratio: 113.8%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no funds are allocated to executive salaries, which is highly favorable for a nonprofit of its size.
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 United Covenant Foundation Inc's IRS 990 filings:
- Consistent operating deficits (expenses exceeding revenue) in most recent years (e.g., 2023, 2022, 2021).
- Liabilities consistently exceeding assets in recent periods (e.g., 2023, 2022, 2021), indicating a negative net asset position.
- Declining asset base from a high of $5,231,714 in 2017 to $3,701,957 in 2023.
Strengths
The following positive indicators were identified for United Covenant Foundation Inc:
- Zero officer compensation reported across all filings, indicating strong commitment to mission over executive pay.
- Long filing history (13 filings) demonstrates consistent compliance and transparency in reporting.
Frequently Asked Questions about United Covenant Foundation Inc
Is United Covenant Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, United Covenant Foundation Inc (EIN: 113682676) some concerns. Mission Score: 65/100. 3 red flags identified, 2 strengths noted.
How does United Covenant Foundation Inc spend its money?
United Covenant Foundation Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to United Covenant Foundation Inc tax-deductible?
United Covenant Foundation Inc is registered as a tax-exempt nonprofit (EIN: 113682676). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of United Covenant Foundation Inc's spending goes to programs?
United Covenant Foundation Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does United Covenant Foundation Inc compare to similar nonprofits?
With a transparency score of 65/100 (Good), United Covenant Foundation Inc is above average for NTEE category L22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is United Covenant Foundation Inc located?
United Covenant Foundation Inc is headquartered in Clear Lake, Wisconsin and files with the IRS under EIN 113682676. It is classified under NTEE code L22.
How many years of IRS 990 filings does United Covenant Foundation Inc have?
United Covenant Foundation 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 $435K in total revenue.
How does United Covenant Foundation Inc. cover its consistent operating deficits?
The consistent deficits, such as $125,250 in 2023 and $103,584 in 2022, suggest the organization is either drawing down on prior reserves, receiving non-operating income not reflected in 'revenue' figures, or relying on debt financing, given that liabilities frequently exceed assets.
What is the long-term sustainability of the organization given its financial trends?
The long-term sustainability is questionable due to the recurring operating deficits and the trend of liabilities exceeding assets, which indicates a negative net asset position. This financial structure is not sustainable without significant changes in revenue generation or expense management.
Why are liabilities consistently higher than assets in recent years?
The consistent pattern of liabilities exceeding assets, for example, $4,214,307 in liabilities versus $3,701,957 in assets in 2023, suggests the organization may be heavily reliant on borrowed funds or has significant outstanding obligations that are not fully covered by its current assets.
Filing History
IRS 990 filing history for United Covenant Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), United Covenant Foundation Inc's revenue has grown by 43.6%, moving from $246K to $353K. Total assets increased by 20.4% over the same period, from $3.1M to $3.7M. Total functional expenses rose by 33.4%, from $359K to $479K. In its most recent filing year (2023), United Covenant Foundation Inc reported a deficit of $125K, with expenses exceeding revenue. The organization holds $4.2M in liabilities against $3.7M in assets (debt-to-asset ratio: 113.8%), resulting in net assets of $-512,350.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $353K | $479K | $3.7M | $4.2M | — | View 990 |
| 2022 | $408K | $512K | $4.1M | $4.5M | — | View 990 |
| 2021 | $394K | $509K | $4.0M | $4.3M | — | View 990 |
| 2020 | $604K | $619K | $4.6M | $4.8M | — | View 990 |
| 2019 | $517K | $576K | $4.6M | $4.7M | — | View 990 |
| 2018 | $417K | $697K | $4.5M | $4.5M | — | View 990 |
| 2017 | $696K | $596K | $5.2M | $5.0M | — | View 990 |
| 2016 | $611K | $434K | $4.7M | $4.6M | — | View 990 |
| 2015 | $439K | $477K | $2.5M | $2.6M | — | View 990 |
| 2014 | $359K | $406K | $2.7M | $2.7M | — | View 990 |
| 2013 | $282K | $355K | $2.8M | $2.8M | — | View 990 |
| 2012 | $245K | $340K | $2.9M | $2.8M | — | View 990 |
| 2011 | $246K | $359K | $3.1M | $2.9M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $353K, expenses of $479K, and assets of $3.7M (revenue -13.5% year-over-year).
- 2022: Revenue of $408K, expenses of $512K, and assets of $4.1M (revenue +3.6% year-over-year).
- 2021: Revenue of $394K, expenses of $509K, and assets of $4.0M (revenue -34.7% year-over-year).
- 2020: Revenue of $604K, expenses of $619K, and assets of $4.6M (revenue +16.7% year-over-year).
- 2019: Revenue of $517K, expenses of $576K, and assets of $4.6M (revenue +24.1% year-over-year).
- 2018: Revenue of $417K, expenses of $697K, and assets of $4.5M (revenue -40.2% year-over-year).
- 2017: Revenue of $696K, expenses of $596K, and assets of $5.2M (revenue +13.9% year-over-year).
- 2016: Revenue of $611K, expenses of $434K, and assets of $4.7M (revenue +39.3% year-over-year).
- 2015: Revenue of $439K, expenses of $477K, and assets of $2.5M (revenue +22.3% year-over-year).
- 2014: Revenue of $359K, expenses of $406K, and assets of $2.7M (revenue +27.4% year-over-year).
- 2013: Revenue of $282K, expenses of $355K, and assets of $2.8M (revenue +15.0% year-over-year).
- 2012: Revenue of $245K, expenses of $340K, and assets of $2.9M (revenue -0.3% year-over-year).
- 2011: Revenue of $246K, expenses of $359K, and assets of $3.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for United Covenant Foundation Inc:
Data Sources and Methodology
This transparency report for United Covenant Foundation 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.