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Nonprofiteer
← COVENANT HEALTH SYSTEM FOUNDATION

Form 990 for tax year 2024

Filed by COVENANT HEALTH SYSTEM FOUNDATION.

Totals

Total revenue
$5,420,360
Total expenses
$11,797,168
Contributions and grants received
$3,818,466
Grants paid
$9,700,655
Program service revenue
$0
Investment income
$1,657,846
Other revenue
-$55,952
Total assets, end of year
$64,813,894
Total liabilities, end of year
$17,840,185
Net assets or fund balances, end of year
$46,973,709
Program services expenses (Part IX)
$9,700,655
Management and general expenses
$1,929,243
Fundraising expenses
$167,270
Program service expenses (Part III)
$9,700,655

Program services were 82.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $675,204

  • 1e · Government grants (contributions)

    $9,050

  • 1f · All other contributions, gifts and grants

    $3,134,212

  • 3 · Investment income

    total $1,018,034 · excluded $1,018,034

  • 7a · Gross sales of assets other than inventory

    securities $3,246,183

  • 7b · Less cost or other basis and sales expenses

    securities $2,606,371

  • 7c · Gain or loss

    securities $639,812

  • 7d · Net gain or loss

    total $639,812 · excluded $639,812

  • 8a · Fundraising events: gross income

    $237,264

  • 8a · Fundraising events: contributions included on line 1c

    $675,204

  • 8b · Fundraising events: direct expenses

    $293,216

  • 8c · Net income from fundraising events

    total -$55,952 · excluded -$55,952

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $9,497,994 · program services $9,497,994

  • 2 · Grants to domestic individuals

    total $202,661 · program services $202,661

  • 5 · Compensation of officers, directors and key employees

    total $286,276 · management and general $262,830 · fundraising $23,446

  • 7 · Other salaries and wages

    total $684,144 · management and general $628,113 · fundraising $56,031

  • 8 · Pension plan contributions

    total $55,669 · management and general $51,110 · fundraising $4,559

  • 9 · Other employee benefits

    total $154,863 · management and general $142,180 · fundraising $12,683

  • 10 · Payroll taxes

    total $65,909 · management and general $60,511 · fundraising $5,398

  • 11f · Fees: investment management

    total $54,121 · management and general $54,121

  • 11g · Fees: other

    total $201,444 · management and general $184,946 · fundraising $16,498

  • 12 · Advertising and promotion

    total $309,609 · management and general $284,252 · fundraising $25,357

  • 13 · Office expenses

    total $31,248 · management and general $28,689 · fundraising $2,559

  • 16 · Occupancy

    total $3,586 · management and general $3,292 · fundraising $294

  • 17 · Travel

    total $28,471 · management and general $26,139 · fundraising $2,332

  • 22 · Depreciation, depletion and amortization

    total $1,625 · management and general $1,492 · fundraising $133

  • 24a · Other expenses: OTHER DIRECT EXPENSES

    total $212,043 · management and general $194,677 · fundraising $17,366

  • 24b · Other expenses: DUES & SUBSCRIPTIONS

    total $7,232 · management and general $6,640 · fundraising $592

  • 24c · Other expenses: SPECIAL EVENTS

    total $273 · management and general $251 · fundraising $22

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $18,833,930 · end of year $19,001,492

  • 2 · Savings and temporary cash investments

    beginning of year $551,075 · end of year $4,096,233

  • 3 · Pledges and grants receivable

    beginning of year $6,230,132 · end of year $2,247,288

  • 4 · Accounts receivable

    beginning of year $5,175 · end of year $7,535

  • 10a · Land, buildings and equipment: cost or other basis

    $45,257

  • 10b · Land, buildings and equipment: accumulated depreciation

    $44,793

  • 10c · Land, buildings and equipment, net

    beginning of year $2,089 · end of year $464

  • 11 · Investments: publicly traded securities

    beginning of year $26,979,022 · end of year $28,732,688

  • 15 · Other assets

    beginning of year $9,582,915 · end of year $10,728,194

  • 17 · Accounts payable and accrued expenses

    beginning of year $400,091 · end of year $597,551

  • 19 · Deferred revenue

    beginning of year $24,871 · end of year $24,871

  • 25 · Other liabilities

    beginning of year $8,275,852 · end of year $17,217,763

  • 27 · Net assets without donor restrictions

    beginning of year $6,195,250 · end of year $1,414,325

  • 28 · Net assets with donor restrictions

    beginning of year $47,288,274 · end of year $45,559,384

Mission and programs · 2024

Mission

AS EXPRESSIONS OF GOD'S HEALING LOVE, WITNESSED THROUGH THE MINISTRY OF JESUS, WE ARE STEADFAST IN SERVING ALL, ESPECIALLY THOSE WHO ARE POOR AND VULNERABLE.

Activities or mission (Part I)

SEE SCHEDULE O

  • SEE SCHEDULE O

    Expenses $9,700,655 · Grants $9,700,655

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • GABRIEL AXELRUD MD

    BOARD MEMBER - THRU 12/31/24

    Total calculated
    $970,575
    From this org
    $0
    From related orgs
    $920,303
    Other
    $50,272
    Hours/week
    0.5 + 49.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $874,317 related
    Bonus
    $0
    Other
    $0 + $45,986 related
    Deferred
    $0 + $32,532 related
    Nontaxable benefits
    $0 + $17,740 related
    Filer's total
    $0 + $970,575 related

  • RYAN OWEN MD

    BOARD MEMBER - THRU 12/31/24

    Total calculated
    $931,646
    From this org
    $0
    From related orgs
    $883,269
    Other
    $48,377
    Hours/week
    0.5 + 49.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $837,212 related
    Bonus
    $0 + $4,770 related
    Other
    $0 + $41,287 related
    Deferred
    $0 + $31,557 related
    Nontaxable benefits
    $0 + $16,820 related
    Filer's total
    $0 + $931,646 related

  • THOMAS WINDISCH MD

    BOARD MEMBER

    Total calculated
    $733,421
    From this org
    $0
    From related orgs
    $700,426
    Other
    $32,995
    Hours/week
    0.5 + 49.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $651,532 related
    Bonus
    $0 + $3,930 related
    Other
    $0 + $44,964 related
    Deferred
    $0 + $25,219 related
    Nontaxable benefits
    $0 + $7,776 related
    Filer's total
    $0 + $733,421 related

  • JEREMY DALTON MD

    BOARD MEMBER - THRU 12/31/24

    Total calculated
    $675,931
    From this org
    $0
    From related orgs
    $630,559
    Other
    $45,372
    Hours/week
    0.5 + 49.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $566,270 related
    Bonus
    $0 + $5,250 related
    Other
    $0 + $59,039 related
    Deferred
    $0 + $45,062 related
    Nontaxable benefits
    $0 + $310 related
    Filer's total
    $0 + $675,931 related

  • STEPHEN CRISMAN

    PRESIDENT/BOARD MEMBER

    Total calculated
    $286,276
    From this org
    $256,643
    From related orgs
    $0
    Other
    $29,633
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $237,346
    Bonus
    $12,353
    Other
    $6,944
    Deferred
    $13,360
    Nontaxable benefits
    $16,273
    Filer's total
    $286,276

  • BRICE FOSTER

    BOARD MEMBER/CHAIR

    Total calculated
    $0
    Hours/week
    1

  • CAROLYN WILKERSON

    BOARD MEMBER/SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • CHAD HENTHORN

    BOARD MEMBER/VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • DANA MADISON

    BOARD MEMBER/VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • AMY PUNCHARD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • BILL RICHARDS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • CATHY PORTER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • CINDY GILSTRAP

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • CLARK LAMMERT

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • ELESHA TUCKER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • JAMES CONWRIGHT

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • JOHN OPPERMAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • KEITH MANN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • KIM FLENNIKEN

    BOARD MEMBER - THRU 12/31/24

    Total calculated
    $0
    Hours/week
    0.5

  • LORY IOPPOLO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • MICHAEL TATUM

    BOARD MEMBER - THRU 12/31/24

    Total calculated
    $0
    Hours/week
    0.5

  • NANCY TREVINO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • RENEE DAVIS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • SAMANTHA DELGADO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • SOMMER SANFORD JANES

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • VINCE VASQUEZ

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • EMILY YOUNG

    SENIOR DIRECTOR PHILANTHROPY

    Total calculated
    $139,976
    From this org
    $127,952
    From related orgs
    $0
    Other
    $12,024
    Hours/week
    50

  • BEVIN ENGLAND

    SENIOR PHILANTHROPY OFFICER

    Total calculated
    $128,883
    From this org
    $114,017
    From related orgs
    $0
    Other
    $14,866
    Hours/week
    50

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1B
PROVIDENCE EXPENSE REIMBURSEMENT PROCEDURES INCLUDE THE FOLLOWING POLICIES: FIRST CLASS TRAVEL OR CHARTER TRAVEL AIR TRAVEL IS GENERALLY REIMBURSABLE AT THE LEAST EXPENSIVE AIRFARE WHICH PERMITS DEPARTURES AND ARRIVALS AT REASONABLE TIMES AND REASONABLE DISTANCE TRAVELED. EMPLOYEES ARE ENCOURAGED TO PLAN IN ADVANCE TO GET AVAILABLE DISCOUNTS. AIRLINE FREQUENT FLYER UPGRADES WILL NEVER BE REIMBURSED. IN LIMITED SITUATIONS, FIRST CLASS TICKETS AND CHARTER MAY BE REIMBURSED WHEN APPROVED BY A SENIOR LEVEL SUPERVISOR. THESE REIMBURSEMENTS ARE NOT REPORTED AS TAXABLE COMPENSATION. TAX INDEMNIFICATION AND GROSS-UP PAYMENTS TAX INDEMNIFICATIONS OR GROSS-UP PAYMENTS - RELOCATION PROVIDENCE FOLLOWS THE FEDERAL AND STATE TAXATION LAWS RELATED TO RELOCATION EXPENSES PAID TO THE EMPLOYEE OR TO A THIRD PARTY ON THE EMPLOYEE'S BEHALF. THEY ARE CONSIDERED TAXABLE WAGES AND ARE REPORTED AS SUCH. BASED ON THE WAY PROVIDENCE HAS CHOSEN TO PAY THE RELOCATION EXPENSES, PROVIDENCE REPORTS REIMBURSEMENTS AND PAYMENTS TO VENDORS AS INCOME AND THESE EXPENSE PAYMENTS ARE REFLECTED ON THE EXECUTIVE'S FORM W-2. PROVIDENCE PROVIDES A GROSS-UP FOR THE RELOCATION BENEFITS, SO THAT A PORTION OF THE REIMBURSEMENT DOES NOT HAVE TO BE USED TO PAY TAXES, AND THIS TAX GROSS-UP IS ALSO REPORTED AS TAXABLE INCOME. THE AMOUNTS REPORTED FOR THESE GROSS-UP PAYMENTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN B (III) - OTHER REPORTABLE COMPENSATION ON THE FORM 990. TAX INDEMNIFICATIONS OR GROSS-UP PAYMENTS - FINANCIAL/RETIREMENT PLANNING PROVIDENCE FOLLOWS THE FEDERAL AND STATE TAXATION LAWS RELATED TO FINANCIAL AND RETIREMENT PLANNING EXPENSES PAID TO THE EMPLOYEE OR TO A THIRD PARTY ON THE EMPLOYEE'S BEHALF. THEY ARE CONSIDERED TAXABLE WAGES AND ARE REPORTED AS SUCH. BASED ON THE WAY PROVIDENCE HAS CHOSEN TO PAY THESE OTHER EXPENSES, PROVIDENCE REPORTS REIMBURSEMENTS AND PAYMENTS TO VENDORS AS INCOME AND THESE EXPENSE PAYMENTS ARE REFLECTED ON THE EXECUTIVE'S FORM W-2. PROVIDENCE PROVIDES A GROSS-UP FOR THIS BENEFIT, SO THAT A PORTION OF THE PAYMENT DOES NOT HAVE TO BE USED TO PAY TAXES, AND THIS TAX GROSS-UP IS ALSO REPORTED AS TAXABLE INCOME. THE AMOUNTS REPORTED FOR THESE GROSS-UP PAYMENTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN B (III) - OTHER REPORTABLE COMPENSATION ON THE FORM 990. PERSONAL SERVICES PROVIDENCE OFFERS FINANCIAL PLANNING SERVICES AS AN OPTIONAL BENEFIT TO EMPLOYEES AT VICE PRESIDENT LEVEL AND ABOVE. THIS BENEFIT IS CONSIDERED A TAXABLE BENEFIT AND IS INCLUDED ON THE EMPLOYEE'S FORM W- 2. THE AMOUNTS REPORTED FOR THE FINANCIAL PLANNING SERVICES ARE INCLUDED AS TAXABLE INCOME ON SCHEDULE J, PART II, COLUMN B (III) - OTHER REPORTABLE COMPENSATION ON THE FORM 990 FOR THE EMPLOYEES WHO PARTICIPATE.
PART I, LINE 4B
ENTITIES WITHIN THE PROVIDENCE SYSTEM SPONSOR NON-QUALIFIED SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS FOR CERTAIN EXECUTIVES. THE PLANS PROVIDE FOR EMPLOYER CONTRIBUTIONS BASED ON A PERCENTAGE OF EXECUTIVE BASE SALARY AND, DEPENDING ON THE PLAN, ARE SUBJECT TO EITHER A THREE YEAR, AGE 59 1/2 OR A FIVE YEAR, AGE 65 VESTING SCHEDULE. UNTIL THE EXECUTIVE PROVIDES THESE SUBSTANTIAL FUTURE SERVICES, THESE SUPPLEMENTAL RETIREMENT CONTRIBUTIONS ARE AT RISK, AND WILL BE FORFEITED IF THE EXECUTIVE LEAVES THE ORGANIZATION BEFORE REACHING HER OR HIS VESTING DATE. THE SUPPLEMENTAL RETIREMENT CONTRIBUTIONS ARE INCLUDED IN COLUMN (C) AS A NONTAXABLE BENEFIT IN THE YEAR THE CONTRIBUTION IS CREDITED TO THE EXECUTIVE'S ACCOUNT, AND ARE INCLUDED AGAIN ON THE FORM 990 IN COLUMN (B)(III) IF AND WHEN THE AMOUNT BECOMES VESTED IN A FUTURE YEAR, AS THE FORM 990 REQUIRES. THE FOLLOWING INDIVIDUALS RECEIVED A PAYOUT DURING THE CURRENT YEAR: GABRIEL AXELRUD, M.D. - $18,074 RYAN OWEN, M.D. - $15,174 THOMAS WINDISCH, MD - $11,214 JEREMY DALTON, M.D. - $9,053
PART I, LINE 7
NON-FIXED PAYMENTS THE PROVIDENCE EXECUTIVE COMPENSATION COMMITTEE (OF THE BOARD) HAS APPROVED AN EXECUTIVE COMPENSATION PHILOSOPHY THAT CLOSELY TIES AN EXECUTIVE'S COMPENSATION TO PERFORMANCE - BOTH THE PERFORMANCE OF THE ORGANIZATION AND THE PERFORMANCE OF THE EXECUTIVE. THERE IS NO GUARANTEE THAT THIS PART OF A LEADER'S COMPENSATION WILL BE PAID - IF THE PERFORMANCE OF THE ORGANIZATION OR OF THE INDIVIDUAL DOES NOT MEET THE PERFORMANCE STANDARDS FOR PAYMENT, NO PERFORMANCE-BASED PAYMENT IS MADE. THIS APPROACH IS REFLECTED IN PROVIDENCE'S LEADERSHIP ANNUAL INCENTIVE PLAN, WHICH IS A PERFORMANCE-BASED ANNUAL INCENTIVE PLAN THAT AFFORDS PARTICIPATING EXECUTIVES THE OPPORTUNITY TO EARN "AT RISK" COMPENSATION THROUGH PERFORMANCE AGAINST VERY CHALLENGING GOALS. PAYOUTS WILL BE AWARDED BASED ON GOALS RELATED TO STRATEGIC OBJECTIVES, FISCAL STEWARDSHIP AND QUALITY OF CARE - THESE GOALS ARE SET BEFORE THE YEAR BEGINS AND ARE VERY CHALLENGING. THE EXECUTIVE COMPENSATION COMMITTEE REVIEWS AND APPROVES EACH YEAR'S PERFORMANCE GOALS TO MAKE SURE THEY ARE SUFFICIENTLY CHALLENGING, AND TO MAKE SURE THE GOALS ARE DESIGNED TO HELP PROVIDENCE MEET ITS MISSION AND STRATEGIC PURPOSES. EACH YEAR THE PSJH BOARD EXECUTIVE COMPENSATION COMMITTEE REVIEWS THE INCENTIVE PERFORMANCE AND MUST CERTIFY THE ACHIEVEMENT OF PERFORMANCE GOALS BEFORE ANY AWARDS ARE PAID OUT. WHEN REVIEWING AND APPROVING TOTAL COMPENSATION FOR EXECUTIVES, THE EXECUTIVE COMPENSATION COMMITTEE INCLUDES INCENTIVE AWARDS, TO MAKE SURE THAT COMPENSATION IS REASONABLE AND WELL-SUPPORTED BY MARKET DATA. THE COMMITTEE CONSISTS ONLY OF DIRECTORS WHO ARE FREE OF CONFLICTS OF INTEREST, AND THE COMMITTEE RELIES ON MARKET SURVEY DATA GATHERED BY AN INDEPENDENT CONSULTANT. THE COMMITTEE CONDUCTS THIS REVIEW AND APPROVAL PROCESS IN A MANNER THAT IS IN ACCORDANCE WITH IRS REQUIREMENTS FOR COMPENSATION OF TAX-EXEMPT ORGANIZATION LEADERS, AND IN ACCORDANCE WITH THE BEST GOVERNANCE PRACTICES IN THE INDUSTRY.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Provenance

Return type
form_990
Tax year
2024
Filed
3 October 2025
IRS schema version
2024v5.2
Source object
202523089349301017

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