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Nonprofiteer
← COVENANT KIDS INC

Form 990 for tax year 2023

Filed by COVENANT KIDS INC.

Totals

Total revenue
$23,172,170
Total expenses
$23,236,462
Contributions and grants received
$1,030,678
Grants paid
$5,759,209
Program service revenue
$22,084,335
Investment income
$11,029
Other revenue
$46,128
Total assets, end of year
$9,470,523
Total liabilities, end of year
$2,939,391
Net assets or fund balances, end of year
$6,531,132
Program services expenses (Part IX)
$21,831,721
Management and general expenses
$1,238,854
Fundraising expenses
$165,887
Program service expenses (Part III)
$21,831,721

Program services were 94.0% 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.

  • 1f · All other contributions, gifts and grants

    $1,030,678

  • 2a · Program service revenue: FOSTER PROGRAM

    total $12,158,136 · related or exempt $12,158,136

  • 2b · Program service revenue: MENTAL HEALTH SERVICES

    total $6,104,064 · related or exempt $6,104,064

  • 2c · Program service revenue: KINSHIP/FAP

    total $2,229,998 · related or exempt $2,229,998

  • 2d · Program service revenue: POST ADOPTION SERVICES

    total $1,014,789 · related or exempt $1,014,789

  • 2e · Program service revenue: ADOPTION REVENUE

    total $462,600 · related or exempt $462,600

  • 2f · All other program service revenue

    total $114,748 · related or exempt $114,748

  • 3 · Investment income

    total $11,029 · excluded $11,029

  • 6a · Gross rents

    real property $16,680

  • 6b · Less rental expenses

    real property $16,201

  • 6c · Rental income or loss

    real property $479

  • 6d · Net rental income or loss

    total $479 · unrelated business $479

  • 11a · Other revenue: RETIREMENT MATCH FORFEITURE

    total $18,393 · excluded $18,393

  • 11b · Other revenue: RETURNS/REFUNDS

    total $12,431 · excluded $12,431

  • 11c · Other revenue: MISCELLANEOUS INCOME

    total $12,158 · excluded $12,158

  • 11d · All other revenue

    total $2,667 · excluded $2,667

  • 11e · Other revenue, total

    $45,649

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,000 · program services $2,000

  • 2 · Grants to domestic individuals

    total $5,757,209 · program services $5,757,209

  • 5 · Compensation of officers, directors and key employees

    total $397,870 · program services $324,517 · management and general $52,005 · fundraising $21,348

  • 7 · Other salaries and wages

    total $9,779,497 · program services $9,305,242 · management and general $368,699 · fundraising $105,556

  • 8 · Pension plan contributions

    total $17,884 · program services $17,832 · fundraising $52

  • 9 · Other employee benefits

    total $855,615 · program services $820,610 · management and general $27,450 · fundraising $7,555

  • 10 · Payroll taxes

    total $774,527 · program services $736,619 · management and general $28,655 · fundraising $9,253

  • 11b · Fees: legal

    total $19,719 · program services $19,582 · fundraising $137

  • 11c · Fees: accounting

    total $638,401 · program services $247,615 · management and general $388,531 · fundraising $2,255

  • 11g · Fees: other

    total $1,691,320 · program services $1,690,402 · fundraising $918

  • 12 · Advertising and promotion

    total $54,976 · program services $54,652 · fundraising $324

  • 13 · Office expenses

    total $386,930 · program services $357,138 · management and general $20,905 · fundraising $8,887

  • 14 · Information technology

    total $410,753 · program services $408,126 · fundraising $2,627

  • 16 · Occupancy

    total $598,297 · program services $593,829 · fundraising $4,468

  • 17 · Travel

    total $367,042 · program services $366,078 · fundraising $964

  • 19 · Conferences, conventions and meetings

    total $1,415 · program services $1,404 · fundraising $11

  • 20 · Interest

    total $36,301 · management and general $36,301

  • 22 · Depreciation, depletion and amortization

    total $12,499 · program services $12,405 · fundraising $94

  • 23 · Insurance

    total $338,232 · program services $21,690 · management and general $316,308 · fundraising $234

  • 24a · Other expenses: THERAPY

    total $348,651 · program services $348,651

  • 24b · Other expenses: RECRUITMENT

    total $173,890 · program services $173,682 · fundraising $208

  • 24c · Other expenses: RELATIONS

    total $171,195 · program services $170,416 · fundraising $779

  • 24d · Other expenses: TRAINING

    total $152,447 · program services $152,284 · fundraising $163

  • 24e · All other expenses

    total $249,792 · program services $249,738 · fundraising $54

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,201,072 · end of year $1,260,721

  • 2 · Savings and temporary cash investments

    beginning of year $47,940 · end of year $12,588

  • 4 · Accounts receivable

    beginning of year $7,380,449 · end of year $8,092,950

  • 5 · Loans and receivables from officers and key people

    beginning of year $25,871 · end of year $25,870

  • 9 · Prepaid expenses and deferred charges

    beginning of year $139,608 · end of year $52,871

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

    $194,242

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

    $170,697

  • 10c · Land, buildings and equipment, net

    beginning of year $6,598 · end of year $23,545

  • 14 · Intangible assets

    beginning of year $3,956 · end of year $1,978

  • 15 · Other assets

    beginning of year $27,213

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,351,787 · end of year $1,233,009

  • 19 · Deferred revenue

    beginning of year $394,172 · end of year $687,498

  • 24 · Unsecured notes and loans payable

    beginning of year $427,193 · end of year $1,018,884

  • 27 · Net assets without donor restrictions

    beginning of year $6,659,555 · end of year $6,531,132

Mission and programs · 2023

Mission

PEOPLE UNITED THROUGH GOD TO ENHANCE THE PHYSICAL, EMOTIONAL, AND SPIRITUAL WELL-BEING OF AT RISK CHILDREN AND FAMILIES.

Activities or mission (Part I)

TO PROVIDE A SAFE, LOVING, AND STRUCTURED FAMILY ENVIRONMENT IN WHICH CHILDREN MAY GROW, MATURE, AND EXPERIENCE THE LOVE OF GOD.

  • COVENANT KIDS FOSTER CARE PROGRAM PLACES CHILDREN IN NEED INTO APPROVED FOSTER HOMES AND ASSISTS IN PROVIDING BASIC AND THERAPEUTIC FOSTER CARE TO ENHANCE A CHILD'S WELL-BEING IN A FAMILY SETTING. THE PROGRAM PROVIDES FOSTER FAMILIES WITH MONETARY SUPPLEMENTS AND OTHER RESOURCES FOR DAILY MAINTENANCE. IN 2023, THE ORGANIZATION WORKED WITH 348 FOSTER FAMILIES AND 828 CHILDREN.

    Expenses $7,862,900 · Grants $921,583 · Revenue $18,376,948

  • COVENANT KIDS POST ADOPTION PROGRAM OFFERS GUIDANCE AND SUPPORT TO FAMILIES WHO HAVE ADOPTED CHILDREN FROM CHILD PROTECTIVE SERVICES. THE PROGRAM ASSISTS ADOPTIVE FAMILIES IN ADJUSTING TO THE NEW FAMILY DYNAMIC, COPE WITH THE CHILD'S HISTORY OF ABUSE, NEGLECT AND TRAUMA AND ASSIST WITH MENTAL HEALTH ISSUES THE CHILD MAY BE EXPERIENCING. IN 2023, THE ORGANIZATION SERVED 506 FAMILIES AND 775 CHILDREN.

    Expenses $1,098,983 · Revenue $1,014,789

  • COVENANT KIDS CONDUCTS KINSHIP AND HOME STUDY ASSESSMENTS FOR THOSE FAMILIES SEEKING TO RECEIVE A CHILD IN THE CARE OF THE TEXAS DEPARTMENT OF FAMILY AND PROTECTIVE SERVICES.

    Expenses $12,335,722 · Grants $4,837,627 · Revenue $2,229,998

  • COVENANT KIDS ADOPTION PROGRAM PROVIDES PLACEMENT SERVICES TO THOSE FAMILIES WHO HAVE ELECTED MATCHED OR FOSTER CARE TO ADOPT SERVICES. DURING 2023, THE ADOPTION PROGRAM HAD 120 COMPLETED ADOPTIONS.

    Expenses $534,116 · Revenue $462,600

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • KAREN LUND

    ED/PRES/DIR.

    Total calculated
    $209,087
    From this org
    $196,611
    From related orgs
    $0
    Other
    $12,476
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $196,611
    Bonus
    not reported
    Other
    not reported
    Deferred
    $2,513
    Nontaxable benefits
    $9,963
    Filer's total
    $209,087

  • RON SCHMIDT

    VP/DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DANIEL LUND

    SEC/TREAS/DI

    Total calculated
    $251,223
    From this org
    $225,225
    From related orgs
    $0
    Other
    $25,998
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $215,225
    Bonus
    $10,000
    Other
    not reported
    Deferred
    $414
    Nontaxable benefits
    $25,584
    Filer's total
    $251,223

  • PAM SCHMIDT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TODD NORTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JESSICA FIELDER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DANIELLE ADAMA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MATT RINKER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MIKE MORAN

    CFO

    Total calculated
    $157,648
    From this org
    $0
    From related orgs
    $147,883
    Other
    $9,765
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    not reported + $147,883 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $1,151 related
    Nontaxable benefits
    not reported + $8,614 related
    Filer's total
    not reported + $157,648 related

  • MARK LINDSKOG

    DIRECTOR OF

    Total calculated
    $135,112
    From this org
    $128,845
    From related orgs
    $0
    Other
    $6,267
    Hours/week
    40

  • MICHAEL SCRIVNER

    SR DIR FAMIL

    Total calculated
    $104,121
    From this org
    $104,121
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • JIMMY DOMINEY

    VP OF OPERAT

    Total calculated
    $126,728
    From this org
    $119,729
    From related orgs
    $0
    Other
    $6,999
    Hours/week
    40

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

  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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)

SCHEDULE J, PAGE 1, PART I, LINE 7
THE BOARD MAY AT ITS DISCRETION PAY A DISCRETIONARY BONUS TO ANY OF THE OFFICERS TO COMPENSATE THEM FOR EXCEPTIONAL WORK PERFORMED DURING THE YEAR. THESE BONUSES ARE PAID AT THE DISCRETION OF THE BOARD BASED ON THE PERFORMANCE OF THE OFFICER AND FUNDS AVAILABLE FOR THE PAYMENT OF THE BONUS. DURING 2023, DANIEL LUND RECEIVED A DISCRETIONARY BONUS.

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

No itemized grants to organizations 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 corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.0
Source object
202433189349303898

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