Skip to content
Nonprofiteer
← COVANTAGE CARES FOUNDATION INC

Form 990 for tax year 2023

Filed by COVANTAGE CARES FOUNDATION INC.

Totals

Total revenue
$352,505
Total expenses
$597,087
Contributions and grants received
$355,040
Grants paid
$595,491
Program service revenue
$0
Investment income
$2,337
Other revenue
-$4,872
Total assets, end of year
$126,358
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$126,358
Program services expenses (Part IX)
$595,491
Management and general expenses
$1,596
Fundraising expenses
$0
Program service expenses (Part III)
$595,491

Program services were 99.7% 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

    $17,215

  • 1d · Related organizations

    $150,000

  • 1f · All other contributions, gifts and grants

    $187,825

  • 3 · Investment income

    total $2,337 · excluded $2,337

  • 8a · Fundraising events: gross income

    $0

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

    $17,215

  • 8b · Fundraising events: direct expenses

    $6,080

  • 8c · Net income from fundraising events

    total -$6,080 · excluded -$6,080

  • 11d · All other revenue

    total $1,208 · excluded $1,208

  • 11e · Other revenue, total

    $1,208

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $595,491 · program services $595,491

  • 11c · Fees: accounting

    total $500 · management and general $500

  • 13 · Office expenses

    total $927 · management and general $927

  • 24a · Other expenses: REGISTRATION FEES

    total $169 · management and general $169

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $178,968 · end of year $100,268

  • 2 · Savings and temporary cash investments

    beginning of year $191,972 · end of year $26,090

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $370,940 · end of year $126,358

Mission and programs · 2023

Mission

THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES BY PROVIDING FINANCIAL ASSISTANCE TO INDIVIDUALS, ESPECIALLY THOSE EXPERIENCING SIGNIFICANT FINANCIAL CHALLENGE, AND TO ORGANIZATIONS WORKING TO ENHANCE THE QUALITY OF LIFE OF RESIDENTS LIVING IN THE COMMUNITIES SERVED BY COVANTAGE CREDIT UNION.

Activities or mission (Part I)

PROVIDE FINANCIAL ASSISTANCE TO INDIVIDUALS, ESPECIALLY THOSE EXPERIENCING SIGNIFICANT FINANCIAL CHALLENGES, AND TO ORGANIZATIONS WORKING TO ENHANCE THE QUALITY OF LIFE OF RESIDENTS LIVING IN THE COMMUNITIES SERVED BY COVANTAGE CREDIT UNION.

  • THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES BY PROVIDING FINANCIAL ASSISTANCE TO INDIVIDUALS, ESPECIALLY THOSE EXPERIENCING SIGNIFICANT FINANCIAL CHALLENGE, AND TO ORGANIZATIONS WORKING TO ENHANCE THE QUALITY OF LIFE OF RESIDENTS LIVING IN THE COMMUNITIES SERVED BY COVANTAGE CREDIT UNION (CCU).THE ORGANIZATION GAVE SEVERAL GRANTS DURING THE YEAR TO ORGANIZATIONS THAT HELP ACCOMPLISH THE MISSION OF ENHANCING THE QUALITY OF LIFE OF RESIDENTS LIVING IN THE COMMUNITIES SERVED BY CCU.

    Expenses $595,491 · Grants $595,491

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

Listed in Part VII

  • Charles Zanayed

    PRESIDENT

    Total calculated
    $758,258
    From this org
    $0
    From related orgs
    $687,017
    Other
    $71,241
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $662,111 related
    Bonus
    $0 + $23,766 related
    Other
    $0 + $1,140 related
    Deferred
    $0 + $47,151 related
    Nontaxable benefits
    $0 + $24,090 related
    Filer's total
    $0 + $758,258 related

  • Sherry Aulik

    VICE PRESIDENT (THRU 01/23)

    Total calculated
    $429,512
    From this org
    $0
    From related orgs
    $356,522
    Other
    $72,990
    Hours/week
    3 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $343,816 related
    Bonus
    $0 + $10,900 related
    Other
    $0 + $1,806 related
    Deferred
    $0 + $48,900 related
    Nontaxable benefits
    $0 + $24,090 related
    Filer's total
    $0 + $429,512 related

  • Joan Farrell

    VICE PRESIDENT

    Total calculated
    $307,259
    From this org
    $0
    From related orgs
    $275,984
    Other
    $31,275
    Hours/week
    3 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $263,901 related
    Bonus
    $0 + $9,311 related
    Other
    $0 + $2,772 related
    Deferred
    $0 + $14,229 related
    Nontaxable benefits
    $0 + $17,046 related
    Filer's total
    $0 + $307,259 related

  • Janel Thoune

    TREASURER

    Total calculated
    $213,238
    From this org
    $0
    From related orgs
    $173,249
    Other
    $39,989
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $167,642 related
    Bonus
    $0 + $5,240 related
    Other
    $0 + $367 related
    Deferred
    $0 + $15,960 related
    Nontaxable benefits
    $0 + $24,029 related
    Filer's total
    $0 + $213,238 related

  • Sheila Rossmiller

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Shane Lathrop

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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

None.

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE ORGANIZATION DOES NOT COMPENSATE ANY OFFICERS, HOWEVER THEIR RELATED PARTY PERFORMS THE FOLLOWING IN RELATION TO THE COMPENSATION OF THE CEO/EXECUTIVE DIRECTOR: -FORM 990 OF OTHER ORGANIZATIONS -COMPENSATION SURVEY OR STUDY -APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE

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

The 10 largest by cash amount. The API serves every itemized grant.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
21 August 2024
IRS schema version
2023v5.1
Source object
202432499349300838

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.