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Nonprofiteer
← COVANTAGE CARES FOUNDATION INC

Form 990 for tax year 2022

Filed by COVANTAGE CARES FOUNDATION INC.

Totals

Total revenue
$503,456
Total expenses
$610,722
Contributions and grants received
$502,088
Grants paid
$603,858
Program service revenue
$0
Investment income
$1,368
Other revenue
$0
Total assets, end of year
$370,940
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$370,940
Program services expenses (Part IX)
$603,858
Management and general expenses
$6,864
Fundraising expenses
$0
Program service expenses (Part III)
$603,858

Program services were 98.9% 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.

  • 1d · Related organizations

    $200,000

  • 1f · All other contributions, gifts and grants

    $302,088

  • 3 · Investment income

    total $1,368 · excluded $1,368

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $603,858 · program services $603,858

  • 13 · Office expenses

    total $6,864 · management and general $6,864

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $32,116 · end of year $178,968

  • 2 · Savings and temporary cash investments

    beginning of year $446,090 · end of year $191,972

  • 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 $478,206 · end of year $370,940

Mission and programs · 2022

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 $603,858 · Grants $603,858

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • CHARLES ZANAYED

    PRESIDENT

    Total calculated
    $680,221
    From this org
    $0
    From related orgs
    $621,952
    Other
    $58,269
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $589,766 related
    Bonus
    $0 + $31,046 related
    Other
    $0 + $1,140 related
    Deferred
    $0 + $37,245 related
    Nontaxable benefits
    $0 + $21,024 related
    Filer's total
    $0 + $680,221 related

  • SHERRY AULIK

    VICE PRESIDENT

    Total calculated
    $373,302
    From this org
    $0
    From related orgs
    $307,378
    Other
    $65,924
    Hours/week
    3 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $292,591 related
    Bonus
    $0 + $12,981 related
    Other
    $0 + $1,806 related
    Deferred
    $0 + $44,900 related
    Nontaxable benefits
    $0 + $21,024 related
    Filer's total
    $0 + $373,302 related

  • JOAN FARRELL

    TREASURER

    Total calculated
    $299,067
    From this org
    $0
    From related orgs
    $267,410
    Other
    $31,657
    Hours/week
    3 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $252,619 related
    Bonus
    $0 + $12,019 related
    Other
    $0 + $2,772 related
    Deferred
    $0 + $17,630 related
    Nontaxable benefits
    $0 + $14,027 related
    Filer's total
    $0 + $299,067 related

  • SHEILA ROSSMILLER

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • JANEL THOUNE

    DIRECTOR/SVP-MARKETING & MISSION

    Total calculated
    $167,456
    From this org
    $0
    From related orgs
    $137,010
    Other
    $30,446
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $136,716 related
    Bonus
    $0
    Other
    $0 + $294 related
    Deferred
    $0 + $12,695 related
    Nontaxable benefits
    $0 + $17,751 related
    Filer's total
    $0 + $167,456 related

  • BETSY KOMMERS

    DIRECTOR (THRU 07/22)

    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
2022
Filed
23 October 2023
IRS schema version
2022v5.0
Source object
202303129349302850

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

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