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← COVENANT INTERNATIONAL FOUNDATION

Form 990 for tax year 2022

Filed by COVENANT INTERNATIONAL FOUNDATION.

Totals

Total revenue
$266,283
Total expenses
$296,443
Contributions and grants received
$266,283
Grants paid
$263,853
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$921,325
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$921,325
Program services expenses (Part IX)
$296,443
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$296,443

Program services were 100.0% 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.

  • 1d · Related organizations

    $266,283

Functional expenses

Part IX, the statement of functional expenses.

  • 3 · Grants to foreign organizations and individuals

    total $263,853 · program services $263,853

  • 22 · Depreciation, depletion and amortization

    total $30,160 · program services $30,160

  • 23 · Insurance

    total $2,430 · program services $2,430

Balance sheet

Part X, book values.

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

    $1,780,201

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

    $858,876

  • 10c · Land, buildings and equipment, net

    beginning of year $897,678 · end of year $921,325

  • 27 · Net assets without donor restrictions

    beginning of year $897,678 · end of year $921,325

Mission and programs · 2022

Mission

COVENANT INTERNATIONAL FOUNDATION WAS INCORPORATED TO ACQUIRE TITLE TO REAL PROPERTY AND MAKE THE SAME AVAILABLE ON REASONABLE TERMS AT NOT MORE THAN INCIDENTAL PROFIT TO CHARITABLE ORGANIZATIONS OPERATING AND MAINTAINING INSTITUTIONS FOR THE CARE AND MAINTENANCE OF DESTITUTE, DELINQUENT, ABANDONED, NEGLECTED, DEPENDENT, NOMADIC AND SEMI-NOMADIC YOUTH AND PERSONS IN NEED OF SUPERVISION.

  • COVENANT INTERNATIONAL FOUNDATION WAS INCORPORATED TO ACQUIRE TITLE TO REAL PROPERTY AND MAKE THE SAME AVAILABLE ON REASONABLE TERMS AT NOT MORE THAN INCIDENTAL PROFIT TO CHARITABLE ORGANIZATIONS OPERATING AND MAINTAINING INSTITUTIONS FOR THE CARE AND MAINTENANCE OF DESTITUTE, DELINQUENT, ABANDONED, NEGLECTED, DEPENDENT, NOMADIC AND SEMI-NOMADIC YOUTH AND PERSONS IN NEED OF SUPERVISION.

    Expenses $296,443 · Grants $263,853

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

Listed in Part VII

  • KEVIN RYAN

    PRESIDENT & CEO, THRU FEB 2023

    Total calculated
    $0
    Hours/week
    0.5 + 34.5 related

  • PAMELA KOURNETAS

    TREASURER

    Total calculated
    $402,901
    From this org
    $0
    From related orgs
    $383,268
    Other
    $19,633
    Hours/week
    0.5 + 34.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $369,377 related
    Bonus
    $0
    Other
    $0 + $13,891 related
    Deferred
    $0 + $18,855 related
    Nontaxable benefits
    $0 + $778 related
    Filer's total
    $0 + $402,901 related

  • DEIRDRE CRONIN

    SECRETARY THRU MARCH 2023

    Total calculated
    $686,788
    From this org
    $0
    From related orgs
    $346,662
    Other
    $340,126
    Hours/week
    0.5 + 34.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $345,322 related
    Bonus
    $0
    Other
    $0 + $1,340 related
    Deferred
    $0 + $301,652 related
    Nontaxable benefits
    $0 + $38,474 related
    Filer's total
    $0 + $686,788 related

  • WILLIAM BEDROSSIAN

    PRESIDENT & CEO AS OF FEB 2023

    Total calculated
    $334,937
    From this org
    $0
    From related orgs
    $297,629
    Other
    $37,308
    Hours/week
    0.5 + 34.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $297,539 related
    Bonus
    $0
    Other
    $0 + $90 related
    Deferred
    $0 + $8,255 related
    Nontaxable benefits
    $0 + $29,053 related
    Filer's total
    $0 + $334,937 related

  • JOHN DUCOFF

    SECRETARY

    Total calculated
    $401,956
    From this org
    $0
    From related orgs
    $349,908
    Other
    $52,048
    Hours/week
    0.5 + 34.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $349,441 related
    Bonus
    $0
    Other
    $0 + $467 related
    Deferred
    $0 + $24,964 related
    Nontaxable benefits
    $0 + $27,084 related
    Filer's total
    $0 + $401,956 related

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 PRESIDENT/CEO'S COMPENSATION IS DETERMINED BY THE EXECUTIVE COMMITTEE OF COVENANT HOUSE INTERNATIONAL (PARENT) WORKING IN CONJUNCTION WITH COMPARABILITY DATA SUCH AS SALARY SURVEYS WITH SIMILARLY SIZED NON-PROFITS. PERIODICALLY THE ORGANIZATION HIRES AN INDEPENDENT CONSULTANT TO REVIEW COMPARABLE SALARIES FOR THE PRESIDENT/CEO, OTHER OFFICERS AND KEY EMPLOYEES. GENERALLY THE BOARD EVALUATES THE PRESIDENT'S COMPENSATION ANNUALLY. THE DETERMINATION IS BASED ON THE PERFORMANCE EVALUATION THAT FACTORS INTO ACCOUNT EFFECTIVENESS, PERFORMANCE, AND ACHIEVEMENT OF GOALS.

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 partnerships

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

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202411369349311551

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