Covenant Enabling Residences of Minnesota

Nonprofit profile at a glance

EIN
411879965
IRS 990 coverage
2023–2024
Forms available
Form 990 2024
Location
Duluth, MN, USA
Phone
2186243097
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Affiliation
Christianity

Reported finances

Revenue
$6,601,937
Expenses
$4,987,796
Assets
$6,181,031
Liabilities
$3,745,086

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • Laura Daire (Executive Director)
  • Dana Norton (Executive Director)

Highest reported compensation

  • David Boggs (Assistant Secretary): $170,242 total reported compensation
  • Tracy Christenson (Controller): $134,361 total reported compensation
  • Laura Daire (Executive Director): $125,953 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide high-quality living opportunities for adults with developmental disabilities in a christian environment on behalf of the evangelical covenant church.

What it reported doing in 2024

Provide high-quality living opportunities for adults.

Operating model

Revenue model
Earned-program. 82% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 86
  • Accountability: 95
  • Sustainability: 57
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62.2%; rating input score 62
  • Program expense ratio: 85.4%; rating input score 85
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 13th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 24.4%; rating input score 81; 81st percentile among comparable filings
  • Total-asset coverage ratio: 1.24; rating input score 44; 44th percentile among comparable filings
  • Liabilities to assets ratio: 0.61; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 8.3%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: 4.5% per year; rating input score 100; 36th percentile among comparable filings
  • Revenue growth: 28.8% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: 42.6% per year; rating input score 100; 97th percentile among comparable filings

Details

  • Where the money goes: 62.2% of revenue deployed · 85.4% of spending went to programs
  • Governance: 5 of 5 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $4.3M in reported program spending
  • Leadership: top reported pay $170K · 9 people listed
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 4 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 44/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.