Covenant Healthshare Inc

Nonprofit profile at a glance

EIN
850663195
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Atlanta, GA, USA
Phone
8555391552
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Human Service Organizations
Affiliation
Christianity

Official website

Reported finances

Revenue
$15,158,797
Expenses
$12,843,699
Assets
$3,222,372
Liabilities
$40,009

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

Leadership & pay

5 people listed

Executive titles in this filing

  • WAYNE MARTIN JR (DIRECTOR, PRESIDENT & CEO)

Highest reported compensation

  • WAYNE MARTIN JR (DIRECTOR, PRESIDENT & CEO): $319,032 total reported compensation
  • BISHOP ARTHUR MOSLEY (BOARD SECRETARY): $126,253 total reported compensation
  • CHRISTA FREEMAN (CFO): $53,027 total reported compensation

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

Overview

Mission

To glorify god through the facilitation of sharing members' medical needs, provide support and prayer in members' time of burden, preach and empower the word of god, and encourage a healthy lifestyle for christ.

What it reported doing in 2024

Create a community of christians that aid one another's burdens and empower the word of god globally. Our foundation is built on the rich legacy of the church of god in christ, inc. (cogic), a christian organization in the holiness-pentecostal tradition. Cogic is the largest pentecostal denomination in the united states, with congregations in all 50 states and in over 100 countries around the world.

Operating model

Revenue model
Earned-program. 100% 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.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 85
  • Accountability: 42
  • Sustainability: 56
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.3%; rating input score 83
  • Program expense ratio: 98.3%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 4th 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: 57.1%; rating input score 57; 9th percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 22
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 15.3%; rating input score 77; 77th percentile among comparable filings
  • Total-asset coverage ratio: 0.25; rating input score 6; 6th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 92; 92nd percentile among comparable filings
  • Officer compensation ratio: 3.9%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: 60.8% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 59.1% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: 60% per year; rating input score 100; 99th percentile among comparable filings

Details

  • Where the money goes: 83.3% of revenue deployed · 98.3% of spending went to programs
  • Governance: 4 of 7 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $12.6M in reported program spending
  • Leadership: top reported pay $319K · 5 people listed
  • Highest-paid contractors: 2 contractors listed · $1.3M reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Accountability: Governance controls: 6 of 8 not reported.
  • Review — Accountability: Independent voting board scored 57/100.
  • High — Sustainability: Total-asset coverage ratio scored 6/100.