Covenant Home
Nonprofit profile at a glance
- EIN
- 362643638
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Northbrook, IL, USA
- Phone
- 8474806380
- Rating
- 69
- Verdict
- SUPPORTED
- Rating confidence
- Standard
- Sector
- Supportive Housing for Older Adults
- Affiliation
- Christianity
Reported finances
- Revenue
- $28,420,958
- Expenses
- $20,197,043
- Assets
- $229,830,880
- Liabilities
- $184,136,803
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
36 people listed
Executive titles in this filing
- DAVID G ERICKSON (DIRECTOR/EX-OFFICIO/CHIEF EXECUTIVE OFFICER)
- TODD SLETCHA (DIRECTOR/EX-OFFICIO/CMB PRESIDENT)
- HILDE SAGER (ASSOCIATE VICE PRESIDENT, OPERATIONS)
- MICHELLE PARDUN (EXECUTIVE DIRECTOR)
- JENNA MYRCZIK (ASSOCIATE EXECUTIVE DIRECTOR)
- TERRI S CUNLIFFE (FORMER DIRECTOR AND CLCS PRESIDENT/CEO - THRU 05/24)
Highest reported compensation
- TERRI S CUNLIFFE (FORMER DIRECTOR AND CLCS PRESIDENT/CEO - THRU 05/24): $1,177,166 total reported compensation
- DAVID G ERICKSON (DIRECTOR/EX-OFFICIO/CHIEF EXECUTIVE OFFICER): $810,861 total reported compensation
- JEAN E JUSTIE (CHIEF FINANCIAL OFFICER/TREASURER/ASSISTANT SEC): $693,761 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
(see schedule o)
What it reported doing in 2024
Residential living: the number of persons who benefited from the services we provided for the year ended september 30, 2025 were as follows: there were a total of 388 residents, occupying 299 apartments at 9/30/25 residency for the fiscal year totaled 139,750 resident days.
Operating model
- Revenue model
- Other-operating. 79% of the money available for current operations came from other operating 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 most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and a relatively small share of available resources goes toward mission work.
Rating breakdown
- Financial Efficiency: 57
- Transparency & Controls: 69
- Accountability: 83
- Sustainability: 72
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 59.3%; rating input score 59
- Program expense ratio: 67.5%; rating input score 68
- Fundraising efficiency: $3.66 raised per $1 spent on fundraising; rating input score 14; 14th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 78.9%; rating input score 79; 15th percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Fail
- 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: 28.9%; rating input score 88; 88th percentile among comparable filings
- Total-asset coverage ratio: 11.38; rating input score 92; 92nd percentile among comparable filings
- Liabilities to assets ratio: 0.8; rating input score 14; 14th percentile among comparable filings
- Officer compensation ratio: 10.6%; rating input score 18; 18th percentile among comparable filings
Growth
- Program expense growth: 2.9% per year; rating input score 100; 25th percentile among comparable filings
- Revenue growth: 6.3% per year; rating input score 100; 55th percentile among comparable filings
- Asset growth: 7.3% per year; rating input score 100; 51st percentile among comparable filings
Details
- Where the money goes: 59.3% of revenue deployed · 67.5% of spending went to programs
- Governance: 15 of 19 board members independent · 8 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $13.6M in reported program spending
- Leadership: top reported pay $1.2M · 36 people listed · 0 of 6 pay-setting controls reported
- Consistency: 36 of 36 current checks pass
- Schedules: 8 filed schedules · includes major donors and executive pay
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 6 filed money-flow records
- Related organizations: 32 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.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- Review — Financial Efficiency: Mission deployment rate scored 59/100.
- High — Financial Efficiency: Fundraising efficiency scored 14/100.
- Review — Accountability: Governance controls: CEO compensation review process not reported.
- High — Sustainability: Liabilities to assets ratio scored 14/100.
- High — Sustainability: Officer compensation ratio scored 18/100.