Covenant Initiatives for Care Inc

Nonprofit profile at a glance

EIN
271841721
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-N 2022
Location
Chicago, IL, USA
Phone
7739891610
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$940,139
Expenses
$512,876
Assets
$6,729,472
Liabilities
$0

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

Leadership & pay

15 people listed

Executive titles in this filing

  • TODD SLETCHA (EX-OFFICIO/PRESIDENT OF CMB & CIC)

Highest reported compensation

  • TODD SLETCHA (EX-OFFICIO/PRESIDENT OF CMB & CIC): $391,690 total reported compensation
  • SCOTT HANSON (SVP OF FINANCE/EX-OFFICIO): $265,499 total reported compensation

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

Overview

Mission

Our mission is to express the life giving and sustaining ministry of jesus christ through the development, advancement and governance of mission driven organizations serving people who are sick, disabled, aging, poor or vulnerable.

What it reported doing in 2024

Cic provides overarching governance, marketing and some administration for cic ministries as follows: 1. Covenant ability network "can" (formerly covenant enabling residences) promotes a fulfilling lifestyle for developmentally disabled adults. Enabling an enhanced quality of life whether that is living independently, being gainfully employed or making a meaningful contribution to society - is the heart of their mission. Can operates in 3 states: Illinois, Michigan and Minnesota. 2. Covenant children's ministries "ccm" role is a grant making agency primarily to covenant church related programs for at-risk youth.

Operating model

Revenue model
Other-operating. 89% 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.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 55
  • Transparency & Controls: 67
  • Accountability: 78
  • Sustainability: 83
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 50.2%; rating input score 50
  • Program expense ratio: 81.1%; rating input score 81
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 92.9%; rating input score 93; 24th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: 45.4%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 13.12; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 20.3%; rating input score 14; 14th percentile among comparable filings

Growth

  • Program expense growth: -14.8% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: 27.6% per year; rating input score 100; 91st percentile among comparable filings
  • Asset growth: 35% per year; rating input score 100; 93rd percentile among comparable filings

Details

  • Where the money goes: 50.2% of revenue deployed · 81.1% of spending went to programs
  • Governance: 13 of 14 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $416K in reported program spending
  • Leadership: top reported pay $392K · 15 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 5 filed schedules · includes executive pay and related organizations
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 40 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 — Financial Efficiency: Mission deployment rate scored 50/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 14/100.