Covenant Life Ministries

Nonprofit profile at a glance

EIN
830388742
IRS 990 coverage
2025–2025
Forms available
Form 990 2025, Form 990-EZ 2024
Location
Clyde, NC, USA
Phone
8286279000
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Protestant
Affiliation
Christianity

Official website

Reported finances

Revenue
$194,284
Expenses
$160,382
Assets
$147,437
Liabilities
$501

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • Rev Frank Harvey (President)

Highest reported compensation

  • Rev Frank Harvey (President): $34,700 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Sharing the Good News of Jesus Christ to a lost and dying world.

What it reported doing in 2025

All of the organizations expenditures listed on Page 1 were incurred in accorance wih the purpose of the organization, that is, spreading the Good News of Jesus Christ to a lost and dying world.

Operating model

Revenue model
Donor-supported. 97% of the money available for current operations came from contributions and gifts.
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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 92
  • Accountability: 56
  • Sustainability: 51
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.8%; rating input score 92
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 60%; rating input score 60; 20th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 17.4%; rating input score 68; 68th percentile among comparable filings
  • Total-asset coverage ratio: 0.92; rating input score 39; 39th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 46; 46th percentile among comparable filings
  • Officer compensation ratio: 21.6%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 15.7% per year; rating input score 100; 81st percentile among comparable filings
  • Asset growth: 18.5% per year; rating input score 100; 81st percentile among comparable filings

Details

  • Where the money goes: 91.8% of revenue deployed · 100% of spending went to programs
  • Governance: 3 of 5 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $160K in reported program spending
  • Leadership: top reported pay $35K · 5 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Money network: 2 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.

Key Signals

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

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 39/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 46/100.