Covenant Living Communities and Services

Nonprofit profile at a glance

EIN
363478388
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Skokie, IL, USA
Phone
7738782294
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Supportive Housing for Older Adults

Official website

Reported finances

Revenue
$75,614,687
Expenses
$78,785,956
Assets
$306,813,967
Liabilities
$192,640,025

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

Leadership & pay

34 people listed

Executive titles in this filing

  • DAVID G ERICKSON (DIRECTOR/EX-OFFICIO/CHIEF EXECUTIVE OFFICER)
  • TODD SLETCHA (DIRECTOR/EX-OFFICIO/CMB PRESIDENT)
  • MIA LEIBOW (VICE PRESIDENT, FINANCIAL PLANNING & ANALYSIS)
  • RANDAL GROSS (SENIOR VICE PRESIDENT, PROJECT DEVELOPMENT)
  • 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 on schedule o)

What it reported doing in 2024

The number of persons residing at the continuing care retirement communities that benefited from the services we provided for the year ended september 30, 2025, were as follows: residential & catered living: there were a total of 3,780 residents, occupying 2,978 apartments at 09/30/2025. Residency for the fiscal year totaled 1,350,316 resident days. Assisted living: there were a total of 515 residents at 09/30/2025. Assisted living residency for the fiscal year totaled 175,053 resident days. Assisted living memory support: there were a total of 130 residents at 09/30/2025. Assisted living memory support residency for the fiscal year totaled 47,244 resident days. Skilled nursing: there were a total of 694 residents at 09/30/2025. Skilled care residency for the fiscal year totaled 248,246 resident days.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 77
  • Accountability: 88
  • Sustainability: 34
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92%; rating input score 92
  • Program expense ratio: 79.2%; rating input score 79
  • Fundraising efficiency: $0.32 raised per $1 spent on fundraising; rating input score 1; 1st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 78.9%; rating input score 79; 27th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: -4.2%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 3.89; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0.63; rating input score 26; 26th percentile among comparable filings
  • Officer compensation ratio: 9.8%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: 5.8% per year; rating input score 100; 47th percentile among comparable filings
  • Revenue growth: 5.1% per year; rating input score 100; 44th percentile among comparable filings
  • Asset growth: 9.6% per year; rating input score 100; 68th percentile among comparable filings

Details

  • Where the money goes: 92% of revenue deployed · 79.2% of spending went to programs
  • Governance: 15 of 19 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $62.4M in reported program spending
  • Leadership: top reported pay $1.2M · 34 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $29.5M reported
  • Consistency: 37 of 37 current checks pass
  • Schedules: 9 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 15 filed money-flow records
  • Related organizations: 33 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: Foreign activity oversight scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 1/100.
  • High — Sustainability: Operating margin scored 14/100.
  • High — Sustainability: Officer compensation ratio scored 3/100.
  • High — Sustainability: Liabilities to assets ratio scored 26/100.