Covenant Living Services

Nonprofit profile at a glance

EIN
272480652
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-T 2021, Form 990-N 2010
Location
Skokie, IL, USA
Phone
7738782294
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Official website

Reported finances

Revenue
$1,811,981
Expenses
$1,414,124
Assets
$4,131,789
Liabilities
$2,709,728

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

Leadership & pay

30 people listed

Executive titles in this filing

  • DAVID G ERICKSON (DIRECTOR/EX-OFFICIO/CHIEF EXECUTIVE OFFICER)
  • TODD SLETCHA (DIRECTOR/EX-OFFICIO/CMB PRESIDENT)
  • 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 schdule o)

What it reported doing in 2024

Saido learning: saido learning is a cognitive exercise program developed by dr. Ryuta kowashima and the kumon institute of education in japan. Saido is deployed through 1:2 interactions between trained staff members or volunteers. The interaction involves engaging in a series of precise, yet simple reading, writing and arithmetic exercises specific to their level of ability, performed in 30-minute sessions four to five times per week. Saido focuses on what the participant can do vs what they cannot building confidence and independence. Saido is a program of covenant living that supports our common purpose.

Operating model

Revenue model
Other-operating. 100% 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: 58
  • Transparency & Controls: 67
  • Accountability: 79
  • Sustainability: 60
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 59.1%; rating input score 59
  • Program expense ratio: 75.7%; rating input score 76
  • 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: 78.9%; rating input score 79; 17th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 22%; rating input score 78; 78th percentile among comparable filings
  • Total-asset coverage ratio: 2.92; rating input score 74; 74th percentile among comparable filings
  • Liabilities to assets ratio: 0.66; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 75.6%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: -10.8% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: -6.5% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: -10.8% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 59.1% of revenue deployed · 75.7% of spending went to programs
  • Governance: 15 of 19 board members independent · 7 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $1.1M in reported program spending
  • Leadership: top reported pay $1.2M · 30 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules · includes executive pay and related organizations
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 34 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 59/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.