Covenant HealthCare
Legal name: Covenant Medical Center Inc
Nonprofit profile at a glance
- EIN
- 383369438
- IRS 990 coverage
- 2009–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Saginaw, MI, USA
- Phone
- 9895836006
- Rating
- 81
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Hospital, General
Reported finances
- Revenue
- $915,996,052
- Expenses
- $921,889,564
- Assets
- $901,046,200
- Liabilities
- $333,547,510
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
27 people listed
Executive titles in this filing
- BETHANY CHARLTON (PRESIDENT)
- KEVIN ALBOSTA (VICE PRESIDENT)
- KEVIN BIRCHMEIER (VICE PRESIDENT)
- FRANK FEAR (VICE PRESIDENT)
- PATRICE LANCZAK (VICE PRESIDENT)
- DAVID NALL (VICE PRESIDENT)
Highest reported compensation
- BAKRI KAAKEH (PHYSICIAN): $2,263,761 total reported compensation
- KEVIN ALBOSTA (VICE PRESIDENT): $2,242,171 total reported compensation
- BETHANY CHARLTON (PRESIDENT): $1,907,478 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Extraordinary care for every generation. Our organization is 4,700 members strong and growing. Every team member is committed to upholding the highest standards of patient-centered care and support. If you’re dedicated to our mission of providing extraordinary care for every patient, there’s a place for you at Covenant. CAREER OPPORTUNITIES icims button advanced practice provider icon. But as a non-profit, our extraordinary care goes beyond our outstanding medical services. It’s our compassionate and caring team that makes the difference; their support means you always have someone by your side from diagnosis to recovery. We go above and beyond for our patients every day, and in every way. And that extraordinary commitment extends to the communities we serve. Because by working together for a healthier community, we can build a better tomorrow for generations to come. Here’s why more...
What it reported doing in 2024
One of the largest, most comprehensive health care facilities north of metro detroit, covenant healthcare is prepared to respond to the diverse medical needs of our region. We offer a broad spectrum of programs and services ranging from obstetrics, neonatal and pediatric care, to acute care including cardiology, oncology, surgery and many other services on the leading edge of medicine. All of our programs and services exemplify our commitment to providing quality, compassionate care. As a medical facility with more than 600 beds and a complete range of medical services, covenant healthcare stands ready to meet the needs of the 14 counties in east central Michigan we serve. With more than 20 inpatient and outpatient facilities, covenant healthcare offers convenience and easy access to high quality care. The medical center provided the following for the fiscal year 2025: 6,052 women's and children's cases, 3,639 cardiology cases, 4,016 general medical cases, 2,782 pulmonary cases, 1,878 neuro cases, and 1,882 gi med cases.
Operating model
- Revenue model
- Earned-program. 98% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 96% 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
STRONG - 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 expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 81
- Transparency & Controls: 81
- Accountability: 90
- Sustainability: 35
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 91.5%; rating input score 91
- Program expense ratio: 90.3%; rating input score 90
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
- Pay-setting controls: 5 of 6 controls in place; rating input score 83
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Pass
- 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: 83.3%; rating input score 83; 31st percentile among comparable filings
- Governance controls: 8 of 8 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: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -0.6%; rating input score 24; 24th percentile among comparable filings
- Total-asset coverage ratio: 0.98; rating input score 38; 38th percentile among comparable filings
- Liabilities to assets ratio: 0.37; rating input score 48; 48th percentile among comparable filings
- Officer compensation ratio: 2%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: 4% per year; rating input score 100; 31st percentile among comparable filings
- Revenue growth: 3.9% per year; rating input score 100; 32nd percentile among comparable filings
- Asset growth: 4.4% per year; rating input score 100; 31st percentile among comparable filings
Details
- What they do: 1 operating location identified
- Where the money goes: 91.5% of revenue deployed · 90.3% of spending went to programs
- Governance: 10 of 12 board members independent · 8 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $832.4M in reported program spending
- Leadership: top reported pay $2.3M · 27 people listed · 5 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $24M reported
- Consistency: 36 of 36 current checks pass
- Schedules: 13 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 18 filed money-flow records
- Related organizations: 10 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 — Sustainability: Operating margin scored 24/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 48/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.