COVENANT LIVING AT THE HOLMSTAD
Mission Statement
As a ministry of the Evangelical Covenant Church, Covenant Retirement Communities celebrates God's gift of life in Christian community. We follow the Great Commandment to love and serve God and one another as taught by Jesus Christ. That compels us to affirm the dignity of each person and to pursue excellence and financial integrity in all that we do. As we provide a broad range of resources, services and programs to enhance individual and community wellness, we collaborate with residents and families to achieve the best possible results. While seeking to foster independence, we respond to each individual's evolving needs in order to provide the security that assures peace of mind.
Financial Overview — FY 2024
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2024 | $20.8M | $17.3M | $-10,322,063 | 64.2% | 552 |
| 2023 | $20.7M | $17.6M | $-15,138,605 | 62.4% | 434 |
| 2022 | $18.4M | $17.3M | $-18,992,732 | 65.7% | 465 |
| 2021 | $18.3M | $17.6M | N/A | — | 526 |
| 2020 | $16.6M | $16.7M | N/A | — | 523 |
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