Health Care (E112) IRS Verified DX Registered 990 on File

COVENANT HEALTHCARE FOUNDTION

EIN: 38-2572154 · SAGINAW, MI 48602-4727 · United States · FY 2023 Data

3 out of 5 44 / 100 Based on 2+ years of filings

Financial strength (30%) 70/100

Reliability (20%) 55/100

Effectiveness (25%) 48/100

Impact (25%) No data yet

Financial data: FY 2023 · Scored 9/13/2026

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Mission Statement

The Covenant HealthCare Foundation is established to support the Covenant Medical center by accepting gifts and providing stewardship of charitable funds received from the Covenant HealthCare constituency. That is, to improve the quality of life for the patient population in the East Central region of Michigan. Covenant HealthCare is proud to be a resource within the health care community and the community-at-large that adheres to standards of excellence in providing patient care, technology, and education.

Financial Overview — FY 2023

$3.2M

Total Revenue

$962K

Total Expenses

$25.2M

Net Assets

Employees

Revenue Sources

Expense Breakdown

Program Expense Ratio 46.7%

Fundraising Efficiency 0.0%

Operating Reserve 313.97x

Liability-to-Asset 0.4%

Revenue Diversification 64.6%

Compared with Peers

FY 2023

Compared with 6,410 similar organizations (United States, Health Care, $100K–$1M in expenses), FY 2023.

This organization Middle half of peers (P25–P75) Peer median

Ratio	This org	Peer median	Position (P10 → P90)
Program expense ratio Program expenses / total expenses · higher is better	46.7%	84.9%	P10P90	Bottom quarter
Admin expense ratio Management and general / total expenses · lower is better	53.3%	11.3%	P10P90	Bottom quarter
Fundraising expense ratio Fundraising expenses / total expenses · lower is better	0.0%	0.0%	P10P90	Top quarter
Fundraising efficiency Fundraising expenses / gross fundraising income · lower is better	0.0%	14.4%	P10P90	Top quarter
Operating reserve Months of expenses covered by net assets · higher is better	314.0 mo	13.8 mo	P10P90	Top quarter
Liabilities to assets Total liabilities / total assets · lower is better	0.4%	1.4%	P10P90	Above median
Revenue concentration Share of revenue from the largest source · lower is better	64.6%	94.7%	P10P90	Top quarter
Revenue growth Year over year revenue growth	9.5%	6.4%	P10P90
Expense growth Year over year expense growth	-80.2%	10.8%	P10P90
Surplus margin Surplus as a share of revenue	70.1%	3.3%	P10P90

Financial History

Year	Revenue	Expenses	Net Assets	Program %
2023	$3.2M	$962K	$25.2M	46.7%
2022	$2.9M	$4.9M	$25.3M	86.8%
2021	$3.7M	$1.8M	N/A	—

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Organization Details

EIN: 38-2572154
State: MI
City: SAGINAW
ZIP: 48602-4727
Classification: E112
Category: Health Care
Rating: 3★
Coverage: A
Last Updated: Aug 2026
IRS Ruling Year: 1998
Foundation Code: 17
Form 990: On File

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CharityAI™ rates charities from 0 to 100 using public filings (IRS Form 990 and the equivalent registries outside the US) together with the information the charity itself provides on DonationX. Ratings are recalculated every quarter, without human bias, and shown as stars.

Four pillars

Financial strength30%

Program expense ratio, fundraising efficiency, operating reserves, liabilities and revenue diversification, compared with similar organizations.

Reliability20%

Standing with the registry, filing history, verification and how complete the profile is.

Effectiveness25%

How much goes to programs and how consistently the organization delivers them.

Impact25%

The outcomes the charity reports on DonationX: people served, cost per service and results.

Stars

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