Covenant Health
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$235,666,950
Program Services
73%
Investments
25%
Other
2%
Contributions
0%
Government Grants
0%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$203,004,800
Salaries & Benefits
56%
Offices, Occupancy & IT
16%
Interest
13%
Fees to Service Providers
8%
Other
5%
Advertising & Promotion
3%
Depreciation
<1%
Grants
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$360,000
$0
-100%
Government Grants
$258,272
$0
-100%
Fundraising Events
$0
$0
-
Program Services
$156,638,883
$172,183,053
+10%
Membership Dues
$0
$0
-
Investments
$50,664,297
$59,533,755
+18%
Other
-$779,629
$3,950,142
-607%
Total Revenues
$207,141,823
$235,666,950
+14%
Expenses
2023
2024
Change
Grants
$437,010
$377,488
-14%
Benefits to Members
$0
$0
-
Salaries & Benefits
$101,892,364
$112,878,925
+11%
Fees to Service Providers
$16,932,502
$15,512,089
-8%
Advertising & Promotion
$3,909,349
$6,388,092
+63%
Offices, Occupancy & IT
$31,424,688
$32,515,545
+3%
Interest
$26,669,460
$25,483,913
-4%
Depreciation
$432,743
$502,903
+16%
Other
$9,752,065
$9,345,845
-4%
Total Expenses
$191,450,181
$203,004,800
+6%
Net income
2023
2024
Change
Net income
+$15,691,642
+$32,662,150
+108%
Functional Expenses
Summary
2023
2024
Change
Program
$170,755,998
$178,069,437
+4%
Admin
$20,258,252
$24,385,773
+20%
Fundraising
$435,932
$549,590
+26%
Total Expenses
$191,450,181
$203,004,800
+6%
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