COVENANT HEALTH SYSTEM
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$113,759,127
Other
81%
Program Services
16%
Investments
3%
Contributions
0%
Government Grants
0%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$115,571,834
Salaries & Benefits
39%
Fees to Service Providers
21%
Offices, Occupancy & IT
13%
Other
11%
Depreciation
11%
Interest
3%
Advertising & Promotion
<1%
Grants
0%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$0
$0
-
Government Grants
$0
$0
-
Fundraising Events
$0
$0
-
Program Services
$21,356,564
$18,483,057
-13%
Membership Dues
$0
$0
-
Investments
$477,441
$3,354,403
+603%
Other
$79,872,785
$91,921,667
+15%
Total Revenues
$101,706,790
$113,759,127
+12%
Expenses
2023
2024
Change
Grants
$1,712,777
$0
-100%
Benefits to Members
$0
$0
-
Salaries & Benefits
$29,501,007
$45,319,756
+54%
Fees to Service Providers
$28,742,985
$24,587,861
-14%
Advertising & Promotion
$659,588
$893,537
+35%
Offices, Occupancy & IT
$14,110,184
$15,373,853
+9%
Interest
$6,881,347
$3,486,118
-49%
Depreciation
$7,380,801
$12,662,768
+72%
Other
$4,747,822
$13,247,941
+179%
Total Expenses
$93,736,511
$115,571,834
+23%
Net income
2023
2024
Change
Net income
+$7,970,279
-$1,812,707
-123%
Functional Expenses
Summary
2023
2024
Change
Program
$56,992,422
$70,008,385
+23%
Admin
$36,737,693
$45,559,417
+24%
Fundraising
$6,396
$4,032
-37%
Total Expenses
$93,736,511
$115,571,834
+23%
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