Housing & Shelter (L22) IRS Verified DX Registered 990 on File

COVENANT LIVING AT THE HOLMSTAD

EIN: 36-2835154 · BATAVIA, IL 60510-1269 · United States · FY 2024 Data

3 out of 5 42 / 100 Based on 2+ years of filings

Financial strength (30%) 53/100

Reliability (20%) 40/100

Effectiveness (25%) 73/100

Impact (25%) No data yet

Financial data: FY 2024 · Scored 9/13/2026

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CharityAI™ Score

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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

$20.8M

Total Revenue

$17.3M

Total Expenses

$-10,322,063

Net Assets

552

Employees

Revenue Sources

Expense Breakdown

Program Expense Ratio 64.2%

Fundraising Efficiency N/A

Operating Reserve -7.14x

Liability-to-Asset 113.8%

Revenue Diversification 90.7%

Executive Compensation $266K

Compared with Peers

FY 2024

Compared with 456 similar organizations (United States, Housing & Shelter, $10M–$100M in expenses), FY 2024.

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	64.2%	87.9%	P10P90	Bottom quarter
Admin expense ratio Management and general / total expenses · lower is better	34.6%	10.3%	P10P90	Bottom quarter
Fundraising expense ratio Fundraising expenses / total expenses · lower is better	1.2%	0.0%	P10P90	Below median
Operating reserve Months of expenses covered by net assets · higher is better	-7.1 mo	6.7 mo	P10P90	Bottom quarter
Liabilities to assets Total liabilities / total assets · lower is better	113.8%	61.2%	P10P90	Bottom quarter
Revenue concentration Share of revenue from the largest source · lower is better	90.7%	91.0%	P10P90	Above median
Revenue growth Year over year revenue growth	0.3%	9.8%	P10P90
Expense growth Year over year expense growth	-1.4%	7.9%	P10P90
Surplus margin Surplus as a share of revenue	16.6%	0.4%	P10P90

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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Organization Details

EIN: 36-2835154
State: IL
City: BATAVIA
ZIP: 60510-1269
Classification: L22
Category: Housing & Shelter
Rating: 3★
Coverage: A
Last Updated: Aug 2026
IRS Ruling Year: 1975
Foundation Code: 10
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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