Covenant Health Inc
40 Shattuck Rd Ste 317, Andover, MA · IRS data through FY2024
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2024 | $77,518,193 | $76,713,106 | $142,848,467 |
| FY2023 | $78,489,788 | $74,210,597 | $107,675,200 |
| FY2022 | $80,912,625 | $79,496,874 | $105,166,380 |
| FY2021 | $73,583,328 | $72,373,910 | $102,975,449 |
| FY2020 | $66,693,555 | $68,789,200 | $95,449,756 |
| FY2019 | $73,480,164 | $71,923,258 | $108,891,276 |
| FY2018 | $73,273,956 | $72,847,912 | $103,663,870 |
| FY2017 | $15,846,739 | $17,541,653 | $104,600,348 |
| FY2016 | $19,128,280 | $26,436,885 | $97,965,953 |
| FY2015 | $13,076,288 | $12,055,454 | $98,819,957 |
| FY2014 | $12,946,648 | $11,234,477 | $73,974,809 |
| FY2013 | $14,506,842 | $10,168,404 | $65,660,778 |
| FY2012 | $12,035,289 | $10,594,288 | $58,364,801 |
| FY2011 | $9,180,005 | $8,872,684 | $40,345,958 |
Form 990 filings
The returns filed by Covenant Health Inc (EIN 22-2484505), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $50,653 | <1% |
| Program service revenue | $77,358,227 | 100% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $67,505,276 | 88% |
| Management & general | $9,207,830 | 12% |
| Fundraising | $0 | 0% |
What the numbers show
- Program service revenue made up 100% of total revenue in FY2024.
- Program services accounted for 88% of functional expenses, management & general 12%, and fundraising 0%.
- 88% of functional expenses went to program services in FY2024. That is higher than 54.5% of 176 Health Care organizations in MA.
- Net assets covered about 22.3 months of expenses at the end of the reporting year. That puts it in the 69th percentile among 620 Health Care organizations in MA.
- Total revenue was higher than 88.2% of 651 Health Care organizations in MA.
- Total revenue rose from $9,180,005 in FY2011 to $77,518,193 in FY2024. Revenue increased in 8 and decreased in 5 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 3 of 14 reported years (FY2016, FY2017, FY2020).
- The highest revenue on record here is $80,912,625 in FY2022.
- Net assets grew from $40,345,958 to $142,848,467 between FY2011 and FY2024.
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
Covenant Health is a Catholic health care system sponsoring hospitals, nursing homes, assisted living residences, and other health and elder services throughout New England.
IRS status
| Ruling year | 1946 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | E30B — Health Care (in MA) |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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