Covenant Woods
7090 Covenant Woods Dr, Mechanicsville, VA · IRS data through FY2025
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2025 | $38,798,410 | $39,151,734 | $2,577,596 |
| FY2024 | $39,083,157 | $46,360,111 | $2,404,560 |
| FY2023 | $36,760,268 | $43,566,569 | $5,929,082 |
| FY2022 | $38,635,107 | $42,541,914 | $21,582,957 |
| FY2021 | $38,290,198 | $39,506,115 | $28,418,866 |
| FY2020 | $30,881,699 | $33,554,325 | $19,788,908 |
| FY2019 | $26,886,991 | $28,456,276 | $27,495,721 |
| FY2018 | $27,599,792 | $25,422,737 | $34,910,518 |
| FY2017 | $25,156,020 | $23,888,295 | $32,296,727 |
| FY2016 | $21,726,383 | $23,030,008 | $27,526,615 |
| FY2015 | $21,143,071 | $19,740,533 | $29,999,436 |
| FY2014 | $16,180,680 | $16,230,110 | $31,793,087 |
| FY2013 | $13,571,865 | $14,499,697 | $30,297,228 |
| FY2012 | $13,227,270 | $13,005,322 | $29,042,595 |
Form 990 filings
The returns filed by Covenant Woods (EIN 54-0524902), 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 | $197,015 | 1% |
| Program service revenue | $35,575,110 | 92% |
| Other revenue | $3,026,285 | 8% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $29,595,763 | 76% |
| Management & general | $9,386,388 | 24% |
| Fundraising | $169,583 | <1% |
What the numbers show
- Program service revenue made up 92% of total revenue in FY2025.
- Program services accounted for 76% of functional expenses, management & general 24%, and fundraising 0%.
- 76% of functional expenses went to program services in FY2025. That is higher than 17.6% of 91 Health Care organizations in VA.
- Net assets covered about 0.8 months of expenses at the end of the reporting year. That puts it in the 9th percentile among 538 Health Care organizations in VA.
- Total revenue was higher than 90.8% of 552 Health Care organizations in VA.
- Total revenue rose from $13,227,270 in FY2012 to $38,798,410 in FY2025. Revenue increased in 10 and decreased in 3 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 10 of 14 reported years (FY2013, FY2014, FY2016, FY2019, FY2020, FY2021, FY2022, FY2023, FY2024, FY2025).
- The highest revenue on record here is $39,083,157 in FY2024.
- Net assets declined from $29,042,595 to $2,577,596 between FY2012 and FY2025.
- Contributions and grants made up 14% of revenue in FY2012 and 1% in FY2025.
- Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity).
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
NOT-FOR-PROFIT CONTINUING CARE RETIREMENT COMMUNITY.
IRS status
| Ruling year | 1942 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | E91 — Health Care (in VA) |
| Donations | Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity). |
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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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