Covenant Health
1420 Centerpoint Blvd Bldg C, Knoxville, TN · IRS data through FY2024
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2024 | $235,666,950 | $203,004,800 | $887,405,464 |
| FY2023 | $207,141,823 | $191,450,181 | $690,842,387 |
| FY2022 | $220,269,899 | $180,206,350 | $588,011,596 |
| FY2021 | $188,217,463 | $163,022,804 | $918,442,485 |
| FY2020 | $186,599,540 | $160,638,163 | $721,833,216 |
| FY2019 | $259,416,121 | $153,436,488 | $633,092,774 |
| FY2018 | $193,250,266 | $166,435,527 | $501,812,947 |
| FY2017 | $184,539,673 | $129,063,137 | $672,587,046 |
| FY2016 | $127,567,527 | $127,392,929 | $522,398,598 |
| FY2015 | $134,207,604 | $112,630,072 | $358,233,802 |
| FY2014 | $145,249,747 | $111,872,633 | $370,495,787 |
| FY2013 | $119,049,882 | $105,539,371 | $368,361,438 |
| FY2012 | $122,016,773 | $102,116,391 | $316,632,104 |
| FY2011 | $133,439,051 | $98,714,468 | $294,226,405 |
Form 990 filings
The returns filed by Covenant Health (EIN 62-1646734), 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 | $300,000 | <1% |
| Program service revenue | $172,183,053 | 73% |
| Other revenue | $63,183,897 | 27% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $178,069,437 | 88% |
| Management & general | $24,385,773 | 12% |
| Fundraising | $549,590 | <1% |
What the numbers show
- Program service revenue made up 73% 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 49.4% of 77 Health Care organizations in TN.
- Net assets covered about 52.5 months of expenses at the end of the reporting year. That puts it in the 82nd percentile among 357 Health Care organizations in TN.
- Total revenue was higher than 95.9% of 365 Health Care organizations in TN.
- Total revenue rose from $133,439,051 in FY2011 to $235,666,950 in FY2024. Revenue increased in 7 and decreased in 6 of 13 year-over-year comparisons.
- Revenue covered expenses in each of the 14 reported years, FY2011 to FY2024.
- The highest revenue on record here is $259,416,121 in FY2019.
- Net assets grew from $294,226,405 to $887,405,464 between FY2011 and FY2024.
- Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (supporting organization, type unspecified).
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 the parent organization in a community-owned health care system in East Tenn.
IRS status
| Ruling year | 1996 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | E210 — Health Care (in TN) |
| Donations | Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (supporting organization, type unspecified). |
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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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