Covenant House

Summary

Covenant House is the largest privately-funded childcare agency in the United States providing shelter and service to homeless and runaway youth. It was incorporated in New York City in 1972 and has since expanded in the United States to Anchorage, Atlanta, Atlantic City, Detroit, Fort Lauderdale, Houston, Los Angeles, Newark, New Orleans, Oakland, Orlando, Philadelphia, St. Louis, Washington, D. C., and, outside the United States, to Toronto, Vancouver, Guatemala, Honduras, Mexico and Nicaragua.

This organization is a nonprofit. Contributions to it are fully tax deductible to the extent allowed by law.


Contact information

Mailing address:
5 Penn Plaza 3rd Floor
New York, NY 10001-0001

Website: www.covenanthouse.org

Phone: (212) 727-4155

Email: SisterMaryRose@CovenantHouse.org


Organization details

EIN: 132725416

CEO/President: Sister Patricia A. Cruise, D.C.

Chairman: Mr. Brian D. McAuley

Board size: 18

Founder:

Year founded: 1968

Tax deductible: Yes

Fiscal year end: 06/30

Member of ECFA: No

Member of ECFA since:


Purpose

We've been opening our doors to homeless kids since 1972 - now standing as a powerful human rights movement for vulnerable youth in 31 cities across six countries. In addition to food, shelter, clothing and crisis care, Covenant House provides a variety of services to homeless youth including health care, education, vocational preparation, drug abuse treatment and prevention programs, legal services, recreation, mother/child programs, transitional living programs, street outreach and aftercare. Covenant House provides residential and non-residential services to youth. Our comprehensive program model builds a life-affirming bridge for young people by engaging youth on the street (Street Outreach) providing no-barrier, safe, short-term housing to meet their immediate needs (Immediate Care), and longer-term transitional housing (Rights of Passage) to assist those who are ready for more independent living.


Mission statement

"We who recognize God's providence and fidelity to His people are dedicated to living out His covenant among ourselves and those children we serve, with absolute respect and unconditional love. That commitment calls us to serve suffering children of the street, and to protect and safeguard all children. Just as Christ in His humanity is the visible sign of God's presence among His people, so our efforts together in the covenant community are a visible sign that effects the presence of God, working through the Holy Spirit among ourselves and our kids."


Statement of faith

Financial efficiency ratings

Sector: Relief and Development

CategoryRatingOverall rankSector rank
Overall efficiency rating387 of 42957 of 61
Fund acquisition rating350 of 42951 of 61
Resource allocation rating286 of 42950 of 61
Asset utilization rating364 of 42952 of 61

Financial ratios

Funding ratiosMedian % for
all ministries in
MW database
20182017201620152014
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
7%13%13%15%15%16%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
6%12%12%14%14%14%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
95%92%91%94%92%90%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
6%13%12%13%13%14%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
5%8%9%6%8%10%
 
Operating ratiosMedian % for
all ministries in
MW database
20182017201620152014
Program expense ratio Program expense ratio =
Program services /
Total expenses
82%78%77%76%76%73%
Spending ratio Spending ratio =
Total expenses /
Total revenue
98%92%96%105%104%100%
Program output ratio Program output ratio =
Program services /
Total revenue
81%72%74%80%80%73%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
2%8%4%-5%-4%0%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
3%8%5%-5%-4%0%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
11%9%11%11%10%13%
 
Investing ratiosMedian measure
for all ministries
in MW database
20182017201620152014
Total asset turnover Total asset turnover =
Total expenses /
Total assets
1.280.650.670.680.660.62
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
1.532.972.612.842.922.95
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
2.511.931.741.941.921.84
 
Liquidity ratiosMedian measure
for all ministries
in MW database
20182017201620152014
Current ratio Current ratio =
Total current assets /
Total current liabilities
9.023.744.073.423.714.10
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.110.270.250.290.270.24
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
4.094.565.214.374.564.94
 
Solvency ratiosMedian % for
all ministries in
MW database
20182017201620152014
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
9%26%33%35%29%25%
Debt ratio Debt ratio =
Debt /
Total assets
0%1%0%0%0%12%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
64%114%100%95%107%120%

Financials

Balance sheet
 
Assets20182017201620152014
Cash$24,189,208$19,911,555$22,227,916$21,607,888$23,921,877
Receivables, inventories, prepaids$13,864,074$13,515,210$12,481,882$11,166,286$8,284,543
Short-term investments$56,603,933$65,399,992$52,239,069$50,964,914$50,186,846
Other current assets$0$0$0$0$3,319,206
Total current assets$94,657,215$98,826,757$86,948,867$83,739,088$85,712,472
Long-term investments$17,455,756$0$2,743,841$3,952,076$3,410,082
Fixed assets$134,011,675$127,540,199$127,211,837$130,307,844$137,481,064
Other long-term assets$34,953,653$31,465,523$29,857,288$26,847,599$26,440,388
Total long-term assets$186,421,084$159,005,722$159,812,966$161,107,519$167,331,534
Total assets$281,078,299$257,832,479$246,761,833$244,846,607$253,044,006
 
Liabilities20182017201620152014
Payables and accrued expenses$15,359,903$14,657,891$15,400,615$13,205,108$11,449,693
Other current liabilities$9,917,217$9,612,347$10,043,274$9,370,737$9,469,670
Total current liabilities$25,277,120$24,270,238$25,443,889$22,575,845$20,919,363
Debt$2,650,538$0$0$0$31,094,767
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$45,587,318$61,084,841$60,941,364$49,327,193$12,264,581
Total long-term liabilities$48,237,856$61,084,841$60,941,364$49,327,193$43,359,348
Total liabilities$73,514,976$85,355,079$86,385,253$71,903,038$64,278,711
 
Net assets20182017201620152014
Unrestricted$155,310,708$131,721,515$132,015,578$154,180,409$171,162,132
Temporarily restricted$43,016,791$31,426,846$19,230,810$11,654,964$10,508,473
Permanently restricted$9,235,824$9,329,039$9,130,192$7,108,196$7,094,690
Net assets$207,563,323$172,477,400$160,376,580$172,943,569$188,765,295
 
Revenues and expenses
 
Revenue20182017201620152014
Total contributions$183,408,062$163,251,984$150,745,250$142,238,323$141,535,777
Program service revenue$3,356,970$0$0$0$0
Membership dues$0$0$0$0$0
Investment income$3,446,729$4,696,911$723,159$722,813$5,080,582
Other revenue$8,645,053$11,598,082$9,497,692$11,564,976$11,366,321
Total other revenue$15,448,752$16,294,993$10,220,851$12,287,789$16,446,903
Total revenue$198,856,814$179,546,977$160,966,101$154,526,112$157,982,680
 
Expenses20182017201620152014
Program services$142,627,228$132,103,247$128,539,798$122,943,424$114,771,014
Management and general$17,049,931$18,602,492$18,058,847$16,367,904$20,297,906
Fundraising$22,948,053$21,054,075$22,409,914$21,573,268$22,332,907
Total expenses$182,625,212$171,759,814$169,008,559$160,884,596$157,401,827
 
Change in net assets20182017201620152014
Surplus (deficit)$16,231,602$7,787,163($8,042,458)($6,358,484)$580,853
Other changes in net assets$18,854,321$4,313,657($6,799,508)($9,463,242)($2,072,749)
Total change in net assets$35,085,923$12,100,820($14,841,966)($15,821,726)($1,491,896)

Response from ministry

No response has been provided by this ministry.


History


Program accomplishments

Covenant House has reached over a million boys and girls since opening, averaging around 74,000 youth each year.


Needs