Albert M Covelli Foundation
501(c)(3) Donations tax-deductible
Only null% goes to programs Strong reserves Growing revenue
Albert M Covelli Foundation is a 501(c)(3) organization based in Warren, Ohio, registered in 1984, with $1,724,831 in FY2024 revenue. CharityIndex grades it B.
3900 E Market St, Warren, OH, 44484 EIN 34-1383117 Since 1984
Revenue (FY2024)
$1.7M
▲ 326.3% vs prior year
Expenses (FY2024)
$450K
Net assets
$7.7M
Employees
—
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Albert M Covelli Foundation— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
B+Financial health25% of the rating205 mo reserves · +74% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Albert M Covelli Foundation: 205 mo reserves · +74% margin earns a B+ on this criterion. See the exact thresholds →
—Governance25% of the ratingNot reported in this filing type
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. Not scored for Albert M Covelli Foundation— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
CTransparency10% of the rating2 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Albert M Covelli Foundation: 2 of 5 disclosure signals earns a C on this criterion. See the exact thresholds →
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Contact & location
Financial trends
Revenue grew from $325K (FY2013) to $1.7M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $0Net assets $7.7M
Operating margin
73.9%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$7.7M
Total liabilities
$0
Net assets
$7.7M
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $1,724,831▲326% | $449,699▼3.4% | $7,692,605▲19.6% | $7,692,605▲19.6% | 990PF |
| 2023 | $404,566▲64.6% | $465,416▼9.0% | $6,429,810▼1.0% | $6,429,810▼1.0% | 990PF |
| 2022 | $245,727▼59.6% | $511,425▲26.2% | $6,494,516▼3.9% | $6,494,516▼3.9% | 990PF |
| 2021 | $608,127▲76.1% | $405,175▼14.8% | $6,759,932▲3.1% | $6,759,932▲3.1% | 990PF |
| 2020 | $345,317▼18.9% | $475,378▲26.2% | $6,558,914▼2.0% | $6,558,914▼2.0% | 990PF |
| 2019 | $425,661▼15.8% | $376,744▼15.4% | $6,690,272▲0.5% | $6,690,272▲0.5% | 990PF |
| 2018 | $505,778▼67.2% | $445,370▲19.1% | $6,656,604▲0.6% | $6,656,604▲0.6% | 990PF |
| 2017 | $1,541,123▲370% | $373,952▼12.1% | $6,619,275▲21.0% | $6,619,275▲21.0% | 990PF |
| 2016 | $328,211▼79.5% | $425,287▲4.3% | $5,471,237▼1.4% | $5,471,237▼1.4% | 990PF |
| 2015 | $1,598,991▼36.9% | $407,774▲38.7% | $5,548,382▲4.0% | $5,548,382▲4.0% | 990PF |
| 2014 | $2,534,196▲680% | $293,915▲10.8% | $5,337,532▲72.6% | $5,337,532▲72.6% | 990PF |
| 2013 | $325,024 | $265,370▲18.4% | $3,092,356▲2.0% | $3,092,356▲2.0% | 990PF |
| 2012 | — | $224,165▲52.7% | $3,032,702▼0.7% | $3,032,702▼0.7% | 990PF |
| 2011 | — | $146,808▲6.5% | $3,053,571▼0.5% | $3,053,571▼0.5% | 990PF |
| 2010 | — | $137,911 | $3,069,480 | $3,069,480 | 990PF |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Frequently asked questions
- Is Albert M Covelli Foundation a legitimate nonprofit?
- Yes. Albert M Covelli Foundation is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 34-1383117, based in Warren, Ohio. Donations are tax-deductible.
- What is Albert M Covelli Foundation's EIN?
- Albert M Covelli Foundation's Employer Identification Number (EIN) is 34-1383117.
- How much revenue does Albert M Covelli Foundation report?
- Albert M Covelli Foundation reported $1,724,831 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Albert M Covelli Foundation have?
- CharityIndex grades Albert M Covelli Foundation B, based on financial health (reserves and operating margin).
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Explore more
Data for Albert M Covelli Foundation (EIN 34-1383117) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.