Covenant Health Inc
88% goes to programs $0 to raise $100 Strong reserves
Covenant Health Inc is a 501(c)(3) organization based in Andover, Massachusetts, registered in 1946, with $77,518,193 in FY2024 revenue. CharityIndex grades it A, and it directs about 88% of spending to programs.
40 Shattuck Rd Ste 317, Andover, MA, 01810 EIN 22-2484505 Since 1946
Revenue (FY2024)
$77.5M
▼ 1.2% vs prior year
Health median: $840K
Expenses (FY2024)
$76.7M
Net assets
$142.8M
Employees
163
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
AProgram efficiency40% of the rating88% to programs · $0 to raise $100
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. For Covenant Health Inc: 88% to programs · $0 to raise $100 earns a A on this criterion. See the exact thresholds →
AFinancial health25% of the rating22 mo reserves · +1% 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 Covenant Health Inc: 22 mo reserves · +1% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
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. For Covenant Health Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 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 Covenant Health Inc: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
Covenant health is a catholic health care system sponsoring hospitals, nursing homes, assisted living residences, and other health and elder services throughout new england. the organization is committed to the health of the individuals and communities it serves, and the organization strives to offer a continuum of high quality care. please see the organization's website for the 2020 covenant health corporate report.
Contact & location
- Address
- 40 Shattuck Rd Ste 317, Andover, MA, 01810
- City
- Andover
- State
- Massachusetts
- Category
- Health Care
- Subcategory
- Clinics & Primary Care
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $14.5M (FY2013) to $77.5M (FY2024) across 11 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $238.6MNet assets $142.8M
Operating margin
1.0%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$381.5M
Total liabilities
$238.6M
Net assets
$142.8M
Salaries & benefits
$25.6M
33% of expenses
Board members
13
12 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $77,518,193▼1.2% | $76,713,106▲3.4% | $142,848,467▲32.7% | $381,488,892▲4.8% | 990 |
| 2023 | $78,489,788▼3.0% | $74,210,597▼6.6% | $107,675,200▲2.4% | $364,146,367▲4.6% | 990 |
| 2022 | $80,912,625▲10.0% | $79,496,874▲9.8% | $105,166,380▲2.1% | $348,125,512▲2.5% | 990 |
| 2021 | $73,583,328▲10.3% | $72,373,910▲5.2% | $102,975,449▲7.9% | $339,773,281▲92.5% | 990 |
| 2020 | $66,693,555▼9.2% | $68,789,200▼4.4% | $95,449,756▼12.3% | $176,504,110▼10.3% | 990 |
| 2019 | $73,480,164▲0.3% | $71,923,258▼1.3% | $108,891,276▲5.0% | $196,795,806▲0.7% | 990 |
| 2018 | $73,273,956▲362% | $72,847,912▲315% | $103,663,870▼0.9% | $195,385,071▲0.6% | 990 |
| 2017 | $15,846,739▼17.2% | $17,541,653▼33.6% | $104,600,348▲6.8% | $194,302,586▲59.3% | 990 |
| 2016 | $19,128,280▲46.3% | $26,436,885▲119% | $97,965,953▼0.9% | $121,989,606▼0.5% | 990 |
| 2015 | $13,076,288▼9.9% | $12,055,454▲18.6% | $98,819,957▲50.5% | $122,591,281▲36.9% | 990 |
| 2013 | $14,506,842 | $10,168,404▼4.0% | $65,660,778▲12.5% | $89,530,111▲9.6% | 990 |
| 2012 | — | $10,594,288▲19.4% | $58,364,801▲44.7% | $81,724,378▼14.2% | 990 |
| 2011 | — | $8,872,684▼47.4% | $40,345,958▲19.0% | $95,239,972▼7.2% | 990 |
| 2010 | — | $16,881,573 | $33,890,568 | $102,678,972 | 990 |
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.
Leadership & compensation (FY2024)
Highest-paid: Stephen Grubbs — $1,235,937 (1.61% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Stephen Grubbs | President & Ceo | 40 | $1,235,937 |
| Stephen Forney | Svp and Chief Financial Officer | 40 | $817,738 |
| John Newman | Svp General Counsel | 40 | $814,976 |
| Douglas Waite | Svp and Chief Medical Officer | 40 | $636,913 |
| Mary Prybylo | Svp & President Sjh Bangor | 0 | $536,374 |
| John Jurczyk | Svp & President Sjh Nashua | 0 | $476,176 |
| John Emerson | Svp Integrated Medical Group | 40 | $430,394 |
| Ivan Ip | System Vp & Chief Med Info Officer | 40 | $371,996 |
| James Coffey | Ch Svp; President, Ch Foundation | 1 | $301,088 |
| Eric Hardy | Svp & President Pac Finance | 40 | $297,084 |
| Anup Myneni | Deputy General Counsel | 0 | $290,377 |
| Paige Hagerstorm | System Assistant Vp Employee Experience | 0 | $290,016 |
| Bruce Bonnell Md Mph | Director | 2 | — |
| Catherine P Lovecchio Phd Rn | Director | 2 | — |
| Cherie Noe Md | Director (end 2/2024) | 2 | — |
| Gino J Pazzaglini | Director | 2 | — |
| John Oliverio | Chair | 2 | — |
| Kathy Connerton Jd Mba | Treasurer | 2 | — |
| Kenneth E Arnold | Vice Chair (end 6/2024) | 2 | — |
| Lesley Adkinson E Phd Rn | Director | 2 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Ensemble Rcm LLC | Management and Consulting Services | $45,084,383 |
| Premier Healthcare Solutions | Healthcare Analytics and Consulting | $11,507,129 |
| Good Help Connections LLC | Telecommunications and It Solutions | $10,135,838 |
| Microsoft | It Service and Support | $3,015,780 |
| 3m Health Information Systems | It Service and Support | $1,009,072 |
Grants made · $20K in FY2024
2 grants totaling $20K in FY2024. All grants made by Covenant Health Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| Mi Nursing-restorative Center Inc | Funding for medical supplies and professional education. | $10,000 |
| St Andre Health Care Facility | Funding for medical supplies and professional education. | $10,000 |
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Frequently asked questions
- Is Covenant Health Inc a legitimate nonprofit?
- Yes. Covenant Health Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 22-2484505, based in Andover, Massachusetts. Donations are tax-deductible.
- What is Covenant Health Inc's EIN?
- Covenant Health Inc's Employer Identification Number (EIN) is 22-2484505.
- How much revenue does Covenant Health Inc report?
- Covenant Health Inc reported $77,518,193 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Covenant Health Inc's spending goes to programs?
- Covenant Health Inc spends about 88% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Covenant Health Inc have?
- CharityIndex grades Covenant Health Inc A, based on program efficiency and fundraising cost.
- How much does Covenant Health Inc's highest-paid employee make?
- The highest reported compensation on Covenant Health Inc's latest Form 990 is $1,235,937, paid to Stephen Grubbs (President & Ceo).
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Data for Covenant Health Inc (EIN 22-2484505) 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.