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Covenant Health Investment Trust

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Health — General and Rehabilitative / Fund Raising and/or Fund Distribution (NTEE)

Donations to this organization are tax deductible.

Summary charts: organization finances over time

Revenue
−$4.63M (2023)

Expenses
$1.08M (2023)

Total Assets
$265M (2023)

Total Liabilities
$0 (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
-$4,632,096
Expenses
$1,079,411
Net Income
-$5,711,507
Net Assets
$265,170,840
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $4,984,948
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets -$9,617,044
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $265,170,840
Total Liabilities $0
Net Assets $265,170,840
Compensation
Key Employees and Officers Compensation Related Other
Stephen Grubbs (President & Ceo) $0 $803,102 $38,604
Lesley Adkinson E Ph D Rn (Director) $0 $0 $0
Mark W Anthoine Sr (Director) $0 $0 $0
Bruce Bonnell Md Mph (Director) $0 $0 $0
Aisha Barlatier Bonny (Director (End 6/2023)) $0 $0 $0
Robert A Clark (Director) $0 $0 $0
Kathy Connerton Jd Mba (Director) $0 $0 $0
Ralph Jenkins (Director) $0 $0 $0
Catherine P Lovecchio Ph D Rn (Director) $0 $0 $0
William P Lucy (Director (End 6/2023)) $0 $0 $0
Thomas Mortimer (Director) $0 $0 $0
Cherie Noe Md (Director) $0 $0 $0
Sr Catherine O'connor (Director) $0 $0 $0
Gino J Pazzaglini (Director) $0 $0 $0
Louise Trottier (Director) $0 $0 $0
John Oliverio (Chair) $0 $0 $0
Kenneth E Arnold (Vice Chair) $0 $0 $0
Stephen Forney (Svp And Chief Financial Officer) $0 $495,159 $38,300

Document Links

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
-$914,895
Expenses
$0
Net Income
-$914,895
Net Assets
$244,447,441
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $4,123,663
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets -$5,038,558
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $244,447,441
Total Liabilities $0
Net Assets $244,447,441
Compensation
Key Employees and Officers Compensation Related Other
Stephen Grubbs (President & Ceo) $0 $853,102 $37,161
Lesley Adkinson E Ph D Rn (Director) $0 $0 $0
Mark W Anthoine Sr (Director) $0 $0 $0
Bruce Bonnell Md Mph (Director) $0 $0 $0
Aisha Barlatier Bonny (Director) $0 $0 $0
Kathy Connerton Jd Mba (Director) $0 $0 $0
Catherine P Lovecchio Ph D Rn (Director) $0 $0 $0
William P Lucy (Director) $0 $0 $0
Thomas Mortimer (Director) $0 $0 $0
Cherie Noe Md (Director) $0 $0 $0
Sr Catherine O'connor (Director) $0 $0 $0
Gino J Pazzaglini (Director) $0 $0 $0
Louise Trottier (Director) $0 $0 $0
John Oliverio (Chair) $0 $0 $0
Kenneth E Arnold (Vice Chair) $0 $0 $0
Stephen Forney (Svp And Chief Financial Officer) $0 $512,632 $43,368

Document Links

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$68,215,808
Expenses
$0
Net Income
$68,215,808
Net Assets
$352,819,682
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $5,101,602
7.5%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $63,114,206
92.5%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $352,819,682
Total Liabilities $0
Net Assets $352,819,682
Compensation
Key Employees and Officers Compensation Related Other
Stephen Grubbs (President & Ceo) $0 $909,317 $36,190
Lesley Adkinson E Ph D Rn (Director) $0 $0 $0
Bruce Bonnell Md Mph (Director) $0 $0 $0
Aisha Barlatier Bonny (Director) $0 $0 $0
Kathy Connerton Jd Mba (Director) $0 $0 $0
John Isaacson (Director (End 6/2021)) $0 $0 $0
Thomas Kelly (Director (End 6/2021)) $0 $0 $0
James F Loftus Iv (Director (End 6/2021)) $0 $0 $0
Catherine P Lovecchio Ph D Rn (Director) $0 $0 $0
William P Lucy (Director) $0 $0 $0
Thomas Mortimer (Director) $0 $0 $0
Cherie Noe Md (Director) $0 $0 $0
Sr Catherine O'connor (Director) $0 $0 $0
Gino J Pazzaglini (Director) $0 $0 $0
Louise Trottier (Director) $0 $0 $0
John Oliverio (Chair) $0 $0 $0
Kenneth E Arnold (Vice Chair) $0 $0 $0
Mark W Anthoine Sr (Finance Committee Chair) $0 $0 $0
Stephen W Forney (Treasurer & Cfo) $0 $568,230 $39,353

Document Links

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$15,015,788
Expenses
$607,788
Net Income
$14,408,000
Net Assets
$327,463,635
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $5,631,920
37.5%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $9,383,868
62.5%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $327,463,635
Total Liabilities $0
Net Assets $327,463,635

No Document Links

The IRS has provided extracted financial data for this filing, but has not yet released the source documents.

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$20,875,840
Expenses
$694,840
Net Income
$20,181,000
Net Assets
$268,812,635
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $4,788,693
22.9%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $16,087,147
77.1%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $269,001,472
Total Liabilities $188,837
Net Assets $268,812,635
Compensation
Key Employees and Officers Compensation Related Other
Stephen Grubbs (Trustee) $0 $712,592 $31,007
Richard J Plamondon (Vice Chair) $0 $316,112 $26,141
Stephen W Forney (Treasurer) $0 $155,201 $7,108
William Adams (Trustee) $0 $0 $0
Paul Arenburg (Trustee) $0 $0 $0
Rosemarie Connolly (Trustee) $0 $0 $0
William Demaso (Trustee) $0 $0 $0
Kevin Halloran (Trustee) $0 $0 $0
Chris Klapinsky (Trustee) $0 $0 $0
Asher Watson (Trustee) $0 $0 $0
Donald M De Hart (Chair) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$9,895,750
Expenses
$772,064
Net Income
$9,123,686
Net Assets
$223,650,645
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $7,452,949
75.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $2,428,747
24.5%
Net Inventory Sales $0
Other Revenue $14,054
0.1%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $223,818,120
Total Liabilities $167,475
Net Assets $223,650,645
Compensation
Key Employees and Officers Compensation Related Other
John Ahle (Treasurer/Secretary To 9/2018) $0 $487,361 $19,516
Stephen Grubbs (Treasurer/Secretary From 9/2018) $0 $131,501 $6,711
Donald M Dehart (Chair/President) $0 $0 $0
Richard J Plamondon (Vice President) $0 $308,444 $25,066
William Adams (Trustee) $0 $0 $0
Kevin Halloran (Trustee) $0 $0 $0
William Demaso (Trustee) $0 $0 $0
Rosemarie Connolly (Trustee) $0 $0 $0
Paul Arenburg (Trustee) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$6,497,552
Expenses
$748,224
Net Income
$5,749,328
Net Assets
$295,890,724
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $5,774,294
88.9%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $712,680
11.0%
Net Inventory Sales $0
Other Revenue $10,578
0.2%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $296,055,490
Total Liabilities $164,766
Net Assets $295,890,724
Compensation
Key Employees and Officers Compensation Related Other
John Ahle (Treasurer/Secretary) $0 $380,055 $41,656
Donald M Dehart (Chair/President) $0 $0 $0
Richard J Plamondon (Vice President) $0 $358,610 $31,078
William Adams (Trustee) $0 $0 $0
Kevin Halloran (Trustee) $0 $0 $0
William Demaso (Trustee) $0 $0 $0
Rosemarie Connolly (Trustee) $0 $0 $0
Paul Arenburg (Trustee) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$5,538,253
Expenses
$700,464
Net Income
$4,837,789
Net Assets
$239,630,673
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $5,008,080
90.4%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $461,630
8.3%
Net Inventory Sales $0
Other Revenue $68,543
1.2%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $239,803,223
Total Liabilities $172,550
Net Assets $239,630,673
Compensation
Key Employees and Officers Compensation Related Other
John Ahle (Treasurer/Secretary) $0 $738,263 $36,019
Carolyn Kasabian (Trustee Thru 5/16) $0 $262,121 $12,428
Donald M Dehart (Chair/President) $0 $0 $0
Richard J Plamondon (Vice President) $0 $326,752 $32,428
William Adams (Trustee) $0 $0 $0
Kevin Halloran (Trustee) $0 $0 $0
William Demaso (Trustee) $0 $0 $0
Sr Catherine O'connor To 1216 (Trustee) $0 $0 $0
Rosemarie Connolly (Trustee) $0 $0 $0
Paul Arenburg (Trustee) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$10,343,213
Expenses
$838,319
Net Income
$9,504,894
Net Assets
$238,007,071
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $5,100,796
49.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $5,218,614
50.5%
Net Inventory Sales $0
Other Revenue $23,803
0.2%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $238,250,753
Total Liabilities $243,682
Net Assets $238,007,071
Compensation
Key Employees and Officers Compensation Related Other
John Ahle (Treasurer/Secretary) $0 $408,243 $105,644
Carolyn Kasabian (Trustee) $0 $274,848 $23,417
Donald M Dehart (Chair/President) $0 $0 $0
Richard J Plamondon (Vice President) $0 $322,529 $30,575
William Adams (Trustee) $0 $0 $0
Kevin Halloran (Trustee) $0 $0 $0
William Demaso (Trustee) $0 $0 $0
Sr Catherine O'connor (Trustee) $0 $0 $0
Rosemarie Connolly (Trustee) $0 $0 $0
Paul Arenburg (Trustee) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$13,388,378
Expenses
$870,581
Net Income
$12,517,797
Net Assets
$245,521,586
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $5,052,715
37.7%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $8,294,403
62.0%
Net Inventory Sales $0
Other Revenue $41,260
0.3%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $248,792,972
Total Liabilities $3,271,386
Net Assets $245,521,586
Compensation
Key Employees and Officers Compensation Related Other
John Ahle (Treasurer/Secretary) $0 $396,146 $102,749
Carolyn Kasabian (Trustee) $0 $265,360 $25,817
Donald M Dehart (Chair/President) $0 $0 $0
Richard J Plamondon (Vice President) $0 $318,003 $32,550
William Adams (Trustee) $0 $0 $0
Kevin Halloran (Trustee) $0 $0 $0
William Demaso (Trustee) $0 $0 $0
Sr Catherine O'connor (Trustee) $0 $0 $0
Rosemarie Connolly (Trustee) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$12,418,420
Expenses
$818,648
Net Income
$11,599,772
Net Assets
$229,981,037
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $4,294,575
34.6%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $8,112,064
65.3%
Net Inventory Sales $0
Other Revenue $11,781
0.1%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $232,932,602
Total Liabilities $2,951,565
Net Assets $229,981,037
Compensation
Key Employees and Officers Compensation Related Other
John Ahle (Treasurer/Secretary) $0 $382,416 $101,750
Carolyn Kasabian (Trustee) $0 $278,831 $23,871
Donald M Dehart (Chair/President) $0 $0 $0
Richard J Plamondon (Vice President) $0 $300,185 $31,339
William Adams (Trustee) $0 $0 $0
Paul Ercolini (Trustee) $0 $172,756 $32,705
Kevin Halloran (Trustee) $0 $0 $0
William Demaso (Trustee) $0 $0 $0
Sr Catherine O'connor (Trustee) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$9,501,273
Expenses
$851,295
Net Income
$8,649,978
Net Assets
$176,539,250
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $3,959,307
41.7%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $5,525,511
58.2%
Net Inventory Sales $0
Other Revenue $16,455
0.2%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $179,178,125
Total Liabilities $2,638,875
Net Assets $176,539,250

Document Links

Fiscal Year Ending Dec.
2011

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$6,917,669
Expenses
$793,693
Net Income
$6,123,976
Net Assets
$145,295,564
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $3,511,159
50.8%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $3,375,919
48.8%
Net Inventory Sales $0
Other Revenue $30,591
0.4%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $147,469,529
Total Liabilities $2,173,965
Net Assets $145,295,564

Document Links

Fiscal Year Ending Dec.
2010

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2009

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2008

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2007

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2006

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2005

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2004

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2003

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2002

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2001

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

About This Data

What Is This Data?

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

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For those interested in acquiring the original data from the source, here’s where our data comes from:

  • Raw filing data. Includes EINs and summary financials as structured data.
  • Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
  • Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
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  • Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

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