Civic Intelligence

Covenant Foundation

990 • Fiscal year 2022 • EIN 36-3722029

Jan 01, 2022 to Dec 31, 2022 • Filed on May 15, 2023

45 Rockefeller Plaza Ste 2300New York, NY 10111-2399

(212) 245-3500

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

68th percentile

0.49x

Higher debt load relative to assets than 68% of similar nonprofits.

2022 filings • NTEE B • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

75th percentile

0.64x

Higher debt load relative to revenue than 75% of similar nonprofits.

2022 filings • NTEE B • $5M-$10M nonprofits • Source year 2022

Net Margin

47th percentile

5.6%

Higher net margin than 47% of similar nonprofits.

2022 filings • NTEE B • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

82nd percentile

$240,846

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 3.8% of source-year revenue.

2022 filings • NTEE B • $5M-$10M nonprofits • Source year 2022

Asset Growth

93rd percentile

114%

Faster asset growth than 93% of similar nonprofits.

2022 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

57th percentile

13%

Faster revenue growth than 57% of similar nonprofits.

2022 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2021 to 2022

Assets

Up

$8,238,129

Up $4,386,981 (+114%) from 2021

Net Assets

Up

$4,192,687

Up $3,636,151 (+653%) from 2021

Liabilities

Up

$4,045,442

Up $750,830 (+23%) from 2021

Revenue

Up

$6,350,177

Up $716,025 (+13%) from 2021

Expenses

Up

$5,993,869

Up $692,856 (+13%) from 2021

Net Income

Up

$356,308

Up $23,169 (+7.0%) from 2021

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$10M$5.0M$0Assets 2010: $2,668,225Liabilities 2010: $2,642,482Net Assets 2010: $25,7432010Assets 2011: $2,435,611Liabilities 2011: $2,408,808Net Assets 2011: $26,8032011Assets 2012: $2,662,666Liabilities 2012: $2,633,250Net Assets 2012: $29,4162012Assets 2013: $2,598,617Liabilities 2013: $2,566,321Net Assets 2013: $32,2962013Assets 2014: $2,925,188Liabilities 2014: $2,891,321Net Assets 2014: $33,8672014Assets 2015: $3,213,210Liabilities 2015: $3,176,867Net Assets 2015: $36,3432015Assets 2016: $2,945,211Liabilities 2016: $2,906,216Net Assets 2016: $38,9952016Assets 2017: $3,390,049Liabilities 2017: $3,172,408Net Assets 2017: $217,6412017Assets 2018: $3,066,888Liabilities 2018: $2,858,852Net Assets 2018: $208,0362018Assets 2019: $3,003,209Liabilities 2019: $2,953,781Net Assets 2019: $49,4282019Assets 2020: $3,119,744Liabilities 2020: $2,896,347Net Assets 2020: $223,3972020Assets 2021: $3,851,148Liabilities 2021: $3,294,612Net Assets 2021: $556,5362021Assets 2022: $8,238,129Liabilities 2022: $4,045,442Net Assets 2022: $4,192,6872022Assets 2023: $7,274,348Liabilities 2023: $3,559,958Net Assets 2023: $3,714,3902023Assets 2024: $6,693,726Liabilities 2024: $3,458,526Net Assets 2024: $3,235,2002024

Highlighted filing

2022

Assets$8,238,129
Liabilities$4,045,442
Net Assets$4,192,687

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $3,469,5422010Expenses 2011: $3,109,1102011Expenses 2012: $3,744,6732012Revenue 2013: $3,715,081Expenses 2013: $3,712,201Net Income 2013: $2,8802013Revenue 2014: $4,250,092Expenses 2014: $4,248,521Net Income 2014: $1,5712014Revenue 2015: $4,168,094Expenses 2015: $4,165,618Net Income 2015: $2,4762015Revenue 2016: $4,531,094Expenses 2016: $4,528,442Net Income 2016: $2,6522016Revenue 2017: $4,970,115Expenses 2017: $4,791,469Net Income 2017: $178,6462017Revenue 2018: $4,613,108Expenses 2018: $4,622,713Net Income 2018: -$9,6052018Revenue 2019: $4,908,107Expenses 2019: $5,066,715Net Income 2019: -$158,6082019Revenue 2020: $5,130,096Expenses 2020: $4,956,127Net Income 2020: $173,9692020Revenue 2021: $5,634,152Expenses 2021: $5,301,013Net Income 2021: $333,1392021Revenue 2022: $6,350,177Expenses 2022: $5,993,869Net Income 2022: $356,3082022Revenue 2023: $5,612,164Expenses 2023: $5,703,803Net Income 2023: -$91,6392023Revenue 2024: $6,318,185Expenses 2024: $6,416,470Net Income 2024: -$98,2852024

Highlighted filing

2022

Revenue$6,350,177
Expenses$5,993,869
Net Income$356,308
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 15, 2023
Return Version
2022v5.0
Gross Receipts
$6,350,177
Mission and Program Overview

Mission

To build on existing strength within the field of jewish education in north america, by addressing all forms of pre-collegiate and adult jewish education through awards to individuals and grants to institutions for creative programs.

To build on existing strength within the field of jewish education in north america.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$2,720,157$6,350,000▲ $3,629,843
Savings and Temporary Cash Investments$1,021,562$960,714▼ $60,848
Land, Buildings, and Equipment, Net$2,683$797,097▲ $794,414
Prepaid Expenses and Deferred Charges$106,646$69,846▼ $36,800
Intangible Assets$0$57,167▲ $57,167
Accounts Receivable$0$3,205▲ $3,205
Cash and Non-Interest-Bearing Accounts$100$100→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$3,851,148$8,238,129▲ $4,386,981
Other Assets Total$0$0→ $0
Liabilities
Grants Payable$2,780,771$3,460,018▲ $679,247
Accounts Payable and Accrued Expenses$513,841$585,424▲ $71,583
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$3,294,612$4,045,442▲ $750,830
Net Assets / Fund Balance
Net Assets With Donor Restrictions$502,650$3,282,493▲ $2,779,843
Net Assets Without Donor Restrictions$53,886$910,194▲ $856,308
Total Net Assets Fund Balance$556,536$4,192,687▲ $3,636,151
Total Liabilities and Net Assets / Fund Balance$3,851,148$8,238,129▲ $4,386,981

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$643,965$68,184$712,149
Other Land Buildings$153,132$10,466$163,598
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Joni-sue B LevineExecutive DirectorFT$200,396$40,450$240,846
Abby E PitkowskyProgram DirectorFT$126,574$48,087$174,661
Ralia WagnerDirector of FinanceFT$116,194$54,328$170,522
Adina Kay-grossEditorial DirectorFT$116,251$12,214$128,465

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Rosov Consulting LLCGrant Eval/oversight2095 Rose Street Suite 101, Berkeley, CA 94709$139,795
Revenue and Support

Revenue Composition

Contributions and Grants
$6,350,000
Program Service Revenue
$0
Investment Income
$177
Other Revenue
$0
All Other Contributions
$6,350,000
Change in Net Assets
$356,308

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,350,177
Revenue Not Reported on Form 990
$3,675,043
Total Revenue per Audited Statements
$10,025,220
Total Revenue per Form 990
$6,350,177
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$2,561,034
Other Expenses$2,051,267
Salaries, Compensation, and Employee Benefits$1,381,568
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$2,363,034--$2,363,034
Other Salaries and Wages$602,811$166,869-$769,680
Fees for Services Other$572,437$17,312-$589,749
Conferences and Meetings$388,216$2,188-$390,404
Information Technology$202,942$99,894-$302,836
Current Officers, Directors, Trustees, and Key Employees$209,191$31,259-$240,450
Other Employee Benefits$151,382$47,609-$198,991
Office Expenses$139,352$55,724-$195,076
Grants to Domestic Individuals$183,000--$183,000
Occupancy$53,833$107,972-$161,805
Advertising$134,055$658-$134,713
Travel$114,249$2,940-$117,189
Pension Plan Contributions$81,124$16,893-$98,017
Depreciation Depletion$69,819$17,573-$87,392
Payroll Taxes$59,259$15,171-$74,430
Fees for Services Legal-$25,009-$25,009
Fees for Services Accounting-$24,789-$24,789
Insurance$17,820$4,485-$22,305
Foreign Grants$15,000--$15,000
Total Functional Expenses$5,357,524$636,345$0$5,993,869

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$6,389,069
Expenses per Audited Statements$5,993,869
Total Expenses per Form 990$5,993,869
Expenses Not Reported on Form 990$395,200
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Prizmah Centre for Jewish Day SchoolsNew York, NY501(c)(3)See Part Iv$170,000
Hebrew CollegeNewton Centre, MA501(c)(3)See Part Iv$150,000
IkarLos Angeles, CA501(c)(3)See Part Iv$150,000
Labshul (storahtelling Labshul Inc)New York, NY501(c)(3)See Part Iv$150,000
Moving TraditionsElkins Park, PA501(c)(3)See Part Iv$150,000
Shomer Collective Powered by Natan (fsfjc))New York, NY501(c)(3)See Part Iv$150,000
SvaraChicago, IL501(c)(3)See Part Iv$150,000
VILNA SHUL BOSTON'S CENTRE FOR JEWISH CULTUREBoston, MA501(c)(3)See Part Iv$150,000
Wilderness TorahBerkeley, CA501(c)(3)See Part Iv$147,500
Avodah the Jewish Service CorpsNew York, NY501(c)(3)See Part Iv$145,000
The Hadar Institute - Childern & Family DivisionNew York, NY501(c)(3)See Part Iv$140,000
Jewish Studio ProjectBerkeley, CA501(c)(3)See Part Iv$135,000
The Brandeis School of San FranciscoSan Francisco, CA501(c)(3)See Part Iv$52,874
Edge Grant Leveraging Success (tbd)New York, NY501(c)(3)See Part Iv$50,000
Jewish Communityn of VermontBurlington, VT501(c)(3)See Part Iv$50,000
Jimenajews Indigenous to the Middle East&nafricaSan Francisco, CA501(c)(3)See Part Iv$50,000
Machon Siach at Sar High SchoolRiverdale, NY501(c)(3)See Part Iv$50,000
One TableNew York, NY501(c)(3)See Part Iv$50,000
Orot the Centre for New Jewish LearningSkokie, IL501(c)(3)See Part Iv$50,000
Jewish Grandparents NetworkSandy Springs, GA501(c)(3)See Part Iv$49,500
Makom CommunityPhiladelphia, PA501(c)(3)See Part Iv$47,000
SvivahWashington, DC501(c)(3)See Part Iv$47,000
Modern Jewish Couples (fs Beloved Builders)Florence, MA501(c)(3)See Part Iv$45,000
MA'A LOT(FS BELOVED BUILDERS INC)Florence, MA501(c)(3)See Part Iv$30,000
Moed IncorporatedChevy Chase, MD501(c)(3)See Part Iv$20,250
Exploring Black NarrativesNew York, NY501(c)(3)See Part Iv$20,000
Sephardic American Mizrahi InitiativeHollywood, FL501(c)(3)See Part Iv$20,000
The Light LabNew York, NY501(c)(3)See Part Iv$20,000
Milton Gottesman Jewish Day SchoolWashington, DC501(c)(3)See Part Iv$18,000
The Bronfman Center for Jewish Student Life at NyuNew York, NY501(c)(3)See Part Iv$15,000

International Summary

Offices
0
Employees
0
Spending
$15,000

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
North AmericaGrantmakingPomegranate Prize00$15,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

990 Review Process - Part VI, Section B, Line 11B

1.Audit Committee of the Board reviews the first draft of the Federal Form 990 during an Audit Committee meeting. 2. Edits and suggestions are communicated to management and auditors Management works with auditors to review suggested edits. 3. Final version is sent to Audit Committee of the Board before final submission. 4. Audit committee has been granted authority to review and approve the tax filing on behalf of the Board.

Conflict of Interest Policy - Part VI, Section B, Line 12C

1. All Board members are given a copy of our conflict of interest policy annually. 2. Along with that is a form that they fill out revealing any relationships that might present a conflict of interest. 3. These forms are signed by each board member and KEPT on file.

Information Policy for Public Review of Records - Part VI, Sec C, Line 19

For any person(s) who wish(es) to review the governing documents and financial statements, this information will be provided to them, at the organization's office, upon request.

Exececutive Director Compensation -Part VI, Section B, Line 15A & Line 15B

1. Performance review was conducted by an Executive Compensation Committee that consists of the Chair of the Board and Chair of the Audit Committee. 2. They conduct a performance review and recommend a salary adjustment 3. Recommendations for salary adjustment is part of the annual budget process which is reviewed by the full board prior to approval.

Filing and Contact Details

Filer

Filer Name
Covenant Foundation
EIN
36-3722029
In Care Of
% RALIA WAGNER
Phone
2122453500
Address
45 Rockefeller Plaza Ste 2300, New York, NY 10111-2399

Signing Officer

Name
Joni-sue B Levine
Title
Executive Director
Phone
2122453500
Signed
2023-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joni-sue B Levine
Formed
1990
Legal Domicile
Ny
Voting Board Members
12
Independent Board Members
11
Employees
13
Volunteers
11

Preparer

Firm
WithumSmithBrown PC
Address
ONE TOWER CENTER BLVD 14TH FL, EAST BRUNSWICK, NJ 08816
Preparer
James Mulroy
Phone
7328281614
Supplemental Narrative

Additional Explanations

Form 990, Schedule I, Part IV, Purpose of Grant pg 1-3

1. Chronic Congregation: Centering Judaism, Chronic Illness, and Disability. To launch a Jewish learning program in which students explore disability and illness in traditional Jewish texts and re-envision prayers and rituals to reflect their lived experiences, with the goal of bringing increased inclusion and accessibility to Bronfman and beyond. 2. Nurturing Black Jewish Educators in Jewish Day Schools. To deepen the engagement of Black Jewish teaching artists in the Exploring Black Narratives educational experience, in which Jewish middle and high school students study contemporary plays by Black writers. 3. The T'fillah Teachers Fellowship. To create The T'fillah Teachers Fellowship, a cohort learning experience that will train congregational educators in an innovative pedagogy of spiritual development through t'fillah to enrich spiritual education in religious schools across the country. 4. Kinesthetic Midrash: Torah Learning Through Music and Movement. To develop and implement an immersive, music-based Kinesthetic Midrash curriculum for students in Grades 2 to 5, opening pathways for a diverse cohort of learners to actively interpret and share their understanding of Torah. 5. SAMiHub. To create SAMiHub, a campus club for Sephardic and Mizrahi students on three college campuses across the country that will empower them to explore their Sephardic and Mizrahi identities. 6. Educators Cohort, Institute for Social Change. To support the Avodah Institute for Social Change's Educators Cohort, which will help mid-level and senior-level Jewish educational leaders build a toolbox to deepen their institutions' commitment to social change now and in the future. 7. Encountering Democracy: The (Mifgash) Project - To develop a kindergarten through eighth grade curriculum and an educator's toolkit on civic engagement and American Jewish history. 8. Shmita Statewide - To develop a sustainable statewide program that unites the Jewish community through collaborative Jewish education programs focused on a variety of issues, including shmita and the seven-year cycle of renewal and action. 9. "To Every Thing There Is a Season": Life Stages Curriculum for Grandparents and Grandchildren - To support the development of meaningful experiences and rituals for grandparents and grandchildren at a significant life stage: becoming b-mitzvah. 10. Faculty Beit Midrash Innovation Lab - To launch the Faculty Beit Midrash Innovation Lab, which will provide opportunities for practical educational innovation by supporting faculty members in bringing their research to life in the classroom and the school. 11. Makom Community South Philadelphia. To serve Jewish families in South Philadelphia through the expansion of its accessible daily afterschool enrichment programs for children in pre-K through 7th grade. 12. InNOVAtive Jewish Learning: MoEd in Northern Virginia. To expand MoEd's vibrant and diverse year-round immersive Hebrew language after school program to a third Jewish community in Northern Virginia. 13. The 25th Hour - To develop, in partnership with Let it Ripple, a virtual program to prepare cohorts of Jewish young adults to engage in tech-free Shabbat as a means of fostering lifelong mental health and well-being. 14. Weaving the Web: Expanding the Peaceful Parent Project. To expand its cohort-based program, which supports Jewish parents with Jewish wisdom and mindfulness practices, to a national audience by partnering with institutions around the country and training local Peaceful Parent facilitators. 15. A Little Taste of Devash. To create A Little Taste of Devash-original Torah content for young children and their families based on the weekly parasha-as well as to support educators and parents in using this new resource, and to distribute it nationally. 16. Spiritual Formation in Rabbinic Education. To expand its work on spiritual formation to provide future rabbis with the spiritual resources and resiliency needed to care for congregants and st

Financial Statement Notes

FORM 990, Schedule D, Part X, Line 2

The Foundation, in accordance with accounting standards regarding accounting for uncertainty in income taxes has evaluated uncertain Tax positions regarding accounting for contingencies and has determined it has no uncertain tax positions as December 31, 2022 and 2021. The Foundation files tax return in the U.S. Federal jurisdiction, New York and Illinois. The Foundation has no income tax related penalties or interest for the periods reported in the financial statements.

FORM 990, Schedule D, Part XI, Line 2D

Donated office space - $3,279,843

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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.69$3.46$3.24$6.32$6.42$0.10
2023Detailed filing. Detailed filing data is available for this year.$7.27$3.56$3.71$5.61$5.70$0.09
2022Detailed filing. Detailed filing data is available for this year.$8.24$4.05$4.19$6.35$5.99$0.36
2021Detailed filing. Detailed filing data is available for this year.$3.85$3.29$0.56$5.63$5.30$0.33
2020Detailed filing. Detailed filing data is available for this year.$3.12$2.90$0.22$5.13$4.96$0.17
2019Detailed filing. Detailed filing data is available for this year.$3.00$2.95$0.05$4.91$5.07$0.16
2018Detailed filing. Detailed filing data is available for this year.$3.07$2.86$0.21$4.61$4.62$0.01
2017Detailed filing. Detailed filing data is available for this year.$3.39$3.17$0.22$4.97$4.79$0.18
2016Detailed filing. Detailed filing data is available for this year.$2.95$2.91$0.04$4.53$4.53$0.00
2015Detailed filing. Detailed filing data is available for this year.$3.21$3.18$0.04$4.17$4.17$0.00
2014Detailed filing. Detailed filing data is available for this year.$2.93$2.89$0.03$4.25$4.25$0.00
2013Detailed filing. Detailed filing data is available for this year.$2.60$2.57$0.03$3.72$3.71$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.66$2.63$0.03$3.74
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.44$2.41$0.03$3.11
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.67$2.64$0.03$3.47