Civic Intelligence

Covenant Community Capital Corporation

EIN 76-0573676 • 501(c)3 • Houston, TX

Profile

Covenant equips aspirational working families to thrive and secure intergenerational resilience by acquiring affordable homes, accessing quality education, managing risk, and building savings for life.

PO Box 15398Houston, TX 77220

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

70th percentile

0.33x

Higher debt load relative to assets than 70% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

85th percentile

1.01x

Higher debt load relative to revenue than 85% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

32nd percentile

-1.9%

Higher net margin than 32% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

62nd percentile

$161,383

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 6.2% of source-year revenue.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

21st percentile

-4.5%

Faster asset growth than 21% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

62nd percentile

14%

Faster revenue growth than 62% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets70th percentile

Assets

Down

$7,943,258

Down $373,299 (-4.5%) from 2023

Liabilities

Down

$2,643,801

Down $323,433 (-11%) from 2023

Net Assets

Down

$5,299,457

Down $49,866 (-0.9%) from 2023

Operations
Liabilities / Revenue85th percentileNet Margin32nd percentile

Revenue

Up

$2,623,492

Up $325,243 (+14%) from 2023

Expenses

Up

$2,673,358

Up $268,105 (+11%) from 2023

Net Income

Up

-$49,866

Up $57,138 (+53%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth21st percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0Assets 2009: $4,712,078Liabilities 2009: $1,868,848Net Assets 2009: $2,843,2992009Assets 2010: $9,921,049Liabilities 2010: $6,402,777Net Assets 2010: $3,518,2722010Assets 2011: $9,581,233Liabilities 2011: $6,076,558Net Assets 2011: $3,504,6752011Assets 2012: $7,971,600Liabilities 2012: $4,491,015Net Assets 2012: $3,480,5852012Assets 2013: $8,572,567Liabilities 2013: $4,613,468Net Assets 2013: $3,959,0992013Assets 2014: $8,280,581Liabilities 2014: $4,440,301Net Assets 2014: $3,840,2802014Assets 2015: $8,819,221Liabilities 2015: $4,599,381Net Assets 2015: $4,219,8402015Assets 2016: $9,625,857Liabilities 2016: $5,632,881Net Assets 2016: $3,992,9762016Assets 2017: $9,269,346Liabilities 2017: $5,402,461Net Assets 2017: $3,866,8852017Assets 2018: $11,514,151Liabilities 2018: $4,642,205Net Assets 2018: $6,871,9462018Assets 2019: $10,264,639Liabilities 2019: $3,770,293Net Assets 2019: $6,494,3462019Assets 2020: $9,424,576Liabilities 2020: $3,716,091Net Assets 2020: $5,708,4852020Assets 2021: $9,362,906Liabilities 2021: $3,599,469Net Assets 2021: $5,763,4372021Assets 2022: $9,150,132Liabilities 2022: $3,693,805Net Assets 2022: $5,456,3272022Assets 2023: $8,316,557Liabilities 2023: $2,967,234Net Assets 2023: $5,349,3232023Assets 2024: $7,943,258Liabilities 2024: $2,643,801Net Assets 2024: $5,299,4572024

Highlighted filing

2024

Assets$7,943,258
Liabilities$2,643,801
Net Assets$5,299,457
Open 2024 Filing

Operations Trend

Revenue Growth62nd percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2009: $385,240Expenses 2009: $972,597Net Income 2009: -$587,3572009Revenue 2010: $1,738,207Expenses 2010: $1,063,164Net Income 2010: $675,0432010Revenue 2011: $674,950Expenses 2011: $688,547Net Income 2011: -$13,5972011Revenue 2012: $969,633Expenses 2012: $993,723Net Income 2012: -$24,0902012Revenue 2013: $1,372,610Expenses 2013: $894,096Net Income 2013: $478,5142013Revenue 2014: $1,105,699Expenses 2014: $1,224,518Net Income 2014: -$118,8192014Revenue 2015: $1,449,326Expenses 2015: $1,069,766Net Income 2015: $379,5602015Revenue 2016: $2,214,907Expenses 2016: $2,441,771Net Income 2016: -$226,8642016Revenue 2017: $1,368,787Expenses 2017: $1,494,878Net Income 2017: -$126,0912017Revenue 2018: $4,717,262Expenses 2018: $1,712,201Net Income 2018: $3,005,0612018Revenue 2019: $3,469,907Expenses 2019: $3,847,507Net Income 2019: -$377,6002019Revenue 2020: $3,282,784Expenses 2020: $4,068,645Net Income 2020: -$785,8612020Revenue 2021: $2,210,165Expenses 2021: $2,155,213Net Income 2021: $54,9522021Revenue 2022: $2,093,022Expenses 2022: $2,400,132Net Income 2022: -$307,1102022Revenue 2023: $2,298,249Expenses 2023: $2,405,253Net Income 2023: -$107,0042023Revenue 2024: $2,623,492Expenses 2024: $2,673,358Net Income 2024: -$49,8662024

Highlighted filing

2024

Revenue$2,623,492
Expenses$2,673,358
Net Income-$49,866
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,943,258
Liabilities
$2,643,801
Net assets
$5,299,457
Revenue
$2,623,492
Expenses
$2,673,358
Net income
-$49,866
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$7.94$2.64$5.30$2.62$2.67$0.05
2023Summary only. Only limited summary data is available for this year.$8.32$2.97$5.35$2.30$2.41$0.11
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.15$3.69$5.46$2.09$2.40$0.31
2021Summary only. Only limited summary data is available for this year.$9.36$3.60$5.76$2.21$2.16$0.05
2020Summary only. Only limited summary data is available for this year.$9.42$3.72$5.71$3.28$4.07$0.79
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.3$3.77$6.49$3.47$3.85$0.38
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.5$4.64$6.87$4.72$1.71$3.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.27$5.40$3.87$1.37$1.49$0.13
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.63$5.63$3.99$2.21$2.44$0.23
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.82$4.60$4.22$1.45$1.07$0.38
2014Detailed filing. Detailed filing data is available for this year.$8.28$4.44$3.84$1.11$1.22$0.12
2013Summary only. Only limited summary data is available for this year.$8.57$4.61$3.96$1.37$0.89$0.48
2012Summary only. Only limited summary data is available for this year.$7.97$4.49$3.48$0.97$0.99$0.02
2011Summary only. Only limited summary data is available for this year.$9.58$6.08$3.50$0.67$0.69$0.01
2010Summary only. Only limited summary data is available for this year.$9.92$6.40$3.52$1.74$1.06$0.68
2009Summary only. Only limited summary data is available for this year.$4.71$1.87$2.84$0.39$0.97$0.59
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 30, 2025
Return Version
2024v5.2
Gross Receipts
$2,623,492
Mission and Program Overview

Mission

Covenant was formed in 1998 to enhance the beauty, safety, and economic vitality of low-income communities by increasing their capacity to develop affordable housing, grow business enterprises and build family and community assets.

Covenant equips aspirational working families to thrive and secure intergenerational resilience by acquiring affordable homes, accessing quality education, managing risk, and building savings for life.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,489,925$4,302,775▼ $187,150
Other Notes and Loans Receivable, Net$789,931$1,154,707▲ $364,776
Accounts Receivable$1,138,993$835,745▼ $303,248
Cash and Non-Interest-Bearing Accounts$775,688$566,470▼ $209,218
Prepaid Expenses and Deferred Charges$73,837$69,835▼ $4,002
Savings and Temporary Cash Investments-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$8,316,557$7,943,258▼ $373,299
Other Assets Total$1,048,183$1,013,726▼ $34,457
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,568,298$2,477,380▼ $90,918
Other Liabilities$224,755$111,694▼ $113,061
Accounts Payable and Accrued Expenses$174,181$54,727▼ $119,454
Total Liabilities$2,967,234$2,643,801▼ $323,433
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,116,498$4,134,742▲ $18,244
Net Assets With Donor Restrictions$1,232,825$1,164,715▼ $68,110
Total Net Assets Fund Balance$5,349,323$5,299,457▼ $49,866
Total Liabilities and Net Assets / Fund Balance$8,316,557$7,943,258▼ $373,299

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,330,024$4,404,220$7,734,244
Leasehold Improvements$192,507$1,215,288$1,407,795
Land$780,147-$780,147
Other Land Buildings-$398,307$398,307
Equipment$97$190,277$190,374
Other Assets Org$51,096--
Compensation and Service Providers
Top Officer Pay62nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Stephan FairfieldPresident & CEOPT$83,550$77,833$161,383

Board Members and Trustees

NameTitle
Gloria SandersonChairman
Eugene LeeDirector
Karen BecerraDirector
Shad BoganyDirector
John CochranSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$922,106
Program Service Revenue
$1,664,505
Investment Income
$36,881
Other Revenue
$0
All Other Contributions
$922,106
Change in Net Assets
$-49,866

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,623,492
Total Revenue per Audited Statements
$2,623,492
Total Revenue per Form 990
$2,623,492
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,634,498
Salaries, Compensation, and Employee Benefits$562,174
Grants and Similar Amounts Paid$476,686
Total Fundraising Expense$95,600
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$476,686--$476,686
Depreciation Depletion$288,797$2,476-$291,273
Insurance$283,343$5,838-$289,181
Other Salaries and Wages$259,735--$259,735
Other Employee Benefits$98,206$6,676$18,914$123,796
Current Officers, Directors, Trustees, and Key Employees$53,990$11,998$33,994$99,982
Fees for Services Accounting$36,167$18,889$34,823$89,879
Office Expenses$60,482$2,982$321$63,785
Pension Plan Contributions$43,966$1,743$4,937$50,646
Payroll Taxes$24,482$922$2,611$28,015
Occupancy$25,182--$25,182
Travel$16,882--$16,882
Fees for Services Legal$9,791--$9,791
Other Expenses$5,809--$5,809
Interest$2,469--$2,469
Total Functional Expenses$2,526,234$51,524$95,600$2,673,358

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,673,358
Total Expenses per Audited Statements$2,673,358
Total Expenses per Form 990$2,673,358
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
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
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant security deposits$51,096
IDA Matching Advances$38,995
Prepaid Rent$20,498
Loss in Investment in Partnership$1,105
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Form 990 is reviewed by the President and trustees prior to filing.”

Form 990, Part VI, Section B, Line 12C

“Officers, Directors, Trustees and Key Employees are required to submit immediately for review any actions that could potentially pose a conflict in interest. Such interest is reviewed annually for changes.”

Form 990, Part VI, Section B, Line 15A

“The process includes review of applicable comparability data and compensation surveys.”

Form 990, Part VI, Section B, Line 15B

“The process includes review of applicable comparability data and salary surveys.”

Form 990, Part VI, Section C, Line 19

“Documents are provided upon request.”

Filing and Contact Details

Filer

Filer Name
Covenant Community Capital Corporation
EIN
76-0573676
Phone
8328792204
Address
PO BOX 15398, HOUSTON, TX 77220

Signing Officer

Name
Stephan Fairfield
Title
President & CEO
Signed
2025-10-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephan Fairfield
Formed
1998
Legal Domicile
TX
Voting Board Members
5
Independent Board Members
4
Employees
7

Preparer

Firm
M Group Llp
Address
515 W SOUTHLAKE BLVD Ste 150, SOUTHLAKE, TX 76092
Preparer
Michael C Martin
Phone
8178651360
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24A

“Multifamily program expenses:property staff 223,705property staff benefits 32,270advertising & marketing 8,015leasing office expenses 19,384property management fees 75,789utilities 162,577operating & maintenance 172,221 _________total multifamily expenses $ 693,961 =========”

Financial Statement Notes

Part X : FIN48 Footnote

“The Corporation is a not-for-profit corporation under the provisions of Section 501(c)(3) of the Internal Revenue Code and is exempt from federal income taxes. The Corporation did not have any unrelated business income during 2024 and 2023. Current accounting standards require that entities recognize any uncertain tax position that is more-likely-than-not to be sustained upon examination. Management believes it has no material uncertain tax positions. Accordingly, no provision or benefits for income taxes have been recorded in the financial statements.Income tax returns filed by the Corporation are subject to examination by the Internal Revenue Service for a period of three years. There are no examinations currently in progress.”

Raw XML AppendixShowing 400 of 631 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0Affordable Family Townhome Rentals In 2010 PNC Bank approached Covenant to do a workout on a distressed 128-unit 2002 rental community in Baytown known as Townhomes of Bay Forest. Covenant obtained a $5,660,000 0% loan to retire the defaulted mortgage, make capital improvements, build a playground, and lower rents to be affordable to families earning 50% of the area median income. In 2018, Covenant acquired PNCs limited partner interest in the community. Covenant staff live onsite and provide after school, summer, and holiday family programming.
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IRS990/Form990PartVIISectionAGrp/PersonNm0Stephan Fairfield
IRS990/Form990PartVIISectionAGrp/PersonNm1John Cochran
IRS990/Form990PartVIISectionAGrp/PersonNm2Karen Becerra
IRS990/Form990PartVIISectionAGrp/PersonNm3Eugene Lee
IRS990/Form990PartVIISectionAGrp/PersonNm4Gloria Sanderson
IRS990/Form990PartVIISectionAGrp/PersonNm5Shad Bogany
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IRS990/Form990PartVIISectionAGrp/TitleTxt1Secretary
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IRS990/ProgSrvcAccomActy2Grp/Desc0Family Asset Building through financial education, coaching, savings prizes, savings matches and 0% loans that equip aspirational working families to secure economic mobility and intergenerational resilience by acquiring affordable homes, accessing quality education,managing risk,and building savings for life.In 24 505 families recd financial education,538 financial coaching,170 saved an emergency fund of $500+,91 wrote their first will(new for 2024),98 recd cash savings prizes,and 54 families earning an average of $34,328 at enrollment rec'd a savings match to buy their first home. A 24 study of Home Mortgage Disclosure Act data by the Nat'l Community Reinvestment Coalition notedThere is a clear indication that Covenant clients are getting much better rates than similar borrowers that do not work with Covenant.This is seen throughout the entire set of data regardless of the borrowersDTI.
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IRS990/ProgSrvcAccomActy3Grp/Desc0Community Asset Building through financing and development expertise to create home and job opportunities for low-income families. Since 2000 Covenant has facilitated the creation of 700+ jobs and 2,336 affordable homes, and restored 351 storm damaged homes. In 2024: we completed lease-up for the 93-unit Sunrise Lofts for youth aging out of foster care we developed for Tejano Center in EADO, and we restored roofs and general habitability for 28 low-income families impacted by Hurricane Beryl for the Greater Houston Disaster Alliance.
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0Bank on Houston, led by City Controller Chris Hollins, is a collaborative with the Federal Reserve, FDIC, United Way and local banks to help working households access affordable financial services. Covenant is the initiatives nonprofit sponsor and provides staff support and expense administration.
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