Nonprofit · EIN 42-1295784
COVENANT FOUNDATION INC
Tax-exempt · WATERLOO, IA 50702
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $816,171 | $1,013,262 | -$197,091 | $6,768,770 | $27,517 | $6,741,253 |
| June 30, 2024 | 990 | $2,120,318 | $1,257,534 | $862,784 | $6,459,436 | $35,639 | $6,423,797 |
| June 30, 2023 | 990 | $829,989 | $583,564 | $246,425 | $6,511,961 | $0 | $6,511,961 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $484,166
- Program service revenue
- $0
- Investment income
- $310,276
- Net gain from sales of assets
- $70,063
- Net income from fundraising events
- $21,729
- Other revenue
- $21,729
Expenses
- Grants and similar amounts paid
- $728,996
- Other salaries and wages
- $155,689
- Salaries, compensation and benefits (total)
- $193,854
- Professional fundraising fees
- $0
- Occupancy
- $11,016
- Travel
- $259
- Program services (functional)
- $728,996
- Management and general (functional)
- $105,054
- Fundraising (functional)
- $179,212
Balance sheet and other
- Total assets, start of year
- $6,459,436
- Total assets, end of year
- $6,768,770
- Total liabilities, end of year
- $27,517
- Net assets, end of year
- $6,741,253
- Publicly traded securities
- $4,784,399
- Net assets without donor restrictions
- $5,946,183
- Net assets with donor restrictions
- $795,070
- Gross receipts
- $856,832
- Employees
- 0
- Volunteers
- 92
- Year formed
- 1986
- State of legal domicile
- IA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| BRIAN SIMS DO | DIRECTOR; PHYSICIAN - PEDIATRICS Trustee or director | 0.5 | $0 | $602,002 | $58,440 |
| RYAN MEYER | DIRECTOR; MERCYONE NE IA COO Trustee or director, Officer | 0.5 | $0 | $452,520 | $104,768 |
| TIMOTHY HUBER | MERCYONE NORTHEAST IA VP OF FINANCE Officer | 0.5 | $0 | $340,743 | $56,525 |
| JEWELL JONES | DIRECTOR THR 1/25; REGISTERED NURSE Trustee or director | 0.5 | $0 | $11,454 | $2,592 |
| TOM NAGLE | DIRECTOR; CHAIR THROUGH 12/24 Trustee or director, Officer | 0.5 | $0 | $0 | $0 |
| BRIAN SAYER | DIRECTOR; VICE CHAIR Trustee or director, Officer | 0.5 | $0 | $0 | $0 |
| NANCY WEBER | DIRECTOR; CHAIR AS OF 1/25 Trustee or director, Officer | 0.5 | $0 | $0 | $0 |
| DAVE BOWLING | DIRECTOR; TREASURER Trustee or director, Officer | 0.5 | $0 | $0 | $0 |
| KIM FETTKETHER | DIRECTOR; SECRETARY Trustee or director, Officer | 0.5 | $0 | $0 | $0 |
| GABE BERGER | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| JAMES COLOFF | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| SARAH CLARK | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| SHIRLEY DUNLAP | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| STACY FOLKERS | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| LISA GATES | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
6 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| WILLIAM KASTEN MD | DIRECTOR Trustee or director | 0.5 | $0 |
| DAN KEAGLE | DIRECTOR Trustee or director | 0.5 | $0 |
| BECKY MUDD | DIRECTOR Trustee or director | 0.5 | $0 |
| AMBER SCHUCHMANN | DIRECTOR Trustee or director | 0.5 | $0 |
| TONY THOMPSON | DIRECTOR Trustee or director | 0.5 | $0 |
| MILLISA TIERNEY | DIRECTOR Trustee or director | 0.5 | $0 |
990 for the year ended June 30, 2024: 21 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| BRIAN SIMS DO | DIRECTOR; PHYSICIAN Trustee or director | 0.5 | $0 | $603,725 | $68,606 |
| RYAN MEYER | DIRECTOR; MERCYONE NE IA COO Trustee or director, Officer | 0.5 | $0 | $355,257 | $70,530 |
| TIMOTHY HUBER | VP OF FINANCE Officer | 0.5 | $0 | $312,625 | $64,341 |
| JEWELL JONES | DIRECTOR; MGR, PATIENT CARE THR 2/24 Trustee or director | 0.5 | $0 | $116,256 | $32,917 |
| TOM NAGLE | DIRECTOR; CHAIR Trustee or director, Officer | 0.5 | $0 | $0 | $0 |
| BRIAN SAYER | DIRECTOR; VICE CHAIR Trustee or director, Officer | 0.5 | $0 | $0 | $0 |
| NANCY WEBER | DIRECTOR; VICE CHAIR Trustee or director, Officer | 0.5 | $0 | $0 | $0 |
| DAVE BOWLING | DIRECTOR; TREASURER Trustee or director, Officer | 0.5 | $0 | $0 | $0 |
| KIM FETTKETHER | DIRECTOR; SECRETARY Trustee or director, Officer | 0.5 | $0 | $0 | $0 |
| GABE BERGER | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| JAMES COLOFF | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| SARAH DOBES | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| SHIRLEY DUNLAP | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| STACY FOLKERS | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| LISA GATES | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| WILLIAM KASTEN MD | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| DAN KEAGLE | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| BECKY MUDD | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| AMBER SCHUCHMANN | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| TONY THOMPSON | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| MILLISA TIERNEY | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
990 for the year ended June 30, 2023: 25 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| JACK DUSENBERY | DIR & PRES, MERCYONE NE IA THR 4/23 Trustee or director | 0.5 | $0 | $705,049 | $45,779 |
| BRIAN SIMS DO | DIRECTOR; SECRETARY; PHYSICIAN Trustee or director, Officer | 0.5 | $0 | $516,081 | $63,182 |
| TIMOTHY HUBER | VP OF FINANCE Officer | 0.5 | $0 | $288,515 | $59,758 |
| RYAN MEYER | DIRECTOR; VP SITE ADMINISTRATOR Trustee or director | 0.5 | $0 | $197,415 | $36,058 |
| CHRIS BRADY | DIRECTOR; ADMIN DIR - OPERATIONS Trustee or director | 0.5 | $0 | $118,394 | $20,675 |
| JEWELL JONES | DIRECTOR; MGR, PATIENT CARE Trustee or director | 0.5 | $0 | $98,069 | $29,991 |
| NANCY WEBER | DIR; V CHAIR THR 12/22; CHAIR-1/23 Trustee or director, Officer | 0.5 | $0 | $119 | $0 |
| DAN KEAGLE | DIRECTOR; CHAIR THROUGH 12/22 Trustee or director, Officer | 0.5 | $0 | $0 | $0 |
| BRIAN SAYER | DIR; TREAS THR 12/22; V CHAIR-1/23 Trustee or director, Officer | 0.5 | $0 | $0 | $0 |
| DAVE BOWLING | DIRECTOR; TREASURER AS OF 1/23 Trustee or director, Officer | 0.5 | $0 | $0 | $0 |
| TAMMY BEDARD | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| GABE BERGER | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| JIM COLOFF | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| SARAH DOBES | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| SHIRLEY DUNLAP | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| KIM FETTKETHER | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| STACY FOLKERS | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| LISA GATES | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| WILLIAM KASTEN MD | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| BECKY MUDD | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| DAWN PILIPCHUK-KRUTH | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| AMBER SCHUCHMANN | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| DON TEMEYER | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| TONY THOMPSON | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| MILLISA TIERNEY | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 3421 W 9TH ST, WATERLOO, IA 50702-5401
- In care of
- % TIMOTHY HUBER
- Principal officer (990 for 2024)
- RYAN MEYER, 3421 WEST NINTH STREET, WATERLOO, IA 50702
- Signed the 990
- TIMOTHY HUBER, VP OF FINANCE
- Phone
- (319) 272-8000
Mission
WE, COVENANT FOUNDATION AND TRINITY HEALTH, SERVE TOGETHER IN THE SPIRIT OF THE GOSPEL AS A COMPASSIONATE AND TRANSFORMING HEALING PRESENCE WITHIN OUR COMMUNITIES. COVENANT FOUNDATION IS A MEMBER OF TRINITY HEALTH.
Program accomplishments
- SINCE 1986, COVENANT FOUNDATION (MERCYONE WATERLOO FOUNDATION), LOCATED IN WATERLOO, IOWA, HAS SERVED AS THE FUNDRAISING ARM OF COVENANT MEDICAL CENTER (MERCYONE WATERLOO MEDICAL CENTER).IN FISCAL YEAR 2025, THE FOUNDATION RAISED OVER $300,000 FROM INDIVIDUALS, CORPORATIONS, AND PRIVATE FOUNDATIONS WITH ASSISTANCE FROM DEDICATED VOLUNTEERS AND GENEROUS FRIENDS. FUNDING FROM THE FOUNDATION HELPS MERCYONE WATERLOO MEDICAL CENTER MEET THE HEALTH CARE NEEDS OF ITS PATIENTS AND THE COMMUNITY. PLEASE VISIT OUR WEBSITE FOR ADDITIONAL INFORMATION: WWW.MERCYONE.ORG/NORTHEASTIOWA/GIVING/WATERLOO-FOUNDATIONExpenses $728,996 · grants $728,996
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 42-1295784
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 1988
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $6,768,770
- Income (IRS master file)
- $856,832
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $816,171 | $1,013,262 | $6,768,770 | IRS |
| 990 | June 2024 | $2,120,318 | $1,257,534 | $6,459,436 | IRS |
| 990 | June 2023 | $829,989 | $583,564 | $6,511,961 | XML |
| 990 | June 2022 | -$417,229 | $990,016 | $5,921,895 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 42-1295784).
Questions about COVENANT FOUNDATION INC
- What is the EIN of COVENANT FOUNDATION INC?
- The employer identification number (EIN) of COVENANT FOUNDATION INC is 42-1295784.
- Is COVENANT FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1988.
- Are donations to COVENANT FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does COVENANT FOUNDATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of COVENANT FOUNDATION INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did COVENANT FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of COVENANT FOUNDATION INC?
- The 990 for the year ended June 30, 2025 names RYAN MEYER.
- Who are the officers and directors of COVENANT FOUNDATION INC?
- The 990 for the year ended June 30, 2025 lists 21 people; 0 received compensation from the organization.
- How much revenue does COVENANT FOUNDATION INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $816,171, expenses of $1,013,262 and total assets of $6,768,770 at year end.
Other nonprofits in WATERLOO
- VERIDIAN CREDIT UNION EIN 42-1132695 · last filed 990 for 2024
- ALLEN MEMORIAL HOSPITAL CORPORATION EIN 42-0698265 · last filed 990 for 2024
- COVENANT MEDICAL CENTER INC EIN 42-1264647 · last filed 990 for 2025
- WHEATON FRANCISCAN HEALTHCARE-IOWA INC EIN 42-1177001 · last filed 990 for 2025
- FRIENDS OF FAITH RETIREMENT HOMES INC EIN 51-0245745 · last filed 990 for 2026
- EXCEPTIONAL PERSONS INC EIN 42-0794846 · last filed 990 for 2025
- NORTHEAST IOWA FOOD BANK INC EIN 42-1169648 · last filed 990 for 2025
- GOODWILL INDUSTRIES OF NORTHEAST IOWA INC EIN 42-0839399 · last filed 990 for 2025