//
Also known as: C/O STERLING FOUNDATION MANAGEMENT LLC
Work at this foundation?
Claim this profile to manage it and see interest from grant seekers.
Covalent Foundation is a private corporation based in RESTON, VA. The foundation received its IRS ruling in 2016. The principal officer is Ellen Fishbein. It holds total assets of $4.8M. Annual income is reported at $4.6M. The foundation is governed by 3 officers and trustees. The foundation operates in the area of philanthropy & grantmaking. According to its most recent filing, the foundation only makes contributions to preselected charitable organizations. Tax records are available from 2016 to 2023. The foundation primarily funds organizations in Texas and Virginia. According to available records, Covalent Foundation has made 27 grants totaling $5.9M, with a median grant of $95K. Annual giving has grown from $997K in 2020 to $3.3M in 2022. Individual grants have ranged from $5K to $1M, with an average award of $219K. The foundation has supported 9 unique organizations. Grants have been distributed to organizations in Texas and Virginia. Contributions to this foundation are tax-deductible.
Smallest Grant
$5K
Median Grant
$100K
Average Grant
$199K
Largest Grant
$618K
Based on 5 grants from the most recent 990-PF filing.
No program descriptions are available for this foundation. Many private foundations report program activities in their annual 990-PF filings — check the Tax Filings section below for the most recent filing.
Covalent Foundation primarily funds organizations in the area of philanthropy & grantmaking. Based on available records, the foundation has funded 27 grants. Its grantmaking reaches organizations primarily in TX, VA.
Covalent Foundation has distributed a total of $5.9M across 27 grants. The median grant size is $95K, with an average of $219K. Individual grants have ranged from $5K to $1M.
Covalent Foundation typically selects its grantees rather than accepting unsolicited proposals.
Covalent Foundation is headquartered in RESTON, VA. While based in VA, the foundation distributes grants to organizations across 2 states.
| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| Julia C Mckenzie | VP/DIRECTOR | $90K | $12K | $102K |
| Jessica L Ziehr | VP/DIRECTOR | $70K | $2K | $72K |
| Mark Mckenzie | PRESIDENT/DIRECTOR | $0 | $0 | N/A |
Total Giving
$1.7M
Total Assets
$5.3M
Fair Market Value
$5.4M
Net Worth
$5.3M
Grants Paid
$1.4M
Contributions
$2M
Net Investment Income
$149K
Distribution Amount
$302K
Total: N/A
Total Grants
27
Total Giving
$5.9M
Average Grant
$219K
Median Grant
$95K
Unique Recipients
9
Most Common Grant
$10K
of 2022 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| Dell Children'S Medical Center FoundationPARTIAL FUNDING FOR DCMC TO ESTABLISH PEDIATRIC MENTAL HEALTH PARTIAL HOSPITALIZATION PROGRAM, SUPPORT THE MATERNAL FETAL MEDICINE PROGRAM | Austin, TX | $707K | 2022 |
| The Seton FundTHE SETON FUND AND CENTRAL TEXAS COMMUNITY HEALTH CENTERS, SETON COMMUNITY CARE OBSTETRICS CARE, CARE PARTNERS (FORMERLY CARE CONNECTIONS PROGRAMS), CAREPARTNERS PROGRAM, THE SAFE ALLIANCE TO DEVELOP OUTREACH FOR HUMAN TRAFFICKING PREVENTION HUB | Austin, TX | $397K | 2022 |
| Court Appointed Special Advocates (Casa) Of Travis CountyPARTIAL FUNDING FOR CASA PER GRANT AGREEMENT, IMPROVE DATA MANAGEMENT SYSTEM AND CAPABILITIES | Austin, TX | $375K | 2022 |
| The Safe AllianceSAFE CARES OUTREACH PROGRAM | Austin, TX | $95K | 2022 |
| Rangerace Construction Camp FoundationGENERAL SUPPORT, SUMMER CAMP EXPENSES | Reston, VA | $49K | 2022 |
| Texas Advocacy Project (Tap)TO PROVIDE ARREST/CONVICTION EXPUNGEMENT SERVICES FOR HUMAN TRAFFICKING VICTIMS, FUNDING FOR TAP AND SERVICES TO HUMAN TRAFFICKING VICTIMS | Austin, TX | $20K | 2022 |
| The Meliora FoundationGENERAL SUPPORT | Reston, VA | $10K | 2022 |
| Ascension Seton Seton Medical Center AustinCAREPARTNERS PROGRAM - YEAR 3 | Austin, TX | $393K | 2021 |
| Seton MedicalSUPPORT FOR THE "CARE CONNECTIONS PROGRAM" | Austin, TX | $257K | 2020 |