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Covenant Foundation is a private association based in NEWTOWN SQUARE, PA. The foundation received its IRS ruling in 0000. The principal officer is Arnold Schneider. It holds total assets of $11.9M. Annual income is reported at $2.1M. Total assets have grown from $4.6M in 2011 to $10.8M in 2023. The foundation is governed by 2 officers and trustees. According to its most recent filing, the foundation only makes contributions to preselected charitable organizations. Tax records are available from 2020 to 2023. According to available records, Covenant Foundation has made 5 grants totaling $1.8M, with a median grant of $395K. Annual giving has decreased from $380K in 2020 to $168K in 2023. Grantmaking activity was highest in 2022 with $812K distributed across 2 grants. Individual grants have ranged from $168K to $406K, with an average award of $351K. The foundation has supported 2 unique organizations. Grant recipients are concentrated in Rhode Island. Contributions to this foundation are tax-deductible.
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.
Covenant Foundation is a private foundation that provides grants to eligible organizations. Based on available records, the foundation has funded 5 grants. Its grantmaking reaches organizations primarily in RI.
Covenant Foundation has distributed a total of $1.8M across 5 grants. The median grant size is $395K, with an average of $351K. Individual grants have ranged from $168K to $406K.
Covenant Foundation typically selects its grantees rather than accepting unsolicited proposals.
Covenant Foundation is headquartered in NEWTOWN SQUARE, PA.
| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| Arnold C Schneider Iii | Trustee | $0 | $0 | N/A |
| Dorothy Schneider | Trustee | $0 | $0 | N/A |
Total Giving
$173K
Total Assets
$10.8M
Fair Market Value
$10.8M
Net Worth
$10.8M
Grants Paid
$168K
Contributions
$1.5M
Net Investment Income
$329K
Distribution Amount
$443K
Total: $8.2M
Total Grants
5
Total Giving
$1.8M
Average Grant
$351K
Median Grant
$395K
Unique Recipients
2
Most Common Grant
$406K
of 2023 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| Vaguard Charitable FundGENERAL | Warwick, RI | $168K | 2023 |
| Vanguard Charitable Fundgrants to charitable organizations | Warwick, RI | $380K | 2020 |