Nonprofit · EIN 54-0524902
COVENANT WOODS
Tax-exempt · MECHANICSVILLE, VA 23111
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| March 31, 2025 | 990 | $38,798,410 | $39,151,734 | -$353,324 | $151,719,126 | $149,141,530 | $2,577,596 |
| March 31, 2024 | 990 | $39,083,157 | $46,360,111 | -$7,276,954 | $149,123,886 | $146,719,326 | $2,404,560 |
| March 31, 2023 | 990 | $36,760,268 | $43,566,569 | -$6,806,301 | $151,782,906 | $145,853,824 | $5,929,082 |
Financial details: 990 for the year ended March 31, 2025
Revenue
- Contributions, gifts and grants
- $197,015
- Program service revenue
- $35,575,110
- Investment income
- $1,218,781
- Net rental income
- $12,500
- Net gain from sales of assets
- -$375,583
- Other revenue
- $1,807,504
Expenses
- Grants and similar amounts paid
- $545,133
- Compensation of officers, directors and key employees
- $661,482
- Other salaries and wages
- $14,783,349
- Salaries, compensation and benefits (total)
- $18,871,849
- Professional fundraising fees
- $0
- Legal fees
- $48,060
- Accounting fees
- $106,234
- Occupancy
- $2,863,705
- Travel
- $37,432
- Depreciation
- $6,438,162
- Program services (functional)
- $29,595,763
- Management and general (functional)
- $9,386,388
- Fundraising (functional)
- $169,583
Balance sheet and other
- Total assets, start of year
- $149,123,886
- Total assets, end of year
- $151,719,126
- Total liabilities, end of year
- $149,141,530
- Net assets, end of year
- $2,577,596
- Land, buildings and equipment
- $100,666,109
- Publicly traded securities
- $38,173,795
- Net assets without donor restrictions
- -$1,983,996
- Net assets with donor restrictions
- $4,561,592
- Gross unrelated business income
- -$90,342
- Gross receipts
- $43,328,666
- Employees
- 481
- Volunteers
- 232
- Year formed
- 1901
- State of legal domicile
- VA
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 March 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DR THOMAS WRIGHT | PRESIDENT/CEO Officer | 40 | $382,215 | $48,140 |
| SARAH THOMPSON | CORPORATE CONTROLLER Highest-paid employee | 40 | $180,129 | $19,951 |
| EMILY ENDERT | DIRECTOR OF HR Highest-paid employee | 40 | $164,317 | $31,576 |
| ERIK MAURITSEN | CFO (UNTIL 04/26/24) Officer | 40 | $174,609 | $17,271 |
| MICHAEL SCHEFF | DIRECTOR OF DINING Highest-paid employee | 40 | $161,100 | $18,704 |
| CARRIE DAVIS | ADMINISTRATOR Highest-paid employee | 40 | $159,884 | $19,103 |
| HAU VONG | DIRECTOR OF IT Highest-paid employee | 40 | $157,531 | $11,129 |
| JUANITA PARKS | CHIEF FINANCIAL OFFICER Officer | 40 | $86,382 | $0 |
| KYLE RUSSELL | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| RICHARD ADAMS | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| ROGER BOWERS | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| KELSEY BEAULIEU | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| EDWARD CLINGMAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MARJORIE COOKE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| RICHARD GIBBONS | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
8 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CHARLES GRAVES | BOARD MEMBER Trustee or director | 1 | $0 |
| NATALIE KENT | BOARD MEMBER Trustee or director | 1 | $0 |
| NATHAN KOTTKAMP | BOARD MEMBER Trustee or director | 1 | $0 |
| JOE O'CONNOR | BOARD MEMBER Trustee or director | 1 | $0 |
| LINDA PEARSON | BOARD MEMBER Trustee or director | 1 | $0 |
| MARIE PISECKI | BOARD MEMBER Trustee or director | 1 | $0 |
| MICHELE SATTERLUND | BOARD MEMBER Trustee or director | 1 | $0 |
| JENNIFER GENTRY | BOARD MEMBER (UNTIL 04/18/24) Trustee or director | 1 | $0 |
990 for the year ended March 31, 2024: 23 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DR THOMAS WRIGHT | PRESIDENT/CEO Officer | 40 | $371,501 | $47,664 |
| ERIK MAURITSEN | CHIEF FINANCIAL OFFICER Officer | 40 | $277,861 | $36,975 |
| JILL MCMILLIN | EX DIRECTOR HOME HEALTH (UNTIL 12/23) Key employee | 40 | $225,634 | $12,771 |
| NORMAN DAVIS | DIR BUSINESS DEVELOP (UNTIL 12/23) Highest-paid employee | 40 | $183,677 | $14,314 |
| EMILY ENDERT | DIRECTOR OF HR Highest-paid employee | 40 | $157,230 | $31,321 |
| THOMAS DIEHL | IT DIRECTOR (UNTIL 12/23) Highest-paid employee | 40 | $154,041 | $17,780 |
| MICHAEL SCHEFF | DIRECTOR OF DINING Highest-paid employee | 40 | $148,168 | $18,525 |
| CARRIE DAVIS | ADMINISTRATOR Highest-paid employee | 40 | $147,842 | $18,557 |
| BRANDON ARMOR | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| KYLE RUSSELL | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| ROGER BOWERS | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| JOE O'CONNOR | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JENNIFER GENTRY | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| CHARLES GRAVES | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| NATALIE KENT | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MICHELE SATTERLUND | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MELISSA BALL | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MARJORIE COOK | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| RICHARD ADAMS | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| ED CLINGMAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| KELSEY BEAULIEU | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| LINDA PEARSON | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JOHN SCHOLER | BOARD MEMBER (UNTIL 4/23) Trustee or director | 1 | $0 | $0 |
990 for the year ended March 31, 2023: 25 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DR THOMAS WRIGHT | PRESIDENT/CEO Officer | 40 | $383,523 | $32,336 |
| ERIK MAURITSEN | CHIEF FINANCIAL OFFICER Officer | 40 | $282,699 | $19,314 |
| JILL MCMILLIN | EX DIRECTOR HOME HEALTH Key employee | 40 | $181,999 | $9,178 |
| EMILY ENDERT | DIRECTOR OF HR Highest-paid employee | 40 | $160,384 | $29,793 |
| MICHAEL SCHEFF | DIRECTOR OF DINING Key employee | 40 | $161,107 | $17,765 |
| THOMAS DIEHL | IT DIRECTOR Highest-paid employee | 40 | $154,871 | $18,207 |
| CARRIE DAVIS | ADMINISTRATOR Key employee | 40 | $153,368 | $18,134 |
| ERIN MELTON | DIRECTOR OF MARKETING Highest-paid employee | 40 | $145,109 | $17,717 |
| SARAH THOMPSON | CORPORATE CONTROLLER Highest-paid employee | 40 | $145,163 | $17,242 |
| NORMAN DAVIS | DIRECTOR BUSINESS DEVELOPMENT Highest-paid employee | 40 | $145,275 | $13,262 |
| BRANDON ARMOR | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| KAREN COOK | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| DAVID W FULLER | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| RICHARD ADAMS | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MELISSA BALL | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| KELSEY BEAULIEU | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| ROGER BOWERS | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| ED CLINGMAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| CHARLES GRAVES | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| NATALIE KENT | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JOE O'CONNOR | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| LINDA PEARSON | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| KYLE RUSSELL | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MICHELE SATTERLUND | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JOHN SCHOLER | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 7090 COVENANT WOODS DR, MECHANICSVILLE, VA 23111-7025
- Principal officer (990 for 2024)
- DR THOMAS WRIGHT, 7090 COVENANT WOODS DRIVE, MECHANICSVILLE, VA 23111
- Signed the 990
- JUANITA PARKS, CFO
- Phone
- (804) 569-8000
- Website
- WWW.COVENANTWOODS.COM
- Return prepared by
- BAKER TILLY ADVISORY GROUP LP
Mission
IT IS THE MISSION OF COVENANT WOODS, A NOT-FOR-PROFIT CONTINUING CARE RETIREMENT COMMUNITY, TO PROVIDE OUR RESIDENTS WITH EXCEPTIONAL CARE, QUALITY OF LIFE, AND SECURITY AND COMFORT IN KEEPING WITH THE BENEVOLENT VISION OF OUR METHODIST AND PRESBYTERIAN FOUNDERS IN 1883.
Program accomplishments
- COVENANT WOODS (CW), A VIRGINIA NONSTOCK CORPORATION FOUNDED IN OCTOBER 1883, IS A NOT-FOR-PROFIT CONTINUING CARE RETIREMENT COMMUNITY IN MECHANICSVILLE, VA. CW CONSISTS OF 231 INDEPENDENT LIVING UNITS, 60 ASSISTED LIVING UNITS, AND 62 LICENSED NURSING BEDS. THE COST TO OPERATE CW DURING FY2025 WAS APPROXIMATELY $38 MILLION. CW IS A NOT-FOR-PROFIT SENIOR LIVING COMMUNITY OFFERING ACTIVE LIFESTYLES, PERSONAL FREEDOM IN DAILY LIFE, AND FINANCIAL AND PHYSICAL SECURITY WITHIN AN EXTENSIVE CONTINUUM OF CARE. LOCATED ON 90 PRIVATE ACRES, COVENANT WOODS' HANOVER COUNTY CAMPUS FACILITATES A BROAD WELLNESS PROGRAM INCLUDING EXTENSIVE WALKING TRAILS AND OUTDOOR ACTIVITY SPACES, AS WELL AS MUSICAL PERFORMANCES, LECTURES, CLASSES, AND SOCIAL GATHERINGS. "CONTINUED ON SCH. O"COVENANT WOODS PROVIDES MAINTENANCE-FREE LIVING WITH INTERIOR AND EXTERIOR MAINTENANCE, LAWN CARE AND SNOW REMOVAL, AND HOUSEKEEPING INCLUDED. NUMEROUS RESOURCES ARE AVAILABLE TO RESIDENTS INCLUDING FOUR DIFFERENT DINING VENUE CHOICES IN INDEPENDENT LIVING, PRIVATE DINING ROOMS, A FITNESS CENTER AND INDOOR SALTWATER SWIMMING POOL, GAME AND EVENT SPACES, BILLIARDS ROOM, ART STUDIO, GARDENING AREAS, WOOD WORKING AND POTTERY SHOPS, AND A PAVED WALKING TRAIL SURROUNDING A STOCKED POND. COVENANT WOODS OFFERS TRANSPORTATION SERVICES, 24-HOUR SECURITY AND A PERSONAL EMERGENCY ALERT SYSTEM, THERAPY, AND CLINIC SERVICES.Expenses $29,595,763 · grants $545,133 · revenue $35,575,110
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 March, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | March 31, 2026 | August 17, 2026 | Not on file |
| 2024 | March 31, 2025 | August 15, 2025 | 990 on file |
| 2023 | March 31, 2024 | August 15, 2024 | 990 on file |
IRS record
- EIN
- 54-0524902
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1942
- Accounting year ends
- March
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Health care (E91)
- Assets (IRS master file)
- $151,719,126
- Income (IRS master file)
- $43,328,666
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | March 2025 | $38,798,410 | $39,151,734 | $151,719,126 | IRS |
| 990-T | March 2025 | – | – | – | IRS |
| 990 | March 2024 | $39,083,157 | $46,360,111 | $149,123,886 | XML |
| 990-T | March 2024 | – | – | – | IRS |
| 990 | March 2023 | $36,760,268 | $43,566,569 | $151,782,906 | XML |
| 990-T | March 2023 | – | – | – | IRS |
| 990 | March 2022 | $38,635,107 | $42,541,914 | $166,902,923 | IRS |
| 990-T | March 2022 | – | – | – | IRS |
| 990 | March 2021 | – | – | – | IRS |
| 990-T | March 2021 | – | – | – | IRS |
| 990 | March 2020 | – | – | – | IRS |
| 990 | March 2019 | – | – | – | IRS |
| 990 | March 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 54-0524902).
Questions about COVENANT WOODS
- What is the EIN of COVENANT WOODS?
- The employer identification number (EIN) of COVENANT WOODS is 54-0524902.
- Is COVENANT WOODS tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1942.
- Are donations to COVENANT WOODS tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does COVENANT WOODS 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 WOODS due?
- The return for tax year 2025 (the year ending March 31, 2026) is due August 17, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did COVENANT WOODS last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended March 2025.
- Who is the principal officer of COVENANT WOODS?
- The 990 for the year ended March 31, 2025 names DR THOMAS WRIGHT.
- Who are the officers and directors of COVENANT WOODS?
- The 990 for the year ended March 31, 2025 lists 23 people; 8 received compensation from the organization, the highest $382,215 (DR THOMAS WRIGHT, PRESIDENT/CEO).
- How much revenue does COVENANT WOODS have?
- On its 990 for the year ended March 31, 2025 it reported revenue of $38,798,410, expenses of $39,151,734 and total assets of $151,719,126 at year end.
Other nonprofits in MECHANICSVILLE
- CORNERSTONE SUPPORT SERVICES EIN 26-2359268 · last filed 990 for 2025
- GRACE CHRISTIAN CHURCH MECHANICSVILLE INC EIN 54-1135179 · last filed 990 for 2024
- DYNAMO SOCCER CLUB EIN 76-0841338 · last filed 990 for 2025
- RESIDENTS ASSOCIATION OF COVENANT WOODS EIN 54-2058307 · last filed 990 for 2025
- MIDDLE RESOLUTION POLICY FOUNDATION INC EIN 92-0690634 · last filed 990-EZ for 2024
- SUB CULTURE INCORPORATED EIN 83-1244041 · last filed 990-EZ for 2024
- HANOVER COUNTY SHERIFFS OFFICE FOUNDATION INC EIN 26-4259459 · last filed 990 for 2024
- AMERICAN MARKETING ASSOCIATION INC EIN 54-1300307 · last filed 990-EZ for 2025