Covenant Community Capital Corporation
Public records show a registered, tax-exempt organization in good standing.
What it says it does
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.
- Income
- $2.6 million
- Spending
- $2.7 million
- Spent on programs
- 95%
- Reserves
- -0.8 months of spending
- Largest source of income
- fees for its services, 63%
- Employees
- 7
- Highest pay
- $161,383, president & ceo
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Weak: 48 out of 100. Higher than 19% of charities in its peer group (community improvement, $1m to $10m).
Reserves
0 of 35Spendable reserves are negative: it owes or has committed more than it holds.
Debt
10 of 20It owes 33% of what it owns.
Living within its means
8 of 15Spending exceeded income by 2% of income.
Income trend
15 of 15Income rose 14% on the year before.
Spending floor
15 of 1594% of spending went to programs and raising each dollar of donations cost 10 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 100 out of 100. Higher than 68% of charities in its peer group (community improvement, $1m to $10m).
Independent board
25 of 254 of 5 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (4)
- $1.4 million spent. Affordable 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.
- $643,660 spent. Family 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.
- $394,661 spent. Community 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.
- $50,751 spent. Bank 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.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since October 2000.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.