Covenant Foundation
Public foundation · Edmonton, Alberta · BN 125868125RR0001 · Foundations · website
Source: T3010 return, FPE 2024-03-31. Split of total expenditures ($9,935,163) as filed with the CRA.
Covenant Foundation is a public foundation based in Edmonton, Alberta, classified by the CRA under foundations. In its fiscal year ending March 31, 2024, it reported $9.4M in revenue and $9.9M in expenditures.
Its funding that year was roughly 19% from donations, 14% from other charities. In 2024, 38 other registered charities reported granting it a combined $1.4M.
Compared with 1,554 grantmaking charities of similar size, its share of spending on mission — charitable programs plus grants to other charities — ranked above 2% of peers. Its fundraising cost per donated dollar was higher than 96% of that peer group. Its highest-paid position fell in the $200,000–249,999 range. The charity reported 18 permanent full-time positions.
As a grantmaker, it reported gifts to 3 qualified donees totalling $1.7M in 2024, the largest being $1.4M to Covenant Health. Its filed list of directors and trustees shows 12 names.
In its own words
The foundation functions as the official fundraising arm for twenty one acute and long term care sites in alberta. These facilities are included in the operatons of covenant health covenant living and covenantcare. The foundation supports capital equipment programs projects and services related to acute and continuing care at each of these sites across alberta.
Ongoing-program description from its T3010 filing, verbatim.
The ledger, 2020–2024
| Year | Revenue | Spending | Programs | Fundraising | Gifts out | Net assets |
|---|---|---|---|---|---|---|
| 2024 | $9.4M | $9.9M | $60K | $6.3M | $1.7M | $37.4M |
| 2023 | $9.7M | $9.9M | — | — | $2.3M | $35.1M |
| 2022 | $11M | $9.8M | $2,437 | $5.9M | $2.6M | $37.9M |
| 2021 | $10.2M | $8.7M | $18K | $5.8M | $1.7M | $36.3M |
| 2020 | $9.2M | $9.2M | $12K | $5.9M | $2.1M | $29.1M |
Revenue printed in red where the year ran a deficit. Fiscal years by period end.
Money between charities, 2024
Granted $1.7M to 3 qualified donees:
- Covenant Health$1.4M
- Covenant Care$181K
- Covenant Living$51K
Received $1.4M from 38 charities:
- The Royal Alexandra Hospital Foundation$377K
- Indigenous Reconciliation Fund$182K
- Canadahelps Canadon$179K
- Canadahelps Canadon$179K
- The Edmonton Civic Employees Charitable Assistance Fund$100K
- The Edmonton Community Foundation Priv Act$68K
- Fondation Sandra Schmirler Foundation$57K
- Charitable Gift Funds Canada Foundation$52K
- St. Albert Sturgeon Hospice Association$37K
- Diana and François Poirier Foundation Fondation Diana et François Poirier$33K
- The Alberta Knights of Columbus Charitable Foundation$31K
- Buchanan Family Foundation$28K
- Yuill Family Foundation$25K
- Waterloo Region Community Foundation$15K
- Banff Canmore Community Foundation$13K
- Strategic Charitable Giving Foundation$10K
- Melton Foundation$10K
- Community Foundation of Medicine Hat and Southeastern Alberta$7,460
- Canadian Online Giving Foundation$6,834
- F. K. Morrow Foundation$6,000
- The Connor Clark & Lunn Foundation$5,000
- ATB Investor Services Foundation$2,629
- ATB Investor Services Foundation$2,500
- Abc Benefits Corporation Foundation$2,500
- Aqueduct Foundation$2,200
As reported on the donors’ own T3010 qualified-donee schedules.
What it pays
Its ten highest-paid positions, by band:
- $200,000–249,9991 position
- $120,000–159,9991 position
- $80,000–119,9995 positions
- $40,000–79,9993 positions
- Permanent full-time positions18
- Total compensation, all staff$1.5M
Schedule 3 of its 2024 return. The CRA discloses bands, not names or exact salaries.
Directors & trustees (2024)
Chuck Sanders (director); Jacob Coonan (director); Rob Christie (director); Carol Moen (director); Ben Horcica (director); Carole Karbonik (board chair); Matt Colpitts (director); Charlene Butler (director); Anurag Shourie (director); Dan Bokenfohr (director); Tim Spelliscy (director); Rob Cole (director).
As listed on its 2024 return.
Check the source
Every figure on this page is from Covenant Foundation’s own T3010 filings, published by the Canada Revenue Agency. Verify against the CRA’s charities listing (search BN 125868125RR0001), or read how we compute the receipt.