Virginia · Nonprofit
COVENANT WOODS
COVENANT WOODS (Virginia) receives grants from 7 organizations whose IRS filings report $597,041 to it, the largest being TR UW CLINTON L WILLIAMS ($391,786). 5 of them have funded it in more than one year.
- Revenue FY2025
- $39M
- Funders on record
- 7
- Grants received
- $597k
- Net assets
- $2.6M
What Covenant Woods does
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.
As stated on its FY2025 Form 990.
Programs
On its FY2023 return the organization reported a significant change in how it conducts a program.
In december 2023, advance care (home health agency) and advance care hospice ceased operations.
Its own explanation, from Schedule O of that return (Part III, line 3).
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 fy2024 was approximately $36 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…
$32,106,592 spentof which $434,371 as grants$35,721,570 earned by the program100% of program spendingIn january 2020, Covenant Woods acquired advance care llc, a home health agency located in chesterfield county. Advance care serves the home health needs for individuals within a 50-mile radius of its office location, which includes all of the metro richmond area. They are both medicare and medicaid certified and are accredited by achc. Their services are also offered to residents of Covenant Woods who qualify and request these services. In december 2023, advance care ceased operations.
In september 2020, Covenant Woods created advance care hospice llc, a hospice agency located in chesterfield county. Advance care hospice will serve the hospice needs for individuals within a 50-mile radius of its office location, which includes all of the metro richmond area. In december 2023, advance care hospice ceased operations.
The 3 programs described on its FY2023 Form 990, listed largest first by expense. Program spending in total: $32,106,592.
The organization over time
Each line starts at 100 in 2017, so what you read is the shape rather than the size: 150 means half as much again as 2017, 50 means half. The number beside each label in the key is where it ended. The shaded band is where the middle 50% of its peers' revenue would sit, given their growth.
Balance sheet
Total assets and total liabilities at each year end, in dollars. The largest one-year move in total assets was 2022 to 2023, from $167M to $152M (−9%).
How it's funded, over time
Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.
Government-grant reliance: 2021 8%. Grants only. Government contracts and fees sit inside program revenue.
1% of COVENANT WOODS’s revenue is contributions — about as donation-reliant as the typical peer (7% for the typical peer).
Surplus & reserves
Operating surplus or deficit each year, and months of liquidity in hand. 7 of the last 9 reported years ran a deficit.
reserve
Leadership and staff
The officers, directors, trustees and key employees listed on each return. Joined and no longer listed compare each filing with the year before, matching people by surname and first initial; a year after a gap, or a roster under three people, has no comparison.
Chief executive
Dr Thomas Wright
President/CEO
As listed on its FY2025 Form 990.
The chief executive listed changed between the FY2021 and FY2022, and between the FY2022 and FY2023 filings.
Who funds it, year by year
2017 → 2023: the base broadened from 1 funder to 5 funders, grant income rose $500 → $75k.
4 of 7 of your funders are donor-advised or pass-through sponsors (tagged DAF) — 15% of grant dollars received. That money is really individual donors directing a sponsor; the institutions to cultivate are the non-DAF funders.
From the IRS filings of COVENANT WOODS’s funders (the co-funder graph). Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How concentrated its funding is
COVENANT WOODS leans on a few funders — its largest provides 66% of grant income and the top three 92%; half comes from just 1 funder.
the vertical line marks half of all grant income — 1 funder to its left
Largest funder’s share by year: 2017 100% · 2018 97% · 2019 79% · 2020 85% · 2021 58% · 2022 50% · 2023 70% — diversifying over time.
“Effective funders” = inverse Herfindahl index (1 / Σ shareᵢ²) — the number of equal-sized funders that would give the same concentration. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Where its funders are
COVENANT WOODS draws 99% of its grant income from funders outside Virginia, across 2 states in all.
In-state vs out-of-state, by year
Funder states come from each funder’s own filing. $88k arriving through sponsors registered in 4 states is excluded from the map and the split above: a sponsor holds money on a donor’s behalf, so its registered address would place those dollars somewhere no donor need ever have been. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Against its field
COVENANT WOODS's funding base is broadening — from 1 funders to 5 as grant income climbed.
this organization peer median middle 50% of peers· 2,843 health nonprofits $10M–$100M, FY2025
Organizations like COVENANT WOODS
Organizations whose mission and program text most resemble this one, by semantic similarity over every organization in the US filings — the closest peers, and often the clearest route to shared or prospective funders.
In Virginia
Nationally
Read directly from this organization’s own Form 990, as neutral context.
Where the money goes
76% of spending goes to programs.
Governance
Public support
95%
Share of support from the public (Schedule A) — the basis for its public-charity status.
Footprint & structure
Files a return copy in 1 state
Part of a family of 3 related entities
- Advance Care LLC · disregarded
- Advance Care Hospice LLC · disregarded
- Parker & Gregg LLC · disregarded
Screen this organization
A dated, signed PDF of the compliance screen for COVENANT WOODS: IRS status (Business Master File, Publication 78, auto-revocation), the OFAC sanctions lists, the Internal Revenue Bulletin, and California registration, with the Rev. Proc. 2018-32 §8.01 reliance elements stated element by element. Generated from the current files at the moment you download it.
Screens are triage, not determinations; a source that cannot be read reports not screened, never clear. Screen this nonprofit · How the screen works · on the API as GET /api/screening/{ein}?format=pdf
Questions and answers
- Who funds COVENANT WOODS?
- COVENANT WOODS (Virginia) receives grants from 7 organizations whose IRS filings report $597,041 to it, the largest being TR UW CLINTON L WILLIAMS ($391,786). 5 of them have funded it in more than one year.
- How many funders does COVENANT WOODS have?
- IRS filings report 7 organizations giving $597,041 in grants to COVENANT WOODS, 5 of which have funded it in more than one year.
- Who is the largest funder of COVENANT WOODS?
- TR UW CLINTON L WILLIAMS is the largest funder on record, with $391,786 in grants. The full list of funders is on this page.
- How can an organization like COVENANT WOODS find more funders?
- Start with the funders already giving here, then look at the foundations that back similar organizations in Virginia. The funding by cause and by state pages list the largest funders for a given area and how to approach them.
Play a game about who funds Covenant Woods →
These figures are read directly from IRS Form 990 / 990-PF e-file XML: this organization’s own return for FY2025 (financials across 2017–2025), and the filings of 7 funders that report grants to it. “On record” means captured in the filings we have parsed — a funder that does not e-file, or whose grant detail is not itemized, will not appear. Filings run roughly 12–24 months behind. Trends on this page end at FY2023, the last fiscal year that has finished arriving; later years are shown and marked, and move no figure. Data on this page was exported October 14, 2026. What this page cannot tell you · view filing