Covenant Advisers Fund
Covenant Advisers Fund is a private foundation based in Wilmington, Delaware. Its 2024 filing reports grants to charitable organizations and individuals, including grants for general and unrestricted support, hardship assistance, and short-term emergency assistance.
Covenant Advisers Fund at a glance
In short: Covenant Advisers Fund gave $189K across 16 grants in 2024 (avg $12K), mostly in South Dakota. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $188,505
- +138.0% vs 2023
- Grants made (2024)
- 16
- +77.8% vs 2023
- Average grant
- $11,782
- +33.9% vs 2023
- Median grant
- $3,753
- Total assets
- $7,009,328
- +4.6% vs 2023
- Primary geography
- South Dakota (53% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026.
How to apply to Covenant Advisers Fund
- Accepts unsolicited proposals
- No
- How to Apply
-
The fund does not accept unsolicited requests and makes contributions only to preselected charitable organizations.
- Contact
Mailing address: Foundation Source 501 Silverside Rd, Wilmington, DE 19809-1377
Phone: (800) 839-1754
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Covenant Advisers Fund funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Asone Ministries ($100K). Together the top 10 received $171K.
Grant Size Distribution
27 grants across all recorded years
The most common grant size was under $50K: 26 grants of 27 (96%).
Geographic Focus
Where this funder awards grants
The 2024 grants went to recipients in multiple states. South Dakota accounted for 53% of grant dollars and Alabama for 25%; Maine, California, and Texas each accounted for 3%.
Grant Distribution by State
Share of 2024 grant dollars across all 16 itemized grants.
States
Cities
How Covenant Advisers Fund gives
- 17% of 2024 grantees were also funded in 2023. Method
- In 2024 it paid out 107% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2022 to 2024, annual grant giving ranged from $7K (2022) to $189K (2024). In 2024 it made 16 grants totaling $189K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Asone Ministries Sioux Falls, SD | AsOne Africa fund | $100,000 |
| Holos Hope NFP Florence, AL | General & Unrestricted | $32,000 |
| A DeRaps Windsor, ME | Hardship Assistance Grant | $6,500 |
| L Carter Arab, AL | Hardship Assistance Grant | $6,500 |
| Nightlight Christian Adoptions Santa Ana, CA | General & Unrestricted | $6,500 |
| Global Adoption Services Inc Bel Air, MD | General & Unrestricted | $4,500 |
| Missionary Church Investment Foundation Fort Wayne, IN | General & Unrestricted | $4,500 |
| P Nunley Cache, OK | Short-term Emergency Assistance Grant | $4,500 |
| A Martin Lott, TX | Short-term Emergency Assistance Grant | $3,005 |
| A Better Way Education and Support Sugarcreek, OH | General & Unrestricted | $3,000 |
Ready to take the next step with Covenant Advisers Fund?
Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $7,009,328 | $686,267 | $375,635 | $188,505 | 16 | $336,028 | $366,584 | $313,695 |
| 2023 | $6,699,652 | $2,138,828 | $225,572 | $79,195 | 9 | $217,829 | $308,828 | $246,241 |
| 2022 | $4,787,698 | $806,679 | $109,730 | $6,802 | 2 | $279,851 | $206,679 | $207,043 |
| 2021 | $4,088,490 | $4,088,490 | — | — | — | — | $1 | $666 |
Under IRS private-foundation payout rules, Covenant Advisers Fund reported a distributable amount of $314K for 2024 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
No mission statement for the fund is provided. Its 2024 grants include support for organizations whose own stated missions address areas such as education, health, agriculture, adoption services, community wellness, missionary support, and recovery from addiction. For example, AsOne Ministries describes its work as making disciples and creating sustainable solutions in education, enterprise, health, and agriculture to address poverty in rural underserved communities. Global Adoption Services describes itself as a Christian nonprofit providing pre- and post-adoption services for international and domestic adoptions.
Grantmaking
In 2024, the fund reported 16 grants totaling $188,505. Grant amounts ranged from $2,500 to $100,000, with a median grant of $3,752.
The largest reported grants included $100,000 to AsOne Ministries for its AsOne Africa fund and $32,000 to Holos Hope NFP for general and unrestricted support. Other grants included $6,500 each to two individuals for hardship assistance, and $6,500 to Nightlight Christian Adoptions for general and unrestricted support. The fund also gave $4,500 each to Global Adoption Services and Missionary Church Investment Foundation; two short-term emergency assistance grants to individuals ($4,500 and $3,005); and $3,000 each to A Better Way Education and Support, Commission to Every Nation, and Garden Foundation. Lifesource Inc. also reports receiving $3,000 in 2024; it describes its work as residential recovery for people in the criminal justice system who struggle with addiction.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Eliyan Petkov and Velin Krassimirov Tzanov as directors. Timothy Joel Yarbrough is listed as director, president, secretary, and treasurer.
Covenant Advisers Fund is led by Timothy Joel Yarbrough, Director, President, Secretary & Treasurer on every filing since 2021; 1 of 3 officers listed in 2024 is compensated.
Officers on the 2024 filing
Timothy Joel Yarbrough
Director, President, Secretary & Treasurer
On filings since 2021
30 hrs/week
$50K (2022) → $75K (2024)
Eliyan Petkov
Director
On filings since 2021
1 hr/week
No compensation reported
Velin Krassimirov Tzanov
Director
On filings since 2021
1 hr/week
No compensation reported
Data from IRS Form 990 filings, 2021–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $75K, to Timothy Joel Yarbrough (Dir, Pres, Sec, Treas).
Frequently asked questions about Covenant Advisers Fund
How much does Covenant Advisers Fund give each year?
Covenant Advisers Fund gave $189K across 16 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $79K across 9 grants.
What is Covenant Advisers Fund's typical grant size?
Covenant Advisers Fund's median grant in 2024 was $3,753, and its average grant was $11,782, across 16 grants on its 2024 IRS Form 990-PF.
Where does Covenant Advisers Fund give grants?
Covenant Advisers Fund gives mostly in South Dakota: 53% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest state was Alabama (25%).
Does Covenant Advisers Fund give general operating support?
Yes: 69% of Covenant Advisers Fund's 2024 grants with a stated purpose (11 of 16) were for general or operating support, per its 2024 IRS Form 990-PF.
Who are Covenant Advisers Fund's largest grantees?
Covenant Advisers Fund's largest 2024 grantees include Asone Ministries ($100,000), Holos Hope NFP ($32,000) and A DeRaps ($6,500), according to its 2024 IRS Form 990-PF. Together they received 73% of its itemized 2024 grant dollars.
How large is Covenant Advisers Fund?
Covenant Advisers Fund reported $7.0M in total assets on its 2024 IRS Form 990-PF. It paid out $336K in qualifying distributions that year, against a required minimum of $314K (roughly 5% of its investment assets).
What does Covenant Advisers Fund fund?
No mission statement for the fund is provided. Its 2024 grants include support for organizations whose own stated missions address areas such as education, health, agriculture, adoption services, community wellness, missionary support, and recovery from addiction. See mission & focus areas ↑
How do I apply for a grant from Covenant Advisers Fund?
The fund does not accept unsolicited requests and makes contributions only to preselected charitable organizations. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Covenant Advisers Fund's EIN?
Covenant Advisers Fund's EIN (Employer Identification Number) is 87-4052507. IRS Form 990 filing data is available on this page for 2021–2024.
Does Covenant Advisers Fund accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(2)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2024 (received by the IRS August 18, 2026)
- IRS filings on file for fiscal years 2021–2023
Live grants for the work Covenant Advisers Fund funds
Philanthropy, Voluntarism & Grantmaking Open opportunities, soonest deadline first.
- Nixa Affiliate Grantmaking Program Up to US $10,000 · Due October 19, 2026
- Community and School Grants $28,000 total pool; 10-15 grants expected · Due October 19, 2026
- Mary Pinola/Crescenta Valley Chamber Education Fund $500 - $5,000 for ongoing programs; up to $15,000 for Strategic Initiative Grants · Due October 19, 2026
Explore Open Grants
Browse active grant opportunities in Covenant Advisers Fund's focus areas in our free grants database
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Cite this profile
Grantable. (2026). Covenant Advisers Fund funder profile. GrantGraph. Retrieved October 18, 2026, from https://grantable.co/funders/covenant-advisers-fund-morg_c66dd3ff2537438496cc360313329ed0
BibTeX
@misc{grantable_874052507_2026,
author = {{Grantable}},
title = {{Covenant Advisers Fund funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/covenant-advisers-fund-morg_c66dd3ff2537438496cc360313329ed0},
note = {Accessed 2026-10-18. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Covenant Advisers Fund's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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