Covenant Medical Center Inc
We, Covenant Medical Center and trinity health, serve together in the spirit of the gospel as a compassionate and transforming healing presence within our communities. Covenant Medical Center is a member of trinity health.
Covenant Medical Center Inc at a glance
In short: Covenant Medical Center Inc gave $252K across 3 grants in 2025 (avg $84K), mostly in Iowa. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $252,191
- +4.7% vs 2024
- Grants made (2025)
- 3
- +0.0% vs 2024
- Average grant
- $84,064
- +4.7% vs 2024
- Median grant
- $23,802
- Total assets
- $443,097,341
- +80.9% vs 2024
- Primary geography
- Iowa (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated September 2026.
Who Covenant Medical Center Inc funds
How this funder distributes its grants
Top Recipients
Top 3 recipients in 2025
The largest 2025 recipient was Covenant Foundation Inc ($221K). Together the top 3 received $252K.
Grant Size Distribution
8 grants across all recorded years
The most common grant size was under $50K: 6 grants of 8 (75%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 3 itemized grants.
States
Cities
How Covenant Medical Center Inc gives
- Giving grew 3609% from 2022 to 2025. Method
From the foundation's IRS Form 990 filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $1K (2023) to $252K (2025). In 2025 it made 3 grants totaling $252K.
Hatched bars: grants paid as reported on the IRS filing, which lists no individual grants for that year.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Covenant Foundation Inc Waterloo, IA | Program Support | $221,389 |
| Northeast Iowa Food Bank Waterloo, IA | Program Support | $23,802 |
| University of Northern Iowa Foundation Cedar Falls, IA | Support Veggie Voucher Program | $7,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $443,097,341 | $436,425,740 | $406,563,697 | $252,191 | 3 | $2,702,608 |
| 2024 | $244,970,247 | $401,603,286 | $375,191,522 | $240,811 | 3 | $1,204,706 |
| 2023 | $225,227,682 | $328,841,980 | $335,820,032 | $1,251 | Total only | $805,635 |
| 2022 | $232,340,664 | $319,111,884 | $335,364,281 | $6,800 | 1 | $-2,050,384 |
| 2021 | $267,916,696 | $320,935,164 | $307,341,404 | $8,000 | 1 | $5,386,482 |
| 2020 | $239,485,789 | $309,717,984 | $298,323,347 | $77,966 | 1 | $-747,805 |
| 2019 | $208,407,389 | $306,203,478 | $301,569,303 | $10,000 | 1 | $1,190,261 |
"Total only": grants paid as reported on the IRS filing, which lists no individual grants for that year.
About Covenant Medical Center Inc
Based on IRS filings
Covenant Medical Center Inc is a public charity focused on Health, based in Waterloo, IA. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $443.1M in total assets. In 2025, it awarded 3 grants totaling $252K. Net investment income was $2.7M.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
Covenant Medical Center Inc is led by Rachelle Makinde MD, Director & V Chair since 2025 (on filings since 2022); 12 of 20 officers listed in 2025 are compensated.
Officers on the 2025 filing
Rachelle Makinde MD
Director & V Chair
Director & Physician Employee → Director & Physician, 2023
Director & Physician → Director & V Chair, 2025
On filings since 2022
47 hrs/week
$455K (2022) → $489K (2025)
David Deaver
Director & Chair
Vice Chair → Chair, 2021
Chair → Director & Chair, 2023
On filings since 2019
1 hr/week
No compensation reported
Brian Burnett MD
Director & Phys - Family Medicine
Director & Physician Employee → Director & Physician, 2023
Director & Physician → Director & Phys - Family Medicine, 2025
On filings since 2021
47 hrs/week
$343K (2021) → $419K (2025)
Alan Kruger
Director
On filings since 2020
1 hr/week
No compensation reported
Carol Tousley
Director
On filings since 2021
1 hr/week
No compensation reported
Sandra Benak
Director
On filings since 2023
1 hr/week
No compensation reported
Bryan Burton
Director
New on the 2025 filing
1 hr/week
No compensation reported
Kurt Andersen MD
Director
New on the 2025 filing
1 hr/week
No compensation reported
Nancy Kertz
Director
New on the 2025 filing
1 hr/week
No compensation reported
Ahsan Maqsood MD
Physician - Cardiology
Physician Employee → Physician - Cardiology, 2023
On filings since 2019
50 hrs/week
$1.3M (2019) → $1.8M (2025)
Gary Knudson MD
Physician - Orthopedics
Physician Employee → Physician - Orthopedics, 2023
On filings since 2019
50 hrs/week
$969K (2019) → $1.3M (2025)
Jack Dusenbery
Former Officer
Director, President, Secretary & Treasurer → Director, President & Mercyone Ne Ia Thr, 2023
Director, President & Mercyone Ne Ia Thr → Former Officer, 2024
On filings since 2019
$584K (2019) → $706K (2025)
Jason Stanford DO
Physician - Orthopedics
Physician Employee → Physician - Orthopedics, 2024
On filings since 2019
50 hrs/week
$926K (2019) → $1.3M (2025)
Matthew Sojka MD
Vice President & Medical Affairs
Vice President Medical Affairs → Vice President & Medical Affairs, 2023
On filings since 2019
40 hrs/week
$281K (2019) → $81K (2025)
Nancy Schaefer
Assistant Secretary & Executive Assistant
On filings since 2019
37 hrs/week
$59K (2019) → $72K (2025)
Richard Naylor DO
Physician - Orthopedics
Physician Employee → Physician - Orthopedics, 2023
On filings since 2019
50 hrs/week
$1.6M (2019) → $1.8M (2025)
Ryan Meyer
COO
Administrator Directr & Former Key Empl → Vice President Site Administrator, 2022
Vice President Site Administrator → COO, 2024
On filings since 2019
40 hrs/week
$174K (2019) → $0 (2025)
Timothy Huber
Assistant Treasurer & Vice President of Finance
Form Assistant Treasurer & Vice President Finance → Assistant Treasurer & Vice President Finance, 2021
Assistant Treasurer & Vice President Finance → Assistant Treasurer & Vice President of Finance, 2023
On filings since 2019
40 hrs/week
$255K (2019) → $341K (2025)
Victor Mujica MD
Physician - Gastroenterology
Physician Employee → Physician - Gastroenterology, 2023
On filings since 2020
50 hrs/week
$1.1M (2020) → $1.4M (2025)
Kelly Richards
Chief Nursing Officer
Cno → Chief Nursing Officer, 2023
On filings since 2021
40 hrs/week
$214K (2021) → $59K (2025)
Former officers (20)
- Former: Michael Wegner (2024) — Director & President Mercy Ia Thr
- Former: Timothy Boettger (2024) — Director
- Former: Casey McLaughlin (2019–2023) — Director
- Former: Gregory Schmitz (2019–2023) — Director
- Former: Jeffrey Halverson (2019–2023) — Frmr Ke & Vice President Phys Network Thr
- Former: Shirley Dunlap (2019–2023) — Director
- Former: Sangeeta Shah MD (2020–2023) — Physician - Neurology
- Former: Robert Ritz (2023) — Director & CEO Mercy Health Network
- Former: Tim Boettger (2023) — Director
- Former: Bob Ritz (2019–2022) — Director, Executive Offici & Mhn President
- Former: Luis Avila MD (2019–2022) — Director & Phys. Emp
- Former: James Lee (2021–2022) — Director
- Former: Christopher Eagan (2019–2021) — Physician Employee
- Former: Keyah Levy (2019–2021) — Director
- Former: Noreen Hermansen (2019–2021) — Director
- Former: Paul Stapella (2019–2021) — Director
- Former: Doug Davenport (2019–2020) — Assistant Treasurer - CFO
- Former: Joan Lowe (2019–2020) — Director
- Former: Richard Valente MD (2019–2020) — Director & Physician Employee
- Former: Kenton Nelson (2019) — Director
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $1.8M, to Richard Naylor Do (Physician - Orthopedics). 12 officers or directors reported compensation on that filing.
Frequently asked questions about Covenant Medical Center Inc
How much does Covenant Medical Center Inc give each year?
Covenant Medical Center Inc gave $252K across 3 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $241K across 3 grants.
What is Covenant Medical Center Inc's typical grant size?
Covenant Medical Center Inc's median grant in 2025 was $23,802, and its average grant was $84,064, across 3 grants on its 2025 IRS Form 990.
Where does Covenant Medical Center Inc give grants?
Covenant Medical Center Inc gives mostly in Iowa: 100% of the grant dollars itemized on its 2025 IRS Form 990 went to recipients there. The most frequent recipient cities were Waterloo, IA (2 grants).
Does Covenant Medical Center Inc give general operating support?
Not in 2025: none of the 3 grants with a stated purpose on Covenant Medical Center Inc's 2025 IRS Form 990 were described as general or operating support.
How large is Covenant Medical Center Inc?
Covenant Medical Center Inc reported $443.1M in total assets on its 2025 IRS Form 990. Its revenue that year was $436.4M.
What is Covenant Medical Center Inc?
Covenant Medical Center Inc is a public charity focused on Health, based in Waterloo, IA. It holds $443.1M in total assets as of 2025.
What is Covenant Medical Center Inc's EIN?
Covenant Medical Center Inc's EIN (Employer Identification Number) is 42-1264647. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(7)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2024 (received by the IRS May 14, 2025)
- Added Form 990 for fiscal year 2019 (received by the IRS June 22, 2020)
- Updated Form 990 for fiscal year 2020 (received by the IRS May 12, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS May 16, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS May 11, 2023)
- Added Form 990 for fiscal year 2025 (received by the IRS May 12, 2026)
- Updated Form 990 for fiscal year 2023 (received by the IRS May 14, 2024)
Explore Open Grants
Browse active grant opportunities in Covenant Medical Center Inc's focus areas in our free grants database
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Funders with grantees in common, and similar funders in Iowa
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Covenant Medical Center Inc down — hundreds of funders to go?