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.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$245.0M
+8.8% YoY
Annual Giving
$241K
Grant Count
3
Avg Grant Size
$80K
About Covenant Medical Center Inc
Based on IRS filings
Covenant Medical Center Inc is a nonprofit organization focused on Health, based in WATERLOO, IA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $245.0M in total assets. In 2024, it awarded 3 grants totaling $241K. Net investment income was $1.2M.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $244,970,247 | $225,227,682 | $232,340,664 |
| Revenue | $401,603,286 | $328,841,980 | $319,111,884 |
| Expenses | $375,191,522 | $335,820,032 | $335,364,281 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $1,204,706 | $805,635 | $-2,050,384 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 3 recipients in 2024
Grant Size Distribution
3 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Covenant Foundation Inc ($223,811), Cedar Falls School Foundation ($10,000), University of Northern Iowa Foundation ($7,000).
| Recipient | Purpose | Amount |
|---|---|---|
| CEDAR FALLS SCHOOL FOUNDATION CEDAR FALLS, IA | STUDENT AND STAFF OPPORTUNITIES | $10,000 |
| UNIVERSITY OF NORTHERN IOWA FOUNDATION CEDAR FALLS, IA | HEALTH IMPROVEMENT | $7,000 |
| COVENANT FOUNDATION INC WATERLOO, IA | PROGRAM SUPPORT | $223,811 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| JACK DUSENBERY | FORMER OFFICER | — | $764,091 |
| AHSAN MAQSOOD MD | PHYSICIAN - CARDIOLOGY | 50 | $1,666,715 |
| RICHARD NAYLOR DO | PHYSICIAN - ORTHOPEDICS | 50 | $1,605,978 |
| VICTOR MUJICA MD | PHYSICIAN - GASTROENTEROLOGY | 50 | $1,275,186 |
| JASON STANFORD DO | PHYSICIAN - ORTHOPEDICS | 50 | $1,165,853 |
| GARY KNUDSON MD | PHYSICIAN - ORTHOPEDICS | 50 | $1,138,987 |
| MICHAEL WEGNER | DIR 8-12/23; PRES MERCY IA THR 12/23 | 1 | — |
| MATTHEW SOJKA MD | VP, MEDICAL AFFAIRS | 40 | $501,683 |
| RACHELLE MAKINDE MD | DIRECTOR; PHYSICIAN | 47 | $464,239 |
| BRIAN BURNETT MD | DIRECTOR; PHYSICIAN | 47 | $394,031 |
| RYAN MEYER | COO | 40 | $125,643 |
| KELLY RICHARDS | CHIEF NURSING OFFICER | 40 | $337,146 |
| TIMOTHY HUBER | ASSISTANT TREASURER; VP OF FINANCE | 40 | $312,625 |
| NANCY SCHAEFER | ASSISTANT SECRETARY; EXEC ASSISTANT | 37 | $68,374 |
| DAVID DEAVER | DIRECTOR; CHAIR | 1 | — |
| SANDRA BENAK | DIRECTOR | 1 | — |
| TIMOTHY BOETTGER | DIRECTOR | 1 | — |
| ALAN KRUGER | DIRECTOR | 1 | — |
| CAROL TOUSLEY | DIRECTOR | 1 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Covenant Medical Center Inc?
Covenant Medical Center Inc is a nonprofit organization focused on Health, based in WATERLOO, IA. It holds $245.0M in total assets as of 2024.
How large is Covenant Medical Center Inc?
As of 2024, Covenant Medical Center Inc holds $245.0M in total assets with $401.6M in annual revenue. It awarded 3 grants totaling $241K in 2024.
Where does Covenant Medical Center Inc operate?
Covenant Medical Center Inc has awarded grants in Iowa.
What size grants does Covenant Medical Center Inc award?
In 2024, Covenant Medical Center Inc awarded 3 grants totaling $241K — an average of about $80K per grant, based on its IRS Form 990 filings.
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 2020–2024.
Explore Open Grants
Browse active grant opportunities in Covenant Medical Center Inc's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.