The Covalent Foundation
The Covalent Foundation is a private foundation, based in Reston, VA. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $3.9M in total assets. In 2025, it awarded 6 grants totaling $913K. Net investment income was $47K.
The Covalent Foundation at a glance
In short: The Covalent Foundation gave $913K across 6 grants in 2025 (avg $152K), mostly in Texas. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $913,086
- -13.7% vs 2024
- Grants made (2025)
- 6
- +0.0% vs 2024
- Average grant
- $152,181
- -13.7% vs 2024
- Median grant
- $97,500
- Total assets
- $3,893,827
- -19.6% vs 2024
- Primary geography
- Texas (93% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who The Covalent Foundation funds
How this funder distributes its grants
Top Recipients
Top 6 recipients in 2025
The largest 2025 recipient was Ascension Seton Foundation ($506K). Together the top 6 received $913K.
Grant Size Distribution
34 grants across all recorded years
The most common grant size was under $50K: 10 grants of 34 (29%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 6 itemized grants.
Cities
How The Covalent Foundation gives
- Giving fell 45% from 2022 to 2025. Method
- In 2025 it paid out 451% of its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF 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 $913K (2025) to $1.7M (2019). In 2025 it made 6 grants totaling $913K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Ascension Seton Foundation Austin, TX | Central Texas community health centers and human trafficking prevention hub | $505,516 |
| Dell Children's Medical Center Foundation Austin, TX | To Support Dell Children's Medical Center Emergency Department | $152,570 |
| Texas Advocacy Project Austin, TX | General Support | $100,000 |
| CASA of Travis County Austin, TX | To support casa of Travis county promising futures program | $95,000 |
| Breakthrough T1D New York, NY | Support jdrf outreach to latinx communities in central Texas and psychosocial research in central Texas. | $50,000 |
| Rangerace Construction Camp Foundation Reston, VA | General Support | $10,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $3,893,827 | $106,911 | $1,057,566 | $913,086 | 6 | $975,483 | $46,531 | $216,246 |
| 2024 | $4,844,482 | $818,679 | $1,267,945 | $1,057,783 | 6 | $1,183,471 | $746,555 | $242,765 |
| 2023 | $5,293,748 | $1,950,043 | $1,721,040 | $1,389,530 | 7 | $1,636,090 | $149,141 | $301,744 |
| 2022 | $5,064,745 | $2,007,227 | $2,027,645 | $1,652,891 | 7 | $1,933,091 | $124,422 | $242,097 |
| 2021 | $5,085,163 | $927,005 | $1,996,825 | $1,606,428 | 8 | $1,893,662 | $835,559 | $264,843 |
| 2020 | $6,154,983 | $307,769 | $1,350,814 | $996,560 | 5 | — | $236,456 | $312,745 |
| 2019 | $7,198,028 | $89,261 | $2,092,398 | $1,694,678 | 8 | — | $159,663 | $383,387 |
Under IRS private-foundation payout rules, The Covalent Foundation reported a distributable amount of $216K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
The Covalent Foundation is led by Mark W. McKenzie, President since 2025 (on filings since 2019); 1 of 3 officers listed in 2025 is compensated.
Officers on the 2025 filing
Mark W. McKenzie
President
President & Director → President, 2025
On filings since 2019
1 hr/week
No compensation reported
Jessica L. Ziehr
Treasurer & Vice President
Vice President & Director → Treasurer & Vice President, 2025
On filings since 2019
1 hr/week
$70K (2019) → $0 (2025)
Julia C. McKenzie
Secretary & Vice President
Vice President & Director → Secretary & Vice President, 2025
On filings since 2019
30 hrs/week
$87K (2019) → $6K (2025)
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 $6K, to Julia C McKenzie (Secretary/VP).
Frequently asked questions about The Covalent Foundation
How much does The Covalent Foundation give each year?
The Covalent Foundation gave $913K across 6 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $1.1M across 6 grants.
What is The Covalent Foundation's typical grant size?
The Covalent Foundation's median grant in 2025 was $97,500, and its average grant was $152,181, across 6 grants on its 2025 IRS Form 990-PF.
Where does The Covalent Foundation give grants?
The Covalent Foundation gives mostly in Texas: 93% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest state was New York (5%). The most frequent recipient cities were Austin, TX (4 grants).
Does The Covalent Foundation give general operating support?
Yes: 33% of The Covalent Foundation's 2025 grants with a stated purpose (2 of 6) were for general or operating support, per its 2025 IRS Form 990-PF.
Who are The Covalent Foundation's largest grantees?
The Covalent Foundation's largest 2025 grantees include Ascension Seton Foundation ($505,516), Dell Children's Medical Center Foundation ($152,570) and Texas Advocacy Project ($100,000), according to its 2025 IRS Form 990-PF. Together they received 83% of its itemized 2025 grant dollars.
How large is The Covalent Foundation?
The Covalent Foundation reported $3.9M in total assets on its 2025 IRS Form 990-PF. It paid out $975K in qualifying distributions that year, against a required minimum of $216K (roughly 5% of its investment assets).
What is The Covalent Foundation's EIN?
The Covalent Foundation's EIN (Employer Identification Number) is 47-5067002. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(8)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2019 (received by the IRS April 9, 2020)
- Updated Form 990-PF for fiscal year 2020 (received by the IRS April 15, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS April 16, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 11, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 7, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 12, 2025)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS April 20, 2026)
- IRS filings on file for fiscal years 2019–2025
Live grants for the work The Covalent Foundation funds
Philanthropy, Voluntarism & Grantmaking Open opportunities, soonest deadline first.
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Browse active grant opportunities in The Covalent Foundation's focus areas in our free grants database
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Figures come from The Covalent Foundation'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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