The Covalent Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in RESTON, VA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $4.8M in total assets. In 2024, it awarded 6 grants totaling $1.1M. Net investment income was $747K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$4.8M
-8.5% YoY
Annual Giving
$1.1M
-23.9% YoY
Grant Count
6
-14.3% YoY
Avg Grant Size
$176K
-11.2% YoY
About The Covalent Foundation
Based on IRS filings
The Covalent Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in RESTON, VA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $4.8M in total assets. In 2024, it awarded 6 grants totaling $1.1M. Net investment income was $747K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $4,844,482 | $5,293,748 | $5,064,745 |
| Revenue | $818,679 | $1,950,043 | $2,007,227 |
| Expenses | $1,267,945 | $1,721,040 | $2,027,645 |
| Qualifying Distributions | $1,183,471 | $1,636,090 | $1,933,091 |
| Net Investment Income | $746,555 | $149,141 | $124,422 |
| Distributable Amount | $242,765 | $301,744 | $242,097 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 6 recipients in 2024
Grant Size Distribution
33 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| MARK MCKENZIE | PRESIDENT/DIRECTOR | 1 | — |
| JESSICA L ZIEHR | VP/DIRECTOR | 1 | — |
| JULIA C MCKENZIE | VP/DIRECTOR | 30 | $65,077 |
Subject Areas
Focus areas based on grantmaking activity
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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