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
Under IRS private-foundation payout rules, The Covalent Foundation reported a distributable amount of $243K for 2024 — the minimum it must pay out in qualifying distributions.
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
Among its reported 2024 grants, the largest include Ascension Seton Foundation ($699,907), Dell Children's Medical Center Foundation ($147,376), Texas Advocacy Project (tap) ($100,000).
| Recipient | Purpose | Amount |
|---|---|---|
| ASCENSION SETON FOUNDATION AUSTIN, TX | CENTRAL TEXAS COMMUNITY HEALTH CENTERS AND HUMAN TRAFFICKING PREVENTION HUB | $699,907 |
| COURT APPOINTED SPECIAL ADVOCATES (CASA) OF TRAVIS COUNTY AUSTIN, TX | IMPROVE DATA MANAGEMENT SYSTEM AND CAPABILITIES | $50,000 |
| DELL CHILDREN'S MEDICAL CENTER FOUNDATION AUSTIN, TX | SUPPORT THE MATERNAL FETAL MEDICINE PROGRAM | $147,376 |
| 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 | $10,500 |
| TEXAS ADVOCACY PROJECT (TAP) AUSTIN, TX | GENERAL SUPPORT | $100,000 |
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
Frequently Asked Questions
What is The Covalent Foundation?
The Covalent Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in RESTON, VA. It holds $4.8M in total assets as of 2024.
How large is The Covalent Foundation?
As of 2024, The Covalent Foundation holds $4.8M in total assets with $819K in annual revenue. It awarded 6 grants totaling $1.1M in 2024.
Where does The Covalent Foundation operate?
The Covalent Foundation has awarded grants in New York, Texas, Virginia.
What size grants does The Covalent Foundation award?
In 2024, The Covalent Foundation awarded 6 grants totaling $1.1M — an average of about $176K per grant, based on its IRS Form 990 filings.
How much is The Covalent Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Covalent Foundation reported a distributable amount of $243K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
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 2020–2024.
Explore Open Grants
Browse active grant opportunities in The Covalent Foundation's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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