2023-11-15T11:16:10-08:00 2022-12-31 263548566 M GROUP LLP 515 W SOUTHLAKE BLVD Ste 150 SOUTHLAKE TX 76092 990 2022-01-01 760573676 COVENANT COMMUNITY CAPITAL CORPORATION COVE 8328792204 PO BOX 15398 HOUSTON TX 77220 STEPHAN FAIRFIELD President & CEO 2023-11-15 true STEPHAN FAIRFIELD 999009999 true MICHAEL C MARTIN P01421482 8178651360 2 AAL1 IAL1 FAL1 2022 2023-04-26 12:10:37Z Stephan Fairfield PO BOX 15398 HOUSTON TX 77220 2093022 false X N/A X 1998 TX Covenant equips aspirational working families to thrive and secure intergenerational resilience by acquiring affordable homes, accessing quality education, managing risk, and building savings for life. 5 4 11 0 776402 602601 1378414 1432789 55349 57632 0 2210165 2093022 114175 152425 0 665295 632484 0 77917 1375743 1615223 2155213 2400132 54952 -307110 9362906 9150132 3599469 3693805 5763437 5456327 X Covenant equips aspirational working families to thrive and secure intergenerational resilience by acquiring affordable homes, accessing quality education, managing risk, and building savings for life. false false 1409119 1432624 Affordable Family Townhome Rentals In 2010 PNC Bank approached Covenant to do a workout on a distressed 128-unit 2002 apartment community in Baytown known as Townhomes of Bay Forest. Covenant obtained a $5,660,000 0% NSP loan from TDHCA to retire the defaulted mortgage, make capital improvements, build a playground, and lower rents to levels affordable to families earning 50% of the area median income. In 2018, Covenant acquired PNCs limited partner interest in the community. Covenant staff live onsite and provide after school, summer, and holiday family programming. 660769 384011 Family Asset Building through financial education, coaching, savings prizes, savings matches and 0% loans that equip aspirational working families to secure economic mobility and intergenerational resilience. In 2022 665 families received financial education and coaching, 522 opened savings accounts and built an emergency fund, and 54 families earning an average of $32,043 received a savings match to buy their first home, of whom 70% were Black, 26% Latino, 1% American Indian, and 1% Middle Eastern/North African. Covenant leveraged its saving matches by facilitating an additional $1,761,466 in down payment and closing costs assistance for these clients. Five years after purchase, mean Covenant homebuyer equity was $130,299, or 107% of US median family wealth. Black Covenant homebuyer equity was 511% of the US median Black family wealth. 127160 Community Asset Building through financing and development expertise to create home or job opportunities for low-income families. Since 2000 Covenant has facilitated the creation of 700+ jobs and 2,336 affordable homes, and restoration of 323 storm damaged homes. In 2022: our financing of Grace Freight grew the firm to 22 busy tractor-trailer rigs and 167% of the 24 new jobs sought for ex-offenders; assistance for UP CDC to create the East End Maker Hub continues to bear fruit with their expansion; we completed perm loan conversion of the 112-unit Law Harrington senior-living community and Legacy Clinic for Montrose Center, completed lease-up of the amenity-rich McKee City Living affordable community for 120 working families in Downtown Houston, and neared completion of the 93 unit Sunrise Lofts for youth exiting foster care in EADO. 72042 37499 2269090 true true false false false false false false false false true false false true true true true false false false false false false false false false false false true true false false false false false false false false false false false false true true true false false false true 9 0 true 11 true false false false false false false false 0 false false false false false false false X 5 4 false false false false false false false true true false false true true true true true true true false false X STEPHAN FAIRFIELD 8328792204 3300 LYONS AVENUE SUITE 203 HOUSTON TX 77020 Stephan Fairfield President & CEO 24.00 0.00 X X 96541 0 62819 John Cochran Chairman 2.00 0.00 X X 0 0 0 Karen Becerra Director 1.00 0.00 X 0 0 0 Eugene Lee Director 1.00 0.00 X 0 0 0 Gloria Sanderson Director 1.00 0.00 X 0 0 0 96541 62819 0 false true false 0 602601 602601 Other income 165 165 Partnership Mgmt Fees 52943 52943 Rental Income 1337170 1337170 Social Service Fees 42511 42511 1432789 57632 57632 0 0 0 0 0 0 0 0 2093022 1490421 0 152425 152425 0 0 96541 54063 9654 32824 0 332114 332114 0 170894 143254 6282 21358 32935 29685 739 2511 0 5500 5500 31337 8950 22387 0 0 0 34356 13356 21000 900 900 55374 55150 224 0 0 45468 45468 7911 3098 4813 0 0 2469 2469 0 322076 318260 3816 152657 147223 5434 MULTIFAMILY SEE SCH O 747032 747032 Taxes 114557 114557 Bad Debt 95586 95586 0 2400132 2269090 53125 77917 832263 937675 0 0 1568482 1557860 0 0 855372 805365 0 24843 40793 10491130 5797160 4905315 4693970 0 0 0 0 1176631 1114469 9362906 9150132 641293 679831 2740166 2655851 218010 358123 3599469 3693805 X 4313795 4048960 1449642 1407367 5763437 5456327 9362906 9150132 -307110 X false true X true true true X 3701585 2100086 1905409 776402 602601 9086083 936967 1286608 1310400 1378414 1432789 6345178 0 0 0 4638552 3386694 3215809 2154816 2035390 15431261 0 0 15431261 78710 83213 66975 55349 57632 341879 0 78710 83213 66975 55349 57632 341879 0 0 4717262 3469907 3282784 2210165 2093022 15773140 0.97830 0.97490 0.02170 0.02510 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 760409 760409 7734244 4017508 3716736 1407795 1195829 211966 190375 185516 4859 398307 398307 4693970 FUNDED RESERVES 663843 Other Assets 30942 Restricted Cash 369754 TENANT SECURITY DEPOSITS 49930 1114469 DEFERRED REVENUE 150427 Due to related parties 114814 IDA Matching Advances 38995 Loss in Investment in Partnership 1010 PREPAID RENT 2947 Tenant security deposits 49930 358123 X 2093022 2093022 2093022 2400132 2400132 2400132 Part X : FIN48 Footnote The Corporation is a not-for-profit corporation under the provisions of Section 501(c)(3) of the Internal Revenue Code and is exempt from federal income taxes. The Corporation did not have any unrelated business income during 2021 and 2020. Current accounting standards require that entities recognize any uncertain tax position that is more-likely-than-not to be sustained upon examination. Management believes it has no material uncertain tax positions. Accordingly, no provision or benefits for income taxes have been recorded in the financial statements.Income tax returns filed by the Corporation are subject to examination by the Internal Revenue Service for a period of three years. There are no examinations currently in progress. true 0 0 IDA savings matching 42 152425 FMV N/A X X false false false false false false false false false Stephan Fairfield President & CEO 96541 10550 52269 159360 Form 990, Part III, Line 4d OTHER PROGRAM SERVICES 4: Affordable Family Townhome Rentals In 2010 PNC Bank approached Covenant to do a workout on a distressed 128-unit 2002 apartment community in Baytown known as Townhomes of Bay Forest. Covenant obtained a $5,660,000 0% NSP loan from TDHCA to retire the defaulted mortgage, make capital improvements, build a playground, and lower rents to levels affordable to families earning 50% of the area median income. In 2018, Covenant acquired PNCs limited partner interest in the community. Covenant staff live onsite and provide after school, summer, and holiday family programming. Form 990, Part VI, Section B, Line 11b Form 990 is reviewed by the President and trustees prior to filing. Form 990, Part VI, Section B, Line 12c Officers, Directors, Trustees and Key Employees are required to submit immediately for review any actions that could potentially pose a conflict in interest. Such interest is reviewed annually for changes. Form 990, Part VI, Section B, Line 15a The process includes review of applicable comparability data and compensation surveys. Form 990, Part VI, Section B, Line 15b The process includes review of applicable comparability data and salary surveys. Form 990, Part VI, Section C, Line 19 Documents are provided upon request. FORM 990, PART IX, LINE 24A MULTIFAMILY PROGRAM EXPENSES:PROPERTY STAFF 214,296PROPERTY STAFF BENEFITS 28,116ADVERTISING & MARKETING 9,269LEASING OFFICE EXPENSES 15,751PROPERTY MANAGEMENT FEES 67,899UTILITIES 183,868OPERATING & MAINTENANCE 227,833 _________TOTAL MULTIFAMILY EXPENSES $ 747,032 ========= Kingwood Senior Management LLC 3300 Lyons Avenue Suite 203 Houston TX 77020 020785952 Affordable Housing TX 9372 Covenant Community Capital Corp HAMMERLY DEVELOPMENT LLC 3300 Lyons Avenue Suite 203 HOUSTON TX 77020 474100922 Affordable Housing TX 13327 660252 Covenant Community Capital Corp Camelia Development LLC 3300 Lyons Ave Ste 203 Houston TX 77020 Affordable Housing TX Covenant Community Capital Corp Townhomes of Bay Forest LP 3300 Lyons Avenue Houston TX 77020 760651571 Low Income Housing TX Covenant Community C Related 1341548 5478743 false true 1.00000 Kingwood Senior Village GP LLC 3300 Lyons Avenue Houston TX 77020 510557192 Affordable Housing TX Covenant Community C Corp 52868 510054 1.00000 true Covenant Bay Forest LLC 3300 Lyons Avenue Houston TX 77020 274439224 Affordable Housing TX Covenant Community C Corp 49832 50822 1.00000 true false false false false false false false false false false false false false false false false false false false