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Filing year 2023

COVENANT WOODS

Mechanicsville, Virginia·EIN 54-0524902·NTEE E91 · Health Care·3
Total revenue
$39.1M
Total assets
$149.1M
Total expenses
$46.4M
Reported officers
23
Mission

IT IS THE MISSION OF COVENANT WOODS, A NOT-FOR-PROFIT CONTINUING CARE RETIREMENT COMMUNITY, TO PROVIDE OUR RESIDENTS WITH EXCEPTIONAL CARE, QUALITY OF LIFE, AND SECURITY AND COMFORT IN KEEPING WITH THE BENEVOLENT VISION OF OUR METHODIST AND PRESBYTERIAN FOUNDERS IN 1883.

Executive compensation, broken down

Form 990 · Schedule J · 8 reported individuals · Filing year 2023

$419k
$458k
Base
$372k
Bonus
Other
Benefits
$30k
Chief Financial Officer
$315k
$344k
Base
$258k
Bonus
$20k
Other
Benefits
$21k
Ex Director Home Health (until 12/23)
key employee
$238k
$260k
Base
$211k
Bonus
Other
$14k
Benefits
Dir Business Develop (until 12/23)
highest compensated employee
$198k
$216k
Base
$158k
Bonus
Other
$26k
Benefits
$10k
Director of HR
highest compensated employee
$189k
$206k
Base
$150k
Bonus
$7k
Other
Benefits
$21k
IT Director (until 12/23)
chief information officer
$172k
$188k
Base
$154k
Bonus
Other
Benefits
$10k
Director of Dining
highest compensated employee
$167k
$182k
Base
$144k
Bonus
$4k
Other
Benefits
$10k
Administrator
highest compensated employee
$166k
$182k
Base
$143k
Bonus
$5k
Other
Benefits
$10k

Teal figures restate each filed amount in 2026 dollars.

Estimated with BLS CPI-U for the South region, restating filed pay into May 2026 dollars. A restatement of past pay, not current or projected pay.

Plus 15 unpaid individuals.

Browse compensation in Health Care

Held steady
from 2022

From $416k in 2022 to $419k in 2023.

$416k
2022
$419k
2023
In today's dollarsEst.
Down 4% in real terms$475k to $458k

Estimated with BLS CPI-U for the South region, restating filed pay into May 2026 dollars. A restatement of past pay, not current or projected pay.

Highest reported compensation in each year. Volunteer board members and partial-year payouts are filtered out.
Financial trend

Revenue and expenses over time

COVENANT WOODS reported revenue and expenses across 2 filing years.

RevenueExpenses
$36.8M
$43.6M
2022
$39.1M
$46.4M
2023
Total revenue and total expenses from IRS Form 990 filings.
Sector benchmark

What Health Care executives earn in Virginia

Comparable health care organizations in Virginia pay their highest-earning executive a median of $102,486.

25th percentile
$55k
Median
$102,486
75th percentile
$256k
90th percentile
$518k

These are health care sector-wide figures, not this organization's reported pay. Based on 92 organizations across 92 filings (2021 – 2023).

See full Health Care pay data for Virginia
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