Covenant Foundation is a 1-Star Charity. It has below average disclosure with a D+ results reporting grade. Its overhead spending and need for funding are both outside Ci’s reasonable range. Please read Ci’s report before donating

Covenant Foundation is a large local charity formed in 1994. It was formed when three Edmonton hospital foundations merged to create Caritas Foundation. The three hospitals were Edmonton General Hospital, Grey Nuns Hospital, and Misericordia Hospital. In April 2016, the foundation was renamed Covenant Foundation. It raises money for 28 Covenant Health, Covenant Care and Covenant Living facilities across Alberta.

Covenant focuses spending across six programs: Seniors' Health and Wellbeing, Mental Health and Addictions, Palliative Care, Rural Health, Women's and Children's Health, and Spiritual Care and Mission. Covenant funds equipment, programs, research, and facility upgrades. It does not disclose how much it spends on each program. In F2025, Covenant granted $2.4m across 105 grants. Covenant hospitals deliver over 8,500 babies each year. Grant examples in F2025 include: $694k for the Rural Mobile Simulation Project which trains rural healthcare teams, $202k for a device that helps seniors swallow safely, and $116k for seniors' programming.

Covenant Foundation had total revenues of $6.4m in F2025. It received $4.1m in donation which is 64% of total revenues. It also received $2.0m in investment income representing 31% of total revenues.

Covenant spent $924k on fundraising which is 23% of donations. It spent $1.9m on administration which is 43% of revenues. Total overhead spending is 66% which is outside Ci’s reasonable range. Covenant Foundation’s overhead spending has been outside of Ci’s reasonable range for the past three years. For every dollar donated, 38 cents are available to go to the cause.

Covenant has $46.2m in reserve funds (cash and investments) of which $10.8m is donor endowed. Excluding donor-endowed funds, the charity’s reserves can cover annual program costs for 12 years. This is outside Ci’s reasonable range.

Covenant Foundation holds $44.6m in investments. Of that, $25.3m or 57% is invested in equities and $16.3m or 37% in bonds. Covenant earned a return of 5% on its investments in F2025. The average return over the last 3 years was 5%.

Updated on May 26, 2026 by Raihan Firosh.