Covenant Clearinghouse's Commitment to Charitable Giving
Covenant Clearinghouse's Resolution to Charitable Contributions
Covenant Clearinghouse, renowned for its leadership in real estate assessments, has proudly announced their year-end charitable funding for the community. The firm is dedicated to supporting various organizations that strive to better their local areas.
Support for CASA and Other Beneficiaries
“CASA (Court Appointed Special Advocates) plays a vital role in many communities, and we are honored to support their mission,” expressed Shannon Everson, the Vice President at Covenant Clearinghouse. This year's funding has positively impacted various CASA affiliates, reaching out to numerous communities across multiple regions.
A Diverse Array of Community Groups
Alongside CASA, the charitable efforts have further extended to include:
- Food banks aiding families amidst food insecurity hurdles.
- Breast cancer assistance centers, which provide necessary support and healthcare.
- Organizations advocating for affordable housing, including Casa Tierra SA.
- The Colorado Watershed Council, which focuses on environmental protection and conservation.
- Local preservation initiatives driven by active citizen organizations in various states.
Honoring Past Beneficiaries
Previous funding recipients have included volunteer fire departments, no-kill animal shelters, and vital domestic violence resources. Their ongoing commitment is clear: to uplift community programs that play a crucial role in societal support systems.
A Model of Sustainable Charitable Funding
Covenant Clearinghouse utilizes a unique financing model for nonprofit funding through capital recovery fees, also identified as transfer fees attached to large real estate developments. This methodology aims to distribute infrastructure costs more effectively, which in turn eases financial burdens.
Long-Term Benefits for Nonprofits
Covenant Clearinghouse is dedicated to allocating a minimum of five percent of gross assessment income to nonprofits, ensuring that the fruits of their efforts benefit the community sustainably. As their portfolio grows, so too does the potential for significant nonprofit distributions over time.
The Necessity for Reliable Funding Sources
In today's challenging economic climate, maintaining a steady funding source for community initiatives is crucial. “Maximizing the utility of public resources without any charitable contribution deductions is pivotal,” Everson noted, underlining the company's integrity and dedication.
About Covenant Clearinghouse
With over a decade of service based in Austin, Covenant Clearinghouse has been instrumental in managing assessment rights associated with billions of dollars in commercial and residential projects. Their goal is to distribute developmental costs fairly, easing homeowners' burdens and providing enduring funding for charitable causes.
Contact Information
For more insights about Covenant Clearinghouse's initiatives, please visit their website. Additionally, should you need to connect with media inquiries, you can reach out to Megan Alderman via email.
Frequently Asked Questions
What is the primary purpose of Covenant Clearinghouse?
The main goal of Covenant Clearinghouse is to administer real estate assessment rights and allocate funds to support various community nonprofits.
Which organizations benefit from the funding?
Funding supports a variety of organizations, including food banks, CASA, breast cancer care centers, and affordable housing advocates, among others.
How does Covenant Clearinghouse generate its funding?
Funding is generated through capital recovery fees linked to real estate developments, enabling equitable distribution over time.
What percentage of funds is allocated to nonprofits?
Covenant Clearinghouse commits at least five percent of gross assessment income to nonprofit organizations benefiting the community.
How long has Covenant Clearinghouse been in operation?
The organization has over a decade of experience in managing assessment rights and contributing to charitable funding initiatives.
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