Covenant Woods
7090 Covenant Woods Drive
Mechanicsville VA 23111
Mission Statement 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.
Leadership
CEO/Executive Director Mr. John Dwyer
Board Chair Mr. Richards D. Adams
Board Chair Company Affiliation Independent Financial Advisor
Contact Information
Address 7090 Covenant Woods Drive
Mechanicsville, VA 23111
Telephone 804 569-8000
Fax 804 569-8177
E-mail brichardson@covenantwoods.com
History and Background
Year of Incorporation 1942
Former Names
NameYear
The Richmond Home for Ladies2001
Financial Summary
 
 
Projected Revenue $21,645,411.00
Projected Expenses $23,607,942.00
Statements
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.
Impact Covenant Woods received its third five-year accreditation from CARF–CCAC in 2015 and is one of only three accredited Continuing Care Retirement Communities in the Greater Richmond area. In October 2014, Covenant Woods opened a new resident building, The Lodge, doubling the physical size of Covenant Woods and increasing its Independent Living population by two-thirds. In spring of 2015, Covenant Woods announced that it has begun planning for an extensive expansion and renovation of its  Health Care Center, Manor East.
Needs
Covenant Woods' primary benevolent mission and fund raising objective is the support of residents who are otherwise unable to afford to make Covenant Woods their home. The Covenant Program ensures that no resident ever has to leave because of lack of funds.
 
Covenant Woods uses volunteers in multiple areas and always seeks individuals who are interested in reading to and visiting with assisted living and healthcare residents, providing programs and leading class sessions in multiple areas including art, computer navigation and music.
 
We are also seeking organizations that we can partner with on programs and events that will bring health, educational and /or cultural opportunities to seniors in the Greater Richmond Region.  
Background
Covenant Woods offers seniors the benefits of an active lifestyle and state-of-the-art facilities in the midst of the natural beauty of Hanover County. As an accredited Continuing Care Retirement Community, we have a commitment to the future well-being of both the community and its residents, and that commitment is grounded in a long and proud history of service and caring.
 
Covenant Woods was founded in 1883 as the Richmond Home for Ladies, by Presbyterian and Methodist churches in the Richmond area to provide a home for women who had no one to take care of them.
 
Dr. William W. Parker, a physician, met with Dr. D.H. Gregg—who is referred to in the history as “bountifully endowed with the world’s goods.” Dr. Gregg agreed that there was a need and offered $10,000 in Petersburg Railway bonds for the construction of a home for "aged and infirmed females". Dr. Parker secured support from Dr. Moses D. Hoge, pastor of the Second Presbyterian Church and Bishop Granberry of Centenary Methodist Church; and all agreed to proceed with the plans for a home for elderly Methodist and Presbyterian women.
 
At a meeting on February 15, 1883, the name “Richmond Home for Ladies” was adopted. That same month Dr. Gregg purchased a lovely brick home at 515 North Seventh Street, between Clay and Leigh streets. By year's end, it housed 12 ladies and the admission fee was $200. However, no one was denied entrance because of lack of funds.
 
By 1913, with the home filled to capacity and a long waiting list, the decision was made to move to the corner of Stuart Avenue and Mulberry Street—then Richmond’s Far West End.
 
Over the years the Richmond Home for Ladies expanded and changed to meet the needs of the times: an infirmary was added, nurses were added, and then an administrator. The home continually updated and modernized to fulfill its mission—exceptional quality of care and an exceptional quality of life for seniors—within the parameters of the times.
In 2001, The Richmond Home for Ladies was relocated to Hanover County, renamed Covenant Woods,  and began serving men and women as a continuing care retirement community with 54 independent living apartments and 29 cottages, plus assisted living and health care residences. In 2007, Covenant Woods expanded adding 50 apartment, and in 2014 opened "The Lodge" adding an additional 84 independent living apartments and 22 cottages. 
 Covenant Woods residents enjoy four different independent living dining venues and five dining venues in assisted living and health care.  In addition, a salt water swimming pool, fitness center, clinic, community center, library, walking and biking paths, and multiple meeting spaces facilitate many social, recreational, cultural and health opportunities. 
 
CEO Statement

A cornerstone of Covenant Woods’ mission, from the beginning of the Richmond Home for Ladies in 1883, is service to seniors, especially to those who reach a point in life where supportive health services become of paramount importance. We have been able to perpetuate that mission in large part due to the generosity of our many loyal donors.  We are truly blessed with a rich legacy of strong financial support for the many residents who, over the years, have benefitted from our Covenant Program. The Ed Givens Scholarship Fund provided financial scholarships to eight members of our staff this year, and we provided strong sponsorship support to a number of local Hanover community programs through our Raymond T. Holmes Community Services Fund.

 

All of the various funds Covenant Woods maintains are vital in assisting us in meeting our mission both on our campus as well as extending our reach beyond our physical borders. Covenant Woods strives to not only meet the service needs of our residents, and support the educational goals of our staff, but also be a strong member of our local community.

Areas of Service
Areas Served
Area
Tri-cities Region
Board Chair
Board Chair Mr. Richards D. Adams
Company Affiliation Independent Financial Advisor
Term Apr 2016 to Mar 2017
Email rdachfc@verizon.net
Board of Directors
Board Members
NameAffiliation
Mr. Richard D. Adams Independent Financial Advisor
Mr. Brandon Armor Variable Products Portfolio Leader
Mrs. Emily Bennett Nurse Practioner, Cross Over Ministries
Mr. Michael Carter Retired, Randolph Macon College
Rev. Nancy Clark Pastor
Mrs. Charlotte Forrester St. Catherine's School, Retired
Mrs. Kimberly Lynch Virginia Department of Health Professionals
Mr. Jimmy T. Mills Infrastructure and Highway Solutions
Mr. W. Canova Peterson Architect
Mr. Bradley Purcell Planned Giving Advantage, Inc.
Mr. Michael Reynold Esq.McGuire Woods LLP
Mr. O. Randolph Rollins Esq.Drive-to-Work
Mr. Michael Smith Michael S. Smith, CPA and Financial Planning Services, LTD
Mr. Eddie Gray Stiles Sr.Luck Chevrolet
Mr. Steve Thimmesch Resident, Covenant Woods
Mr. William Weimer Financial Analyst
Mrs. Ayn Welleford Ph.DVCU Department of Gerontology
Board Demographics - Ethnicity
African American/Black 0
Asian American/Pacific Islander 0
Caucasian 17
Hispanic/Latino 0
Native American/American Indian 0
Board Demographics - Gender
Male 12
Female 5
Governance
Board Term Lengths 3
Board Term Limits 2
Board Meeting Attendance % 90
Written Board Selection Criteria? Yes
Written Conflict of Interest Policy? Yes
Percentage Making Monetary Contributions 100
Percentage Making In-Kind Contributions 25
Number of Full Board Meetings Annually 4
Risk Management Provisions
Accident and Injury Coverage
Automobile Insurance
Directors and Officers Policy
Disability Insurance
Medical Health Insurance
Risk Management Provisions
Standing Committees
Development / Fund Development / Fund Raising / Grant Writing / Major Gifts
Strategic Planning / Strategic Direction
Executive
Board Governance
Finance
Audit
Project Oversight
Other Boards
The tables below contain information about other groups that advise this nonprofit on operations and projects.
Executive Director
Executive Director Mr. John Dwyer
Experience

John Edward Dwyer, Jr. was appointed as President and Chief Executive Officer, of Covenant Woods effective December 1, 2013. Dwyer was formerly with Sunnyside Retirement Community, Harrisonburg, Virginia, where he had served as Executive Director since 2008. While at Sunnyside, a 550 resident community with a $22 million annual budget, he positioned the organization to improve year-over-year net revenue streams to approximately $1 million annually.

Prior to his service at Sunnyside, Dwyer was Executive Director of Culpeper Baptist Retirement Community in Culpeper, Virginia from 1997-2008, Administrator of Western North Carolina Baptist Home in Asheville, North Carolina from 1993-1997, and Administrator of Sommerset Retirement Community  in Sterling, Virginia from 1990-1993.

A 1981 graduate of Bridgewater College with a degree in Business Administration, he received his Master of Business Administration from James Madison University in 2001. He is a licensed Nursing Home Administrator, served on the Culpeper Chamber of Commerce Board of Directors and currently serves on the Board of Directors of the Virginia Association of Nonprofit Homes of the Aging (VANHA), having served two years as the Chairman.

Former CEOs
NameTerm
MR. Timothy Johnson Jan 1999 - Dec 2013
Senior Staff
NameTitle
Erik Mauritsen Chief Financial Officer
Staff
Full Time Staff 107
Part Time Staff 53
Volunteers 264
Contractors 10
Retention Rate 71
Plans
Organization has a Fundraising Plan? Yes
Organization has a Strategic Plan? Yes
Years Strategic Plan Considers 5
Date Strategic Plan Adopted 2013
Management Succession Plan? No
Organization Policy and Procedures Yes
Nondiscrimination Policy Yes
Whistleblower Policy Yes
Document Destruction Policy Yes
Directors and Officers Insurance Policy Yes
Collaborations

Richmond Alzheimer’s Association

Richmond Arthritis Association

The Hanover Center for Trades and Technology

Hanover Christmas Mother

Hanover County Public Schools Nurse Aide Program          

Hanover County Sherriff’s Department

Hanover Economic Development Board

Hanover Education Foundation

Hanover Habitat for Humanities

Hanover Parks and Recreation

Hanover Youth Service Council (HYSC)

Senior Connections the Capital Area Agency on Aging

External Assessments and Accreditations
Assessment/AccreditationYear
Commission on Accreditation of Rehabilitation Facilities (CARF) - Aging Services - 3 Year Accreditation2015
Awards
Awards
Award/RecognitionOrganizationYear
The Commonwealth AwardVCU School of Allied Health Professionals- Gerontology2014
Programs
Description
Named in honor of one of our organization’s great benefactors, the Alex Armour Covenant Program supports the benevolent mission of Covenant Woods. Contributions to the Alex Armour Covenant Program provides financial assistance to residents in need.

The mission of the Alex Armour Covenant Program is to provide for those who have worked hard and served our community well, but are not in a financial position to pay for all their needs in retirement. The Alex Armour Covenant Program provides confidential financial assistance for residents whose assets are not sufficient to meet their ongoing expenses.
Population Served Elderly and/or Disabled
Budget $473,000.00
Description The Raymond T. Holmes, Jr. Community Service Fund Through community partnerships, Covenant Woods is expanding its educational and service offerings to seniors throughout the Richmond area, both on and off campus. The Fund is named in memory of Raymond T. Holmes, Jr., a longtime volunteer who was instrumental in the move of The Richmond Home for Ladies to Hanover County and the creation of Covenant Woods.
Budget $15,000.00
Description The J. Edwin Givens Employee Scholarship Fund Covenant Woods raises and distributes scholarship funds to support the continuing education of deserving employees pursuing an undergraduate degree or trade school certificate. The J. Edwin Givens Employee Scholarship Fund was named in memory of J. Edwin Givens, who devoted over 40 years of volunteer service to Covenant Woods.
Population Served Adults
Budget $5,000.00
CEO/ED/Board Comments

We are proud of Covenant Woods' ever-evolving programs and excited about our role in meeting the needs of seniors in the greater Richmond area. We are successfully blending the offerings our residents and prospects seek, with a strong emphasis upon our natural surroundings and conservation, and achieving our mission of providing security, comfort, quality of life and exceptional service. As always, much of what we accomplish in this regard is due in part to the generosity of our donors. 

Fiscal Year
Projected Revenue $21,645,411.00
Projected Expenses $23,607,942.00
Spending Policy N/A
Form 990s
IRS Letter of Exemption
Detailed Financials
Revenue SourcesHelpThe financial analysis involves a comparison of the IRS Form 990 and the audit report (when available) and revenue sources may not sum to total based on reconciliation differences. Revenue from foundations and corporations may include individual contributions when not itemized separately.
Fiscal Year201520142013
Foundation and
Corporation Contributions
------
Government Contributions$0$0$0
Federal------
State------
Local------
Unspecified------
Individual Contributions$142,053$219,539$137,740
------
$15,025,779$12,888,567$11,795,387
Investment Income, Net of Losses$1,757,724$3,709,794$1,257,378
Membership Dues------
Special Events------
Revenue In-Kind$27,552----
Other$488,497$421,992$381,360
Expense Allocation
Fiscal Year201520142013
Program Expense$16,036,315$12,772,797$12,485,038
Administration Expense$2,957,104$2,838,347$1,893,282
Fundraising Expense$122,948$132,889$121,377
Payments to Affiliates------
Total Revenue/Total Expenses0.911.100.94
Program Expense/Total Expenses84%81%86%
Fundraising Expense/Contributed Revenue87%61%88%
Assets and Liabilities
Fiscal Year201520142013
Total Assets$153,310,386$148,712,532$127,638,235
Current Assets$2,141,936$2,423,568$1,311,008
Long-Term Liabilities$117,729,553$108,300,347$91,666,601
Current Liabilities$5,581,397$8,619,098$5,674,406
Total Net Assets$29,999,436$31,793,087$30,297,228
Short Term Solvency
Fiscal Year201520142013
Current Ratio: Current Assets/Current Liabilities0.380.280.23
Long Term Solvency
Fiscal Year201520142013
Long-Term Liabilities/Total Assets77%73%72%
Capital Campaign
Currently in a Capital Campaign? No
Capital Campaign Anticipated in Next 5 Years? No
State Charitable Solicitaions Permit
Solicitations Permit
Solicitations Permit ExemptionView
Comments
Foundation Comments
  • Financial information provided from IRS 990s; Asset and liability information provided from audited financial statements.
  • IRS 990s and audited financial statements prepared by Dixon Hughes Goodman, LLP.
  • Revenue from "Individuals" also includes corporate and foundation support.