Covenant Home of Chicago

Investment decisions are not made at the facility level. The endowment participates in a combined investment fund managed by Covenant Ministries of Benevolence (CMB), an affiliate of the Evangelical Covenant Church. The combined pool aggregates capital from multiple Covenant-affiliated senior living communities and ministries. Day-to-day facility operations fall to Executive Director Augusta Hillman, while David Erickson oversees the broader Covenant Living network as President and CEO.

Covenant Living Communities and Services is the direct parent organization. Covenant Living provides management oversight and operational support across a national network of senior living communities, including the Chicago location. The relationship places Covenant Home of Chicago within a larger system that centralizes investment management through the denomination's combined fund structure.

Yes. The organization operates a Benevolent Care Fund designed to support residents who exhaust their financial resources. This is a standard philanthropic mechanism in faith-based continuing care retirement communities. The fund is separate from the combined investment pool managed by Covenant Ministries of Benevolence.

Covenant Ministries of Benevolence (CMB) manages a pooled investment vehicle that aggregates capital from multiple Covenant-affiliated entities, including senior living communities, benevolent ministries, and other church operations. The pooled structure provides economies of scale for institutional investment access. Individual participating entities, like Covenant Home of Chicago, hold an interest in the combined fund rather than managing separate portfolios.

Specific asset-class allocations for the Chicago facility's share of the combined fund have not been publicly disclosed. The pooled structure through CMB typically enables access across public equities, fixed income, real assets, and private market strategies that individual facilities would struggle to source independently. No breakdown at the entity level is available in public records.