Covenant Ministries of Benevolence

Name

Covenant Ministries of Benevolence

Legal name

Covenant Ministries of Benevolence

Website

https://cmb.org

Company type

Private

Founded year

1886

Operating status

Operating

Ownership category

akta.pro rank

Product category

Nonprofit Ministry Administration

NAICS

Continuing Care Retirement Communities (623311), Religious Organizations (8131)

akta.pro primary industry

Nonprofit / Faith-Based CCRCs (HLADAEAC)

akta.pro secondary industries

Faith-Based Healthcare Ministries (Hospitals, Clinics, Medical Missions) (BPAGAJAH), Denominational & Ecclesiastical Governance Bodies (Dioceses, Synods, Conferences) (BPAGAJAB)

Keywords

• Nonprofit ministry administration
• Retirement plan administration
• Senior living services
• Developmental disability services
• Faith-based social services

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Others

Revenue model

1. Ministry Administration Services: CMB provides administrative and long-term financial management services for institutions of the Evangelical Covenant Church, its conferences, churches, and clergy. Revenue is generated through administrative fees and management services for affiliated ministries.
2. Retirement Plan Administration: CMB serves as plan administrator for several retirement plans including the Evangelical Covenant Church Retirement Plan (ECCRP) and 403(b) Defined Contribution Plan. Revenue is generated through plan administration fees.
3. Donations and Contributions: CMB accepts tax-deductible donations to support ministry operations. Donors can contribute to CMB directly or to specific affiliated ministries.

Go-to-market motion1 record

Distribution channels7 records

Marketing channels5 records

Core offering

Covenant Ministries of Benevolence is a faith-based holding company that administers a portfolio of affiliated ministries on behalf of the Evangelical Covenant Church. It provides administrative and long-term financial management services to churches, clergy, conferences, and other ECC institutions, while operating or supporting ministries in senior living, developmental and behavioral services, grief support, and ministry incubation. CMB also administers retirement plans (ECCRP and 403(b)) for ECC employees and partners through Covenant Trust Company and National Covenant Properties for asset management and lending.

Product overview

Covenant Ministries of Benevolence operates as a holding company that administers a portfolio of ministry organizations serving vulnerable populations. The organization provides retirement plan administration services through the ECCRP (Defined Benefit) and 403(b) (Defined Contribution) plans. Its affiliated ministry portfolio includes Covenant Living Communities and Services (one of the nation's largest not-for-profit retirement housing providers), Covenant Initiatives for Care (supporting start-up ministries), Ädelbrook Behavioral and Developmental Services (serving children and families), and EMC Health (operating Jessica's House grief support center). CMB also supports affiliated ministries with intellectual and financial capital through Covenant Trust Company and National Covenant Properties.

Differentiator

Problem solved

Functional benefit

Brands

• Covenant Initiatives for Care: Ministry support organization that helps build accountable and sustainable ministries, including Covenant Ability Network and Covenant Children's Ministries.
• Covenant Living Communities and Services
• Ädelbrook Behavioral and Developmental Services
• EMC Health, Inc.
• Covenant Trust Company
• National Covenant Properties

Products and services

• Covenant Initiatives for Care Ministry support program that helps build accountable and sustainable ministries by providing access to intellectual and relationship capital. Includes Covenant Ability Network and Covenant Children's Ministries.
• Covenant Living Communities and Services One of the nation's largest not-for-profit retirement housing providers serving seniors since 1886. Offers continuing care retirement communities from coast to coast with the LifeConnect philosophy for whole-person wellness, plus home care services in Turlock, CA and St. Charles, IL.
• Ädelbrook Behavioral and Developmental Services Provides hope and healing to children and families in a Christian environment through professional, educational, residential, and therapeutic options addressing developmental and behavioral challenges.
• EMC Health, Inc. Manages wind-down assets and responsibilities following the 2014 sale of Emanuel Medical Center. Operates Jessica's House as a grief support center for children, teens, young adults, and families.
• Evangelical Covenant Church Retirement Plan (ECCRP) A Defined Benefit Plan (employer-only contributions) for evangelical Covenant Church employees that was frozen by 2013. As of March 2025, administration transferred to Nationwide insurance company after CMB fully funded the plan to guarantee all benefits.
• 403(b) Defined Contribution Plan A retirement plan funded by both employee and employer contributions, with employer matching once fully vested. Administered on behalf of ECC employees through Fidelity and Corebridge.

Named customers7 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered major, core and minor.

• Nationwide InsurancemajorOthers · 1 March 2025Nationwide Pension Transfer Service Center assumed administration of the Evangelical Covenant Church Retirement Plan (ECCRP) from CMB in March 2025. CMB fully funded the plan prior to transfer to guarantee all benefits. Participants receive pension benefits from Nationwide with no change to amount or form of payments.
• Covenant Trust CompanycoreStrategic or Co-development PartnerCovenant Trust Company is a financial services resource for trustee and asset management services, legacy and life planning information. They work with the Evangelical Covenant Church, its denominational ministries and all who support them. In addition to the $1 billion in ministries CMB administers directly, they assist many ministries by providing intellectual resources and/or financial support through this partnership.
• National Covenant Properties (NCP)coreStrategic or Co-development PartnerAs the ECC's own loan source and short-term investment arm, NCP aids ministries in investing, purchasing new properties and in refinancing debt. CMB has the privilege of promoting and utilizing NCP in assisting affiliates' growth. This relationship offers an efficient, in-house, Christian partnership providing the trust affiliates deserve.
• The Evangelical Covenant ChurchcoreStrategic or Co-development PartnerCMB partners with the Evangelical Covenant Church to advance the ministry of Jesus Christ through development and support services. CMB maintains well-developed capacity to recognize, evaluate, develop, support and stabilize entities in alignment with its mission. CMB serves churches, clergy, conferences and other ECC institutions.
• Fidelity InvestmentsmajorOthersFidelity Retirement Service Center administers CMB's 403(b) Defined Contribution Plan for current plan participants. Employees and employers contribute to this plan with employer matching once fully vested.
• Corebridge FinancialminorOthersCorebridge handles certain 403(b) funds invested in the VALIC Fixed Account or Corebridge annuities that did not automatically transfer to Fidelity. Participants can contact Corebridge Client Care to transfer funds.
• Covenant BenefitsmajorOthersCovenant Benefits administers retirement plans for employees (lay or clergy) of the Evangelical Covenant Church denomination. Contact: (800) 313-8955 or [email protected].

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Lutheran Services in America: National network of 300+ Lutheran health and human services organizations operating senior care, child and family services, and disaster response. Closest operational parallel to CMB's role as a faith-based nonprofit holding company for denominational ministries.
• Guidestone Financial Resources: Southern Baptist-affiliated organization providing retirement plans, insurance, and investment services to church and ministry workers. Directly parallels CMB's retirement plan administration function for ECC clergy and lay employees.
• Church Pension Group: Provides pension, health, and welfare benefits to Episcopal Church clergy and lay employees. Directly comparable to CMB's ECCRP and 403(b) administration function for denominational workers.
• Presbyterian Senior Living: Faith-based nonprofit operating multiple continuing care retirement communities, personal care, and home health services across Pennsylvania and the mid-Atlantic. Direct parallel to Covenant Living Communities and Services' national CCRC footprint.
• Asbury Communities: Methodist-affiliated nonprofit operating continuing care retirement communities, senior living, and home health across the mid-Atlantic and beyond. Directly comparable to CMB's Covenant Living subsidiary in faith-based CCRC operations.
• Pension Fund of the Christian Church: Provides pension and retirement benefits to Disciples of Christ clergy and lay employees, with associated asset management services. Closely parallels CMB's retirement plan administration and Covenant Trust Company function.
• American Baptist Home Mission Societies: National mission agency of American Baptist Churches USA supporting ministries, church planting, and community services. Parallel to CMB as a denominational administrative and ministry-support holding entity.
• Wesley Enhanced Living: Methodist-affiliated operator of continuing care retirement communities and senior living in Pennsylvania. Direct peer on the CCRC side, comparable in denomination-tied senior care delivery.
• Christian Living Communities: Faith-based nonprofit operating senior living, CCRC, and services for older adults across the Denver region. Comparable faith-based nonprofit CCRC model at more regional scale.

Broad incumbents

• Catholic Charities USA: Larger national faith-based network providing senior care, social services, disaster relief, and migration services across the United States. Operates at broader denominational scale than CMB but offers the closest comparable faith-based nonprofit service delivery model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/cmbministries
• LinkedInlinkedin.com/company/covenant-ministries-of-benevolence

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Covenant Ministries of Benevolence