Covenant Clearinghouse Announces Year-End Charitable Funding

AUSTIN, Texas, Feb. 19, 2025 /PRNewswire/ -- Covenant Clearinghouse, the nation's largest servicer of real estate assessments, is pleased to announce its 2024 year-end charitable funding, supporting a wide range of community-focused organizations across the country.

"CASA (Court Appointed Special Advocates) does incredibly important work in communities across the country and is quickly becoming one of our favorite causes to support," said Shannon Everson, Vice President of Covenant Clearinghouse. This year's CASA recipients serve numerous Texas counties-including Bexar, Denton, Ellis, Guadalupe, Hood, Johnson, Matagorda and Tarrant-as well as communities outside of Texas.

In addition to CASA, 2024 funding recipients include diverse community groups like:

• Food banks supporting families facing food insecurity
• Breast cancer assistant centers providing critical care and support
• Affordable housing advocates, like Texas-based Casa Tierra SA
• The Colorado Watershed Council, promoting environmental conservation,
• Florida-based citizen organizations dedicated to local preservation initiatives

Past recipients include volunteer fire departments, no-kill animal shelters, domestic violence shelters, and other essential community programs. A full list of recipients can be found at https://covenantclearinghouse.com/charities/

A Sustainable Model for Charitable Giving. Covenant Clearinghouse distributes non-profit funding through capital recovery fees (also called transfer fees) created by deed restrictions placed on large real estate developments. These fees fairly and equitably allocate infrastructure costs over time, reducing upfront acquisition costs and improving financing accessibility.

As part of its commitment to community impact, Covenant Clearinghouse only administers deed restrictions that irrevocably allocate at least five percent of gross assessment income to nonprofit organizations benefiting the community. Given the nationwide portfolio of real estate projects administered nationwide, Covenant Clearinghouse anticipates significant distributions to nonprofits during the lifespan of the assessments.

"This sustainable funding source is more important than ever, especially in these times of strained public resources," Everson said. "To maximize the public benefit, Covenant Clearinghouse does not take, and does not pass through to anyone else, a charitable contribution tax deduction for the funds we distribute,"Everson added.

About Covenant Clearinghouse: For over a decade, Austin-based Covenant Clearinghouse has served as trustee in the administration of assessment rights - also called capital recovery fees or transfer fees - created in connection with hundreds of billions of dollars of planned and existing commercial and residential real estate projects in order to fairly and equitably apportion development costs, lower the burden of home ownership, and provide long-term sustainable funding for non-profits.

For more information, visit www.covenantclearinghouse.com

Media contact: Megan Alderman, [emailprotected]

SOURCE Covenant Clearinghouse LLC