Covenant Christian Academy Inc
- Assets
- $13.8m
- Revenue
- $6.6m
- Investments
- $0.0
- Employees
- 108
- Location
- Peabody, MA
- Founding
- 05/1994
- Data as of
- 06/2022
- EIN
- 04-3170101
Organization Overview
Covenant Christian Academy Inc is located in Peabody, MA. The organization was established in 1994. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Covenant Christian Academy Inc employed 108 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Covenant Christian Academy Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Covenant Christian Academy Inc generated $6.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.7% each year. All expenses for the organization totaled $5.9m during the year ending 06/2022. While expenses have increased by 7.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ELEMENTARY AND HIGH SCHOOL EDUCATION FOR GRADES PRE-K THROUGH GRADE 12.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE EDUCATION FOR STUDENTS IN PRE-K THROUGH GRADE 12
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Anastasi CFO | Officer | 50 | $87,756 |
Andrea Bergstrom Head Of School | Officer | 50 | $94,661 |
Leslie Baird Vice Chair | Trustee | 5 | $0 |
Chrystal Porter Board Member | Trustee | 5 | $0 |
Melissa Chang Secretary | Trustee | 5 | $0 |
Ryan Plosker Chair | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $166,754 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $166,754 |
| Total Program Service Revenue | $5,872,895 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $16,170 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,568,954 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,120,914 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,748,332 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $236,213 |
| Payroll taxes | $231,075 |
| Fees for services: Management | $46,020 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $75,382 |
| Advertising and promotion | $27,121 |
| Office expenses | $214,811 |
| Information technology | $101,483 |
| Royalties | $0 |
| Occupancy | $171,682 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,599 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $375,337 |
| Insurance | $46,371 |
| All other expenses | $375,569 |
| Total functional expenses | $5,940,448 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,320,770 |
| Pledges and grants receivable | $27,301 |
| Accounts receivable, net | $18,714 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $10,164,022 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $252,927 |
| Total assets | $13,783,734 |
| Accounts payable and accrued expenses | $336,455 |
| Grants payable | $0 |
| Deferred revenue | $2,010,157 |
| Tax-exempt bond liabilities | $6,862,672 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $54,124 |
| Total liabilities | $9,263,408 |
| Net assets without donor restrictions | $4,520,126 |
| Net assets with donor restrictions | $200 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $13,783,734 |