Covenant Academy
- Assets
- $1.9m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 107
- Location
- Crossville, TN
- Founding
- 06/2007
- Data as of
- 05/2024
- EIN
- 14-1961130
Organization Overview
Covenant Academy is located in Crossville, TN. The organization was established in 2007. 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 05/2024, Covenant Academy employed 107 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Covenant Academy 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 05/2024, Covenant Academy generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $1.5m during the year ending 05/2024. While expenses have increased by 11.1% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
ELEMENTARY AND HIGH SCHOOL EDUCATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE HAVE STUDENTS ENROLLED IN OUR CLASSES THAT RANGE FROM PRE-K THROUGH GRADE 12. ALL OF OUR EFFORTS HAVE BEEN CENTERED AROUND PROVIDING THESE CHILDREN AN ACADEMICALLY EXCELLENT EDUCATION AS WELL AS A STRONG CHRISTIAN ATMOSPHERE WITH BIBLICAL TEACHING WOVEN INTO EVERY ASPECT OF THEIR EDUCATION IN ORDER TO PRODUCE THE MOST GODLY, INTELLIGENT, WELL PREPARED STUDENTS POSSIBLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kim Wattenbarger Principal | Trustee | 40 | $41,425 |
Kelly Dechristofaro Secretary | Officer | 40 | $30,562 |
Daniel Patterson Director | Trustee | 1 | $0 |
Doug Reid Treasurer | OfficerTrustee | 1 | $0 |
Adam Singh Director | Trustee | 1 | $0 |
Bob Tolich Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $96,672 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $96,672 |
| Total Program Service Revenue | $1,406,831 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $34,520 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,538,023 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $962,695 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $67,310 |
| Payroll taxes | $80,104 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,860 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,820 |
| Advertising and promotion | $786 |
| Office expenses | $10,003 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $140,231 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $36,792 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $51,678 |
| Insurance | $21,658 |
| All other expenses | $5,499 |
| Total functional expenses | $1,543,783 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $98,900 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $1,277,156 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $3,722 |
| Other assets | $510,096 |
| Total assets | $1,889,874 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,248,271 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $12,946 |
| Total liabilities | $1,261,217 |
| Net assets without donor restrictions | $628,657 |
| Net assets with donor restrictions | $0 |
| 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 | $1,889,874 |