Covenant School
- Assets
- $866.9k
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 45
- Location
- Greensboro, NC
- Founding
- 06/2017
- Data as of
- 06/2023
- EIN
- 47-3758268
Organization Overview
Covenant School is located in Greensboro, NC. The organization was established in 2017. 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 06/2023, Covenant School employed 45 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Covenant School 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 06/2023, Covenant School generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 34.5% each year . All expenses for the organization totaled $1.2m during the year ending 06/2023. While expenses have increased by 35.3% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO EDUCATE STUDENTS UTILIZING THE UNIVERSITY-MODEL EDUCATION TO PREPARE STUDENTS ACADEMICALLY AND SPIRITUALLY WHILE CULTIVATING BOTH THE RELATIONSHIPS BETWEEN JESUS AND CHILDREN AND PARENTS AND CHILDREN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO EDUCATE STUDENTS UTILIZING THE UNIVERSITY-MODEL EDUCATION TO PREPARE STUDENTS ACADEMICALLY AND SPIRITUALLY WHILE CULTIVATING BOTH THE RELATIONSHIPS BETWEEN JESUS AND CHILDREN AND PARENTS AND CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Drew Hill Director/hea | Trustee | 40 | $120,174 |
Amy Sasser Director/ope | Trustee | 40 | $26,000 |
Jessica Duke Secretary | OfficerTrustee | $0 | |
William G Duke Treasurer | OfficerTrustee | $0 | |
Natalie Hill Director | Trustee | $0 | |
Kevin Sasser Chairman | Trustee | $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 | $40,633 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $40,633 |
| Total Program Service Revenue | $1,170,065 |
| Investment income | $18,352 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$140 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,228,910 |
| 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 | $909,294 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,890 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $23,197 |
| Information technology | $20,028 |
| Royalties | $0 |
| Occupancy | $118,295 |
| Travel | $6,293 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,055 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,532 |
| All other expenses | $17,105 |
| Total functional expenses | $1,214,479 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $278,963 |
| Savings and temporary cash investments | $350,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,575 |
| 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 | $0 |
| Investments—publicly traded securities | $231,055 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,300 |
| Total assets | $866,893 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $120,502 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $15,302 |
| Total liabilities | $135,804 |
| Net assets without donor restrictions | $731,089 |
| 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 | $866,893 |