Covenant School Inc
- Assets
- $15.7m
- Revenue
- $15.9m
- Investments
- $0.0
- Employees
- 233
- Location
- Charlottesville, VA
- Founding
- 05/1985
- Data as of
- 06/2023
- EIN
- 54-1274746
Organization Overview
Covenant School Inc is located in Charlottesville, VA. The organization was established in 1985. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2023, Covenant School Inc employed 233 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Covenant School 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 06/2023, Covenant School Inc generated $15.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $14.8m during the year ending 06/2023. While expenses have increased by 4.2% per year over the past 8 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
PROMOTE THE MORAL, INTELLECTUAL, AND PHYSICAL DEVELOPMENT OF YOUNG PEOPLE. (SEE SCHEDULE O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COVENANT SCHOOL IS AN INDEPENDENT CHRISTIAN SCHOOL PROVIDING EDUCATIONAL SERVICE TO APPROXIMATELY 700 STUDENTS GRADES PRE-KINDERGARTEN THROUGH 12TH GRADE.
FINANCIAL ASSISTANCE (FINANCIAL AID AND SCHOLARSHIPS) WAS PROVIDED TO 325 STUDENTS DURING THE ACADEMIC YEAR.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Bradley R Baggett Head Of School | Officer | 45 | $136,613 |
Mr Frank Berry Cfo/coo | Officer | 45 | $197,042 |
Mrs Wendy Hill Director Of Accounting | 45 | $107,975 | |
Mr William Fulkerson Chair | OfficerTrustee | 10 | $0 |
Mrs Polly Lawson Secretary | OfficerTrustee | 4 | $0 |
Mr Robert Wood Treasurer | OfficerTrustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Southern Air Inc Hvac Installation | 6/29/23 | $1,695,510 |
Gt Weeks Construction | 6/29/23 | $329,436 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $27,243 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,291,617 |
| Noncash contributions included in lines 1a–1f | $29,891 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,318,860 |
| Total Program Service Revenue | $14,429,245 |
| Investment income | $3,604 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $54,401 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $35,750 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $55,107 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,896,967 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,888,585 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $384,285 |
| Compensation of current officers, directors, key employees. | $203,087 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,216,412 |
| Pension plan accruals and contributions | $200,013 |
| Other employee benefits | $669,080 |
| Payroll taxes | $549,351 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,061 |
| Fees for services: Accounting | $51,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,120 |
| Advertising and promotion | $31,007 |
| Office expenses | $239,324 |
| Information technology | $70,117 |
| Royalties | $0 |
| Occupancy | $467,121 |
| Travel | $37,589 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $192,875 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $844,539 |
| Insurance | $114,928 |
| All other expenses | $284,213 |
| Total functional expenses | $14,756,713 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $300 |
| Savings and temporary cash investments | $1,649,137 |
| Pledges and grants receivable | $658,381 |
| Accounts receivable, net | $9,140 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $63,660 |
| Prepaid expenses and deferred charges | $149,844 |
| Net Land, buildings, and equipment | $12,082,743 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,070,207 |
| Total assets | $15,683,412 |
| Accounts payable and accrued expenses | $764,744 |
| Grants payable | $0 |
| Deferred revenue | $1,605,873 |
| Tax-exempt bond liabilities | $4,890,843 |
| 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 | $43,715 |
| Total liabilities | $7,305,175 |
| Net assets without donor restrictions | $7,392,649 |
| Net assets with donor restrictions | $985,588 |
| 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 | $15,683,412 |