Covenant School Inc
- Assets
- $15.2m
- Revenue
- $14.5m
- Investments
- $0.0
- Employees
- 220
- Location
- Charlottesville, VA
- Founding
- 05/1985
- Data as of
- 06/2022
- 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 06/2022, Covenant School Inc employed 220 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 06/2022, Covenant School Inc generated $14.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $13.0m during the year ending 06/2022. While expenses have increased by 2.9% 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
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 650 STUDENTS GRADES PRE-KINDERGARTEN THROUGH 12TH GRADE.
FINANCIAL ASSISTANCE (FINANCIAL AID AND SCHOLARSHIPS) WAS PROVIDED TO 268 STUDENTS DURING THE ACADEMIC YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Frank Berry Interim Head Of School, Cfo, & COO | Officer | 60 | $206,221 |
Mr George Sanker Former Head Of School | Officer | 45 | $148,731 |
Mrs Mo Gaffney Head Of Lower School | 45 | $123,890 | |
Mrs Wendy Hill Director Of Accounting | 45 | $102,301 | |
Mr John Barr Director Of Institutional Advancement | 45 | $100,572 | |
Mrs Polly Lawson Secretary | OfficerTrustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gt Weeks General Contractor | 6/29/22 | $250,000 |
Southern Air Inc Heating And Ac Services | 6/29/22 | $157,864 |
Gilbert Investment Group Llc Cleaning And Costodian Services | 6/29/22 | $120,713 |
Winkler Consulting Group Inc Fundraising And Capital Campaign Service | 6/29/22 | $116,088 |
Carterbaldwin Executive Recruiters | 6/29/22 | $103,019 |
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 | $1,540,090 |
| Noncash contributions included in lines 1a–1f | $240,108 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,540,090 |
| Total Program Service Revenue | $12,769,659 |
| Investment income | $1,070 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $38,817 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $67,136 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $48,119 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,464,891 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,650,051 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $249,535 |
| Compensation of current officers, directors, key employees. | $99,771 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,401,248 |
| Pension plan accruals and contributions | $178,202 |
| Other employee benefits | $412,486 |
| Payroll taxes | $492,993 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $54,772 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $36,888 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $106,782 |
| Advertising and promotion | $31,073 |
| Office expenses | $223,447 |
| Information technology | $64,892 |
| Royalties | $0 |
| Occupancy | $238,259 |
| Travel | $29,130 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $177,208 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $727,089 |
| Insurance | $98,962 |
| All other expenses | $223,113 |
| Total functional expenses | $12,998,700 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $300 |
| Savings and temporary cash investments | $2,196,132 |
| Pledges and grants receivable | $1,168,893 |
| Accounts receivable, net | $17,154 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $41,285 |
| Prepaid expenses and deferred charges | $54,473 |
| Net Land, buildings, and equipment | $10,521,922 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,174,250 |
| Total assets | $15,174,409 |
| Accounts payable and accrued expenses | $1,424,687 |
| Grants payable | $0 |
| Deferred revenue | $1,436,391 |
| Tax-exempt bond liabilities | $5,202,895 |
| 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 | $43,029 |
| Total liabilities | $8,107,002 |
| Net assets without donor restrictions | $5,152,668 |
| Net assets with donor restrictions | $1,914,739 |
| 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 | $15,174,409 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Covenant School Inc has recieved totaling $164,456.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $55,200 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $32,000 |
Micah 6-8 Foundation Crozet, VA PURPOSE: GENERAL PURPOSES OF DONEE | $30,000 |
Tiff Charitable Foundation Wilmington, DE PURPOSE: TEACHER SALARIES AND CLASSROOM RESOURCES | $25,000 |
The Richard And Leslie Gilliam Foundation Charlottesville, VA PURPOSE: EDUCATION | $10,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $8,693 |
Endowment Analysis
| Beg. Balance | $599,554 |
| Earnings | -$69,591 |
| Admin Expense | $65 |
| Net Contributions | $17,373 |
| Grants | $31,890 |
| Ending Balance | $515,381 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Protestant Episcopal High School In Virginia Alexandria, VA | $560,084,637 | $67,951,795 |
The Baylor School Chattanooga, TN | $270,105,763 | $47,683,171 |
Gilman School Inc Baltimore, MD | $238,892,271 | $38,036,593 |
Woodberry Forest School Woodberry Forest, VA | $643,383,708 | $54,060,513 |
Holton-Arms School Inc Bethesda, MD | $133,918,121 | $38,119,997 |
University Of Nashville Montgomery Bell Academy Nashville, TN | $303,405,415 | $41,667,135 |
St Andrews Episcopal School Inc Potomac, MD | $83,174,031 | $30,817,454 |
Severn School Inc Severna Park, MD | $70,000,569 | $28,689,233 |
Cary Academy Cary, NC | $92,134,722 | $26,213,526 |
Battle Ground Academy Of Franklin Tennessee Franklin, TN | $62,773,782 | $25,765,415 |
National Association Of Secondary -School Principals Reston, VA | $56,104,392 | $28,736,000 |
Asheville School Incorporated Asheville, NC | $109,072,100 | $30,624,972 |