Covenant Preparatory School Inc
- Assets
- $158.0k
- Revenue
- $837.5k
- Investments
- $0.0
- Employees
- 19
- Location
- Hartford, CT
- Founding
- 06/2008
- Data as of
- 06/2021
- EIN
- 74-3238578
Organization Overview
Covenant Preparatory School Inc is located in Hartford, CT. The organization was established in 2008. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2021, Covenant Preparatory School Inc employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Covenant Preparatory 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 06/2021, Covenant Preparatory School Inc generated $837.5k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $776.5k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (3.1%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION HAS ESTABLISHED A TUITION-FREE MIDDLE SCHOOL FOR BOYS FROM LOWER INCOME FAMILIES IN HARTFORD, CT. THE CORPORATION STRIVES TO PROVIDE A CHALLENGING AND SUPPORTIVE LEARNING ENVIRONMENT FOR STUDENTS OF ALL FAITHS, TO PREPARE THE STUDENTS FOR FURTHER EDUCATION UPON GRADUATION FROM MIDDLE SCHOOL, AND TO INSPIRE YOUNG MEN TO LEAD THEIR LIVES WITH HUMILITY AND DEDICATION TOWARD SERVING OTHERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION HAS ESTABLISHED A TUITION-FREE MIDDLE SCHOOL FOR BOYS FROM LOWER INCOME FAMILIES IN HARTFORD, CT. THE INITIAL YEAR BEGAN SEPTEMBER, 2008. THE SCHOOL SERVES APPROXIMATELY 47 YOUNG BOYS AT THE FIFTH THROUGH EIGHTH GRADE LEVELS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Armando Jimenez Head Of School (until 11/21) | Officer | 50 | $56,239 |
Anthony Oh Executive Chair | OfficerTrustee | 1 | $0 |
Keith J Hubert Audit Chair | OfficerTrustee | 1 | $0 |
Mark Niland Treasurer (until 11/21) | OfficerTrustee | 1 | $0 |
James W Bergenn Governance Chair | OfficerTrustee | 1 | $0 |
Mark Bertolami Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $163,375 |
| Related organizations | $0 |
| Government grants | $93,233 |
| All other contributions, gifts, grants, and similar amounts not included above | $584,280 |
| Noncash contributions included in lines 1a–1f | $18,995 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $840,888 |
| Total Program Service Revenue | $0 |
| 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 | -$3,346 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $837,542 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $250 |
| Grants and other assistance to domestic individuals. | $17,046 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $78,285 |
| Compensation of current officers, directors, key employees. | $19,571 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $377,232 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $43,246 |
| Payroll taxes | $35,623 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,379 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,962 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,289 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $105,836 |
| Travel | $9,294 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,904 |
| Insurance | $18,803 |
| All other expenses | $1,029 |
| Total functional expenses | $776,538 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $65,716 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $63,800 |
| 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 | $4,146 |
| Net Land, buildings, and equipment | $24,385 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $158,047 |
| Accounts payable and accrued expenses | $18,411 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $18,411 |
| Net assets without donor restrictions | $17,155 |
| Net assets with donor restrictions | $122,481 |
| 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 | $158,047 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Covenant Preparatory School Inc has recieved totaling $112,071.
| Awarding Organization | Amount |
|---|---|
Digel Family Foundation West Hartford, CT PURPOSE: GENERAL SUPPORT | $52,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $40,050 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $10,492 |
Rochester Area Community Foundation Rochester, NY PURPOSE: TO HELP URBAN STUDENTS GET A BETTER EDUCATION | $8,000 |
John And Kelly Hartman Foundation West Hartford, CT PURPOSE: CURRENT USE FOR CHARITABLE PURPOSES | $1,000 |
Byer Family Foundation Boca Raton, FL PURPOSE: SUPPORT | $400 |
Endowment Analysis
| Beg. Balance | $11,515 |
| Earnings | $3,385 |
| Admin Expense | $71 |
| Grants | $567 |
| Ending Balance | $14,262 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Democracy Prep New York Charter Schools Bronx, NY | $67,527,043 | $86,404,779 |
Greenwich Country Day School Inc Greenwich, CT | $332,908,976 | $95,548,707 |
Grace Church School New York, NY | $124,238,513 | $52,477,666 |
Dexter Southfield Inc Brookline, MA | $119,216,504 | $58,438,330 |
Calhoun School Inc New York, NY | $66,556,667 | $39,561,327 |
Saint Davids School New York, NY | $170,289,488 | $33,366,978 |
Hewitt School New York, NY | $78,957,035 | $33,976,072 |
Buckley School In The City Of New York New York, NY | $138,732,019 | $33,895,115 |
Shady Hill School Cambridge, MA | $107,959,883 | $31,295,266 |
Bnos Bais Yaakov Of Far Rockaway Far Rockaway, NY | $26,507,044 | $28,668,399 |
City And Country School Inc New York, NY | $49,971,219 | $22,042,063 |
Wilbraham & Monson Academy Wilbraham, MA | $39,033,544 | $22,102,738 |