Covenant Knights School
- Assets
- $68.6m
- Revenue
- $15.9m
- Investments
- $0.0
- Employees
- 188
- Location
- Dallas, TX
- Founding
- 08/1997
- Data as of
- 06/2022
- EIN
- 75-2642656
Organization Overview
Covenant Knights School is located in Dallas, TX. The organization was established in 1997. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 06/2022, Covenant Knights School employed 188 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Covenant Knights 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 06/2022, Covenant Knights School generated $15.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.7% each year. All expenses for the organization totaled $14.6m during the year ending 06/2022. While expenses have increased by 7.7% 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
THE COVENANT SCHOOL EXISTS TO GLORIFY GOD BY EQUIPPING STUDENTS WITH THE TOOLS NECESSARY TO PURSUE A LIFETIME OF LEARNING SO THAT THEY MAY DISCERN, REASON, AND DEFEND TRUTH IN SERVICE TO OUR LORD, JESUS CHRIST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONVENANT KNIGHT SCHOOL BEGAN THE YEAR WITH 685 STUDENTS. A CURRICULUM AND COURSE OF STUDY WAS CONTINUED FOR GRADES K THROUGH 12, INCLUDING REGULAR GRADING AND TESTING PERIODS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Koerner Sustaining Member | Trustee | 5 | $0 |
Gregg Hodges M D Sustaining Member | Trustee | 2 | $0 |
Eliot Kerlin Chairman | Trustee | 5 | $0 |
Amy Anderson Vice Chairperson | Trustee | 10 | $0 |
Jeff Walker Secretary | Trustee | 2 | $0 |
Brian Mcfarlane Facilities Liaison | Trustee | 8 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $2,562,541 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $566,240 |
| Noncash contributions included in lines 1a–1f | $234,797 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,128,781 |
| Total Program Service Revenue | $12,443,722 |
| Investment income | $10,563 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $19,727 |
| Net Income from Fundraising Events | $208,563 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,939,967 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,152,875 |
| 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 | $6,826,824 |
| Pension plan accruals and contributions | $219,717 |
| Other employee benefits | $1,044,493 |
| Payroll taxes | $501,364 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,485 |
| Fees for services: Accounting | $50,707 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $143,639 |
| Office expenses | $18,823 |
| Information technology | $11,495 |
| Royalties | $0 |
| Occupancy | $251,448 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,028,307 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,246,186 |
| Insurance | $190,230 |
| All other expenses | $0 |
| Total functional expenses | $14,579,471 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,499,169 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $157,213 |
| 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 | $166,894 |
| Net Land, buildings, and equipment | $34,076,528 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $28,729,288 |
| Total assets | $68,629,092 |
| Accounts payable and accrued expenses | $7,199,515 |
| Grants payable | $0 |
| Deferred revenue | $6,155,196 |
| 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 | $11,722,541 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $16,628,689 |
| Total liabilities | $41,705,941 |
| Net assets without donor restrictions | $23,689,615 |
| Net assets with donor restrictions | $3,233,536 |
| 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 | $68,629,092 |