Covenant Classical School
- Assets
- $27.0m
- Revenue
- $8.8m
- Investments
- $0.0
- Employees
- 144
- Location
- Fort Worth, TX
- Founding
- 12/1999
- Data as of
- 07/2023
- EIN
- 75-2821065
Organization Overview
Covenant Classical School is located in Fort Worth, TX. The organization was established in 1999. 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 07/2023, Covenant Classical School employed 144 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Covenant Classical 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 07/2023, Covenant Classical School generated $8.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.1% each year. All expenses for the organization totaled $8.1m during the year ending 07/2023. While expenses have increased by 8.2% 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
TO TRAIN OUR STUDENTS TO LIVE AND THINK ACCORDING TO A BIBLICAL, CHRIST-CENTERED WORLD VIEW.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE K-12 PRIVATE CLASSICAL SCHOOL EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ben Cowan Board President | OfficerTrustee | 10 | $0 |
Scott Fredricks Member | Trustee | 10 | $0 |
Christian Ellis Member | Trustee | 10 | $0 |
Will Pickett Treasurer | OfficerTrustee | 10 | $0 |
Laura Jageman Secretary | OfficerTrustee | 10 | $0 |
Dr David Capper Member | Trustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $15,505 |
| Related organizations | $0 |
| Government grants | $609,799 |
| All other contributions, gifts, grants, and similar amounts not included above | $857,791 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,483,095 |
| Total Program Service Revenue | $6,467,802 |
| Investment income | $59,092 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $352,257 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,823,286 |
| 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. | $180,000 |
| Compensation of current officers, directors, key employees. | $135,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,050,309 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $527,640 |
| Payroll taxes | $329,205 |
| Fees for services: Management | $38,451 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $85,746 |
| Advertising and promotion | $44,735 |
| Office expenses | $399,498 |
| Information technology | $124,688 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $680,145 |
| Insurance | $102,633 |
| All other expenses | $396,044 |
| Total functional expenses | $8,134,670 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $303,456 |
| Savings and temporary cash investments | $5,979,341 |
| Pledges and grants receivable | $1,791,947 |
| Accounts receivable, net | $294,010 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $763 |
| Prepaid expenses and deferred charges | $141,121 |
| Net Land, buildings, and equipment | $18,528,169 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $990 |
| Total assets | $27,039,797 |
| Accounts payable and accrued expenses | $547,957 |
| Grants payable | $0 |
| Deferred revenue | $4,544,917 |
| 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 | $3,166,965 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $8,259,839 |
| Net assets without donor restrictions | $14,809,522 |
| Net assets with donor restrictions | $3,970,436 |
| 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 | $27,039,797 |