The Covenant Preparatory School
- Assets
- $6.5m
- Revenue
- $6.5m
- Investments
- $0.0
- Employees
- 78
- Location
- Kingwood, TX
- Founding
- 12/1993
- Data as of
- 07/2023
- EIN
- 76-0367761
Organization Overview
The Covenant Preparatory School is located in Kingwood, TX. The organization was established in 1993. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 07/2023, Covenant Preparatory School employed 78 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Covenant Preparatory 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 Preparatory School generated $6.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $3.7m during the year ending 07/2023. 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
THE COVENANT PREPARATORY SCHOOL ASSISTS PARENTS IN DEVELOPING INDIVIDUALS OF STRONG INTELLECT, SPIRIT, BODY, AND HEART BY PROVIDING A COLLEGE PREPARATORY EDUCATION TO PRE-KINDERGARTEN THROUGH TWELFTH GRADE STUDENTS GROUNDED IN CHRISTIAN VALUES AND BIBLICAL PRINCIPLES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHRISTIAN EDUCATION AND CHARACTER DEVELOPMENT.
CHRISTIAN EDUCATION AND CHARACTER DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lorraine Hill Head Of Scho | 40 | $123,000 | |
Kyle Lipstreu Chair | OfficerTrustee | $0 | |
Jeff Rogers Leadership | OfficerTrustee | $0 | |
Kenny Ryan Education Le | Trustee | $0 | |
Allison Trousdale Secretary | Trustee | $0 | |
Robert D White Treasurer | OfficerTrustee | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Community Counseling Service Consulting | 7/30/17 | $364,632 |
Zeigler Cooper Consulting | 7/30/17 | $156,500 |
Zeigler Cooper Consulting | 7/30/17 | $156,500 |
Community Counseling Service Consulting | 7/30/17 | $364,632 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $64,400 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $67,771 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $132,171 |
| Total Program Service Revenue | $3,636,640 |
| Investment income | $18,404 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $55,091 |
| Net Gain/Loss on Asset Sales | $2,632,798 |
| Net Income from Fundraising Events | -$11,381 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,463,723 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,216,885 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $39,181 |
| Royalties | $0 |
| Occupancy | $227,324 |
| 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 | $65,692 |
| Insurance | $78,025 |
| All other expenses | $0 |
| Total functional expenses | $3,673,732 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $932,007 |
| Savings and temporary cash investments | $4,267,047 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $154,262 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,018,848 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $159,626 |
| Total assets | $6,531,790 |
| Accounts payable and accrued expenses | $31,023 |
| Grants payable | $0 |
| Deferred revenue | $1,102,597 |
| 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 | $1,133,620 |
| Net assets without donor restrictions | $5,398,170 |
| Net assets with donor restrictions | $0 |
| 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 | $6,531,790 |