Covenant Classical School

Nonprofit profile at a glance

EIN
561969559
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Concord, NC, USA
Phone
7047921854
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12

Official website

Reported finances

Revenue
$2,876,797
Expenses
$2,394,826
Assets
$4,740,615
Liabilities
$1,468,632

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

5 people listed

Highest reported compensation

  • DAWN RUSSELL (HEAD OF SCHOOL): $72,696 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Primary and secondary education

Operating model

Revenue model
Other-operating. 71% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 92
  • Accountability: 95
  • Sustainability: 64
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62.9%; rating input score 63
  • Program expense ratio: 75%; rating input score 75
  • Fundraising efficiency: $15.24 raised per $1 spent on fundraising; rating input score 51; 51st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 16.8%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 1.98; rating input score 61; 61st percentile among comparable filings
  • Liabilities to assets ratio: 0.31; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 3%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 5.2% per year; rating input score 100; 40th percentile among comparable filings
  • Revenue growth: 6% per year; rating input score 100; 48th percentile among comparable filings
  • Asset growth: 12.6% per year; rating input score 100; 68th percentile among comparable filings

Details

  • Where the money goes: 62.9% of revenue deployed · 75% of spending went to programs
  • Governance: 4 of 4 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.8M in reported program spending
  • Leadership: top reported pay $73K · 5 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Fundraising efficiency scored 51/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.