Covenant Classical School

Nonprofit profile at a glance

EIN
752821065
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Fort Worth, TX, USA
Phone
8178200884
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Primary, Elementary Schools
Affiliation
Christianity

Reported finances

Revenue
$11,070,213
Expenses
$9,357,053
Assets
$28,022,288
Liabilities
$5,614,268

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

Leadership & pay

15 people listed

Executive titles in this filing

  • BEN COWAN (PRESIDENT)

Highest reported compensation

  • TROY SCHUKNECHT (HEAD OF SCHOOL): $224,457 total reported compensation
  • ANDREW JOHN ELIZALDE (ACADEMIC DEAN): $146,674 total reported compensation
  • JEREMY MARTIN (DIRECTOR OF ATHLETICS): $117,528 total reported compensation

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

Overview

Mission

To train our students to live and think according to a biblical christ-centered world view. We accomplish this by partnering with parents to provide a rigorous, classical education that instills a lifelong love of learning.

What it reported doing in 2024

To provide k-12 private classical school education.

Operating model

Revenue model
Earned-program. 72% of the money available for current operations came from fees and other program 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

SUPPORTED - Most voting board members are independent and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 56
  • Transparency & Controls: 60
  • Accountability: 90
  • Sustainability: 71
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 55.7%; rating input score 56
  • Program expense ratio: 66.6%; rating input score 67
  • Fundraising efficiency: $6.29 raised per $1 spent on fundraising; rating input score 26; 26th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 15.5%; rating input score 77; 77th percentile among comparable filings
  • Total-asset coverage ratio: 2.99; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 0.2; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 5.2%; rating input score 49; 49th percentile among comparable filings

Growth

  • Program expense growth: 9.1% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: 9.2% per year; rating input score 100; 71st percentile among comparable filings
  • Asset growth: 9% per year; rating input score 100; 60th percentile among comparable filings

Details

  • Where the money goes: 55.7% of revenue deployed · 66.6% of spending went to programs
  • Governance: 12 of 12 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $6.2M in reported program spending
  • Leadership: top reported pay $224K · 15 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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: Mission deployment rate scored 56/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 26/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 49/100.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.