Covington Partners Inc

Nonprofit profile at a glance

EIN
201515753
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Covington, KY, USA
Phone
5133739035
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$2,224,804
Expenses
$1,565,052
Assets
$1,887,985
Liabilities
$428,161

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

Leadership & pay

23 people listed

Highest reported compensation

  • Neena Volk (Chief Operating Officer): $14,746 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 reduce barriers to student learning in order to advance education among students

What it reported doing in 2024

Mentoring and Out of School Time In partnership with the local school districts, community members engage as a positive adult role model to Covington youth through the Organizations Mentoring Program. Mentors can choose to work with students of all ages in a program that meets their interests. Out of School Time programs (after school, morning and summer) provide academic enrichment and skill development opportunities during non-school hours for students, families and neighbors. This program helps students meet state and local academic standards in core academic subjects, such as reading and math; offer students a broad array of enrichment activities that can complement their regular academic programs; and offer literacy and other educational services to families and neighbors. Each school in the Covington Independent School District provides an Out of School Time program, managed by the sites Community Learning Center (CLC) coordinator. During the year, this program was expanded to include more local school districts.

Operating model

Revenue model
Donor-supported. 63% of the money available for current operations came from contributions and gifts.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 87
  • Accountability: 90
  • Sustainability: 67
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62.1%; rating input score 62
  • Program expense ratio: 87.6%; rating input score 88
  • Fundraising efficiency: $43.36 raised per $1 spent on fundraising; rating input score 76; 76th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 23rd 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: 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 29.7%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 1.21; rating input score 44; 44th percentile among comparable filings
  • Liabilities to assets ratio: 0.23; rating input score 41; 41st percentile among comparable filings
  • Officer compensation ratio: 0.9%; rating input score 80; 80th percentile among comparable filings

Growth

  • Program expense growth: 15.1% per year; rating input score 100; 78th percentile among comparable filings
  • Revenue growth: 13% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: 11.1% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: 62.1% of revenue deployed · 87.6% of spending went to programs
  • Governance: 22 of 22 board members independent · 6 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $1.4M in reported program spending
  • Leadership: top reported pay $15K · 23 people listed
  • Consistency: 28 of 29 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Accountability: Governance controls: 2 of 8 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Total-asset coverage ratio scored 44/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 41/100.