The Covenant School

Nonprofit profile at a glance

EIN
621874922
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
Nashville, TN, USA
Phone
6154672313
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Primary, Elementary Schools

Official website

Reported finances

Revenue
$4,217,171
Expenses
$4,813,812
Assets
$2,223,140
Liabilities
$1,378,807

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

Leadership & pay

18 people listed

Highest reported compensation

  • TRUDY WATERS (HEAD OF SCHO): $124,358 total reported compensation
  • ELIZABETH GAMMONS (DIR. FINANCE): $106,358 total reported compensation
  • KELLY FULLER (HEAD OF LOWE): $81,252 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 assist christian parents by providing an exceptional academic education informed by the word of god. Our students are known, loved, and prepared to go into the world courageously as image-bearers of christ.

What it reported doing in 2024

The covenant school is a christ-centered independent school serving children in preschool through sixth grade. The school assists christian parents by providing an exceptional academic education informed by the word of god. As covenant celebrates childhood, students are known, loved, and prepared to go into the world courageously as image-bearers of christ. During the fiscal year, covenant continued to deliver a comprehensive educational program that integrates academic excellence, spiritual formation, and whole-child development. Students engaged daily in a robust curriculum emphasizing literacy, mathematics, science, the arts, and character formation, all within a nurturing environment that honors the joy, curiosity, and wonder of childhood.- continued on schedule o

Operating model

Revenue model
Earned-program. 69% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 93% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 94
  • Accountability: 92
  • Sustainability: 16
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.3%; rating input score 86
  • Program expense ratio: 75.5%; rating input score 75
  • Fundraising efficiency: $6.23 raised per $1 spent on fundraising; rating input score 23; 23rd 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: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 86.7%; rating input score 87; 18th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -14.1%; rating input score 10; 10th percentile among comparable filings
  • Total-asset coverage ratio: 0.46; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: 0.62; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 7.2%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 86.3% of revenue deployed · 75.5% of spending went to programs
  • Governance: 13 of 15 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $3.6M in reported program spending
  • Leadership: top reported pay $124K · 18 people listed
  • Consistency: 32 of 32 current checks pass
  • Schedules: 8 filed schedules · includes major donors and grants
  • Contacts: How to reach this organization
  • Money network: 4 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.

  • High — Financial Efficiency: Fundraising efficiency scored 23/100.
  • High — Sustainability: Operating margin scored 10/100.
  • High — Sustainability: Total-asset coverage ratio scored 16/100.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.