Covenant Christian Academy Inc

Analysis

Covenant Christian Academy Inc is a registered charity in United States, based in Peabody, MA. It received its IRS tax-exemption ruling in May 1994, 32 years ago. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Covenant Christian Academy Inc reported income of $7.4m and spending of $7.0m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.9m to $7.4m (+49%), an average of +10% a year. The sharpest change came in the year to June 2022, when income rose by 23%. Over the whole period it spent 88% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Covenant Christian Academy Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within MA. Charities of a similar size with the same main cause include Massachusetts Golf Association Inc ($7.4m), New Way Academy ($7.4m) and Incarnate Word High School ($7.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 4.5% and program service revenue 93% of the total. Other salaries and wages came to $3.2m. At year end it held assets of $15.0m against liabilities of $10.1m, net assets of $4.9m. It reported 108 employees.