Covenant College Inc

Analysis

Covenant College Inc is a registered charity in United States, based in Lookout MTN, GA. It received its IRS tax-exemption ruling in September 1957, 69 years ago. Its declared purposes cover education, which this site groups under education and training. 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 College Inc reported income of $49.7m and spending of $53.2m, spending 107% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $52.1m to $49.7m (-4.5%), an average of -1.2% a year. Over the whole period it spent 99% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Covenant College Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within GA. Charities of a similar size with the same main cause include Mary C Wheeler School Inc ($49.6m), Minerva University ($49.8m) and Flint Hill School ($49.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 15% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $676k (1.3% of expenses). Other salaries and wages came to $14.4m. At year end it held assets of $99.7m against liabilities of $2.7m, net assets of $97.0m. It reported 953 employees.