New Covenant Academy

Analysis

New Covenant Academy is a registered charity in United States, based in Springfield, MO. It received its IRS tax-exemption ruling in October 1981, 45 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, New Covenant Academy reported income of $7.1m and spending of $6.6m, spending 93% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $5.5m to $7.1m (+28%), an average of +8.5% a year. The sharpest change came in the year to June 2021, when income rose by 17%. Over the whole period it spent 84% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Covenant Academy 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 92nd percentile within MO. Charities of a similar size with the same main cause include Rock of Ages Ministries Inc ($7.1m), Tri-Valley Haven for Women ($7.1m) and Boys & Girls Clubs of Southeastern ($7.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 11% and program service revenue 87% of the total. Other salaries and wages came to $3.8m. At year end it held assets of $22.2m against liabilities of $5.7m, net assets of $16.5m. It reported 172 employees.