Covenant Academy Florida Inc

Analysis

Covenant Academy Florida Inc is a registered charity in United States, based in Seminole, FL. It received its IRS tax-exemption ruling in May 2015, 11 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 2024, Covenant Academy Florida Inc reported income of $1.1m and spending of $830k, leaving 25% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $378k to $1.1m (+192%), an average of +31% a year. The sharpest change came in the year to June 2023, when income rose by 53%. Over the whole period it spent 88% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Covenant Academy Florida Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 82nd percentile within FL. Charities of a similar size with the same main cause include California Preparatory College Inc ($1.1m), State University of New York at Binghamton Alumni Association Inc ($1.1m) and Wiregrass Christian Academy ($1.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 14% and program service revenue 86% of the total. Other salaries and wages came to $565k. At year end it held assets of $895k against liabilities of $5,501, net assets of $889k. It reported 20 employees.