Covenant Academies Foundation

Analysis

Covenant Academies Foundation is a registered charity in United States, based in Muskegon, MI. It received its IRS tax-exemption ruling in April 2016, 10 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Covenant Academies Foundation reported income of $1.1m and spending of $788k, leaving 30% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.1m to $1.1m (-1.8%), an average of -0.4% a year. Over the whole period it spent 81% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Covenant Academies Foundation sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 81st percentile within MI. Charities of a similar size with the same main cause include Connecticut Youth Services Association ($1.1m), Red Wing Youth Outreach Program Inc ($1.1m) and Boy Scouts of America ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 2.5% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $307k (39% of expenses). Other salaries and wages came to $15k. At year end it held assets of $3.2m against liabilities of $963k, net assets of $2.2m.