Covenant School Inc

Analysis

Covenant School Inc is a registered charity in United States, based in Charlottesvle, VA. It received its IRS tax-exemption ruling in May 1985, 41 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 2024, Covenant School Inc reported income of $18.0m and spending of $16.8m, spending 93% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $11.2m to $18.0m (+60%), an average of +12% a year. The sharpest change came in the year to June 2021, when income rose by 26%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Covenant School Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within VA. Charities of a similar size with the same main cause include Imran Khan Cancer Appeal Inc ($18.0m), Youth Enrichment Program of Wilson ($18.0m) and Brightpoint Care Inc ($18.0m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 6.3% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $499k (3.0% of expenses). Other salaries and wages came to $7.9m. At year end it held assets of $16.6m against liabilities of $7.0m, net assets of $9.6m. It reported 243 employees.