Covenant Classical School

Analysis

Covenant Classical School is a registered charity in United States, based in Concord, NC. It received its IRS tax-exemption ruling in March 1997, 29 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 Classical School reported income of $2.4m and spending of $2.3m, spending 98% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.8m to $2.4m (+33%), an average of +7.4% a year. The sharpest change came in the year to June 2021, when income rose by 19%. Over the whole period it spent 91% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Covenant Classical School sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within NC. Charities of a similar size with the same main cause include Doral Academy of Colorado Inc ($2.4m), Panola School ($2.4m) and Oakland Museum Womens Board ($2.4m).

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. Other salaries and wages came to $1.4m. At year end it held assets of $4.3m against liabilities of $1.5m, net assets of $2.8m. It reported 57 employees.