Covenant Preparatory School Inc

Analysis

Covenant Preparatory School Inc is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in June 2008, 18 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 2023, Covenant Preparatory School Inc reported income of $1.1m and spending of $1.1m, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $836k to $1.1m (+33%), an average of +7.4% a year. The sharpest change came in the year to June 2022, when income rose by 23%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Covenant Preparatory School 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 79th percentile within CT. Charities of a similar size with the same main cause include Roc Charlotte Inc ($1.1m), Riverdale Academy Inc ($1.1m) and Tilden School ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 102% of the total. Compensation of current officers, directors and key employees was $95k (8.8% of expenses). Other salaries and wages came to $428k. At year end it held assets of $592k against liabilities of $267k, net assets of $325k. It reported 16 employees.