Morristown Covenant Academy

Analysis

Morristown Covenant Academy is a registered charity in United States, based in Morristown, TN. It received its IRS tax-exemption ruling in March 2009, 17 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2023, Morristown Covenant Academy reported income of $328k and spending of $356k, spending 109% of what it took in. Across the 2 years on record, from July 2021 to July 2023, income grew from $269k to $328k (+22%), an average of +22% a year. The sharpest change came in the year to July 2023, when income rose by 22%. Over the whole period it spent 109% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Morristown Covenant Academy sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 64th percentile within TN. Charities of a similar size with the same main cause include Calculated Genius Inc ($328k), Center for Employment Education ($328k) and Black Alabamians for Educational Options ($328k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 4.6% and program service revenue 95% of the total. Other salaries and wages came to $236k. At year end it held assets of $188k against liabilities of $42k, net assets of $146k. It reported 16 employees.