Covenant Preparatory School Inc

Analysis

Covenant Preparatory School Inc is a registered charity in United States, based in Southern Pines, NC. It received its IRS tax-exemption ruling in June 2014, 12 years ago. Its declared purposes cover education, which this site groups under education and training. 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 December 2022, Covenant Preparatory School Inc reported income of $261k and spending of $328k, spending 126% of what it took in. Across the 3 years on record, from December 2020 to December 2022, income fell from $261k to $261k (-0.2%), an average of -0.1% a year. The sharpest change came in the year to December 2021, when income rose by 26%. Over the whole period it spent 96% 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 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 57th percentile within NC. Charities of a similar size with the same main cause include Horticultural Therapy Institute ($261k), Cashmere Schools Foundation ($261k) and Leadership South Carolina ($260k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 4.2% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $40k (12% of expenses). Other salaries and wages came to $193k. At year end it held assets of $168k against liabilities of $5,659, net assets of $162k. It reported 27 employees.