Covington Classical Academy Inc

Analysis

Covington Classical Academy Inc is a registered charity in United States, based in Covington, KY. It received its IRS tax-exemption ruling in January 2021, 5 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, Covington Classical Academy Inc reported income of $426k and spending of $398k, spending 93% of its income. Across the 2 years on record, from June 2022 to June 2023, income grew from $244k to $426k (+75%), an average of +74% a year. The sharpest change came in the year to June 2023, when income rose by 75%. Over the whole period it spent 106% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Covington Classical Academy Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 69th percentile within KY. Charities of a similar size with the same main cause include Ponte Vedra-Palm Valley Parent Teacher Student Organization ($426k), Lubec Memorial Library ($426k) and Thillen Education Foundation Inc ($426k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 65% and program service revenue 27% of the total. Other salaries and wages came to $236k. At year end it held assets of $62k against liabilities of $0, net assets of $62k.