New Covenant Academy

Analysis

New Covenant Academy is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in July 2003, 23 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, New Covenant Academy reported income of $3.0m and spending of $2.9m, spending 98% of its income. Across the 4 years on record, from June 2019 to June 2023, income fell from $3.1m to $3.0m (-3.3%), an average of -1.1% a year. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, New Covenant Academy sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within CA. Charities of a similar size with the same main cause include Kemmerer Village Foundation Inc ($3.0m), Valiente College Preparatory ($3.0m) and Lead the Way Learning Academy ($2.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 2.3% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $182k (6.3% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $4.8m against liabilities of $25k, net assets of $4.8m. It reported 32 employees.