Covenant Academy FY2021 filing

Tax-deductible

Cypress, TX501(c)(3)Since 2003EducationEIN 30-0152850

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Covenant Academy, a classical christian school, exists to serve christ and his kingdom by sharing the gospel and partnering with parents to train pre-k to 12 students by way of scripture and the classical liberal arts.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
$81K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $111K a year · 5% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$81K
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 4.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $25K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$468K
15% of total assets
Looks good: liabilities are 15% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.0M
+14% vs prior year
Spent
$1.8M
To programs
82%
Net assets
$2.7M
By yearFY2020–FY2024
Revenue
$2.0M
FY2021▲ +14%
Revenue by fiscal year
FY2020$1.7M
FY2021$2.0M
FY2022$2.0M
FY2023$2.3M
FY2024$2.7M
FY2024$3.0M
Expenses
$1.8M
FY2021▼ -6%
Expenses by fiscal year
FY2020$1.9M
FY2021$1.8M
FY2022$2.2M
FY2023$2.3M
FY2024$3.0M
FY2024$3.1M
Net assets
$2.7M
FY2021▲ +7%
Net assets by fiscal year
FY2020$2.5M
FY2021$2.7M
FY2022$2.5M
FY2023$2.4M
FY2024$2.1M
FY2024$2.0M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2003.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $1.5M Management & general 18% · $320K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990; $81K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Head of Scho
$81,302Pt VII · Sec A
President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Board Mbr 10
$0Pt VII · Sec A

Leslie Collins’s $88K as Head of Scho is at the 23rd percentile of top reported officer pay among 3394 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Leslie Collins$87,842$85,147$84,086$81,234$81,302$87,609
Rob Grooms$1,000$750————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Educates pre-K to 12 students using classical Christian principles and the liberal arts.

Provided by the organization

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1 program service account for $1.5M of program spending, described in the organization's own filed words · FY2020.
01

Covenant academy (ca) is a classical christian school for students in grades pre-k through 12; 138 students were enrolled in the 2020-2021 school year in these grades. Ca serves christ and his kingdom by sharing the gospel and partnering with parents to train students by way of scripture and the classical liberal arts.

$1.5Mprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 2 funders$25K
Grants paid · 26 grants · $922K · 2019–2024
Unitemized GrantFY2024$139,538
Unitemized GrantFY2024$49,827
Unitemized GrantFY2024$22,203
Unitemized GrantFY2024$4,537
Unitemized GrantFY2024$2,350
Unitemized GrantFY2024$1,350
Unitemized GrantFY2023$122,380
Unitemized GrantFY2023$26,220
Unitemized GrantFY2023$22,453
Unitemized GrantFY2023$10,000
Unitemized GrantFY2023$10,000
Unitemized GrantFY2023$4,556
Unitemized GrantFY2023$650
Unitemized GrantFY2022$100,000
Unitemized GrantFY2022$10,670
Unitemized GrantFY2022$4,000
Unitemized GrantFY2022$500
Unitemized GrantFY2021$104,550
See all 26 grants →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$2.0M
Ln 12
Fees for servicesLn 2g$1.5M
Gifts and grantsLn 1h$349K
Other incomeLn 4–11$98K
Money outPt IX
$1.8M
Ln 25
Programscol B$1.5M
Managementcol C$320K
Owns and owesPt X
$2.7M
net assets · Ln 32
Cash and savingsLn 1–2$701K
Total assetsLn 16$3.1M
LiabilitiesLn 26$468K
PeoplePt VI, VII
5
listed · VII A
PaidVII A1
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$349K
Government grantsLn 1e$250K
Fundraising eventsLn 1c$42K
Fees for servicesLn 2g$1.5M
Investment incomeLn 3$1K
Other incomeLn 4–11$98K
Total revenueLn 12$2.0M
Assets in detailPt X, end of year
CashLn 1$60K
SavingsLn 2$640K
Cash and savings togetherLn 1–2$701K
InvestmentsLn 11–13$10K
Land, buildings, equipmentLn 10c$2.4M
Total assetsLn 16$3.1M
LiabilitiesLn 26$468K
Net assetsLn 32$2.7M
OperationsPt I, VI
EmployeesI 546
VolunteersI 650
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$357K$701K
InvestmentsLn 11–13$10K
Land, buildings, equipmentLn 10c$2.5M$2.4M
Total assetsLn 16$2.9M$3.1M
LiabilitiesLn 26$368K$468K
Net assetsLn 32$2.5M$2.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$112K$112K
Pay of current officers, directors and key staffLn 5$102K$82K$20K
Other salaries and wagesLn 7$1.0M$809K$202K
Other employee benefitsLn 9$37K$30K$7K
Payroll taxesLn 10$78K$62K$16K
Legal feesLn 11b$992$794$198
Accounting feesLn 11c$45K$36K$9K
Advertising and promotionLn 12$6K$5K$1K
Office expensesLn 13$22K$18K$4K
Information technologyLn 14$15K$12K$3K
OccupancyLn 16$115K$92K$23K
Conferences, conventions and meetingsLn 19$12K$10K$2K
InterestLn 20$582$582
Depreciation, depletion and amortizationLn 22$90K$72K$18K
InsuranceLn 23$28K$23K$6K
Other expenses (24a–d)Ln 24$144K$136K$8K
All other expensesLn 24e$169$169
Total functional expensesLn 25$1.8M$1.5M$320K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $2.7M$3.0M−$288K$2.1M 990 PDF
FY2023 $2.3M$2.3M−$58K$2.4M 990 PDF
FY2022 $2.0M$2.2M−$182K$2.5M 990 PDF
FY2021 Viewing $2.0M$1.8M$165K$2.7M 990 PDF
FY2020 $1.7M$1.9M−$191K$2.5M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (4 parts)
Part VIII · Statement of revenue $1,984,987 across 8 lines filed
VIII-1c Fundraising events$42,105
VIII-1e Government grants$249,500
VIII-1f All other contributions, gifts and grants$57,605
VIII-1h Total contributions, gifts and grants$349,210
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,536,733$1,536,733
VIII-3 Investment incomeRelated to mission $1,044$1,044
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $98,000$98,000
VIII-12 Total revenueRelated to mission $1,635,777$1,984,987
Part IX · Statement of functional expenses $1,819,941 across 17 lines filed
IX-2 Grants to domestic individualsPrograms $111,801$111,801
IX-5 Pay of current officers, directors and key staffPrograms $81,546 · Management $20,387$101,933
IX-7 Other salaries and wagesPrograms $808,847 · Management $202,212$1,011,059
IX-9 Other employee benefitsPrograms $29,974 · Management $7,493$37,467
IX-10 Payroll taxesPrograms $62,351 · Management $15,588$77,939
IX-11b Legal feesPrograms $794 · Management $198$992
IX-11c Accounting feesPrograms $36,136 · Management $9,034$45,170
IX-12 Advertising and promotionPrograms $5,133 · Management $1,283$6,416
IX-13 Office expensesPrograms $17,754 · Management $4,438$22,192
IX-14 Information technologyPrograms $11,864 · Management $2,966$14,830
IX-16 OccupancyPrograms $92,295 · Management $23,074$115,369
IX-19 Conferences, conventions and meetingsPrograms $9,626 · Management $2,407$12,033
IX-20 InterestPrograms $582$582
IX-22 Depreciation, depletion and amortizationPrograms $72,020 · Management $18,005$90,025
IX-23 InsurancePrograms $22,587 · Management $5,647$28,234
IX-24 Other expenses (24a–d)Programs $136,021 · Management $7,709$143,730
IX-24e All other expensesPrograms $169$169
IX-25 Total functional expensesPrograms $1,499,500 · Management $320,441 · Fundraising $0$1,819,941
Part X · Balance sheet $3,144,207 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $211,468$60,195
X-2 Savings and temporary cash investmentsStart of year $145,585$640,491
X-9 Prepaid expenses and deferred chargesStart of year $23,648$20,931
X-10c Land, buildings and equipment, netStart of year $2,497,964$2,412,643
X-11 Publicly traded securities$9,947
X-16 Total assetsStart of year $2,879,840$3,144,207
X-17 Accounts payable and accrued expensesStart of year $19,493$32,416
X-19 Deferred revenueStart of year $87,886$281,379
X-24 Unsecured notes and loans payableStart of year $249,500$150,000
X-26 Total liabilitiesStart of year $368,229$467,723
X-27 Net assets without donor restrictionsStart of year $2,501,652$2,672,258
X-28 Net assets with donor restrictionsStart of year $9,959$4,226
X-32 Total net assets or fund balancesStart of year $2,511,611$2,676,484
X-33 Total liabilities and net assetsStart of year $2,879,840$3,144,207
Part XI · Reconciliation of net assets $2,676,484 net assets at year end
XI-1 Total revenue$1,984,987
XI-2 Total expenses$1,819,941
XI-3 Revenue less expenses$165,046
XI-4 Net assets at start of year$2,511,611
XI-9 Other changes in net assets−$173
XI-10 Net assets at end of year$2,676,484

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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