COVENANT COMMUNITY SCHOOL INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2005

Legal Domicile

Tax Period

2023-01-01 to 2023-12-31

COVENANT COMMUNITY SCHOOL INC, founded in 2005, is a community nonprofit in the Education sector that reported $1.3M in total revenue in fiscal year 2023. Revenue grew 15% year-over-year, indicating healthy expansion. The organization ran a surplus of $200K, a strong 15% operating margin.

Mission

CHRISTIAN NON-DENOMINATIONAL EDUCATION INSTITUTION

Program Service Accomplishments

Program 1

Expenses: $1,077,739 Revenue: $1,314,724

COVENANT COMMUNITY SCHOOL IS A PRIVATE CHRISTIAN SCHOOL WHO PARTNERED WITH 105 FAMILIES, WHICH INCLUDED 176 STUDENTS IN 2023/2024. THE PARTNERSHIPS INCLUDED HELPING DEFINE THE GOD-GIVEN CALL ON THE CHILDRENS LIVES, PROVIDING AN EDUCATION THAT TOUCHES CHILDREN IN THE CLASSROOM WITH HIGH ACADEMIC EXCELLENCE AND STRONG CHRISTIAN VALUES. WE ALSO HAD NINE STUDENTS GRADUATE WITH A HIGH SCHOOL DIPLOMA. CCS HELPS THESE STUDENTS WITH DUAL ENROLLMENT AT THE LOCAL COLLEGE ALONG WITH FLORIDA VIRTUAL SCHOOL. OUR SAT SCORES INDICATED AN AVERAGE OF 1150 OR ABOVE OVERALL PERFORMANCE FOR THE PAST SCHOOL YEAR. WE TAUGHT GODLY LIFE APPRECIATION PRINCIPLES USING THE WORD OF GOD AS THE BASIS FOR ALL TRUTH. THESE PRINCIPLES INCLUDED FINANCIAL ETIQUETTE AND MORAL EDUCATION. WE COMPLETED A VARIETY OF COMMUNITY OUTREACHES. OTHER ACTIVITIES INCLUDED THE STUDENT WORSHIP TEAM, SCHOOL PLAYS AND OTHER PERFORMANCES. CCS IS COMMITTED TO UNITING EXCELLENCE IN EDUCATION WITH GODLY PRINCIPLES. WE ALSO PARTICIPATED IN THE LOCAL SPELLING BEE WINNING A PLACE IN THE COUNTY. OUR STUDENTS PARTICIPATED IN OUTREACHES AMONGST THE LOCAL COMMUNITY. THE SCHOOL ALSO PARTICIPATED IN AN IN-SERVICE TRAINING BY ATTENDING OUR FLOCS CONFERENCE AND COMPLETED ANOTHER ACCREDITATION PROCESS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $5,939

Program Service Revenue $1,314,724

Investment Income $6,469

Other Revenue $3,389

TOTAL REVENUE $1,330,521

Expense Breakdown

Grants Paid $0

Salaries & Benefits $707,705

Fundraising Expenses $0

Program Expenses $1,077,739

Other Expenses $422,916

TOTAL EXPENSES $1,130,621

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,330,521	$1,158,337	+0.1%
Expenses	$1,130,621	$982,296	+0.2%
Net Income	$199,900	$176,041	+0.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

N/A

Employees

N/A

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FRANK SOUCINEK	DIRECTOR	10.00	Officer	$0	$0	$0
CYNTHIA SOUCINEK	DIRECTOR	40.00	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$1,330,521	$1,130,621	$610,789	$199,900
2022	$1,158,337	$982,296	$410,545	$176,041
2021	$924,063	$825,701	$184,764	$98,362
2020	$627,587	$671,494	$88,105	$-43,907
2019	$656,299	$706,420	$87,439	$-50,121
2018	$688,967	$741,594	$143,385	$-52,627