THE COVENANT 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

1985

Legal Domicile

Principal Officer

MR FRANK BERRY

Phone

4342207329

Tax Period

2024-07-01 to 2025-06-30

THE COVENANT SCHOOL INC, founded in 1985, is a mid-sized nonprofit that reported $19.1M in total revenue in fiscal year 2024. Expenses of $17.8M left a modest 7% surplus.

Mission

THE COVENANT SCHOOL SEEKS TO PROMOTE THE MORAL, INTELLECTUAL, AND PHYSICAL DEVELOPMENT OF YOUNG PEOPLE. WE FOSTER THE VIRTUES OF FAITH, WISDOM, AND LOVE THROUGH THE PURSUIT OF ACADEMIC EXCELLENCE AND THE RECOGNITION OF GOD'S SOVEREIGNTY OVER HIS CREATION.(CONT.-SCHEDULE O) WE NURTURE OUR STUDENTS, CHALLENGING THEM TO FOLLOW THE EXAMPLE OF JESUS CHRIST, TO ACHIEVE THROUGH SELF-DISCIPLINE, TO LEAD BY SERVICE TO OTHERS, AND TO GROW IN KNOWLEDGE AND VIRTUE.

Program Service Accomplishments

Program 1

Expenses: $11,330,290 Revenue: $17,667,259

THE COVENANT SCHOOL IS AN INDEPENDENT CHRISTIAN SCHOOL PROVIDING EDUCATIONAL SERVICE TO APPROXIMATELY 760 STUDENTS GRADES PRE-KINDERGARTEN THROUGH 12TH GRADE.

Program 2

Expenses: $4,095,173

FINANCIAL ASSISTANCE (FINANCIAL AID AND SCHOLARSHIPS) WAS PROVIDED TO 377 STUDENTS DURING THE ACADEMIC YEAR.

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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 (2024)

Revenue Breakdown

Contributions & Grants $1,221,586

Program Service Revenue $17,628,077

Investment Income $149,634

Other Revenue $107,483

TOTAL REVENUE $19,106,780

Expense Breakdown

Grants Paid $4,095,173

Salaries & Benefits $10,442,518

Fundraising Expenses $353,285

Program Expenses $15,425,463

Other Expenses $3,281,090

TOTAL EXPENSES $17,818,781

Year-over-Year Comparison

	2024	2023	Change
Revenue	$19,106,780	$17,982,480	+0.1%
Expenses	$17,818,781	$16,807,550	+0.1%
Net Income	$1,287,999	$1,174,930	+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

Employees

260

Volunteers

263

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

$596,663

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MR JEFF BLOXSOM	DIRECTOR	4.00	Director	$0	$0	$0
MR ERIC HEINSOHN	CHAIR	10.00	Officer Director	$0	$0	$0
MRS SARAH HUTCHINSON	DIRECTOR	4.00	Director	$0	$0	$0
MR STEVEN LUCK	DIRECTOR	4.00	Director	$0	$0	$0
MR PIERRE POINDEXTER	DIRECTOR	4.00	Director	$0	$0	$0
MR JUSTIN SMITH	DIRECTOR	4.00	Director	$0	$0	$0
MRS DANIELLE WILCOX	SECRETARY	4.00	Officer Director	$0	$0	$0
MR BRIAN CULLATY	TREASURER	4.00	Officer Director	$0	$0	$0
MRS CLAIRE GRIFFIN	DIRECTOR	4.00	Director	$0	$0	$0
MRS LAUREN BYRNE	VICE CHAIR	4.00	Officer Director	$0	$0	$0
MRS KATHERINE MORRIS	DIRECTOR	4.00	Director	$0	$0	$0
MR BEN OCHS	DIRECTOR	4.00	Director	$0	$0	$0
MRS MARGARET SCHMIDT	DIRECTOR	4.00	Director	$0	$0	$0
MR CRAIG WOOD	DIRECTOR	4.00	Director	$0	$0	$0
MR BRADLEY R BAGGETT	HEAD OF SCHOOL	45.00	Officer	$279,374	$73,058	$352,432
MR FRANK BERRY	CFO/COO	45.00	Officer	$202,735	$41,496	$244,231
MRS WENDY HILL	DIRECTOR OF ACCOUNTING	45.00	Highest	$130,542	$6,484	$137,026
MR COLIN ANDERSON	DEAN OF FACULTY	40.00	Highest	$152,380	$74,712	$227,092
MR BRYAN R VERBRUGGE	THEOLOGY DEPARTMENT CHAIR	40.00	Highest	$114,950	$7,946	$122,896
MR SPENCER BURTON	MIDDLE SCHOOL DIRECTOR	40.00	Highest	$121,394	$48,039	$169,433

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
2025	$19,106,780	$17,818,781	$18,069,730	$1,287,999
2024	$17,982,480	$16,807,550	$16,586,256	$1,174,930
2023	$15,896,967	$14,756,713	$15,683,412	$1,140,254
2022	$14,464,891	$12,998,700	$15,174,409	$1,466,191
2021	$14,079,562	$11,964,565	$12,873,771	$2,114,997
2020	$11,208,683	$11,279,039	$11,894,192	$-70,356
2019	$10,856,960	$11,109,445	$11,948,961	$-252,485