COVENANT CLASSICAL SCHOOL

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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

1999

Legal Domicile

Principal Officer

JAMES W PICKETT JR

Phone

8178200884

Tax Period

2024-08-01 to 2025-07-31

COVENANT CLASSICAL SCHOOL, founded in 1999, is a mid-sized nonprofit in the Education sector that reported $11.1M in total revenue in fiscal year 2024. The organization ran a surplus of $1.7M, a strong 15% operating margin.

Mission

TO TRAIN OUR STUDENTS TO LIVE AND THINK ACCORDING TO A BIBLICAL CHRIST-CENTERED WORLD VIEW. WE ACCOMPLISH THIS BY PARTNERING WITH PARENTS TO PROVIDE A RIGOROUS, CLASSICAL EDUCATION THAT INSTILLS A LIFELONG LOVE OF LEARNING.

Program Service Accomplishments

Program 1

Expenses: $6,232,131 Revenue: $7,986,032

TO PROVIDE K-12 PRIVATE CLASSICAL SCHOOL EDUCATION.

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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 $2,103,082

Program Service Revenue $7,983,437

Investment Income $126,002

Other Revenue $857,692

TOTAL REVENUE $11,070,213

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,802,229

Fundraising Expenses $334,323

Program Expenses $6,232,131

Other Expenses $3,554,824

TOTAL EXPENSES $9,357,053

Year-over-Year Comparison

	2024	2023	Change
Revenue	$11,070,213	$10,755,035	+0.0%
Expenses	$9,357,053	$8,790,267	+0.1%
Net Income	$1,713,160	$1,964,768	-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

144

Volunteers

110

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

$224,457

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BEN COWAN	PRESIDENT	10.00	Officer Director	$0	$0	$0
WILL PICKETT	TREASURER	10.00	Officer Director	$0	$0	$0
LAURA JAGEMAN	SECRETARY	10.00	Officer Director	$0	$0	$0
CHRISTIAN ELLIS	MEMBER	10.00	Director	$0	$0	$0
DR DAVID CAPPER	MEMBER	10.00	Director	$0	$0	$0
DOUG BRILEY	MEMBER	10.00	Director	$0	$0	$0
CHRIS TAYLOR	MEMBER	10.00	Director	$0	$0	$0
DAREN KEYES	CHAIRMAN	10.00	Director	$0	$0	$0
BROOKS DANLEY	MEMBER	10.00	Director	$0	$0	$0
CARYN BARBER	MEMBER	10.00	Director	$0	$0	$0
MATTHEW LUENSMANN	MEMBER	10.00	Director	$0	$0	$0
BRANNON LATIMER	MEMBER	10.00	Director	$0	$0	$0
TROY SCHUKNECHT	HEAD OF SCHOOL	40.00	Officer	$224,457	$0	$224,457
ANDREW JOHN ELIZALDE	ACADEMIC DEAN	40.00	Highest	$146,674	$0	$146,674
JEREMY MARTIN	DIRECTOR OF ATHLETICS	40.00	Highest	$117,528	$0	$117,528

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	$11,070,213	$9,357,053	$28,022,288	$1,713,160
2024	$10,755,035	$8,790,267	$26,068,892	$1,964,768
2023	$8,823,286	$8,134,670	$27,039,797	$688,616
2022	$9,648,218	$7,202,833	$27,677,695	$2,445,385
2021	$9,452,870	$6,307,116	$21,414,622	$3,145,754
2020	$6,561,417	$6,096,595	$19,574,896	$464,822
2019	$8,693,700	$5,463,132	$18,389,003	$3,230,568
2018	$5,237,103	$5,172,792	$14,593,910	$64,311