MORRISTOWN COVENANT ACADEMY

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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

Jeanine Cooper

Phone

4235873247

Tax Period

2024-08-01 to 2025-07-31

MORRISTOWN COVENANT ACADEMY, founded in 1985, is a small nonprofit in the Education sector that reported $289K in total revenue in fiscal year 2024. Revenue decreased 16% compared to the prior year. Expenses of $330K exceeded revenue, resulting in a 14% operating deficit.

Mission

A religious corporation whose purpose is to establish maintain and operate a school to provide academic excellence for students in prek 12th grades

Program Service Accomplishments

Program 1

Expenses: $329,608 Revenue: $278,960

A ministry of Gateway Church since 1985 offering Christ centered education to families who seek viable and valuable alternatives to secular public education in grades prek through 12 grades while...

A ministry of Gateway Church since 1985 offering Christ centered education to families who seek viable and valuable alternatives to secular public education in grades prek through 12 grades while placing a high degree of importance on academic excellence

Program 2

Expenses: $0 Revenue: $0

NONE

Program 3

Expenses: $0 Revenue: $0

NONE

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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 $2,373

Program Service Revenue $286,463

Investment Income $0

Other Revenue $0

TOTAL REVENUE $288,836

Expense Breakdown

Grants Paid $0

Salaries & Benefits $278,960

Fundraising Expenses $0

Program Expenses $329,608

Other Expenses $50,648

TOTAL EXPENSES $329,608

Year-over-Year Comparison

	2024	2023	Change
Revenue	$288,836	$342,631	-0.2%
Expenses	$329,608	$393,657	-0.2%
Net Income	$-40,772	$-51,026	-0.2%

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

Volunteers

N/A

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
Susan Schmid	Officer	0.25	Officer	$0	$0	$0
Debra Cooper	Officer	0.50	Officer	$0	$0	$0
Brent Cooper	Officer	0.50	Officer	$0	$0	$0
Adam Cooper	Officer	0.5	Officer	$0	$0	$0
Jeanine Cooper	Officer	0.25	Officer	$0	$0	$0
Fred Myers	Officer	0.25	Officer	$0	$0	$0
Wayne Smith	Officer	0.25	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
2025	$288,836	$329,608	$190,845	$-40,772
2024	$342,631	$393,657	$203,305	$-51,026
2023	$327,624	$356,330	$187,589	$-28,706
2021	$269,324	$295,363	$127,310	$-26,039