MORRISTOWN COVENANT ACADEMY (EIN 770697543) - Form 990 Financial Analysis & Trantor Score

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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

Adam Cooper

Phone

4235873247

Tax Period

2023-08-01 to 2024-07-31

MORRISTOWN COVENANT ACADEMY, founded in 1985, is a small nonprofit in the Education sector that reported $343K in total revenue in fiscal year 2023. Expenses of $394K exceeded revenue, resulting in a 15% operating deficit.

Mission

A ministry of Gateway Church since 1985. Offering Christ centered education opportunities to families who see that a viable and valuable alternative to secular public education. Placing a high degree of importance on academic excellence.

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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 $4,329

Program Service Revenue $338,302

Investment Income $0

Other Revenue $0

TOTAL REVENUE $342,631

Expense Breakdown

Grants Paid $0

Salaries & Benefits $324,833

Fundraising Expenses $0

Program Expenses $393,657

Other Expenses $68,824

TOTAL EXPENSES $393,657

Year-over-Year Comparison

	2023	2022	Change
Revenue	$342,631	$327,624	+0.0%
Expenses	$393,657	$356,330	+0.1%
Net Income	$-51,026	$-28,706	+0.8%

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	0.5	Officer	$0	$0	$0
Brent Cooper	Officer	0.5	Officer	$0	$0	$0
Adam Cooper	Officer	0.5	Officer	$0	$0	$0
Jeanine Cooper	Officer	0.25	Officer	$0	$0	$0
Brian McLaughlin	Officer	0.25	Officer	$0	$0	$0
Wayne Smith	Officer	0.5	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	$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

MORRISTOWN COVENANT ACADEMY