COVENANT PREPARATORY 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

2012

Legal Domicile

Principal Officer

WILLIAM CRISP

Phone

9106925834

Tax Period

2022-01-01 to 2022-12-31

COVENANT PREPARATORY SCHOOL INC, founded in 2012, is a small nonprofit in the Education sector that reported $261K in total revenue in fiscal year 2022. Revenue fell 21% from the prior year — a significant decline worth monitoring. Expenses of $328K exceeded revenue, resulting in a 26% operating deficit.

Mission

TO PROVIDE CHRISTIAN BASED CLASSICAL EDUATION

Program Service Accomplishments

Program 1

Expenses: $298,044 Revenue: $0

PROVIDE INSTRUCTION TO STUDENTS IN CLASSICAL EDUCATION TO INCLUDE COURSES SUCH AS LATIN AND RHETORIC IN CONJUNCTION WITH THE MANDATORY COURSE OF STUDY REQUIRED BY ALL SCHOOL SYSTEMS.

Program 2

Expenses: $1,706 Revenue: $0

COST OF CURRICULUM

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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 (2022)

Revenue Breakdown

Contributions & Grants $10,828

Program Service Revenue $243,960

Investment Income $53

Other Revenue $5,736

TOTAL REVENUE $260,577

Expense Breakdown

Grants Paid $0

Salaries & Benefits $252,289

Fundraising Expenses $0

Program Expenses $299,750

Other Expenses $75,738

TOTAL EXPENSES $328,027

Year-over-Year Comparison

	2022	2021	Change
Revenue	$260,577	$329,286	-0.2%
Expenses	$328,027	$252,737	+0.3%
Net Income	$-67,450	$76,549	-1.9%

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

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

$24,363

Key Employees

$39,663

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILLIAM CRISP	TREASURER	2.00	Officer Director	$0	$0	$0
RYAN CONSIE	ASSISTANT TREASURE/BOARD MEMBER	2.00	Officer Director	$0	$0	$0
DALE CRISP	BOARD MEMBER	1.00	Director	$0	$0	$0
LUKE MCDOWELL	BOARD MEMBER	1.00	Director	$0	$0	$0
GLEN FISHER	BOARD MEMBER	1.00	Director	$0	$0	$0
BRITTANY PORTNORY	PRESCHOOL/ADMIN/BOARD MEMBER	3.00	Director Key Emp	$24,363	$0	$24,363
DREW MANEY	HEADMASTER	3.00	Key Emp	$15,300	$0	$15,300
BILL BIVANS	BOARD MEMBER	1.00	Director	$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
2022	$260,577	$328,027	$167,573	$-67,450
2021	$329,286	$252,737	$233,007	$76,549
2020	$261,048	$237,502	$155,446	$23,546
2018	$244,933	$140,047	$193,315	$104,886