Covenant Classical Academy (EIN 822350694) - 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

2021

Legal Domicile

Principal Officer

Carol Terryberry

Phone

2523403638

Tax Period

2024-01-01 to 2024-12-31

Covenant Classical Academy, founded in 2021, is a small nonprofit in the Education sector that reported $260K in total revenue in fiscal year 2024. Expenses of $298K exceeded revenue, resulting in a 15% operating deficit.

Mission

Equip children to become wise & virtuous young men & women who excel academically, think biblically, & love the truth, goodness, & beauty that corresponds to God & His world, by using a rigorous, time-tested classical method, the trivium, that mirrors their natural development.

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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 $500

Program Service Revenue $259,563

Investment Income $0

Other Revenue $0

TOTAL REVENUE $260,063

Expense Breakdown

Grants Paid $0

Salaries & Benefits $209,751

Fundraising Expenses $0

Program Expenses $227,505

Other Expenses $88,168

TOTAL EXPENSES $297,919

Year-over-Year Comparison

	2024	2023	Change
Revenue	$260,063	N/A	N/A
Expenses	$297,919	N/A	N/A
Net Income	$-37,856	N/A	N/A

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

N/A

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Caasi Suaava	Headmaster	10.00	Director	$0	$0	$0
Kathy Arrick	Board Member	6.00	Director	$0	$0	$0
Jeff Terry	Board Member	10.00	Director	$0	$0	$0
Carol Terryberry	Board Chair	10.00	Officer	$0	$0	$0
Christi Panek	Dean of Academics	10.00	Officer	$0	$0	$0
Daniel Cenci	Board Member	10.00		$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	$260,063	$297,919	$19,086	$-37,856

Covenant Classical Academy