Covenant Academy of Mobile (EIN 874009772) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2022

Legal Domicile

Principal Officer

Spencer Ruggs

Phone

2513071863

Tax Period

2023-10-01 to 2024-09-30

Covenant Academy of Mobile, founded in 2022, is a community nonprofit in the Human Services sector that reported $3.0M in total revenue in fiscal year 2022. The organization ran a surplus of $1.7M, a strong 57% operating margin.

Mission

Operation of a public charter school in Mobile Alabama.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,199,953

Program Service Revenue $5,601,824

Investment Income $45,198

Other Revenue $0

TOTAL REVENUE $6,846,975

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,555,233

Fundraising Expenses $0

Program Expenses $4,832,124

Other Expenses $2,186,663

TOTAL EXPENSES $5,741,896

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,846,975	$2,997,258	+1.3%
Expenses	$5,741,896	$1,300,798	+3.4%
Net Income	$1,105,079	$1,696,460	-0.3%

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
Shamika Battle	Board Member	001.00	Director	$0	$0	$0
Paulette Briscoe	Secretary	001.00	Officer Director	$0	$0	$0
Ellis Harper Jr	Treasurer	001.00	Officer Director	$0	$0	$0
Andre Lucy	Vice President	001.00	Officer Director	$0	$0	$0
Nikkia Ruggs	Board Member	001.00	Director	$0	$0	$0
Spencer Ruggs	President	001.00	Officer Director	$0	$0	$0
Virgil Wilson	Board Member	001.00	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
2024	$6,846,975	$5,741,896	$10,711,619	$1,105,079
2023	$2,997,258	$1,300,798	$3,764,480	$1,696,460

Covenant Academy of Mobile