COVENANT AERO (EIN 882503120) - 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

2022

Legal Domicile

Principal Officer

GAIL PUGH

Phone

6163921821

Tax Period

2025-01-01 to 2025-12-31

COVENANT AERO, founded in 2022, is a small nonprofit in the Religion sector that reported $529K in total revenue in fiscal year 2025. Revenue surged 69% from the prior year, signaling strong growth momentum. The organization ran a surplus of $220K, a strong 42% operating margin.

Mission

PROVIDE TRANSPORTATION AND COMMUNICATION SERVICES AND FACILITIES AND OTHER TECHNICAL AND SCENTIFIC SERVICES TO DOCTORS, NURSES, SCIENTISTS, EXPLORERS, MISSIONARIES, BIBLE TRANSLATORS, AND EDUCATORS IN ISOLATED AERAS OF THE WORLD FOR THE PURPOSE OF CARRYING ON AND CONDUCTING SCIENTIFIC AND EDUCATIONAL PROGRAMS FOR THE PUBLIC LIVING IN SUCH AREAS, AND TO CONCERN ITSELF WITH THE NECESSARY PERSONNEL PERTAINING THERTO. IT WILL DO SO BY USING AIRCRAFT TO PROVIDE THOSE SERVICES. THE ORGANIZATION WILL ALSO NEED TO MAINTAIN COMMUNICATION EQUIPMENT AND MAY NEED TO MAINTAIN FACILITIES IN THE ISOLATED AREAS WHERE THE AIRCRAFT LAND, TAKE OFF, AND PARK. THE ORGANIZATION ITSELF WILLL OWN THE AIRCRAFT AND RAISE THE MONEY NEEDED TO MAINTAIN AND OPERATE THE AIRCRAFT.

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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 (2025)

Revenue Breakdown

Contributions & Grants $5,940

Program Service Revenue $523,425

Investment Income $0

Other Revenue $0

TOTAL REVENUE $529,365

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $278,449

Other Expenses $309,347

TOTAL EXPENSES $309,347

Year-over-Year Comparison

	2025	2024	Change
Revenue	$529,365	$313,828	+0.7%
Expenses	$309,347	$451,641	-0.3%
Net Income	$220,018	$-137,813	-2.6%

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

N/A

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
HERBERT HARNEY	OFFICER	N/A	Director	$0	$0	$0
FRED HONORE II	OFFICER	N/A	Director	$0	$0	$0
BRADLEY PUGH	OFFICER	N/A	Director	$0	$0	$0
GAIL PUGH	OFFICER	N/A	Director	$0	$0	$0
DANIEL SMITH	OFFICER	N/A	Director	$0	$0	$0
MATT VERKADE	OFFICER	N/A	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
2025	$529,365	$309,347	$609,253	$220,018
2023	$164,517	$372,916	$527,048	$-208,399
2022	$1,087,387	$207,927	$880,247	$879,460

COVENANT AERO