NEW COVENANT ACADEMY (EIN 954834735) - 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

1999

Legal Domicile

Principal Officer

JASON SONG

Phone

2132501600

Tax Period

2022-07-01 to 2023-06-30

NEW COVENANT ACADEMY, founded in 1999, is a community nonprofit in the Education sector that reported $3.0M in total revenue in fiscal year 2022.

Mission

New Covenant Academy is a Christian school committed to providing Christian education to children from the 1st through 12th grades. The organization requires that its students participate in chapel and workship.

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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 $68,028

Program Service Revenue $2,812,550

Investment Income $58,578

Other Revenue $12,160

TOTAL REVENUE $2,951,316

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,373,824

Fundraising Expenses $5,426

Program Expenses $2,579,814

Other Expenses $1,509,400

TOTAL EXPENSES $2,883,224

Year-over-Year Comparison

	2022	2021	Change
Revenue	$2,951,316	$2,937,393	+0.0%
Expenses	$2,883,224	$2,768,270	+0.0%
Net Income	$68,092	$169,123	-0.6%

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

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

$196,095

Total Directors

$196,095

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jason Song	Chief Executive Officer	050.00	Officer Director	$96,345	$7,200	$103,545
Kara Song	Secretary/Treasurer	040.00	Officer Director	$85,350	$7,200	$92,550
Rev Ted Kim	Director/Advisor	001.00	Director	$0	$0	$0
Dean Kim	Director	001.00	Director	$0	$0	$0
Dr Christopher Quinn	Director	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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$2,951,316	$2,883,224	$4,821,934	$68,092
2022	$2,937,393	$2,768,270	$4,898,330	$169,123
2021	$3,057,829	$2,735,672	$4,729,207	$322,157
2019	$3,050,787	$2,992,068	$6,302,236	$58,719

NEW COVENANT ACADEMY