Covenant Academy
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2012 | 362,497 | 300,692 | 61,805 | 3.6 | 43% |
| 2013 | 377,161 | 296,646 | 80,515 | 6.9 | 49% |
| 2014 | 415,295 | 395,019 | 20,276 | 5.8 | 46% |
| 2015 | 461,668 | 462,936 | −1,268 | 6.2 | 51% |
| 2016 | 567,223 | 598,766 | −31,543 | 4.2 | 45% |
| 2017 | 586,158 | 569,052 | 17,106 | 5.1 | 58% |
| 2018 | 779,979 | 699,690 | 80,289 | 5.5 | 59% |
| 2019 | 704,075 | 791,417 | −87,342 | 3.5 | 64% |
| 2020 | 658,144 | 735,017 | −76,873 | 2.6 | 67% |
| 2021 | 1,199,598 | 927,269 | 272,329 | 5.5 | 69% |
| 2022 | 1,280,455 | 1,142,642 | 137,813 | 5.9 | 65% |
| 2023 | 1,413,813 | 1,345,794 | 68,019 | 5.7 | 63% |
| 2024 | 1,538,023 | 1,543,783 | −5,760 | 4.9 | 62% |
In its most recent public year (2024), this organization spent $5,760 more than it brought in. Its reserves stood at about 4.9 months of spending, up from 3.6 in 2012. Staff pay was 62% of spending.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2024. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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