Covenant Academy
Covenant Academy shows consistent growth and zero reported officer compensation over a decade.
EIN: 141961130 · Crossville, TN · NTEE: B20 · Updated: 2026-03-28
Is Covenant Academy Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Covenant Academy directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Covenant Academy
Covenant Academy (EIN: 141961130) is a nonprofit organization based in Crossville, TN, classified under NTEE code B20. The organization reported total revenue of $1.8M and total assets of $2.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Covenant Academy's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Covenant Academy with a Mission Score of 92 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Covenant Academy allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Covenant Academy consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to officers or that officers are volunteers, which is highly unusual for an organization with annual revenues exceeding $1.5 million.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Covenant Academy's IRS 990 filings:
- Consistent 0% officer compensation for an organization of this size, which, while positive for efficiency, warrants further inquiry into how leadership is compensated or structured to ensure sustainability and avoid potential misclassification.
Strengths
The following positive indicators were identified for Covenant Academy:
- Consistent revenue and asset growth over a decade, demonstrating financial stability and expansion.
- Zero reported officer compensation, indicating a high dedication of funds to programmatic activities.
- Regular and consistent IRS 990 filings, reflecting good governance and transparency.
- Favorable asset-to-liability ratio, suggesting strong solvency and financial management.
Frequently Asked Questions about Covenant Academy
Is Covenant Academy a legitimate charity?
Based on AI analysis of IRS 990 filings, Covenant Academy (EIN: 141961130) some concerns. Mission Score: 92/100. 1 red flag identified, 4 strengths noted.
How does Covenant Academy spend its money?
Covenant Academy directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Covenant Academy tax-deductible?
Covenant Academy is registered as a tax-exempt nonprofit (EIN: 141961130). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Covenant Academy a good charity?
Based on the provided financial data, Covenant Academy appears to be a financially healthy and well-managed organization. Its consistent growth in revenue and assets, coupled with 0% reported officer compensation, suggests a strong commitment to its mission and efficient use of funds. The consistent filing of 990s also indicates good governance and transparency.
How does Covenant Academy manage to operate without officer compensation?
The filings consistently show 0% officer compensation. This could mean that the organization's leadership is entirely volunteer-based, or that compensation for key personnel is categorized differently within the IRS 990, such as under general salaries and wages rather than specifically as officer compensation. Further investigation into their detailed expense breakdown would be needed to fully understand this structure.
What is the trend in Covenant Academy's financial health?
Covenant Academy has shown a strong positive trend in financial health over the past decade. Revenue has grown from $461,668 in 2015 to $1,538,023 in 2024, and assets have increased from $738,591 to $1,889,874 in the same period, indicating sustained growth and increasing financial capacity.
Filing History
IRS 990 filing history for Covenant Academy showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Covenant Academy's revenue has grown by 324.3%, moving from $362K to $1.5M. Total assets increased by 230.8% over the same period, from $571K to $1.9M. Total functional expenses rose by 413.4%, from $301K to $1.5M. In its most recent filing year (2024), Covenant Academy reported a deficit of $6K, with expenses exceeding revenue. The organization holds $1.3M in liabilities against $1.9M in assets (debt-to-asset ratio: 66.7%), resulting in net assets of $629K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2024 | $1.5M | $1.5M | $1.9M | $1.3M | — | View 990 |
| 2023 | $1.4M | $1.3M | $1.6M | $948K | — | View 990 |
| 2022 | $1.3M | $1.1M | $1.6M | $998K | — | View 990 |
| 2021 | $1.2M | $927K | $1.5M | $1.1M | — | View 990 |
| 2020 | $658K | $735K | $717K | $561K | — | View 990 |
| 2019 | $704K | $791K | $656K | $423K | — | View 990 |
| 2018 | $780K | $700K | $745K | $424K | — | — |
| 2017 | $586K | $569K | $688K | $448K | — | View 990 |
| 2016 | $567K | $599K | $701K | $492K | — | View 990 |
| 2015 | $462K | $463K | $739K | $498K | — | View 990 |
| 2014 | $415K | $395K | $752K | $561K | — | View 990 |
| 2013 | $377K | $297K | $559K | $388K | — | View 990 |
| 2012 | $362K | $301K | $571K | $481K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $1.5M, expenses of $1.5M, and assets of $1.9M (revenue +8.8% year-over-year).
- 2023: Revenue of $1.4M, expenses of $1.3M, and assets of $1.6M (revenue +10.4% year-over-year).
- 2022: Revenue of $1.3M, expenses of $1.1M, and assets of $1.6M (revenue +6.7% year-over-year).
- 2021: Revenue of $1.2M, expenses of $927K, and assets of $1.5M (revenue +82.3% year-over-year).
- 2020: Revenue of $658K, expenses of $735K, and assets of $717K (revenue -6.5% year-over-year).
- 2019: Revenue of $704K, expenses of $791K, and assets of $656K (revenue -9.7% year-over-year).
- 2018: Revenue of $780K, expenses of $700K, and assets of $745K (revenue +33.1% year-over-year).
- 2017: Revenue of $586K, expenses of $569K, and assets of $688K (revenue +3.3% year-over-year).
- 2016: Revenue of $567K, expenses of $599K, and assets of $701K (revenue +22.9% year-over-year).
- 2015: Revenue of $462K, expenses of $463K, and assets of $739K (revenue +11.2% year-over-year).
- 2014: Revenue of $415K, expenses of $395K, and assets of $752K (revenue +10.1% year-over-year).
- 2013: Revenue of $377K, expenses of $297K, and assets of $559K (revenue +4.0% year-over-year).
- 2012: Revenue of $362K, expenses of $301K, and assets of $571K.
Data Sources and Methodology
This transparency report for Covenant Academy is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.