Covenant Academy

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Covenant Academy Form 990, Revenue, CEO Pay, and IRS Filing Signals

Covenant Academy is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Covenant Academy in one place.

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 →

IRS 990 Data Cockpit

Where the Money Comes From and Where It Goes

Across stored filings, Covenant Academy shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.

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Keep the Investigation Moving

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.

Organization Overview

Covenant Academy is a mid-size nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 12.8%.

Key Financial Metrics (2024)

From the most recent IRS 990 filing on record:

Financial Health Grade: C

In 2024, Covenant Academy reported a deficit of $6K with expenses exceeding revenue, holds 14.7 months of operating reserves (strong position), has a debt-to-asset ratio of 66.7% (high leverage).

Financial Trends

Over 13 years of filings (2012–2024), Covenant Academy's revenue has grown at a compound annual growth rate (CAGR) of 12.8%.

IRS Tax-Exempt Classification

Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.

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.

Key Financial Metrics (2024)

From the most recent IRS 990 filing on record:

• The organization reported a deficit of $6K, with expenses exceeding revenue.
• Debt-to-asset ratio: 66.7%.

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

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-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.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for Covenant Academy:

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.