Covenant Community School Inc

Covenant Community School Inc shows strong revenue growth and asset accumulation with no reported officer compensation.

EIN: 204173225 · Lake City, FL · NTEE: B240 · Updated: 2026-03-28

$1.4MRevenue

$833KAssets

90/100Mission Score (Excellent)

B240

About Covenant Community School Inc

Covenant Community School Inc (EIN: 204173225) is a nonprofit organization based in Lake City, FL, classified under NTEE code B240. The organization reported total revenue of $1.4M and total assets of $833K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Covenant Community School Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Covenant Community School Inc demonstrates a positive trend in financial health, with its latest reported revenue reaching $1,382,508 and assets growing significantly to $833,045. The organization has shown consistent revenue growth over the past several years, nearly doubling its revenue from $627,587 in 2020 to $1,158,337 in 2022. This growth is accompanied by a healthy accumulation of assets, indicating sound financial management and an ability to build reserves. The organization's liabilities have remained relatively low compared to its assets, further strengthening its financial position.

Regarding spending efficiency, the provided data indicates that the organization has consistently managed its expenses below its revenue in recent years, particularly in 2021 and 2022, where expenses were $825,701 against $924,063 revenue and $982,296 against $1,158,337 revenue, respectively. This suggests effective cost control and a surplus that can be reinvested into its programs or reserves. The absence of reported officer compensation across all filings is a notable aspect, suggesting that leadership may be volunteer-based or compensated through other means not categorized as officer compensation, which can contribute to lower administrative overhead.

Transparency appears to be strong given the consistent filing of IRS Form 990s over 12 periods, providing a comprehensive historical financial record. The consistent reporting of 0% officer compensation across all available filings is a significant transparency point, indicating that the organization is not allocating funds to executive salaries in the traditional sense. This practice, if sustained, can enhance public trust and perception of donor dollar utilization.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Covenant Community School Inc with a Mission Score of 90 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: 10%
programs: 90%
fundraising: 0%

According to IRS 990 filings, Covenant Community School Inc allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

The organization consistently reports 0% officer compensation across all available filings, indicating that executive leadership is either volunteer-based or compensated through non-officer channels, which is highly unusual for an organization of its size with over $1 million in revenue.

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 Community School Inc's IRS 990 filings:

Unusually low liabilities relative to assets, which could warrant further investigation into financial structure.
Consistent 0% officer compensation for an organization of this size, which is atypical and might suggest alternative compensation structures or a fully volunteer leadership that should be clearly disclosed.

Strengths

The following positive indicators were identified for Covenant Community School Inc:

Strong and consistent revenue growth, nearly doubling from $627,587 in 2020 to $1,158,337 in 2022.
Significant asset accumulation, growing from $88,105 in 2020 to $833,045 currently, indicating financial stability.
Consistent generation of financial surpluses in recent years (e.g., $982,296 expenses vs. $1,158,337 revenue in 2022).
Low liabilities relative to assets, demonstrating a healthy balance sheet.
Consistent reporting of 0% officer compensation, suggesting a high proportion of funds may go directly to programs.

Frequently Asked Questions about Covenant Community School Inc

Is Covenant Community School Inc a good charity?

Based on its strong financial growth, consistent asset accumulation, and reported 0% officer compensation, Covenant Community School Inc appears to be a financially healthy and efficient organization. Its consistent surplus generation and low liabilities are positive indicators.

How has the organization's financial health changed over time?

The organization has shown significant financial improvement, transitioning from periods of expense exceeding revenue (e.g., 2018-2020) to consistent surpluses in recent years (e.g., 2021 and 2022). Revenue has nearly doubled from $627,587 in 2020 to $1,158,337 in 2022, and assets have grown substantially from $88,105 in 2020 to $410,545 in 2022, and further to $833,045 currently.

What is the significance of 0% officer compensation?

The consistent reporting of 0% officer compensation suggests that the organization's leadership may be entirely volunteer-based or compensated through mechanisms not classified as officer compensation on the 990 form. This can indicate a high dedication to mission and efficient use of funds, as no direct salaries are being paid to top executives from the reported figures.

Filing History

IRS 990 filing history for Covenant Community School Inc showing financial trends over 12 years of public records:

Over 12 years of IRS 990 filings (2011–2022), Covenant Community School Inc's revenue has grown by 246.2%, moving from $335K to $1.2M. Total assets increased by 262% over the same period, from $113K to $411K. Total functional expenses rose by 177.7%, from $354K to $982K. In its most recent filing year (2022), Covenant Community School Inc reported a surplus of $176K, with revenue exceeding expenses. The organization holds $26K in liabilities against $411K in assets (debt-to-asset ratio: 6.3%), resulting in net assets of $385K.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2022	$1.2M	$982K	$411K	$26K	—	View 990
2021	$924K	$826K	$185K	$35K	—	View 990
2020	$628K	$671K	$88K	$67K	—	—
2019	$656K	$706K	$87K	$32K	—	View 990
2018	$689K	$742K	$143K	$38K	—	View 990
2017	$699K	$692K	$173K	$15K	—	View 990
2016	$701K	$629K	$165K	$13K	—	View 990
2015	$598K	$541K	$166K	$86K	—	View 990
2014	$484K	$492K	$116K	$93K	—	View 990
2013	$457K	$450K	$124K	$93K	—	View 990
2012	$371K	$394K	$109K	$85K	—	View 990
2011	$335K	$354K	$113K	$66K	—	View 990

Year-by-Year Financial Summary

2022: Revenue of $1.2M, expenses of $982K, and assets of $411K (revenue +25.4% year-over-year).
2021: Revenue of $924K, expenses of $826K, and assets of $185K (revenue +47.2% year-over-year).
2020: Revenue of $628K, expenses of $671K, and assets of $88K (revenue -4.4% year-over-year).
2019: Revenue of $656K, expenses of $706K, and assets of $87K (revenue -4.7% year-over-year).
2018: Revenue of $689K, expenses of $742K, and assets of $143K (revenue -1.4% year-over-year).
2017: Revenue of $699K, expenses of $692K, and assets of $173K (revenue -0.3% year-over-year).
2016: Revenue of $701K, expenses of $629K, and assets of $165K (revenue +17.2% year-over-year).
2015: Revenue of $598K, expenses of $541K, and assets of $166K (revenue +23.5% year-over-year).
2014: Revenue of $484K, expenses of $492K, and assets of $116K (revenue +5.9% year-over-year).
2013: Revenue of $457K, expenses of $450K, and assets of $124K (revenue +23.3% year-over-year).
2012: Revenue of $371K, expenses of $394K, and assets of $109K (revenue +10.8% year-over-year).
2011: Revenue of $335K, expenses of $354K, and assets of $113K.

Data Sources and Methodology

This transparency report for Covenant Community School Inc 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.