Civic Intelligence

Covenant Academy

990 • Fiscal year 2019 • EIN 30-0152850

Jul 01, 2018 to Jun 30, 2019 • Filed on Mar 17, 2020

11711 Telge RoadCypress, TX 77429

(281) 373-2233

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

41st percentile

0.04x

Higher debt load relative to assets than 41% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

46th percentile

0.07x

Higher debt load relative to revenue than 46% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

16th percentile

-16%

Higher net margin than 16% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

60th percentile

$83,255

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 5.0% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

14th percentile

-8.4%

Faster asset growth than 14% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

9th percentile

-33%

Faster revenue growth than 9% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Down

$2,818,770

Down $119,425 (-4.1%) from 2017

Net Assets

Down

$2,702,232

Down $83,591 (-3.0%) from 2017

Liabilities

Down

$116,538

Down $35,834 (-24%) from 2017

Revenue

Up

$1,662,160

Up $286,640 (+21%) from 2017

Expenses

Up

$1,923,010

Up $439,099 (+30%) from 2017

Net Income

Down

-$260,850

Down $152,459 (-141%) from 2017

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0Assets 2012: $3,414,978Liabilities 2012: $67,925Net Assets 2012: $3,347,0532012Assets 2013: $3,228,481Liabilities 2013: $53,913Net Assets 2013: $3,174,5682013Assets 2014: $3,137,979Liabilities 2014: $74,796Net Assets 2014: $3,063,1832014Assets 2015: $3,067,162Liabilities 2015: $76,133Net Assets 2015: $2,991,0292015Assets 2016: $2,968,937Liabilities 2016: $74,723Net Assets 2016: $2,894,2142016Assets 2017: $2,938,195Liabilities 2017: $152,372Net Assets 2017: $2,785,8232017Assets 2019: $2,818,770Liabilities 2019: $116,538Net Assets 2019: $2,702,2322019Assets 2020: $2,879,840Liabilities 2020: $368,229Net Assets 2020: $2,511,6112020

Highlighted filing

2019

Assets$2,818,770
Liabilities$116,538
Net Assets$2,702,232

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.0M$0-$1.0MExpenses 2012: $1,268,6012012Expenses 2013: $1,057,9782013Revenue 2014: $1,012,012Expenses 2014: $1,123,397Net Income 2014: -$111,3852014Revenue 2015: $1,199,197Expenses 2015: $1,271,800Net Income 2015: -$72,6032015Revenue 2016: $1,360,309Expenses 2016: $1,457,123Net Income 2016: -$96,8142016Revenue 2017: $1,375,520Expenses 2017: $1,483,911Net Income 2017: -$108,3912017Revenue 2019: $1,662,160Expenses 2019: $1,923,010Net Income 2019: -$260,8502019Revenue 2020: $1,746,482Expenses 2020: $1,937,103Net Income 2020: -$190,6212020

Highlighted filing

2019

Revenue$1,662,160
Expenses$1,923,010
Net Income-$260,850
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Mar 17, 2020
Return Version
2018v3.2
Gross Receipts
$1,690,054
Mission and Program Overview

Mission

Covenant academy is a classical christian school for k-12 grades seeking to partner with parents to train students to be discerning, articulate followers of jesus christ and leaders in their sphere of influence.

Covenant academy is a classical christian school, grades prek - 12, seeking to partner with parents to train students to be discerning, articulate followers of jesus christ and leaders in their sphere of influence.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,626,574$2,580,764▼ $45,810
Savings and Temporary Cash Investments$402,455$187,524▼ $214,931
Accounts Receivable$745$29,540▲ $28,795
Cash and Non-Interest-Bearing Accounts$34,378$19,942▼ $14,436
Prepaid Expenses and Deferred Charges$14,633$1,000▼ $13,633
Total Assets$3,078,785$2,818,770▼ $260,015
Liabilities
Deferred Revenue$60,379$79,680▲ $19,301
Accounts Payable and Accrued Expenses$55,324$19,847▼ $35,477
Mortgage Notes Payable Secured by Investment Property-$17,011-
Total Liabilities$115,703$116,538▲ $835
Net Assets / Fund Balance
Unrestricted Net Assets$2,948,782$2,690,086▼ $258,696
Temporarily Rstr Net Assets$14,300$12,146▼ $2,154
Total Net Assets Fund Balance$2,963,082$2,702,232▼ $260,850
Total Liabilities and Net Assets / Fund Balance$3,078,785$2,818,770▼ $260,015

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,885,705$849,373$2,735,078
Land$514,625-$514,625
Equipment$121,266$112,640$233,906
Other Land Buildings$59,168$5,651$64,819
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Leslie CollinsHead of SchoFT$83,255$83,255

Board Members and Trustees

NameTitle
Rob GroomsPresident
Andy EllisSecretary
Derrick VeillonTreasurer
Dr David BrookesVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$115,399
Program Service Revenue
$1,532,326
Investment Income
$3,569
Other Revenue
$10,866
All Other Contributions
$59,007
Change in Net Assets
$-260,850
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,271,283
Other Expenses$475,858
Grants and Similar Amounts Paid$175,869
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$841,938$210,485-$1,052,423
Grants to Domestic Individuals$175,869--$175,869
Occupancy$83,146$20,786-$103,932
Depreciation Depletion$80,054$20,013-$100,067
Current Officers, Directors, Trustees, and Key Employees$78,762$19,690-$98,452
Payroll Taxes$63,819$15,955-$79,774
Other Employee Benefits$32,507$8,127-$40,634
Fees for Services Accounting$30,845$7,711-$38,556
Insurance$21,469$5,367-$26,836
Office Expenses$16,109$4,027-$20,136
Conferences and Meetings$14,914$3,729-$18,643
Advertising$14,445$3,611-$18,056
Information Technology$14,360$3,590-$17,950
Other Expenses$2,154$539-$2,693
Interest$1,121--$1,121
Fees for Services Legal$410$103-$513
Total Functional Expenses$1,599,277$323,733$0$1,923,010
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$27,894
Fundraising Gross Income$27,810
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Banquet$55,674$17,671$1,693$15,978
Fun & Color Run$28,528$10,139$9,754$385
Total Events$84,202$27,810$27,894$-84
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Part OwnerConstruction WorkNo$12,766
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The 990 is sent to the board together with the internally prepared financials for their review. Once all questions have been resolved the 990 is e-filed and a final copy provided to the board.

Form 990, Page 6, Part VI, Line 12C

All board members are asked annually to disclose any financial conflict of interest. If any conflict of interest exists at any time, the affected board member(s) are asked to recuse themselves from discussion and vote when there are issues that are potential conflicts of interest. This policy is strictly enforced and potential conflicts and their resolution are noted in the board minutes.

Form 990, Page 6, Part VI, Line 19

Governing documents are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Covenant Academy
EIN
30-0152850
Phone
2813732233
Address
11711 TELGE ROAD, CYPRESS, TX 77429

Signing Officer

Name
Leslie Collins
Title
Head of School
Phone
2813732233
Signed
2020-03-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rob Grooms
Formed
2003
Legal Domicile
TX
Voting Board Members
4
Independent Board Members
4
Employees
36
Volunteers
100

Preparer

Firm
Cox and Associates Cpas LLC
Address
21960 HIGHWAY 242, NEW CANEY, TX 77357
Preparer
Cynthia a Cox
Phone
2813998153
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

Volunteers are an invaluable resource for the school. They help the academic program in several ways including supporting teachers by making copies for them, grading rocket math, and by assisting with feasts, plays, and other class events. Other volunteers support academic events by judging the speech meet and acsi art competition, or by working as graders for math olympics. The fundraising events, like the spring banquet, provide many other opportunities for volunteers to assist the school. In the wake of hurricane harvey's devastation, volunteers provided many hours of work restoring the campus. As a result of this outpouring of support, we were able to reduce the financial cost of recovery. The four members of our board are all volunteers and provide oversight that guides our school.

Form 990, Part III

Program service accomplishments - continued student leadership development currently includes the addition of student leadership classes and encouraging, training, mentoring, and supporting an active student council. Students also participate in both the national and junior honor societies. In 2017-18 covenant academy began offering a before and after school care (basc) program for enrolled students from pre-k through 6th grade. Students are given time to play, rest, snack, work on homework and prepare for a successful school day both before and after school. Students enrolled in basc are mentored by upper school students under the supervision of covenant faculty. In partnership with our families, the basc program is available on a monthly or as needed basis for their convenience.

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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0ALL SCHOOL BROCHURES AND THE INTERNET SITE CONTAIN THE NON- DISCRIMATION POLICY. THE ANNUAL NEWSPAPER AD FOR THE SCHOOL ALSO CONTAINS THE NON-DISCRIMATION POLICY.
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0FAST TUITION SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1PATRIOT SCHOLARSHIPS
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0FAST TUITION SCHOLARSHIPS - AVAILABLE TOWARDS TUITION FOR ANY GRADE; SCHOLARSHIPS ARE BASED ON NEED. FAMILIES APPLY ONLINE TO FAST (A THIRD PARTY ORGANIZATION) WITH THE REQUIRED INFORMATION THAT WILL BE USED BY FAST TO DETERMINE THEIR ELIGIBILITY FOR TUITION ASSISTANCE; THIS DETERMINATION IS BASED ON PARAMETERS PROVIDED BY THE SCHOOL. FAST REVIEWS THE APPLICATIONS FOR SCHOLARSHIPS AND RECOMMENDS THE AMOUNT OF ELIGIBILITY, UP TO THE SCHOOL'S MAXIMUM OF 50% OF TUITION. IF FUNDS ARE AVAILABLE, THE SCHOOL'S BOARD THEN AWARDS ASSISTANCE TO EACH QUALIFYING FAMILY, BASED ON RECOMMENDATIONS BY FAST. IF INSUFFICIENT FUNDS ARE AVAILABLE, THE BOARD REDUCES THE ASSISTANCE TO EACH FAMILY IN ORDER TO ALLOW THE MAXIMUM NUMBER OF FAMILIES TO RECEIVE ASSISTANCE. PATRIOT SCHOLARSHIPS - THESE SCHOLARSHIPS ARE FOR TUITION FOR HIGH SCHOOL STUDENTS ONLY AND ARE BASED ON BOTH FINANCIAL NEED AND MERIT. THE PATRIOT APPLICATION IS SUBMITTED TO THE HEAD OF SCHOOL, ALONG WITH A FAST SCHOLARSHIP APPLICATION AND THE FAST RECOMMENDATION. THERE ARE DIFFERENT FACTORS TAKEN INTO CONSIDERATION, SUCH AS CHARACTER, GPA STANDING, DEMONSTRATED COMMITMENT TO COVENANTS MISSION, VOLUNTEER HOURS, ETC.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0MASTER KEY BUILDERS
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0PART OWNER
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0CONSTRUCTION WORK
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0VOLUNTEERS ARE AN INVALUABLE RESOURCE FOR THE SCHOOL. THEY HELP THE ACADEMIC PROGRAM IN SEVERAL WAYS INCLUDING SUPPORTING TEACHERS BY MAKING COPIES FOR THEM, GRADING ROCKET MATH, AND BY ASSISTING WITH FEASTS, PLAYS, AND OTHER CLASS EVENTS. OTHER VOLUNTEERS SUPPORT ACADEMIC EVENTS BY JUDGING THE SPEECH MEET AND ACSI ART COMPETITION, OR BY WORKING AS GRADERS FOR MATH OLYMPICS. THE FUNDRAISING EVENTS, LIKE THE SPRING BANQUET, PROVIDE MANY OTHER OPPORTUNITIES FOR VOLUNTEERS TO ASSIST THE SCHOOL. IN THE WAKE OF HURRICANE HARVEY'S DEVASTATION, VOLUNTEERS PROVIDED MANY HOURS OF WORK RESTORING THE CAMPUS. AS A RESULT OF THIS OUTPOURING OF SUPPORT, WE WERE ABLE TO REDUCE THE FINANCIAL COST OF RECOVERY. THE FOUR MEMBERS OF OUR BOARD ARE ALL VOLUNTEERS AND PROVIDE OVERSIGHT THAT GUIDES OUR SCHOOL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PROGRAM SERVICE ACCOMPLISHMENTS - CONTINUED STUDENT LEADERSHIP DEVELOPMENT CURRENTLY INCLUDES THE ADDITION OF STUDENT LEADERSHIP CLASSES AND ENCOURAGING, TRAINING, MENTORING, AND SUPPORTING AN ACTIVE STUDENT COUNCIL. STUDENTS ALSO PARTICIPATE IN BOTH THE NATIONAL AND JUNIOR HONOR SOCIETIES. IN 2017-18 COVENANT ACADEMY BEGAN OFFERING A BEFORE AND AFTER SCHOOL CARE (BASC) PROGRAM FOR ENROLLED STUDENTS FROM PRE-K THROUGH 6TH GRADE. STUDENTS ARE GIVEN TIME TO PLAY, REST, SNACK, WORK ON HOMEWORK AND PREPARE FOR A SUCCESSFUL SCHOOL DAY BOTH BEFORE AND AFTER SCHOOL. STUDENTS ENROLLED IN BASC ARE MENTORED BY UPPER SCHOOL STUDENTS UNDER THE SUPERVISION OF COVENANT FACULTY. IN PARTNERSHIP WITH OUR FAMILIES, THE BASC PROGRAM IS AVAILABLE ON A MONTHLY OR AS NEEDED BASIS FOR THEIR CONVENIENCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 990 IS SENT TO THE BOARD TOGETHER WITH THE INTERNALLY PREPARED FINANCIALS FOR THEIR REVIEW. ONCE ALL QUESTIONS HAVE BEEN RESOLVED THE 990 IS E-FILED AND A FINAL COPY PROVIDED TO THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL BOARD MEMBERS ARE ASKED ANNUALLY TO DISCLOSE ANY FINANCIAL CONFLICT OF INTEREST. IF ANY CONFLICT OF INTEREST EXISTS AT ANY TIME, THE AFFECTED BOARD MEMBER(S) ARE ASKED TO RECUSE THEMSELVES FROM DISCUSSION AND VOTE WHEN THERE ARE ISSUES THAT ARE POTENTIAL CONFLICTS OF INTEREST. THIS POLICY IS STRICTLY ENFORCED AND POTENTIAL CONFLICTS AND THEIR RESOLUTION ARE NOTED IN THE BOARD MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART III
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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