Civic Intelligence

Morristown Covenant Academy

990 • Fiscal year 2021 • EIN 77-0697543

Aug 01, 2020 to Jul 31, 2021 • Filed on Dec 10, 2021

Organization Profilewww.mcovenantacademy.net
PO Box 1737Morristown, TN 37816

(423) 587-3247

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.18x

Higher debt load relative to assets than 82% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

78th percentile

0.09x

Higher debt load relative to revenue than 78% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

25th percentile

-9.7%

Higher net margin than 25% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

59th percentile

13%

Faster asset growth than 59% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2021

Revenue Growth

55th percentile

9.5%

Faster revenue growth than 55% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2021

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Up

$127,310

Up $38,876 (+44%) from 2018

Net Assets

$104,224

No earlier filing loaded for comparison.

Liabilities

Up

$23,086

Up $871 (+3.9%) from 2018

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin25th percentile

Revenue

Up

$269,324

Up $64,424 (+31%) from 2018

Expenses

Up

$295,363

Up $77,325 (+35%) from 2018

Net Income

Down

-$26,039

Down $12,901 (-98%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth59th percentile

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

$300K$200K$100K$0Assets 2012: $90,365Liabilities 2012: $12,9272012Assets 2013: $100,249Liabilities 2013: $13,4942013Assets 2014: $90,734Liabilities 2014: $9,3352014Assets 2016: $73,385Liabilities 2016: $9,0152016Assets 2017: $93,045Liabilities 2017: $31,2972017Assets 2018: $88,434Liabilities 2018: $22,2152018Assets 2021: $127,310Liabilities 2021: $23,086Net Assets 2021: $104,2242021Assets 2023: $187,589Liabilities 2023: $41,557Net Assets 2023: $146,0322023Assets 2024: $203,305Liabilities 2024: $49,916Net Assets 2024: $153,3892024

Highlighted filing

2021

Assets$127,310
Liabilities$23,086
Net Assets$104,224
Open 2021 Filing

Operations Trend

Revenue Growth55th percentile

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

$400K$200K$0-$200KRevenue 2012: $149,991Expenses 2012: $149,949Net Income 2012: $422012Revenue 2013: $136,228Expenses 2013: $126,912Net Income 2013: $9,3162013Revenue 2014: $128,208Expenses 2014: $133,563Net Income 2014: -$5,3552014Revenue 2016: $135,530Expenses 2016: $150,710Net Income 2016: -$15,1802016Revenue 2017: $181,469Expenses 2017: $199,272Net Income 2017: -$17,8032017Revenue 2018: $204,900Expenses 2018: $218,038Net Income 2018: -$13,1382018Revenue 2021: $269,324Expenses 2021: $295,363Net Income 2021: -$26,0392021Revenue 2023: $327,624Expenses 2023: $356,330Net Income 2023: -$28,7062023Revenue 2024: $342,631Expenses 2024: $393,657Net Income 2024: -$51,0262024

Highlighted filing

2021

Revenue$269,324
Expenses$295,363
Net Income-$26,039
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2020 to Jul 31, 2021
Signed
Dec 10, 2021
Return Version
2020v4.0
Gross Receipts
$269,324
Mission and Program Overview

Mission

A religious corporation whose purpose is to establish maintain and operate a school to provide academic excellence for students in prek 12th grades

A ministry of Gateway Church since 1985. Offering Christ centered education opportunities to families who see that a viable and valuable alternative to secular public education. Placing a high degree of importance on academic excellence.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$81,724$104,224▲ $22,500
Land, Buildings, and Equipment, Net$68,216$72,305▲ $4,089
Cash and Non-Interest-Bearing Accounts$34,448$50,210▲ $15,762
Accounts Receivable$7,310$4,795▼ $2,515
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$109,974$127,310▲ $17,336
Liabilities
Accounts Payable and Accrued Expenses$28,250$23,086▼ $5,164
Total Liabilities$28,250$23,086▼ $5,164
Net Assets / Fund Balance
Total Net Assets Fund Balance$81,724$104,224▲ $22,500
Total Liabilities and Net Assets / Fund Balance$109,974$127,310▲ $17,336

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$0$0$0
Other Land Buildings$0$0$0
Land$0-$0
Equipment$72,305$0$0
Leasehold Improvements$0$0$0
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
Adam CooperOfficer
Brent CooperOfficer
Brian McLaughlinOfficer
Debra CooperOfficer
Doris SheltonOfficer
Jeanine CooperOfficer
Susan SchmidOfficer
Wayne SmithOfficer
Revenue and Support

Revenue Composition

Contributions and Grants
$4,002
Program Service Revenue
$265,322
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,686
Change in Net Assets
$-26,039

Audited Revenue Reconciliation

Revenue per Audited Statements
$269,324
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$269,324
Total Revenue per Form 990
$269,324
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$252,038
Other Expenses$43,325
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$194,981--$194,981
Office Expenses$32,717--$32,717
Other Employee Benefits$30,650--$30,650
Payroll Taxes$26,407--$26,407
Other Expenses$6,415$0$0$6,415
Advertising$3,498--$3,498
Conferences and Meetings$445--$445
Insurance$250--$250
Total Functional Expenses$295,363$0$0$295,363

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$295,363
Total Expenses per Audited Statements$295,363
Total Expenses per Form 990$295,363
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Other Expense Adjustments$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
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 35% controlled entity
No
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, Part VI, Section A, Line 8A

“Voting members carry the same amount of votes. Majority rules unless issues deem further investigation”

Form 990, Part VI, Section B, Line 11B

“None were used to review this form”

Form 990, Part VI, Section B, Line 12C

“Organization is small and has not made any financial decisions at all related to investments or purchases”

Form 990, Part VI, Section C, Line 19

“Non descriminatory policy is listed in our physical and online handbook as well as facebook page”

Filing and Contact Details

Filer

Filer Name
Morristown Covenant Academy
EIN
77-0697543
Phone
4235873247
Address
PO Box 1737, Morristown, TN 37816

Signing Officer

Name
Jeanine Cooper
Title
Administrator
Phone
4235873247
Signed
2021-12-10

Organization Details

Principal Officer
Adam Cooper
Formed
1985
Legal Domicile
Tn
Voting Board Members
8
Independent Board Members
8
Employees
22
Volunteers
0
Supplemental Narrative

Additional Explanations

Form 990, Part V, Line 3B

“No unrelated business was conducted”

Financial Statement Notes

Schedule D, Part VI, Line 1C

“2099”

Schedule D, Part VI, Line 1D

“37456”

Schedule D, Part VI, Line 1E

“32750”

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IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D, Part VI, Line 1c
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule D, Part VI, Line 1d
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule D, Part VI, Line 1e
IRS990ScheduleD/TotalBookValueLandBuildingsAmt072305
IRS990ScheduleD/TotalExpensesPerForm990Amt0295363
IRS990ScheduleD/TotalRevenuePerForm990Amt0269324
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0269324
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0295363
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd00
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0Our nondiscriminatory policy is located on our websites homepage handbook as well as on our FACEBOOK page
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0No unrelated business was conducted
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Voting members carry the same amount of votes. Majority rules unless issues deem further investigation
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2None were used to review this form
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Organization is small and has not made any financial decisions at all related to investments or purchases
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Non descriminatory policy is listed in our physical and online handbook as well as facebook page
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part V, Line 3b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, Line 8a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0TN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0109974
IRS990/TotalAssetsEOYAmt0127310
IRS990/TotalAssetsGrp/BOYAmt0109974
IRS990/TotalAssetsGrp/EOYAmt0127310
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt04002
IRS990/TotalEmployeeCnt022
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0295363
IRS990/TotalFunctionalExpensesGrp/TotalAmt0295363
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt028250
IRS990/TotalLiabilitiesEOYAmt023086
IRS990/TotalLiabilitiesGrp/BOYAmt028250
IRS990/TotalLiabilitiesGrp/EOYAmt023086
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt081724
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0104224
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt00
IRS990/TotalOtherProgSrvcGrantAmt00
IRS990/TotalOtherProgSrvcRevenueAmt00
IRS990/TotalOthProgramServiceRevGrp/ExclusionAmt00
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt00
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt0295363
IRS990/TotalProgramServiceRevenueAmt0265322
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0265322
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0269324
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0109974
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0127310
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0503 S Jackson St
IRS990/USAddress/CityNm0Morristown
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd037816
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0www.mcovenantacademy.net
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL2

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$127,310
Liabilities
$23,086
Net assets
$104,224
Revenue
$269,324
Expenses
$295,363
Net income
-$26,039
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.03$0.50$1.53$3.43$3.94$0.51
2023Detailed filing. Detailed filing data is available for this year.$1.88$0.42$1.46$3.28$3.56$0.29
2021Detailed filing. Detailed filing data is available for this year.$1.27$0.23$1.04$2.69$2.95$0.26
2018Summary only. Only limited summary data is available for this year.$0.88$0.22$2.05$2.18$0.13
2017Summary only. Only limited summary data is available for this year.$0.93$0.31$1.81$1.99$0.18
2016Summary only. Only limited summary data is available for this year.$0.73$0.09$1.36$1.51$0.15
2014Summary only. Only limited summary data is available for this year.$0.91$0.09$1.28$1.34$0.05
2013Summary only. Only limited summary data is available for this year.$1.00$0.13$1.36$1.27$0.09
2012Summary only. Only limited summary data is available for this year.$0.90$0.13$1.50$1.50$0.00