Civic Intelligence

Covenant Preparatory School Inc.

990 • Fiscal year 2020 • EIN 80-0827152

Jan 01, 2020 to Dec 31, 2020 • Filed on Apr 26, 2021

Organization ProfileN/A
649 Pee Dee RoadSouthern Pines, NC 28387

(910) 692-5834

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.02x

Higher debt load relative to assets than 63% of similar nonprofits.

2020 filings • NTEE B99 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

61st percentile

0.01x

Higher debt load relative to revenue than 61% of similar nonprofits.

2020 filings • NTEE B99 • <$500k nonprofits • Source year 2020

Net Margin

51st percentile

9.0%

Higher net margin than 51% of similar nonprofits.

2020 filings • NTEE B99 • <$500k nonprofits • Source year 2020

Top Officer Pay

85th percentile

$27,500

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 10.5% of source-year revenue.

2020 filings • NTEE B99 • <$500k nonprofits • Source year 2020

Asset Growth

59th percentile

18%

Faster asset growth than 59% of similar nonprofits.

2020 filings • NTEE B99 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

90th percentile

65%

Faster revenue growth than 90% of similar nonprofits.

2020 filings • NTEE B99 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets63rd percentile

Assets

Up

$155,446

Up $23,846 (+18%) from 2019

Net Assets

$152,815

No earlier filing loaded for comparison.

Liabilities

Up

$2,631

Up $301 (+13%) from 2019

Revenue And Expenses
Liabilities / Revenue61st percentileNet Margin51st percentile

Revenue

Up

$261,048

Up $102,861 (+65%) from 2019

Expenses

Up

$237,502

Up $27,991 (+13%) from 2019

Net Income

Up

$23,546

Up $74,870 (+146%) from 2019

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$0-$100KAssets 2014: $124,895Liabilities 2014: $97,9672014Assets 2015: $125,116Liabilities 2015: $86,5842015Assets 2016: $73,737Liabilities 2016: $3,7452016Assets 2017: $81,859Liabilities 2017: -$5,9732017Assets 2018: $193,315Liabilities 2018: $4,720Net Assets 2018: $188,5952018Assets 2019: $131,600Liabilities 2019: $2,3302019Assets 2020: $155,446Liabilities 2020: $2,631Net Assets 2020: $152,8152020Assets 2021: $233,007Liabilities 2021: $3,643Net Assets 2021: $229,3642021Assets 2022: $167,573Liabilities 2022: $5,659Net Assets 2022: $161,9142022

Highlighted filing

2020

Assets$155,446
Liabilities$2,631
Net Assets$152,815
Open 2020 Filing

Operations Trend

Revenue Growth90th percentile

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

$400K$300K$200K$100K$0-$100KRevenue 2014: $136,466Expenses 2014: $135,643Net Income 2014: $8232014Revenue 2015: $188,702Expenses 2015: $177,097Net Income 2015: $11,6052015Revenue 2016: $196,820Expenses 2016: $165,359Net Income 2016: $31,4612016Revenue 2017: $138,884Expenses 2017: $121,045Net Income 2017: $17,8392017Revenue 2018: $244,933Expenses 2018: $140,047Net Income 2018: $104,8862018Revenue 2019: $158,187Expenses 2019: $209,511Net Income 2019: -$51,3242019Revenue 2020: $261,048Expenses 2020: $237,502Net Income 2020: $23,5462020Revenue 2021: $329,286Expenses 2021: $252,737Net Income 2021: $76,5492021Revenue 2022: $260,577Expenses 2022: $328,027Net Income 2022: -$67,4502022

Highlighted filing

2020

Revenue$261,048
Expenses$237,502
Net Income$23,546
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Apr 26, 2021
Return Version
2020v4.1
Gross Receipts
$261,898
Mission and Program Overview

Mission

To provide christian based classical eduation

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$95,369$98,846▲ $3,477
Savings and Temporary Cash Investments$22,243$43,794▲ $21,551
Land, Buildings, and Equipment, Net$13,988$12,806▼ $1,182
Total Assets$131,600$155,446▲ $23,846
Liabilities
Accounts Payable and Accrued Expenses$2,331$2,631▲ $300
Total Liabilities$2,331$2,631▲ $300
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$129,269$152,815▲ $23,546
Total Net Assets Fund Balance$129,269$152,815▲ $23,546
Total Liabilities and Net Assets / Fund Balance$131,600$155,446▲ $23,846

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$12,806$3,392$16,198
Land$0--
Compensation and Service Providers
Top Officer Pay85th percentile

Employees

NameTitleBaseTotal
Brittany PortnoryPreschool Teacher/admin/board Member$27,500$27,500
Drew ManeyHeadmaster$15,000$15,000

Board Members and Trustees

NameTitle
Ryan ConsieAssistant Treasure/board Member
Bill BivansBoard Member
Dale CrispBoard Member
Glen FisherBoard Member
Jacquelene SpearingBoard Member
William CrispTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$5,960
Program Service Revenue
$246,080
Investment Income
$15
Other Revenue
$8,993
All Other Contributions
$5,960
Change in Net Assets
$23,546
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$195,265
Other Expenses$42,237
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$138,478$0$0$138,478
Current Officers, Directors, Trustees, and Key Employees$42,500$0$0$42,500
Occupancy$0$19,329$0$19,329
Payroll Taxes$14,287$0$0$14,287
Fees for Services Accounting$0$8,283$0$8,283
All Other Expenses$2,884$1,725$0$4,609
Other Expenses$2,981$0$0$2,981
Insurance$1,982$0$0$1,982
Depreciation Depletion$0$1,182$0$1,182
Office Expenses$0$1,087$0$1,087
Advertising$0$81$0$81
Total Functional Expenses$205,815$31,687$0$237,502
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$9,843
Fundraising Direct Expenses$850
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
Yes
Audit committee
No
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Covenant Preparatory School Inc
EIN
80-0827152
Phone
9106925834
Address
649 PEE DEE ROAD, SOUTHERN PINES, NC 28387

Signing Officer

Name
William Crisp
Title
Treasurer
Phone
9106925834
Signed
2021-04-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William Crisp
Formed
2012
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
5
Employees
17
Volunteers
8

Preparer

Firm
Busby & Co
Address
170 E Connecticut Ave, Southern Pines, NC 28387
Preparer
J L Busby
Phone
9106921040
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“The board reviews tax return before it is filed.”

Pt VI, Line 15B

“Compensation of all paid staff is reviewed and approved by the board.”

Pt VI, Line 18

“School's website is currently being extensively revised and will include all documents online when completed. Until then the documents are available upon request.”

Pt VI, Line 19

“Same answer as line 18 above.”

Pt VI, Line 15A

“Compensation of all paid staff is reviewed and approved by the board.”

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IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0COVENANT PREPARATORY SCHOOL, INC. PUBLISHES ITS NONDISCRIMINATORY POLICY ON ITS WEBSITE AND IN BROCHURES AND PAMPHLETS THAT ARE MADE AVAILABLE TO THE COMMUNITY. ALL APPLICANTS ARE MADE AWARE OF THESE POLICIES THROUGH PRINTED AND INTERNET MEDIA, AS WELL AS VERBALLY IN INTERVIEW PROCESS. ALL POLICIES ARE ON THE WEBSITE AND IN BROCHURES PUBLISHED TO SOLICIT STUDENT ATTENDANCE
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Line 3
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD REVIEWS TAX RETURN BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COMPENSATION OF ALL PAID STAFF IS REVIEWED AND APPROVED BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SCHOOL'S WEBSITE IS CURRENTLY BEING EXTENSIVELY REVISED AND WILL INCLUDE ALL DOCUMENTS ONLINE WHEN COMPLETED. UNTIL THEN THE DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SAME ANSWER AS LINE 18 ABOVE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPENSATION OF ALL PAID STAFF IS REVIEWED AND APPROVED BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 15a
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IRS990/TaxablePartyNotificationInd0false
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IRS990/TotalAssetsGrp/BOYAmt0131600
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IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt031687
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0205815
IRS990/TotalFunctionalExpensesGrp/TotalAmt0237502
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesGrp/BOYAmt02331
IRS990/TotalLiabilitiesGrp/EOYAmt02631
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0152815
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0205815
IRS990/TotalProgramServiceRevenueAmt0246080
IRS990/TotalReportableCompFromOrgAmt042500
IRS990/TotalRevenueGrp/ExclusionAmt09008
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0246080
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0261048
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
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IRS990/USAddress/CityNm0SOUTHERN PINES
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028387
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0WILLIAM CRISP
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum09106925834
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-04-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0COVENANT PREPARATORY SCHOOL INC
ReturnHeader/Filer/BusinessNameControlTxt0COVE
ReturnHeader/Filer/EIN0800827152
ReturnHeader/Filer/PhoneNum09106925834
ReturnHeader/Filer/USAddress/AddressLine1Txt0649 PEE DEE ROAD
ReturnHeader/Filer/USAddress/CityNm0SOUTHERN PINES
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028387
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Busby & Co
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0170 E Connecticut Ave
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Southern Pines
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028387
ReturnHeader/PreparerPersonGrp/PhoneNum09106921040
ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0J L BUSBY
ReturnHeader/ReturnTs02021-11-15T13:10:20-08:00
ReturnHeader/ReturnTypeCd0990

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$155,446
Liabilities
$2,631
Net assets
$152,815
Revenue
$261,048
Expenses
$237,502
Net income
$23,546
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.68$0.06$1.62$2.61$3.28$0.67
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.33$0.04$2.29$3.29$2.53$0.77
2020Detailed filing. Detailed filing data is available for this year.$1.55$0.03$1.53$2.61$2.38$0.24
2019Summary only. Only limited summary data is available for this year.$1.32$0.02$1.58$2.10$0.51
2018Summary only. Only limited summary data is available for this year.$1.93$0.05$1.89$2.45$1.40$1.05
2017Summary only. Only limited summary data is available for this year.$0.82$0.06$1.39$1.21$0.18
2016Summary only. Only limited summary data is available for this year.$0.74$0.04$1.97$1.65$0.31
2015Summary only. Only limited summary data is available for this year.$1.25$0.87$1.89$1.77$0.12
2014Summary only. Only limited summary data is available for this year.$1.25$0.98$1.36$1.36$0.01