Civic Intelligence

Covenant Preparatory School Inc.

990 • Fiscal year 2021 • EIN 80-0827152

Jan 01, 2021 to Dec 31, 2021 • Filed on Sep 23, 2022

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

62nd percentile

0.02x

Higher debt load relative to assets than 62% of similar nonprofits.

2021 filings • NTEE B99 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

61st percentile

0.01x

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

2021 filings • NTEE B99 • <$500k nonprofits • Source year 2021

Net Margin

65th percentile

23%

Higher net margin than 65% of similar nonprofits.

2021 filings • NTEE B99 • <$500k nonprofits • Source year 2021

Top Officer Pay

85th percentile

$21,863

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 6.6% of source-year revenue.

2021 filings • NTEE B99 • <$500k nonprofits • Source year 2021

Asset Growth

82nd percentile

50%

Faster asset growth than 82% of similar nonprofits.

2021 filings • NTEE B99 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

66th percentile

26%

Faster revenue growth than 66% of similar nonprofits.

2021 filings • NTEE B99 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets62nd percentile

Assets

Up

$233,007

Up $77,561 (+50%) from 2020

Net Assets

Up

$229,364

Up $76,549 (+50%) from 2020

Liabilities

Up

$3,643

Up $1,012 (+38%) from 2020

Revenue And Expenses
Liabilities / Revenue61st percentileNet Margin65th percentile

Revenue

Up

$329,286

Up $68,238 (+26%) from 2020

Expenses

Up

$252,737

Up $15,235 (+6.4%) from 2020

Net Income

Up

$76,549

Up $53,003 (+225%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth82nd 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

2021

Assets$233,007
Liabilities$3,643
Net Assets$229,364
Open 2021 Filing

Operations Trend

Revenue Growth66th 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

2021

Revenue$329,286
Expenses$252,737
Net Income$76,549
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Sep 23, 2022
Return Version
2021v4.1
Gross Receipts
$334,393
Mission and Program Overview

Mission

To provide christian based classical eduation

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$98,846$116,781▲ $17,935
Savings and Temporary Cash Investments$43,794$104,482▲ $60,688
Land, Buildings, and Equipment, Net$12,806$11,744▼ $1,062
Total Assets$155,446$233,007▲ $77,561
Liabilities
Accounts Payable and Accrued Expenses$2,631$3,643▲ $1,012
Total Liabilities$2,631$3,643▲ $1,012
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$152,815$229,364▲ $76,549
Total Net Assets Fund Balance$152,815$229,364▲ $76,549
Total Liabilities and Net Assets / Fund Balance$155,446$233,007▲ $77,561

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$11,744$4,454$16,198
Land$0--
Compensation and Service Providers
Top Officer Pay85th percentile

Employees

NameTitleBaseTotal
Brittany PortnoryPreschool/admin/board Member$21,863$21,863
Drew ManeyHeadmaster$5,625$5,625

Board Members and Trustees

NameTitle
Ryan ConsieAssistant Treasure/board Member
Dale CrispBoard Member
Glen FisherBoard Member
Luke McdowellBoard Member
William CrispTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$71,428
Program Service Revenue
$255,953
Investment Income
$54
Other Revenue
$1,851
All Other Contributions
$71,428
Change in Net Assets
$76,549
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$205,235
Other Expenses$47,502
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$162,033$0$0$162,033
Current Officers, Directors, Trustees, and Key Employees$27,488$0$0$27,488
Payroll Taxes$15,714$0$0$15,714
All Other Expenses$9,784$4,583$0$14,367
Other Expenses$9,541$0$0$9,541
Fees for Services Accounting$0$8,572$0$8,572
Occupancy$0$8,008$0$8,008
Insurance$2,636$0$0$2,636
Depreciation Depletion$1,062$0$0$1,062
Advertising$0$289$0$289
Office Expenses$0$103$0$103
Total Functional Expenses$231,182$21,555$0$252,737
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$6,958
Fundraising Direct Expenses$5,107
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
2022-09-23
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
20
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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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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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/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt021555
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0231182
IRS990/TotalFunctionalExpensesGrp/TotalAmt0252737
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesGrp/BOYAmt02631
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IRS990/TotalProgramServiceRevenueAmt0255953
IRS990/TotalReportableCompFromOrgAmt027488
IRS990/TotalRevenueGrp/ExclusionAmt01905
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0255953
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0329286
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0155446
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0233007
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IRS990/USAddress/ZIPCd028387
IRS990/VotingMembersGoverningBodyCnt07
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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/SignatureDt02022-09-23
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/PreparerFirmEIN0561780972
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/PreparationDt02022-09-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0J L BUSBY
ReturnHeader/ReturnTs02022-09-30T10:48:07-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0WILLIAM
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0CRISP
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$233,007
Liabilities
$3,643
Net assets
$229,364
Revenue
$329,286
Expenses
$252,737
Net income
$76,549
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
2021Detailed filing. Detailed filing data is available for this year.$2.33$0.04$2.29$3.29$2.53$0.77
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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