Civic Intelligence

Covenant Preparatory School Inc.

990 • Fiscal year 2022 • EIN 80-0827152

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 13, 2023

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

69th percentile

0.03x

Higher debt load relative to assets than 69% of similar nonprofits.

2022 filings • NTEE B99 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

69th percentile

0.02x

Higher debt load relative to revenue than 69% of similar nonprofits.

2022 filings • NTEE B99 • <$500k nonprofits • Source year 2022

Net Margin

21st percentile

-26%

Higher net margin than 21% of similar nonprofits.

2022 filings • NTEE B99 • <$500k nonprofits • Source year 2022

Top Officer Pay

87th percentile

$24,363

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 9.3% of source-year revenue.

2022 filings • NTEE B99 • <$500k nonprofits • Source year 2022

Asset Growth

19th percentile

-28%

Faster asset growth than 19% of similar nonprofits.

2022 filings • NTEE B99 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

22nd percentile

-21%

Faster revenue growth than 22% of similar nonprofits.

2022 filings • NTEE B99 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets69th percentile

Assets

Down

$167,573

Down $65,434 (-28%) from 2021

Net Assets

Down

$161,914

Down $67,450 (-29%) from 2021

Liabilities

Up

$5,659

Up $2,016 (+55%) from 2021

Revenue And Expenses
Liabilities / Revenue69th percentileNet Margin21st percentile

Revenue

Down

$260,577

Down $68,709 (-21%) from 2021

Expenses

Up

$328,027

Up $75,290 (+30%) from 2021

Net Income

Down

-$67,450

Down $143,999 (-188%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth19th 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

2022

Assets$167,573
Liabilities$5,659
Net Assets$161,914
Open 2022 Filing

Operations Trend

Revenue Growth22nd 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

2022

Revenue$260,577
Expenses$328,027
Net Income-$67,450
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 13, 2023
Return Version
2022v5.0
Gross Receipts
$260,577
Mission and Program Overview

Mission

To provide christian based classical eduation

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$104,482$106,693▲ $2,211
Cash and Non-Interest-Bearing Accounts$116,781$50,197▼ $66,584
Land, Buildings, and Equipment, Net$11,744$10,683▼ $1,061
Total Assets$233,007$167,573▼ $65,434
Liabilities
Accounts Payable and Accrued Expenses$3,643$5,659▲ $2,016
Total Liabilities$3,643$5,659▲ $2,016
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$229,364$161,914▼ $67,450
Total Net Assets Fund Balance$229,364$161,914▼ $67,450
Total Liabilities and Net Assets / Fund Balance$233,007$167,573▼ $65,434

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$10,683$5,515$16,198
Land$0--
Compensation and Service Providers
Top Officer Pay87th percentile

Employees

NameTitleBaseTotal
Brittany PortnoryPreschool/admin/board Member$24,363$24,363
Drew ManeyHeadmaster$15,300$15,300

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$10,828
Program Service Revenue
$243,960
Investment Income
$53
Other Revenue
$5,736
All Other Contributions
$10,828
Change in Net Assets
$-67,450
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$252,289
Other Expenses$75,738
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$193,163$0$0$193,163
Current Officers, Directors, Trustees, and Key Employees$39,663$0$0$39,663
All Other Expenses$19,866$5,799$0$25,665
Payroll Taxes$19,463$0$0$19,463
Other Expenses$19,181$0$0$19,181
Occupancy$0$9,510$0$9,510
Fees for Services Accounting$0$8,552$0$8,552
Office Expenses$0$4,300$0$4,300
Insurance$1,889$0$0$1,889
Depreciation Depletion$1,061$0$0$1,061
Advertising$0$116$0$116
Total Functional Expenses$299,750$28,277$0$328,027
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$5,736
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
2023-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William Crisp
Formed
2012
Legal Domicile
Nc
Voting Board Members
8
Independent Board Members
6
Employees
27
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/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
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IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
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/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt028277
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0299750
IRS990/TotalFunctionalExpensesGrp/TotalAmt0328027
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03643
IRS990/TotalLiabilitiesEOYAmt05659
IRS990/TotalLiabilitiesGrp/BOYAmt03643
IRS990/TotalLiabilitiesGrp/EOYAmt05659
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IRS990/TotalOtherCompensationAmt00
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IRS990/TotalProgramServiceRevenueAmt0243960
IRS990/TotalReportableCompFromOrgAmt039663
IRS990/TotalRevenueGrp/ExclusionAmt05789
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0243960
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0260577
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0649 PEE DEE ROAD
IRS990/USAddress/CityNm0SOUTHERN PINES
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028387
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0WILLIAM CRISP
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum09106925834
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-13
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/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561780972
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Busby & Co
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0170 E Connecticut Ave
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Southern Pines

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$167,573
Liabilities
$5,659
Net assets
$161,914
Revenue
$260,577
Expenses
$328,027
Net income
-$67,450
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$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
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