Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $32,843

• 1f · All other contributions, gifts and grants

  $248,337

• 2a · Program service revenue: EDUCATION

  total $15,616,530 · related or exempt $15,616,530

• 2b · Program service revenue: BOARD AND CARE

  total $12,351,855 · related or exempt $12,351,855

• 2c · Program service revenue: DIRECT SERVICES

  total $6,247,188 · related or exempt $6,247,188

• 3 · Investment income

  total $722,365 · excluded $722,365

• 6a · Gross rents

  real property $52,920

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $52,920

• 6d · Net rental income or loss

  total $52,920 · excluded $52,920

• 7a · Gross sales of assets other than inventory

  securities $20,561

• 7b · Less cost or other basis and sales expenses

  securities $0

• 7c · Gain or loss

  securities $20,561

• 7d · Net gain or loss

  total $20,561 · excluded $20,561

• 8a · Fundraising events: gross income

  $17,032

• 8a · Fundraising events: contributions included on line 1c

  $32,843

• 8b · Fundraising events: direct expenses

  $25,539

• 8c · Net income from fundraising events

  total -$8,507 · excluded -$8,507

• 11a · Other revenue: CSI ALLOCATION

  total $54,150 · related or exempt $54,150

• 11b · Other revenue: INSURANCE PROCEEDS

  total $31,173 · related or exempt $31,173

• 11c · Other revenue: BARKERY INCOME

  total $24,114 · related or exempt $24,114

• 11d · All other revenue

  total $453,846 · related or exempt $453,846

• 11e · Other revenue, total

  $563,283

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $732,431 · management and general $732,431

• 7 · Other salaries and wages

  total $18,468,872 · program services $16,954,305 · management and general $1,425,925 · fundraising $88,642

• 8 · Pension plan contributions

  total $232,040 · program services $213,546 · management and general $17,731 · fundraising $763

• 9 · Other employee benefits

  total $1,573,918 · program services $1,489,863 · management and general $78,730 · fundraising $5,325

• 10 · Payroll taxes

  total $2,218,889 · program services $1,969,145 · management and general $242,707 · fundraising $7,037

• 11b · Fees: legal

  total $79,893 · program services $47,370 · management and general $31,038 · fundraising $1,485

• 11c · Fees: accounting

  total $69,355 · management and general $69,355

• 11g · Fees: other

  total $1,660,503 · program services $1,025,653 · management and general $602,686 · fundraising $32,164

• 14 · Information technology

  total $499,120 · program services $302,908 · management and general $191,768 · fundraising $4,444

• 16 · Occupancy

  total $754,351 · program services $654,936 · management and general $99,415

• 17 · Travel

  total $157,067 · program services $122,340 · management and general $34,714 · fundraising $13

• 20 · Interest

  total $267,943 · program services $121,318 · management and general $146,625

• 22 · Depreciation, depletion and amortization

  total $1,135,115 · program services $864,450 · management and general $270,665

• 23 · Insurance

  total $539,837 · program services $454,868 · management and general $83,726 · fundraising $1,243

• 24a · Other expenses: MAINTENANCE

  total $638,051 · program services $565,512 · management and general $72,539

• 24b · Other expenses: OTHER SUPPLIES

  total $636,629 · program services $582,107 · management and general $52,271 · fundraising $2,251

• 24c · Other expenses: FOOD

  total $314,066 · program services $287,169 · management and general $25,786 · fundraising $1,111

• 24d · Other expenses: FUNDRAISING EVENTS

  total $12,933 · fundraising $12,933

• 24e · All other expenses

  total $156,086 · program services $51,409 · management and general $81,639 · fundraising $23,038

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $554,325 · end of year $254,066

• 2 · Savings and temporary cash investments

  beginning of year $15,427,354 · end of year $19,188,487

• 4 · Accounts receivable

  beginning of year $5,584,750 · end of year $5,127,917

• 8 · Inventories for sale or use

  beginning of year $17,375 · end of year $12,815

• 9 · Prepaid expenses and deferred charges

  beginning of year $420,522 · end of year $174,264

• 10a · Land, buildings and equipment: cost or other basis

  $30,432,265

• 10b · Land, buildings and equipment: accumulated depreciation

  $15,031,271

• 10c · Land, buildings and equipment, net

  beginning of year $12,264,000 · end of year $15,400,994

• 11 · Investments: publicly traded securities

  beginning of year $1,869,864 · end of year $2,089,049

• 14 · Intangible assets

  beginning of year $1,373,851 · end of year $942,584

• 15 · Other assets

  beginning of year $351,495 · end of year $368,307

• 17 · Accounts payable and accrued expenses

  beginning of year $1,850,897 · end of year $2,478,410

• 23 · Secured mortgages and notes payable

  beginning of year $6,132,598 · end of year $6,053,597

• 25 · Other liabilities

  beginning of year $1,903,484 · end of year $1,192,008

• 27 · Net assets without donor restrictions

  beginning of year $26,531,816 · end of year $32,145,311

• 28 · Net assets with donor restrictions

  beginning of year $1,444,741 · end of year $1,689,157

The filer's explanations (Part III)

PART I, LINE 4B

THE CEO PARTICIPATED IN A 457F PLAN WITH COVENANT MINISTRIES, A RELATED ORGANIZATION DURING THE FISCAL YEAR.

PART I, LINE 7

THE CEO RECEIVED A CALENDAR YEAR BONUS WHICH WAS REPORTED IN HER 2023 W2.