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Nonprofiteer
← COVENANT SCHOOL INC

Form 990 for tax year 2024

Filed by COVENANT SCHOOL INC.

Totals

Total revenue
$19,106,780
Total expenses
$17,818,781
Contributions and grants received
$1,221,586
Grants paid
$4,095,173
Program service revenue
$17,628,077
Investment income
$149,634
Other revenue
$107,483
Total assets, end of year
$18,069,730
Total liabilities, end of year
$7,306,597
Net assets or fund balances, end of year
$10,763,133
Program services expenses (Part IX)
$15,425,463
Management and general expenses
$2,040,033
Fundraising expenses
$353,285
Program service expenses (Part III)
$15,425,463

Program services were 86.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $32,863

  • 1f · All other contributions, gifts and grants

    $1,188,723

  • 1g · Noncash contributions included above

    $113,259

  • 2a · Program service revenue: TUITION & FEES

    total $17,061,719 · related or exempt $17,061,719

  • 2b · Program service revenue: AUXILIARY INCOME

    total $566,358 · related or exempt $566,358

  • 3 · Investment income

    total $149,634 · excluded $149,634

  • 6a · Gross rents

    real property $57,608

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $57,608

  • 6d · Net rental income or loss

    total $57,608 · excluded $57,608

  • 8a · Fundraising events: gross income

    $10,693

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $10,693 · excluded $10,693

  • 10a · Gross sales of inventory

    $164,657

  • 10b · Cost of goods sold

    $125,475

  • 10c · Net income from sales of inventory

    total $39,182 · related or exempt $39,182

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $4,095,173 · program services $4,095,173

  • 5 · Compensation of officers, directors and key employees

    total $613,086 · program services $312,090 · management and general $239,687 · fundraising $61,309

  • 7 · Other salaries and wages

    total $8,221,199 · program services $7,062,567 · management and general $1,007,079 · fundraising $151,553

  • 8 · Pension plan contributions

    total $252,346 · program services $204,577 · management and general $40,804 · fundraising $6,965

  • 9 · Other employee benefits

    total $719,273 · program services $580,022 · management and general $118,968 · fundraising $20,283

  • 10 · Payroll taxes

    total $636,614 · program services $531,431 · management and general $89,844 · fundraising $15,339

  • 11b · Fees: legal

    total $23,074 · management and general $23,074

  • 11c · Fees: accounting

    total $64,000 · management and general $64,000

  • 11g · Fees: other

    total $11,945 · management and general $11,945

  • 12 · Advertising and promotion

    total $48,841 · program services $43,742 · management and general $2,302 · fundraising $2,797

  • 13 · Office expenses

    total $299,071 · program services $130,185 · management and general $154,482 · fundraising $14,404

  • 14 · Information technology

    total $125,520 · program services $59,937 · management and general $53,461 · fundraising $12,122

  • 16 · Occupancy

    total $569,687 · program services $559,288 · management and general $9,488 · fundraising $911

  • 17 · Travel

    total $47,410 · program services $46,564 · management and general $82 · fundraising $764

  • 20 · Interest

    total $170,406 · program services $167,100 · management and general $3,016 · fundraising $290

  • 22 · Depreciation, depletion and amortization

    total $932,181 · program services $914,035 · management and general $16,525 · fundraising $1,621

  • 23 · Insurance

    total $140,478 · program services $77,263 · management and general $56,191 · fundraising $7,024

  • 24a · Other expenses: SPECIAL EVENTS/ACTIVITI

    total $213,456 · program services $207,056 · management and general $3,282 · fundraising $3,118

  • 24b · Other expenses: ATHLETICS

    total $149,577 · program services $149,577

  • 24c · Other expenses: SUBCONTRACT LABOR

    total $59,533 · program services $25,218 · management and general $31,915 · fundraising $2,400

  • 24e · All other expenses

    total $425,911 · program services $259,638 · management and general $113,888 · fundraising $52,385

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $300 · end of year $300

  • 2 · Savings and temporary cash investments

    beginning of year $2,733,043 · end of year $2,908,298

  • 3 · Pledges and grants receivable

    beginning of year $342,479 · end of year $105,055

  • 4 · Accounts receivable

    beginning of year $28,681 · end of year $42,529

  • 8 · Inventories for sale or use

    beginning of year $55,197 · end of year $49,837

  • 9 · Prepaid expenses and deferred charges

    beginning of year $189,371 · end of year $225,164

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

    $26,114,323

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

    $14,103,093

  • 10c · Land, buildings and equipment, net

    beginning of year $12,416,070 · end of year $12,011,230

  • 15 · Other assets

    beginning of year $821,115 · end of year $2,727,317

  • 17 · Accounts payable and accrued expenses

    beginning of year $936,849 · end of year $1,480,609

  • 19 · Deferred revenue

    beginning of year $1,506,320 · end of year $1,491,066

  • 20 · Tax-exempt bond liabilities

    beginning of year $4,553,826 · end of year $4,290,082

  • 25 · Other liabilities

    beginning of year $14,799 · end of year $44,840

  • 27 · Net assets without donor restrictions

    beginning of year $9,096,633 · end of year $10,468,638

  • 28 · Net assets with donor restrictions

    beginning of year $477,829 · end of year $294,495

Mission and programs · 2024

Mission

THE COVENANT SCHOOL SEEKS TO PROMOTE THE MORAL, INTELLECTUAL, AND PHYSICAL DEVELOPMENT OF YOUNG PEOPLE. WE FOSTER THE VIRTUES OF FAITH, WISDOM, AND LOVE THROUGH THE PURSUIT OF ACADEMIC EXCELLENCE AND THE RECOGNITION OF GOD'S SOVEREIGNTY OVER HIS CREATION.(CONT.-SCHEDULE O) WE NURTURE OUR STUDENTS, CHALLENGING THEM TO FOLLOW THE EXAMPLE OF JESUS CHRIST, TO ACHIEVE THROUGH SELF-DISCIPLINE, TO LEAD BY SERVICE TO OTHERS, AND TO GROW IN KNOWLEDGE AND VIRTUE.

Activities or mission (Part I)

PROMOTE THE MORAL, INTELLECTUAL, AND PHYSICAL DEVELOPMENT OF YOUNG PEOPLE. (SEE SCHEDULE O)

  • THE COVENANT SCHOOL IS AN INDEPENDENT CHRISTIAN SCHOOL PROVIDING EDUCATIONAL SERVICE TO APPROXIMATELY 760 STUDENTS GRADES PRE-KINDERGARTEN THROUGH 12TH GRADE.

    Expenses $11,330,290 · Revenue $17,667,259

  • FINANCIAL ASSISTANCE (FINANCIAL AID AND SCHOLARSHIPS) WAS PROVIDED TO 377 STUDENTS DURING THE ACADEMIC YEAR.

    Expenses $4,095,173 · Grants $4,095,173

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • MR JEFF BLOXSOM

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • MR ERIC HEINSOHN

    CHAIR

    Total calculated
    $0
    Hours/week
    10

  • MRS SARAH HUTCHINSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • MR STEVEN LUCK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • MR PIERRE POINDEXTER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • MR JUSTIN SMITH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • MRS DANIELLE WILCOX

    SECRETARY

    Total calculated
    $0
    Hours/week
    4

  • MR BRIAN CULLATY

    TREASURER

    Total calculated
    $0
    Hours/week
    4

  • MRS CLAIRE GRIFFIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • MRS LAUREN BYRNE

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    4

  • MRS KATHERINE MORRIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • MR BEN OCHS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • MRS MARGARET SCHMIDT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • MR CRAIG WOOD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • MR BRADLEY R BAGGETT

    HEAD OF SCHOOL

    Total calculated
    $352,432
    From this org
    $279,374
    From related orgs
    $0
    Other
    $73,058
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $279,374
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $73,058
    Filer's total
    $352,432

  • MR FRANK BERRY

    CFO/COO

    Total calculated
    $244,231
    From this org
    $202,735
    From related orgs
    $0
    Other
    $41,496
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $202,735
    Bonus
    $0
    Other
    $0
    Deferred
    $11,185
    Nontaxable benefits
    $30,311
    Filer's total
    $244,231

  • MRS WENDY HILL

    DIRECTOR OF ACCOUNTING

    Total calculated
    $137,026
    From this org
    $130,542
    From related orgs
    $0
    Other
    $6,484
    Hours/week
    45

  • MR COLIN ANDERSON

    DEAN OF FACULTY

    Total calculated
    $227,092
    From this org
    $152,380
    From related orgs
    $0
    Other
    $74,712
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $152,380
    Bonus
    $0
    Other
    $0
    Deferred
    $7,613
    Nontaxable benefits
    $67,099
    Filer's total
    $227,092

  • MR BRYAN R VERBRUGGE

    THEOLOGY DEPARTMENT CHAIR

    Total calculated
    $122,896
    From this org
    $114,950
    From related orgs
    $0
    Other
    $7,946
    Hours/week
    40

  • MR SPENCER BURTON

    MIDDLE SCHOOL DIRECTOR

    Total calculated
    $169,433
    From this org
    $121,394
    From related orgs
    $0
    Other
    $48,039
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $121,394
    Bonus
    $0
    Other
    $0
    Deferred
    $2,600
    Nontaxable benefits
    $45,439
    Filer's total
    $169,433

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • THE COVENANT ENDOWMENT FUND

    501(C)(3) · RECEIPT AND MANAGEMENT OF ENDOWED FUNDS TO SUPPORT THE COVENANT SCHOOL · VA · controlled entity

    Directly controlled by THE COVENANT SCHOOL

Provenance

Return type
form_990
Tax year
2024
Filed
11 December 2025
IRS schema version
2024v5.2
Source object
202543469349300434

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