COVENANT CHRISTIAN ACADEMY
Mission Statement
The mission of Covenant Christian Academy is to provide students with a classical education that: - Imparts an excellent academic foundation and a love for learning - Trains them to see and submit to the Lordship of Christ in every sphere of life - Prepares them to effectively serve God and thoughtfully engage the world with a distinctly Christian world view Our goal is to equip students with the knowledge, skills and vision necessary to be effective leaders and servants for Christ in a wide variety of professions and vocations. We seek to raise up a generation of young people who have a genuine love of learning, who love Jesus Christ with all their heart, soul and mind, and who can articulate the Christian message with clarity, creativity and courage.
Financial Overview — FY 2023
Compared with Peers
FY 2023| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
76.7% | 84.5% |
P10P90
|
Below median |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
17.2% | 13.0% |
P10P90
|
Below median |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
6.1% | 0.0% |
P10P90
|
Bottom quarter |
|
Fundraising efficiency
Fundraising expenses / gross fundraising income
· lower is better
|
362.9% | 64.5% |
P10P90
|
Bottom quarter |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
14.4 mo | 8.6 mo |
P10P90
|
Above median |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
53.7% | 23.0% |
P10P90
|
Below median |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
70.3% | 90.7% |
P10P90
|
Top quarter |
|
Revenue growth
Year over year revenue growth
|
14.7% | 7.5% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
4.5% | 11.6% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
11.2% | 3.2% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2023 | $2.7M | $2.4M | $2.9M | 76.7% | 62 |
| 2022 | $2.3M | $2.3M | $2.6M | 78.9% | 56 |
| 2021 | $3.6M | $2.0M | N/A | — | 56 |
| 2020 | $2.0M | $1.9M | N/A | — | 55 |
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