Covenant Christian Academy in Peabody 
The information on this page was last updated 5/19/2026. If you see errors or omissions, please email: [email protected]
Summary
Covenant Christian Academy, established in 1991, is located in West Peabody, Massachusetts. Conveniently located in a quiet suburban setting near the intersection of Route 1, Interstate 95 and Route 128, Covenant serves over 425 students from over 45 communities in Eastern Massachusetts, and on Boston's North Shore.
Contact information
Mailing address:
Covenant Christian Academy
83 Pine Street
Peabody, MA 01960
Website: covenantchristianacademy.org
Phone: 978.535.7100
Email: [email protected]
Organization details
EIN: 043170101
CEO/President: David K. Anastasi
Chairman: Les Baird
Board size: 8
Founder:
Ruling year: 1994
Tax deductible: Yes
Fiscal year end: 06/30
Member of ECFA: No
Member of ECFA since:
Purpose
Mission statement
Covenant Christian Academy offers a Christian and Classical education that builds students' academic, spiritual and social foundations for lives of leadership and service in today's global community. A Covenant education prepares students to excel in collegiate studies and intellectual pursuits, nurtures Christian faith and character, and fosters individual gifts and abilities
Statement of faith
There is one God, the Creator and Sustainer of all things, infinite in being and perfection. He exists eternally in three Persons: the Father, the Son, and the Holy Spirit, who are of one substance and equal in power and glory.
The sixty-six canonical books of the Bible as originally written were inspired of God, hence free from error. They constitute the only infallible guide in faith and practice.
Man and woman, created in the image of the Triune God, through disobedience fell from their sinless state when tempted by Satan. Their rebellion plunged the entire human race into a state of sin and brought upon it the condition of spiritual and eternal death from which salvation comes only by the grace of God, through faith, on the basis of the work of Christ and by the agency of the Holy Spirit.
The eternally pre-existent Son was conceived by the Holy Spirit and was born of the Virgin Mary as Jesus Christ, in whom divine and human natures were united in one Person, both natures being whole, perfect and distinct. To accomplish salvation, He lived a sinless life and died on the cross as the sinner's substitute, shedding His blood for the remission of sins. On the third day He rose bodily from the dead. He ascended to the right hand of the Father where He performs the ministry of intercession. He will come again, personally and visibly, to complete His saving work and to consummate the eternal plan of God.
The Holy Spirit is the third Person of the Triune God. It is He who regenerates all who believe in the saving work of Christ. By justification, He gives believers a right standing before God: by sanctification He enables them to live a holy life: by glorification He brings to perfection the work of salvation in them.
God wonderfully and immutably creates each person male or female. These two distinct, complementary genders together reflect His image and nature. God established marriage as a lifelong, exclusive relationship between one man and one woman and therefore all intimate sexual activity outside the marriage relationship, whether heterosexual, homosexual, or otherwise, is immoral and therefore sin.
Those who have repented of sin and turned to God with childlike faith in the Lord Jesus Christ are accountable to God to live lives characterized by hatred of sin; to exhibit the fruit of the Holy Spirit; and to contribute by word and deed to the universal spread of the Gospel.
At the end of the age the bodies of the dead shall be raised. The righteous will enter into full possession of eternal bliss in the presence of God, and the wicked will be condemned to eternal death.
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Donor confidence score
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Transparency grade
D
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Financial efficiency ratings
Sector: K-12 Schools/Academies
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 549 of 1420 | 88 of 183 |
| Fund acquisition rating | | 846 of 1420 | 122 of 183 |
| Resource allocation rating | | 260 of 1420 | 37 of 183 |
| Asset utilization rating | | 773 of 1421 | 113 of 183 |
To understand our financial efficiency ratings, click here.
Financial ratios
| Funding ratios | Sector median | 2025 | 2024 | 2023 | 2022 | 2021 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 10% | 25% | 19% | 25% | 32% | 13% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 2% | 1% | 1% | 1% | 1% | 1% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 13% | 5% | 6% | 4% | 3% | 6% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 2% | 1% | 1% | 1% | 1% | 1% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 87% | 95% | 94% | 96% | 97% | 94% |
| Operating ratios | Sector median | 2025 | 2024 | 2023 | 2022 | 2021 |
Program expense ratio Program expense ratio = Program services / Total expenses | 83% | 89% | 88% | 88% | 88% | 89% |
Spending ratio Spending ratio = Total expenses / Total revenue | 93% | 96% | 86% | 95% | 90% | 88% |
Program output ratio Program output ratio = Program services / Total revenue | 75% | 85% | 76% | 83% | 79% | 78% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 7% | 4% | 14% | 5% | 10% | 12% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 7% | 5% | 20% | 8% | 14% | 17% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 14% | 10% | 10% | 11% | 11% | 10% |
| Investing ratios | Sector median | 2025 | 2024 | 2023 | 2022 | 2021 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.53 | 0.51 | 0.46 | 0.47 | 0.43 | 0.36 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 3.06 | 4.82 | 4.05 | 4.92 | 4.09 | 3.82 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.80 | 2.45 | 1.85 | 2.29 | 1.76 | 1.36 |
| Liquidity ratios | Sector median | 2025 | 2024 | 2023 | 2022 | 2021 |
Current ratio Current ratio = Total current assets / Total current liabilities | 2.80 | 1.46 | 1.59 | 1.03 | 1.43 | 1.83 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.35 | 0.68 | 0.63 | 0.97 | 0.70 | 0.55 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 3.98 | 1.55 | 2.40 | 0.18 | 2.06 | 4.00 |
| Solvency ratios | Sector median | 2025 | 2024 | 2023 | 2022 | 2021 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 29% | 61% | 63% | 67% | 67% | 70% |
Debt ratio Debt ratio = Debt / Total assets | 10% | 45% | 46% | 46% | 50% | 54% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 118% | 78% | 81% | 70% | 76% | 83% |
Financials
| Balance sheet | |||||
| Assets | 2025 | 2024 | 2023 | 2022 | 2021 |
| Cash | $3,342,320 | $4,014,303 | $3,005,077 | $3,320,770 | $3,389,521 |
| Receivables, inventories, prepaids | $42,488 | $73,403 | $39,961 | $46,015 | $54,575 |
| Short-term investments | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $3,384,808 | $4,087,706 | $3,045,038 | $3,366,785 | $3,444,096 |
| Long-term investments | $557,257 | $267,969 | $250,000 | $0 | $0 |
| Fixed assets | $12,063,404 | $11,663,537 | $11,095,496 | $10,164,022 | $9,701,907 |
| Other long-term assets | $315,972 | $532,181 | $592,441 | $252,927 | $0 |
| Total long-term assets | $12,936,633 | $12,463,687 | $11,937,937 | $10,416,949 | $9,701,907 |
| Total assets | $16,321,441 | $16,551,393 | $14,982,975 | $13,783,734 | $13,146,003 |
| Liabilities | 2025 | 2024 | 2023 | 2022 | 2021 |
| Payables and accrued expenses | $420,462 | $407,011 | $968,236 | $336,455 | $274,438 |
| Other current liabilities | $1,895,105 | $2,167,214 | $1,974,210 | $2,010,157 | $1,603,049 |
| Total current liabilities | $2,315,567 | $2,574,225 | $2,942,446 | $2,346,612 | $1,877,487 |
| Debt | $7,419,788 | $7,671,234 | $6,897,627 | $6,862,672 | $7,062,364 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $142,086 | $192,241 | $228,373 | $54,124 | $314,332 |
| Total long-term liabilities | $7,561,874 | $7,863,475 | $7,126,000 | $6,916,796 | $7,376,696 |
| Total liabilities | $9,877,441 | $10,437,700 | $10,068,446 | $9,263,408 | $9,254,183 |
| Net assets | 2025 | 2024 | 2023 | 2022 | 2021 |
| Without donor restrictions | $6,433,996 | $6,110,710 | $4,696,712 | $4,520,126 | $3,887,880 |
| With donor restrictions | $10,004 | $2,983 | $217,817 | $200 | $3,940 |
| Net assets | $6,444,000 | $6,113,693 | $4,914,529 | $4,520,326 | $3,891,820 |
| Revenues and expenses | |||||
| Revenue | 2025 | 2024 | 2023 | 2022 | 2021 |
| Total contributions | $419,471 | $514,914 | $328,665 | $166,754 | $307,250 |
| Program service revenue | $8,113,658 | $7,256,011 | $6,874,859 | $5,872,895 | $4,683,166 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $126,433 | $132,578 | $0 | $0 | $0 |
| Other revenue | ($43,124) | $856,821 | $165,445 | $529,305 | $347,772 |
| Total other revenue | $8,196,967 | $8,245,410 | $7,040,304 | $6,402,200 | $5,030,938 |
| Total revenue | $8,616,438 | $8,760,324 | $7,368,969 | $6,568,954 | $5,338,188 |
| Expenses | 2025 | 2024 | 2023 | 2022 | 2021 |
| Program services | $7,333,357 | $6,672,967 | $6,139,004 | $5,218,537 | $4,177,821 |
| Management and general | $849,876 | $792,152 | $753,950 | $668,998 | $477,824 |
| Fundraising | $102,898 | $96,041 | $81,812 | $52,913 | $39,359 |
| Total expenses | $8,286,131 | $7,561,160 | $6,974,766 | $5,940,448 | $4,695,004 |
| Change in net assets | 2025 | 2024 | 2023 | 2022 | 2021 |
| Surplus (deficit) | $330,307 | $1,199,164 | $394,203 | $628,506 | $643,184 |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $330,307 | $1,199,164 | $394,203 | $628,506 | $643,184 |
Compensation
| Name | Title | Compensation |
| David Anastasi | Head of School | $149,529 |
| Andrea Bergstrom | Lower School Principal | $97,375 |
| Jessica Rossotti | CFO | $78,810 |
Compensation data as of: 6/30/2025
Response from ministry
No response has been provided by this ministry.
The information below was provided to MinistryWatch by the ministry itself. It was last updated 5/19/2026. To update the information below, please email: [email protected]
History
September, 1991
Covenant Christian School is founded in Hamilton, MA by a group of parents and educators desiring a high-quality education for their children that is distinctly Christian.
Summer, 1993
The school moves to the Second Congregational Church in North Beverly with a student body of 35.
September, 1996
Grades 7 and 8 are added to the K-6 program.
February, 2001
Strategic plan completed that includes relocating to a state of the art facility, expanding the lower grades, and adding grades 9-12.
January, 2005
The Board of Directors votes unanimously to move the school to West Peabody and immediately launches the Building the New Covenant campaign to construct the new facility.
July, 2005
Construction begins on the initial 30,000sq/ft space.
September 15, 2005
School begins in the newly constructed facility in West Peabody with the new name Covenant Christian Academy.
Summer, 2006
Phase II construction begins on the high school space and 4 new elementary and middle school classrooms.
September, 2006
20 freshmen begin classes at Covenant as the start of our comprehensive high school program.
Fall, 2006
The Academy launches the Legacy Partners campaign to purchase the 111,000 sq/ft West Peabody Office Park.
December 6, 2006
Covenant entered official candidacy for Accreditation by the New England Association of Schools and Colleges (NEAS&C).
February 28, 2007
Covenant Christian Academy completes the purchase of the West Peabody Office Park at 83 Pine Street. Enrollment climbs above 200 students and our professional faculty and staff totals over 40 people.
November 18, 2009
CCA receives notification that it has been approved by the NEAS&C commission for accreditation. The NEAS&C is the oldest and the most highly reputed accrediting organization in the country.
December 12, 2009
CCA receives approval for accreditation by the Association of Christian Schools International (ACSI).
June 12, 2010
Commencement Exercises for the Class of 2010, our inaugural 12th grade Class.
September, 2011
With enrollment hitting 240, CCA Celebrates 20 years of excellence in Christian education!
June, 2013
CCA's first Head of School, Dr. Thomas Stoner, completes his tenure.
March, 2014
Mr. Robert Armstrong appointed as CCA's second Head of School.
February, 2016
CCA's second Head of School, Mr. Robert Armstrong, completes his tenure.
January, 2017
Mrs. Andrea Bergstrom appointed as CCA's third Head of School.
May, 2021
The Performing Arts and Athletic Center opened.
September, 2021
With enrollment at over 380 students, Covenant Christian Academy enters its 30th year dedicated to providing an outstanding Christian and Classical Education, anchored in the truth of Jesus Christ.
January, 2023
Mr. David Anastasi appointed as CCA's fourth Head of School.
July, 2023
CCA increases its square footage by 12% with the addition of a new Logic School wing and a new Fine Arts wing to accommodate record school year enrollment of over 430 students!