Covenant Classical School, Fort Worth 
The information on this page was last updated 10/9/2026. If you see errors or omissions, please email: [email protected]
Summary
Covenant Classical School is a private, non-denominational classical Christian K'12 school in Fort Worth, Texas.
Contact information
Mailing address:
Covenant Classical School
1701 Wind Star Way
Fort Worth, TX 76108
Website: covenantfw.org
Phone: (817) 820'0884
Email: [email protected]
Organization details
EIN: 752821065
CEO/President: Troy Schuknecht
Chairman: Ben Cowan
Board size: 10
Founder:
Ruling year: 1999
Tax deductible: Yes
Fiscal year end: 07/31
Member of ECFA: No
Member of ECFA since:
Purpose
Our vision is for students to discover the joy of learning and the grace of Jesus Christ.
Mission statement
Covenant Classical School partners with Christian parents to train students to live and think according to a biblical, Christ-centered worldview. We provide a rigorous, classical education that instills a lifelong love of learning.
Statement of faith
https://covenantclassicalschool.org/wp-content/uploads/2022-2023-Parent-Handbook-Updated.pdf
Donor confidence score
Show donor confidence score details
To understand our donor confidence score, click here.
Transparency grade
D
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: K-12 Schools/Academies
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 1460 of 1582 | 268 of 271 |
| Fund acquisition rating | | 1005 of 1583 | 186 of 271 |
| Resource allocation rating | | 1463 of 1583 | 255 of 271 |
| Asset utilization rating | | 1229 of 1583 | 229 of 271 |
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 | 9% | 16% | 13% | 19% | 10% | 16% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 2% | 3% | 3% | 3% | 3% | 5% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 12% | 19% | 21% | 17% | 34% | 28% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 2% | 4% | 3% | 4% | 5% | 7% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 88% | 81% | 79% | 83% | 66% | 72% |
| Operating ratios | Sector median | 2025 | 2024 | 2023 | 2022 | 2021 |
Program expense ratio Program expense ratio = Program services / Total expenses | 83% | 67% | 68% | 67% | 63% | 67% |
Spending ratio Spending ratio = Total expenses / Total revenue | 93% | 85% | 82% | 92% | 75% | 67% |
Program output ratio Program output ratio = Program services / Total revenue | 77% | 56% | 56% | 62% | 47% | 45% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 7% | 15% | 18% | 8% | 25% | 33% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 7% | 8% | 9% | 4% | 14% | 20% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 14% | 30% | 29% | 29% | 32% | 27% |
| Investing ratios | Sector median | 2025 | 2024 | 2023 | 2022 | 2021 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.54 | 0.33 | 0.34 | 0.30 | 0.26 | 0.29 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 3.13 | 4.17 | 3.44 | 3.18 | 2.75 | 2.26 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.98 | 1.39 | 1.16 | 0.96 | 0.72 | 0.67 |
| Liquidity ratios | Sector median | 2025 | 2024 | 2023 | 2022 | 2021 |
Current ratio Current ratio = Total current assets / Total current liabilities | 2.80 | 1.24 | 1.55 | 1.67 | 2.19 | 2.12 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.35 | 0.81 | 0.64 | 0.60 | 0.46 | 0.47 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 3.53 | 1.66 | 3.68 | 5.04 | 9.11 | 9.52 |
| Solvency ratios | Sector median | 2025 | 2024 | 2023 | 2022 | 2021 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 30% | 20% | 21% | 31% | 35% | 27% |
Debt ratio Debt ratio = Debt / Total assets | 10% | 1% | 2% | 12% | 18% | 6% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 116% | 239% | 235% | 231% | 251% | 248% |
Financials
| Balance sheet | |||||
| Assets | 2025 | 2024 | 2023 | 2022 | 2021 |
| Cash | $4,979,808 | $6,431,936 | $6,282,797 | $7,334,769 | $7,025,283 |
| Receivables, inventories, prepaids | $1,737,364 | $1,149,972 | $2,227,841 | $2,726,605 | $2,448,642 |
| Short-term investments | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $6,717,172 | $7,581,908 | $8,510,638 | $10,061,374 | $9,473,925 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Fixed assets | $21,304,126 | $18,485,994 | $18,528,169 | $17,605,231 | $11,929,377 |
| Other long-term assets | $990 | $990 | $990 | $11,090 | $11,320 |
| Total long-term assets | $21,305,116 | $18,486,984 | $18,529,159 | $17,616,321 | $11,940,697 |
| Total assets | $28,022,288 | $26,068,892 | $27,039,797 | $27,677,695 | $21,414,622 |
| Liabilities | 2025 | 2024 | 2023 | 2022 | 2021 |
| Payables and accrued expenses | $668,176 | $146,835 | $547,957 | $696,039 | $1,115,587 |
| Other current liabilities | $4,755,555 | $4,741,593 | $4,544,917 | $3,899,372 | $3,357,171 |
| Total current liabilities | $5,423,731 | $4,888,428 | $5,092,874 | $4,595,411 | $4,472,758 |
| Debt | $190,537 | $485,604 | $3,166,965 | $4,990,942 | $1,297,152 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $0 | $0 | $0 | $0 | $0 |
| Total long-term liabilities | $190,537 | $485,604 | $3,166,965 | $4,990,942 | $1,297,152 |
| Total liabilities | $5,614,268 | $5,374,032 | $8,259,839 | $9,586,353 | $5,769,910 |
| Net assets | 2025 | 2024 | 2023 | 2022 | 2021 |
| Without donor restrictions | $21,504,072 | $18,982,500 | $14,809,522 | $12,196,901 | $7,778,486 |
| With donor restrictions | $903,948 | $1,712,360 | $3,970,436 | $5,894,441 | $7,866,226 |
| Net assets | $22,408,020 | $20,694,860 | $18,779,958 | $18,091,342 | $15,644,712 |
| Revenues and expenses | |||||
| Revenue | 2025 | 2024 | 2023 | 2022 | 2021 |
| Total contributions | $2,103,082 | $2,210,056 | $1,483,095 | $3,266,848 | $2,649,039 |
| Program service revenue | $7,983,437 | $7,463,297 | $6,467,802 | $5,727,798 | $5,055,753 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $126,002 | $152,454 | $59,092 | $3,342 | $349 |
| Other revenue | $857,692 | $929,228 | $813,297 | $650,230 | $1,747,729 |
| Total other revenue | $8,967,131 | $8,544,979 | $7,340,191 | $6,381,370 | $6,803,831 |
| Total revenue | $11,070,213 | $10,755,035 | $8,823,286 | $9,648,218 | $9,452,870 |
| Expenses | 2025 | 2024 | 2023 | 2022 | 2021 |
| Program services | $6,232,131 | $5,979,209 | $5,483,625 | $4,571,129 | $4,207,556 |
| Management and general | $2,790,599 | $2,518,281 | $2,364,367 | $2,296,693 | $1,671,753 |
| Fundraising | $334,323 | $292,777 | $286,678 | $335,011 | $427,807 |
| Total expenses | $9,357,053 | $8,790,267 | $8,134,670 | $7,202,833 | $6,307,116 |
| Change in net assets | 2025 | 2024 | 2023 | 2022 | 2021 |
| Surplus (deficit) | $1,713,160 | $1,964,768 | $688,616 | $2,445,385 | $3,145,754 |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $1,713,160 | $1,964,768 | $688,616 | $2,445,385 | $3,145,754 |
Compensation
| Name | Title | Compensation |
| Troy Schuknecht | Head of School | $224,457 |
| Andrew John Elizalde | Academic Dean | $146,674 |
| Jeremy Martin | Director of Athletics | $117,528 |
Compensation data as of: 7/31/2025
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 10/9/2026. To update the information below, please email: [email protected]
History
Covenant Classical School began in 1999 when a small group of Fort Worth recognized the need for a different kind of education. They desired to build a Christ-centered, academically rigorous school community that valued the biblical role of parents in the education of children. As the number of interested families grew, a distinctly Christian and classical vision for education emerged, and Covenant opened its doors that fall with just 14 students in a rented church building.