Civic Intelligence

Covenant College Foundation Inc.

990 • Fiscal year 2014 • EIN 27-3298736

Jul 01, 2013 to Jun 30, 2014 • Filed on May 13, 2015

Organization Profilewww.covenant.giftlegacy.com
14049 Scenic Highway30750

(706) 419-1645

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

4th percentile

0.00x

Higher debt load relative to assets than 4% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Liabilities / Revenue

5th percentile

0.00x

Higher debt load relative to revenue than 5% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Net Margin

88th percentile

40%

Higher net margin than 88% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Top Officer Pay

78th percentile

$284,919

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 33.6% of source-year revenue.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Asset Growth

82nd percentile

16%

Faster asset growth than 82% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Balance Sheet
Liabilities / Assets4th percentile

Assets

Up

$10,236,383

Up $1,406,588 (+16%) from 2013

Net Assets

Up

$10,236,135

Up $1,450,570 (+17%) from 2013

Liabilities

Down

$248

Down $43,982 (-99%) from 2013

Revenue And Expenses
Liabilities / Revenue5th percentileNet Margin88th percentile

Revenue

$849,098

No earlier filing loaded for comparison.

Expenses

Down

$507,412

Down $96,119 (-16%) from 2013

Net Income

$341,686

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth82nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2012: $7,840,470Liabilities 2012: $891Net Assets 2012: $7,839,5792012Assets 2013: $8,829,795Liabilities 2013: $44,230Net Assets 2013: $8,785,5652013Assets 2014: $10,236,383Liabilities 2014: $248Net Assets 2014: $10,236,1352014Assets 2015: $10,210,447Liabilities 2015: $4,930Net Assets 2015: $10,205,5172015Assets 2016: $9,653,042Liabilities 2016: $11,367Net Assets 2016: $9,641,6752016Assets 2017: $10,508,675Liabilities 2017: $4,191Net Assets 2017: $10,504,4842017Assets 2018: $12,023,624Liabilities 2018: $3,366Net Assets 2018: $12,020,2582018Assets 2019: $14,216,211Liabilities 2019: $286Net Assets 2019: $14,215,9252019Assets 2020: $14,784,960Liabilities 2020: $205Net Assets 2020: $14,784,7552020Assets 2021: $20,093,926Liabilities 2021: $1,966Net Assets 2021: $20,091,9602021Assets 2022: $18,187,987Liabilities 2022: $17,344Net Assets 2022: $18,170,6432022Assets 2023: $20,239,671Liabilities 2023: $49Net Assets 2023: $20,239,6222023Assets 2024: $24,574,789Liabilities 2024: $145,700Net Assets 2024: $24,429,0892024

Highlighted filing

2014

Assets$10,236,383
Liabilities$248
Net Assets$10,236,135
Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2012: $717,6182012Expenses 2013: $603,5312013Revenue 2014: $849,098Expenses 2014: $507,412Net Income 2014: $341,6862014Revenue 2015: $1,004,263Expenses 2015: $492,247Net Income 2015: $512,0162015Revenue 2016: $592,819Expenses 2016: $507,977Net Income 2016: $84,8422016Revenue 2017: $608,900Expenses 2017: $614,159Net Income 2017: -$5,2592017Revenue 2018: $1,947,843Expenses 2018: $568,029Net Income 2018: $1,379,8142018Revenue 2019: $2,880,806Expenses 2019: $686,108Net Income 2019: $2,194,6982019Revenue 2020: $2,059,711Expenses 2020: $1,040,220Net Income 2020: $1,019,4912020Revenue 2021: $3,608,993Expenses 2021: $936,238Net Income 2021: $2,672,7552021Revenue 2022: $2,624,692Expenses 2022: $1,003,553Net Income 2022: $1,621,1392022Revenue 2023: $1,928,825Expenses 2023: $980,505Net Income 2023: $948,3202023Revenue 2024: $3,659,030Expenses 2024: $1,349,371Net Income 2024: $2,309,6592024

Highlighted filing

2014

Revenue$849,098
Expenses$507,412
Net Income$341,686
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
May 13, 2015
Return Version
2013v4.0
Gross Receipts
$1,179,186
Mission and Program Overview

Mission

The Covenant College Foundation is the planned-giving arm of Covenant College. The primary purpose is to grow the College's endowment, which helps ensure the future of the College and the pursuit of its mission to explore and express the preeminence of Jesus Christ in all things.

Covenant College Foundation (Foundation) provides funds to support Covenant College.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$6,374,419$7,349,407▲ $974,988
Investments Other Securities$1,790,185$1,770,490▼ $19,695
Cash and Non-Interest-Bearing Accounts$663,858$657,567▼ $6,291
Savings and Temporary Cash Investments-$458,258-
Prepaid Expenses and Deferred Charges$1,333$661▼ $672
Total Assets$8,829,795$10,236,383▲ $1,406,588
Liabilities
Accounts Payable and Accrued Expenses$44,230$248▼ $43,982
Total Liabilities$44,230$248▼ $43,982
Net Assets / Fund Balance
Permanently Rstr Net Assets$5,871,702$5,897,702▲ $26,000
Unrestricted Net Assets$1,872,865$2,385,993▲ $513,128
Temporarily Rstr Net Assets$1,040,998$1,952,440▲ $911,442
Total Net Assets Fund Balance$8,785,565$10,236,135▲ $1,450,570
Total Liabilities and Net Assets / Fund Balance$8,829,795$10,236,383▲ $1,406,588

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$297,000--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$8,164,604$326,600▲ $1,417,038-$9,578,155
2012$7,269,583$158,921▲ $1,047,517-$8,164,604
2011$7,483,602$427,657▼ $165,608-$7,269,583
2010$6,917,314$214,000▲ $551,210-$7,483,602
Compensation and Service Providers
Top Officer Pay78th percentile

Employees

NameTitleBaseOtherTotal
Derek HalvorsonTrustee$244,587$45,721$290,308

Board Members and Trustees

NameTitle
Joel BelzChairman
Marc EricksonPresident
Bruce WilliamsTrustee
David LucasTrustee
Frank A BrockTrustee
Gary HaluskaTrustee
J Allen WrightTrustee
James JollyTrustee
Mark GriggsTrustee
Marty MooreTrustee
Sam R Smartt JrTrustee
William BurdetteTrustee
Craig WoodSecretary/Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$490,326
Program Service Revenue
$0
Investment Income
$358,772
Other Revenue
$0
All Other Contributions
$490,326
Change in Net Assets
$341,686

Audited Revenue Reconciliation

Revenue per Audited Statements
$842,139
Revenue Not Reported on Financial Statements
$6,959
Revenue Not Reported on Form 990
$1,108,884
Total Revenue per Audited Statements
$1,951,023
Total Revenue per Form 990
$849,098
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$418,586
Other Expenses$88,826
Total Fundraising Expense$76,293
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$418,586--$418,586
Fees for Services Other--$46,487$46,487
Travel--$16,335$16,335
Office Expenses-$2,824$9,413$12,237
Fees for Service Investment Mgmnt Fees-$6,959-$6,959
Advertising--$4,428$4,428
Fees for Services Accounting-$2,750-$2,750
Conferences and Meetings--$2,466$2,466
Other Expenses--$-6,702$-6,702
Total Functional Expenses$418,586$12,533$76,293$507,412

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$507,412
Expenses per Audited Statements$500,453
Total Expenses per Audited Statements$500,453
Expenses Not Reported on Financial Statements$6,959
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
43-0719506-501 (c) 3Supporting educational purposes$418,586
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11

“The Form 990 is prepared by an independent CPA firm. The Foundation provides its Form 990 to the Board of Trustees to review before filing with the IRS. Additionally, the Audit Committee meets at least annually to review and approve the Form 990.”

Form 990, Part VI, Section B, line 12C

“The officers, directors, and committee members with Board delegated powers are required to sign a conflict of interest disclosure form annually. The President is responsible for insuring compliance and that conflicts are monitored, reported, and approved. It is up to the Board to decide whether a member can vote on a particular matter that would be affected by a conflict.”

Form 990, Part VI, Section B, line 15

“The organization does not compensate any officers. Therefore, these questions were answered no in accordance with the instructions.”

Form 990, Part VI, Section C, line 19

“The organization's governing documents, conflict of interest policy, and financial statements are made available upon request by inquiry to the President's office.”

Filing and Contact Details

Filer

EIN
27-3298736
Phone
7064191645

Signing Officer

Name
Dan Wykoff
Title
VP for Finance & Operations
Phone
7064191645
Signed
2015-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Marc Erickson
Formed
2011
Legal Domicile
Ga
Voting Board Members
14
Independent Board Members
13
Employees
0
Volunteers
13

Preparer

Preparer
David C Moja
Phone
6785185301
Supplemental Narrative

Additional Explanations

Form 990, Part XII, line 2C

“The Foundation's Board assumes responsibility for oversight of the audit of its financial statements and selection of its independent accountant. This process has not changed since the prior year.”

Financial Statement Notes

Part V, Line 4:

“The endowment funds are invested to produce income which is used to fund scholarships for Covenant College.”

Part X, Line 2:

“The financial statement effects of a tax position taken or expected to be taken are recognized in the financial statements when it is more likely than not, based on the technical merits, that the position will be sustained upon examination. Interest and penalties, if any, are included in expenses in the statements of activities. As of June 30, 2014 and 2013, the Foundation has analyzed its tax positions and believes that all are more likely than not to be sustained upon examination. The Foundation was the recipient of a donation of stock in a subchapter S corporation, which resulted in the Foundation becoming a shareholder in the corporation. Therefore, the Foundation will receive earnings from the corporation and will be obligated to pay federal income taxes on these earnings in the form of unrelated business income tax (UBIT). The Foundation files information tax returns in the U.S. and various states. The Foundation is generally no longer subject to U.S. federal and state income tax examinations by tax authorities for years before 2010.”

Raw XML AppendixShowing 400 of 543 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt044230
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt0248
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0Covenant College Foundation (Foundation) provides funds to support Covenant College.
IRS990/AdvertisingGrp/FundraisingAmt04428
IRS990/AdvertisingGrp/TotalAmt04428
IRS990/AllOtherContributionsAmt0490326
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine10Robert Harbert
IRS990/BooksInCareOfDetail/PhoneNum07064191116
IRS990/BooksInCareOfDetail/USAddress/AddressLine1014049 Scenic Highway
IRS990/BooksInCareOfDetail/USAddress/City0Lookout Mountain
IRS990/BooksInCareOfDetail/USAddress/State0GA
IRS990/BooksInCareOfDetail/USAddress/ZIPCode030750
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOfficerEntInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CashNonInterestBearingGrp/BOYAmt0663858
IRS990/CashNonInterestBearingGrp/EOYAmt0657567
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd00
IRS990/CompensationProcessOtherInd00
IRS990/ConferencesMeetingsGrp/FundraisingAmt02466
IRS990/ConferencesMeetingsGrp/TotalAmt02466
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd01
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt0490326
IRS990/CYGrantsAndSimilarPaidAmt0418586
IRS990/CYInvestmentIncomeAmt0358772
IRS990/CYOtherExpensesAmt088826
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt00
IRS990/CYRevenuesLessExpensesAmt0341686
IRS990/CYSalariesCompEmpBnftPaidAmt00
IRS990/CYTotalExpensesAmt0507412
IRS990/CYTotalFundraisingExpenseAmt076293
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt0849098
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/Desc0Grants made to Covenant College in support of its mission of equipping generations of students with a first-rate, Christ-centered education.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd01
IRS990/DonorAdvisedFundInd00
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt00
IRS990/EngagedInExcessBenefitTransInd00
IRS990/ExcessBusinessHoldingsInd00
IRS990/ExpenseAmt0418586
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt02750
IRS990/FeesForServicesAccountingGrp/TotalAmt02750
IRS990/FeesForServicesOtherGrp/FundraisingAmt046487
IRS990/FeesForServicesOtherGrp/TotalAmt046487
IRS990/FeesForSrvcInvstMgmntFeesGrp/ManagementAndGeneralAmt06959
IRS990/FeesForSrvcInvstMgmntFeesGrp/TotalAmt06959
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt01.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt10.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt21.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt31.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt41.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt540.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt61.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt71.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt01.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt140.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt21.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt31.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt41.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt51.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt61.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt71.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt81.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt91.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt101.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt111.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt121.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt131.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd8X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd9X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd10X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd11X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd12X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd13X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt139198
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt628260
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt110
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt120
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt130
IRS990/Form990PartVIISectionAGrp/PersonNm0Joel Belz
IRS990/Form990PartVIISectionAGrp/PersonNm1Marc Erickson
IRS990/Form990PartVIISectionAGrp/PersonNm2Craig Wood
IRS990/Form990PartVIISectionAGrp/PersonNm3Frank A Brock
IRS990/Form990PartVIISectionAGrp/PersonNm4William Burdette
IRS990/Form990PartVIISectionAGrp/PersonNm5Mark Griggs
IRS990/Form990PartVIISectionAGrp/PersonNm6Derek Halvorson
IRS990/Form990PartVIISectionAGrp/PersonNm7Gary Haluska
IRS990/Form990PartVIISectionAGrp/PersonNm8James Jolly
IRS990/Form990PartVIISectionAGrp/PersonNm9David Lucas
IRS990/Form990PartVIISectionAGrp/PersonNm10Marty Moore
IRS990/Form990PartVIISectionAGrp/PersonNm11Sam R Smartt Jr
IRS990/Form990PartVIISectionAGrp/PersonNm12Bruce Williams
IRS990/Form990PartVIISectionAGrp/PersonNm13J Allen Wright
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt6256659
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt1121252
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/TitleTxt0Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt1President
IRS990/Form990PartVIISectionAGrp/TitleTxt2Secretary/Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt3Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt4Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt5Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt6Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt7Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt8Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt9Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt10Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt11Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt12Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt13Trustee
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/Form990TFiledInd01
IRS990/FormationYr02011
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolAndSepBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/SecuritiesAmt00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt014
IRS990/GrantAmt0418586
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt0418586
IRS990/GrantsToDomesticOrgsGrp/TotalAmt0418586
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt0330088
IRS990/GrossReceiptsAmt01179186
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt013
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InvestmentIncomeGrp/ExclusionAmt0296160
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0358772
IRS990/InvestmentIncomeGrp/UnrelatedBusinessRevenueAmt062612
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt01790185
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt01770490
IRS990/InvestmentsPubTradedSecGrp/BOYAmt06374419
IRS990/InvestmentsPubTradedSecGrp/EOYAmt07349407
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0GA
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt0330088
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0The Covenant College Foundation is the planned-giving arm of Covenant College. The primary purpose is to grow the College's endowment, which helps insure the future of the College and the pursuit of its mission to explore and express the preeminence of Jesus Christ in all things.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt08785565
IRS990/NetAssetsOrFundBalancesEOYAmt010236135
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetUnrelatedBusTxblIncmAmt047483
IRS990/NetUnrlzdGainsLossesInvstAmt01108884
IRS990/NoncashContributionsAmt09396
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/FundraisingAmt09413
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt02824
IRS990/OfficeExpensesGrp/TotalAmt012237
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0Memberships
IRS990/OtherExpensesGrp/Desc1Taxes & licenses
IRS990/OtherExpensesGrp/FundraisingAmt03866
IRS990/OtherExpensesGrp/FundraisingAmt1-6702
IRS990/OtherExpensesGrp/TotalAmt03866
IRS990/OtherExpensesGrp/TotalAmt1-6702
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt05871702
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt05897702
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01333
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0661
IRS990/PrincipalOfficerNm0Marc Erickson
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0422376
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0510537
IRS990/PYInvestmentIncomeAmt0385912
IRS990/PYOtherExpensesAmt092994
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0204757
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0603531
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0808288
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0341686
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0458258
IRS990ScheduleA/CertificationInd0X
IRS990ScheduleA/Contribution35ControlledInd00
IRS990ScheduleA/ContributionControllerInd00
IRS990ScheduleA/ContributionFamilyInd00
IRS990ScheduleA/IRSWrittenDeterminationInd0X
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0430719506
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeDesc02
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0418586
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine10Covenant College Inc
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrgNotifiedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/USOrganizedInd01
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType2Ind0X
IRS990ScheduleA/SupportSumAmt0418586
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BoardDesignatedBalanceEOYPct00.22270
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt08164604
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt0326600
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt09578155
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt0330087
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt01417038
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt07269583
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0158921
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt08164604
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt0311417
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01047517
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt07483602
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0427657
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt07269583
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt0476068
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-165608
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt06917314
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt0214000
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt07483602
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt0198922
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0551210
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt06959
IRS990ScheduleD/ExpensesSubtotalAmt0500453
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt06959
IRS990ScheduleD/InvestmentExpensesNotIncldAmt06959
IRS990ScheduleD/NetUnrealizedGainsInvstAmt01108884
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt01473490
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt1297000
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Limited Partnerships
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Investment in Bank
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1C
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.61580
IRS990ScheduleD/RevenueNotReportedAmt01108884
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt06959
IRS990ScheduleD/RevenueSubtotalAmt0842139
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The endowment funds are invested to produce income which is used to fund scholarships for Covenant College.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1The financial statement effects of a tax position taken or expected to be taken are recognized in the financial statements when it is more likely than not, based on the technical merits, that the position will be sustained upon examination. Interest and penalties, if any, are included in expenses in the statements of activities. As of June 30, 2014 and 2013, the Foundation has analyzed its tax positions and believes that all are more likely than not to be sustained upon examination. The Foundation was the recipient of a donation of stock in a subchapter S corporation, which resulted in the Foundation becoming a shareholder in the corporation. Therefore, the Foundation will receive earnings from the corporation and will be obligated to pay federal income taxes on these earnings in the form of unrelated business income tax (UBIT). The Foundation files information tax returns in the U.S. and various states. The Foundation is generally no longer subject to U.S. federal and state income tax examinations by tax authorities for years before 2010.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part V, Line 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part X, Line 2:
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.16150
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueSecuritiesAmt01770490
IRS990ScheduleD/TotalExpensesPerForm990Amt0507412
IRS990ScheduleD/TotalRevenuePerForm990Amt0849098
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01951023
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0500453
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt0418586
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501 (c) 3
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Supporting educational purposes
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine10Covenant College
IRS990ScheduleI/RecipientTable/RecipientEIN0430719506
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1014049 Scenic Highway
IRS990ScheduleI/RecipientTable/USAddress/City0Lookout Mountain
IRS990ScheduleI/RecipientTable/USAddress/State0GA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCode030750
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0The Foundation provides cash grants to Covenant College to supplement student scholarships. The selection and monitoring of eligibility is performed by Covenant College. There are six board members of the Foundation who are also board members of Covenant College.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 2:
IRS990ScheduleI/Total501c3OrgCnt01
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1244587
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0118796
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt111550
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt06242
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt10

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,236,383
Liabilities
$248
Net assets
$10,236,135
Revenue
$849,098
Expenses
$507,412
Net income
$341,686
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$24.6$0.15$24.4$3.66$1.35$2.31
2023Detailed filing. Detailed filing data is available for this year.$20.2$0.00$20.2$1.93$0.98$0.95
2022Detailed filing. Detailed filing data is available for this year.$18.2$0.02$18.2$2.62$1.00$1.62
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.1$0.00$20.1$3.61$0.94$2.67
2020Detailed filing. Detailed filing data is available for this year.$14.8$0.00$14.8$2.06$1.04$1.02
2019Detailed filing. Detailed filing data is available for this year.$14.2$0.00$14.2$2.88$0.69$2.19
2018Detailed filing. Detailed filing data is available for this year.$12.0$0.00$12.0$1.95$0.57$1.38
2017Detailed filing. Detailed filing data is available for this year.$10.5$0.00$10.5$0.61$0.61$0.01
2016Detailed filing. Detailed filing data is available for this year.$9.65$0.01$9.64$0.59$0.51$0.08
2015Detailed filing. Detailed filing data is available for this year.$10.2$0.00$10.2$1.00$0.49$0.51
2014Detailed filing. Detailed filing data is available for this year.$10.2$0.00$10.2$0.85$0.51$0.34
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.83$0.04$8.79$0.60
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.84$0.00$7.84$0.72