Civic Intelligence

Covenant College Foundation Inc.

990 • Fiscal year 2018 • EIN 27-3298736

Jul 01, 2017 to Jun 30, 2018 • Filed on May 14, 2019

Organization Profilecovenant.giftlegacy.com
14049 Scenic HighwayLookout Mountain, GA 30750

(706) 419-1645

Siviq Scores

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

Liabilities / Assets

5th percentile

0.00x

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

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

6th percentile

0.00x

Higher debt load relative to revenue than 6% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Net Margin

95th percentile

71%

Higher net margin than 95% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

76th percentile

$283,378

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 14.5% of source-year revenue.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Asset Growth

80th percentile

14%

Faster asset growth than 80% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

97th percentile

220%

Faster revenue growth than 97% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets5th percentile

Assets

Up

$12,023,624

Up $1,514,949 (+14%) from 2017

Net Assets

Up

$12,020,258

Up $1,515,774 (+14%) from 2017

Liabilities

Down

$3,366

Down $825 (-20%) from 2017

Revenue And Expenses
Liabilities / Revenue6th percentileNet Margin95th percentile

Revenue

Up

$1,947,843

Up $1,338,943 (+220%) from 2017

Expenses

Down

$568,029

Down $46,130 (-7.5%) from 2017

Net Income

Up

$1,379,814

Up $1,385,073 (+26337%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth80th 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

2018

Assets$12,023,624
Liabilities$3,366
Net Assets$12,020,258
Open 2018 Filing

Operations Trend

Revenue Growth97th percentile

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

2018

Revenue$1,947,843
Expenses$568,029
Net Income$1,379,814
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 14, 2019
Return Version
2017v2.3
Gross Receipts
$2,163,666
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$8,390,635$9,770,401▲ $1,379,766
Investments Other Securities$1,360,763$1,391,247▲ $30,484
Savings and Temporary Cash Investments$757,277$861,976▲ $104,699
Total Assets$10,508,675$12,023,624▲ $1,514,949
Liabilities
Accounts Payable and Accrued Expenses$4,191$3,366▼ $825
Total Liabilities$4,191$3,366▼ $825
Net Assets / Fund Balance
Permanently Rstr Net Assets$7,940,374$8,510,686▲ $570,312
Unrestricted Net Assets$2,564,110$3,509,572▲ $945,462
Total Net Assets Fund Balance$10,504,484$12,020,258▲ $1,515,774
Total Liabilities and Net Assets / Fund Balance$10,508,675$12,023,624▲ $1,514,949

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$250,000--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$9,751,398$1,001,113▲ $643,364$119,255$10,910,648
2016$8,704,892$334,127▲ $1,059,458$83,106$9,751,398
2015$9,395,360$145,730▼ $497,665$61,118$8,704,892
2014$9,578,155$231,997▼ $80,920$89,025$9,395,360
2013$8,164,604$326,600▲ $1,417,038-$9,578,155
Compensation and Service Providers
Top Officer Pay76th percentile

Employees

NameTitleOtherTotal
Daniel WykoffAssistant Treasurer (part year)$138,582$138,582

Board Members and Trustees

NameTitle
Craig WoodChairman
Marc EricksonPresident/Executive Director
Bob BeckTrustee
Bruce WilliamsTrustee
David LucasTrustee
Dr J Derek HalvorsonTrustee
J Allen WrightTrustee
James GrauleyTrustee
Mark GriggsTrustee
Martin MooreTrustee
Richard BowserTrustee
Sam R Smartt JrTrustee
Sarina SharpTrustee
William BurdetteTrustee
Frank BrockTrustee/Assist Treasurer
Gary HaluskaSecretary/Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,404,578
Program Service Revenue
$0
Investment Income
$507,403
Other Revenue
$35,862
All Other Contributions
$1,404,578
Change in Net Assets
$1,379,814

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Secur Prtnrshp Trust Intrsts1$251,000Fair Market Value (FMV)
Securities Publicly Traded1$5,304Fair Market Value (FMV)
Total Noncash Contributions2$256,304-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,916,096
Revenue Not Reported on Financial Statements
$31,747
Revenue Not Reported on Form 990
$135,960
Total Revenue per Audited Statements
$2,052,056
Total Revenue per Form 990
$1,947,843
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$433,888
Other Expenses$134,141
Total Fundraising Expense$82,691
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$433,888--$433,888
Fees for Service Investment Mgmnt Fees-$31,747-$31,747
All Other Expenses--$23,938$23,938
Travel--$18,660$18,660
Office Expenses--$16,989$16,989
Fees for Services Accounting-$12,232-$12,232
Insurance--$10,000$10,000
Fees for Services Other--$6,925$6,925
Other Expenses-$5,699-$5,699
Information Technology--$5,610$5,610
Fees for Services Legal-$1,772-$1,772
Conferences and Meetings--$569$569
Total Functional Expenses$433,888$51,450$82,691$568,029

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$568,029
Expenses per Audited Statements$536,282
Total Expenses per Audited Statements$536,282
Expenses Not Reported on Financial Statements$31,747
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Covenant CollegeLookout Mountain, GA501(c)(3)Supporting educational purposes$433,888
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
Yes
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 A, line 4

“Section 4.2 of the bylaws were amended to increase the number of directors to "no less than seven (7) nor more than fifteen (15) to be determined from time to time by the Board."”

Form 990, Part VI, Section B, line 11B

“Form 990 is prepared by an independent CPA firm and reviewed in detail by the organization's top management. The reviewed Form 990 is then provided to the board of directors prior to filing with the IRS.”

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. Should any potential conflicts of interest be disclosed, the board member or officer would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship.”

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

Filer Name
Covenant College Foundation Inc
EIN
27-3298736
Phone
7064191645
Address
14049 Scenic Highway, Lookout Mountain, GA 30750

Signing Officer

Name
Marc Erickson
Title
President
Phone
7064191645
Signed
2019-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Marc Erickson
Formed
2011
Legal Domicile
Ga
Voting Board Members
15
Independent Board Members
14
Employees
0
Volunteers
15

Preparer

Firm
Capin Crouse LLP
Address
1255 Lakes Parkway Suite 130, Lawrenceville, GA 30043
Preparer
David C Moja
Phone
6785185301
Supplemental Narrative

Additional Explanations

Part X, Lines 27-29

“The organization has elected to early adopt the principles of FASB ASU 2016-14 (ASC 958) for its audited financial statements for the period ended 6/30/2018. To date, Form 990 and its associated schedules have not been updated to reflect changes made by this standard. Thus, we have included the net asset categories in our audited financial statements on existing Form 990, Part X, Lines 27-29 as follows: Net assets without donor restrictions $3,509,575 Net assets with donor restrictions 8,510,686 Total net assets $12,020,258 Line 27 Unrestricted net assets $3,509,572 Line 28 Temporarily restricted net assets 0 Line 29 Permanently restricted net assets 8,510,686 Total net assets $12,020,258”

Form 990, Part XII, Line 2C:

“The organization'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 as well as offset certain operating costs. Form 990, Schedule D, Part V, column (b) has been updated to reflect the correct ending balance per the audited financial statements.”

Form 990, Schedule D, Part V, Lines 2A-2C:

“In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 6/30/2018. To date, Form 990 and its associated schedules have not been updated to reflect changes made by this standard. Thus, we have included the net asset categories in our audited financial statements on existing Form 990, Schedule D, Part V, Lines 2a-2c as follows: Line 2a - Without donor restrictions Line 2b - With donor restrictions”

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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt15121207
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt16138113
IRS990/Form990PartVIISectionAGrp/TitleTxt0Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt1Secretary/Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt2Trustee/Assist 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/Form990PartVIISectionAGrp/TitleTxt14Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt15Assistant Treasurer (part year)
IRS990/Form990PartVIISectionAGrp/TitleTxt16President/Executive Director
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/Form990TFiledInd01
IRS990/FormationYr02011
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolAndSepBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/SecuritiesAmt0237657
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt015
IRS990/GrantAmt0433888
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt0433888
IRS990/GrantsToDomesticOrgsGrp/TotalAmt0433888
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt0453480
IRS990/GrossReceiptsAmt02163666
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt014
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXInd0X
IRS990/InformationTechnologyGrp/FundraisingAmt05610
IRS990/InformationTechnologyGrp/TotalAmt05610
IRS990/InsuranceGrp/FundraisingAmt010000
IRS990/InsuranceGrp/TotalAmt010000
IRS990/InvestmentIncomeGrp/ExclusionAmt0185464
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0269746
IRS990/InvestmentIncomeGrp/UnrelatedBusinessRevenueAmt084282
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt01360763
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt01391247
IRS990/InvestmentsPubTradedSecGrp/BOYAmt08390635
IRS990/InvestmentsPubTradedSecGrp/EOYAmt09770401
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0GA
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt0215823
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MiscellaneousRevenueGrp/RelatedOrExemptFuncIncomeAmt035862
IRS990/MiscellaneousRevenueGrp/TotalRevenueColumnAmt035862
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 ensure 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/NetAssetsOrFundBalancesBOYAmt010504484
IRS990/NetAssetsOrFundBalancesEOYAmt012020258
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0237657
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0237657
IRS990/NetUnrelatedBusTxblIncmAmt071998
IRS990/NetUnrlzdGainsLossesInvstAmt0135960
IRS990/NoncashContributionsAmt0256304
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/FundraisingAmt016989
IRS990/OfficeExpensesGrp/TotalAmt016989
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0Taxes
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt05699
IRS990/OtherExpensesGrp/TotalAmt05699
IRS990/OtherRevenueTotalAmt035862
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt07940374
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt08510686
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0Marc Erickson
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0369103
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0501516
IRS990/PYInvestmentIncomeAmt0208923
IRS990/PYOtherExpensesAmt0112643
IRS990/PYOtherRevenueAmt030874
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-5259
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0614159
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0608900
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt01379814
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt035862
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0757277
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0861976
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0Seven of the Foundation's board members are voting members of the governing body of the supported organization. Another is an officer of the supported organization. And an officer of the Foundation is listed on Form 990, Part VII of the supported organization as an Officer, Director, Trustee, Key Employee or Highest Compensated Employee. The organization believes that the necessary relationship is established in order to show that it is supervised or controlled in connection with its supported organization.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Part IV, Section C, Line 1:
IRS990ScheduleA/IRSWrittenDeterminationInd0X
IRS990ScheduleA/MajorityDirTrstSupportedOrgInd00
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0430719506
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd02
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0433888
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0Covenant College Inc
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType2Ind0X
IRS990ScheduleA/SupportSumAmt0433888
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BoardDesignatedBalanceEOYPct00.28750
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt031747
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt09751398
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt01001113
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt010910648
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt0334225
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0643364
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt0119255
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt08704892
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0334127
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt09751398
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt0263973
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01059458
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt083106
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt09395360
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0145730
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt08704892
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt0277415
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-497665
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt061118
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt09578155
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt0231997
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt09395360
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt0244847
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-80920
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt089025
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt08164604
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt0326600
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt09578155
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt0330087
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01417038
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt031747
IRS990ScheduleD/ExpensesSubtotalAmt0536282
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt031747
IRS990ScheduleD/InvestmentExpensesNotIncldAmt031747
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0135960
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt0844247
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt1297000
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt2250000
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Limited partnerships
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Investment in bank
IRS990ScheduleD/OtherSecuritiesGrp/Desc2Investment in senior residence center
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd2C
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.71250
IRS990ScheduleD/RevenueNotReportedAmt0135960
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt031747
IRS990ScheduleD/RevenueSubtotalAmt01916096
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The endowment funds are invested to produce income which is used to fund scholarships for Covenant College as well as offset certain operating costs. Form 990, Schedule D, Part V, column (b) has been updated to reflect the correct ending balance per the audited financial statements.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 6/30/2018. To date, Form 990 and its associated schedules have not been updated to reflect changes made by this standard. Thus, we have included the net asset categories in our audited financial statements on existing Form 990, Schedule D, Part V, Lines 2a-2c as follows: Line 2a - Without donor restrictions Line 2b - With donor restrictions

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$12,023,624
Liabilities
$3,366
Net assets
$12,020,258
Revenue
$1,947,843
Expenses
$568,029
Net income
$1,379,814
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