Civic Intelligence

Covington Theological Seminary Inc.

990 • Fiscal year 2014 • EIN 58-1554537

Jan 01, 2014 to Dec 31, 2014 • Filed on Mar 29, 2015

Organization Profilewww.covingtonseminary.org
P O Box 176Rossville, GA 30741

(706) 866-5626

Siviq Scores

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

Liabilities / Assets

51st percentile

0.05x

Higher debt load relative to assets than 51% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Liabilities / Revenue

66th percentile

0.13x

Higher debt load relative to revenue than 66% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Net Margin

18th percentile

-12%

Higher net margin than 18% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Top Officer Pay

70th percentile

$56,833

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 21.6% of source-year revenue.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Asset Growth

67th percentile

9.9%

Faster asset growth than 67% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Revenue Growth

12th percentile

-25%

Faster revenue growth than 12% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets51st percentile

Assets

Flat

$660,596

Flat from 2014

Net Assets

Flat

$627,491

Flat from 2014

Liabilities

Flat

$33,105

Flat from 2014

Revenue And Expenses
Liabilities / Revenue66th percentileNet Margin18th percentile

Revenue

Flat

$263,322

Flat from 2014

Expenses

Flat

$294,990

Flat from 2014

Net Income

Flat

-$31,668

Flat from 2014

Historical Trend

Balance Sheet Trend

Asset Growth67th percentile

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

$800K$600K$400K$200K$0Assets 2011: $549,886Liabilities 2011: $27,759Net Assets 2011: $522,1272011Assets 2012: $563,193Liabilities 2012: $23,815Net Assets 2012: $539,3782012Assets 2013: $601,350Liabilities 2013: $21,112Net Assets 2013: $580,2382013Assets 2014: $660,596Liabilities 2014: $33,105Net Assets 2014: $627,4912014Assets 2014: $660,596Liabilities 2014: $33,105Net Assets 2014: $627,4912014Assets 2015: $680,872Liabilities 2015: $24,987Net Assets 2015: $655,8852015Assets 2016: $177,394Liabilities 2016: $18,869Net Assets 2016: $158,5252016Assets 2017: $150,485Liabilities 2017: $16,449Net Assets 2017: $134,0362017Assets 2018: $127,961Liabilities 2018: $15,998Net Assets 2018: $111,9632018Assets 2019: $122,125Liabilities 2019: $16,356Net Assets 2019: $105,7692019Assets 2020: $164,921Liabilities 2020: $59,2362020Assets 2021: $160,198Liabilities 2021: $47,912Net Assets 2021: $112,2862021

Highlighted filing

2014

Assets$660,596
Liabilities$33,105
Net Assets$627,491
Open 2014 Filing

Operations Trend

Revenue Growth12th percentile

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

$600K$400K$200K$0-$200KRevenue 2011: $433,106Expenses 2011: $409,160Net Income 2011: $23,9462011Expenses 2012: $380,7882012Revenue 2013: $350,103Expenses 2013: $321,488Net Income 2013: $28,6152013Revenue 2014: $263,322Expenses 2014: $294,990Net Income 2014: -$31,6682014Revenue 2014: $263,322Expenses 2014: $294,990Net Income 2014: -$31,6682014Revenue 2015: $287,806Expenses 2015: $290,119Net Income 2015: -$2,3132015Revenue 2016: $227,107Expenses 2016: $272,210Net Income 2016: -$45,1032016Revenue 2017: $163,990Expenses 2017: $178,642Net Income 2017: -$14,6522017Revenue 2018: $160,096Expenses 2018: $184,844Net Income 2018: -$24,7482018Revenue 2019: $148,720Expenses 2019: $165,911Net Income 2019: -$17,1912019Revenue 2020: $155,696Expenses 2020: $155,780Net Income 2020: -$842020Revenue 2021: $131,082Expenses 2021: $141,929Net Income 2021: -$10,8472021

Highlighted filing

2014

Revenue$263,322
Expenses$294,990
Net Income-$31,668
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Mar 29, 2015
Return Version
2014v5.0
Gross Receipts
$274,423
Mission and Program Overview

Mission

The organization provides post

The organization provides post secondary education in bible, theology and religion

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$580,238$627,491▲ $47,253
Accounts Receivable$401,099$469,818▲ $68,719
Inventories for Sale or Use$130,569$130,569→ $0
Land, Buildings, and Equipment, Net$29,801$28,565▼ $1,236
Savings and Temporary Cash Investments$26,574$27,414▲ $840
Cash and Non-Interest-Bearing Accounts$12,932$4,230▼ $8,702
Prepaid Expenses and Deferred Charges$375--
Total Assets$601,350$660,596▲ $59,246
Liabilities
Accounts Payable and Accrued Expenses$21,112$33,105▲ $11,993
Total Liabilities$21,112$33,105▲ $11,993
Net Assets / Fund Balance
Total Net Assets Fund Balance$580,238$627,491▲ $47,253
Total Liabilities and Net Assets / Fund Balance$601,350$660,596▲ $59,246

Asset Categories

AssetBook ValueDepreciationBasis
Buildings-$386,172$386,172
Equipment$8,285$83,194$91,479
Other Land Buildings-$37,094$37,094
Land$15,000-$15,000
Leasehold Improvements$5,280$6,470$11,750
Compensation and Service Providers
Top Officer Pay70th percentile

Employees

NameTitleFull / Part TimeBaseTotal
James S Sullivan JrPresidentFT$56,833$56,833
Bret M SullivanVP of OperationsFT$36,000$36,000
Randy NiswongerRegistrarFT$27,132$27,132

Board Members and Trustees

NameTitle
Edsel BoneAcademic VP
Marvin CornelisonCFO
Jay TrimbleExec VP
Marvin CornelisonSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$13,637
Program Service Revenue
$243,501
Investment Income
$14
Other Revenue
$6,170
All Other Contributions
$13,637
Change in Net Assets
$-31,668
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$205,253
Other Expenses$89,737
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$64,918$7,214$0$72,132
Other Employee Benefits$63,550$0$0$63,550
Current Officers, Directors, Trustees, and Key Employees$35,236$21,597$0$56,833
Occupancy$10,244$10,243$0$20,487
Office Expenses$16,403$3,289$0$19,692
Other Expenses$14,596$0$0$14,596
Payroll Taxes$7,729$2,224$0$9,953
Travel$4,475$4,768$0$9,243
Fees for Services Management$0$5,116$0$5,116
Information Technology$2,277$2,276$0$4,553
All Other Expenses$3,516$0$0$3,516
Pension Plan Contributions$2,029$756$0$2,785
Depreciation Depletion$1,386$1,165$0$2,551
Payment Travel Entrtnmnt Publicly Ofcl$0$806$0$806
Total Functional Expenses$235,466$59,524$0$294,990
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
Backup withholding compliance
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
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Covington Theological Seminary Inc
EIN
58-1554537
Phone
7068665626
Address
P O BOX 176, ROSSVILLE, GA 30741

Signing Officer

Name
James S Sullivan Jr
Title
President
Phone
7068665626
Signed
2015-03-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James S Sullivan Jr
Formed
1977
Legal Domicile
Ga
Voting Board Members
5
Independent Board Members
4
Employees
4
Volunteers
75

Preparer

Firm
Charis Business Resources Inc
Address
3992 ROUND POND RD, LA FAYETTE, GA 30728-4711
Preparer
Cheryl B Clark
Phone
4233047608
Supplemental Narrative

Additional Explanations

Pt VI, Line 2

“The president, dr. James s. Sullivan, jr., is the father of the vp of operation, dr. Bret sullivan”

Pt VI, Line 11B

“Form 990 is prepared by cheryl b. Clark, cpa who is acting”

Pt VI, Line 11B

“As comptroller. It is reviewed by the president and copies are given to the governing body.”

Pt VI, Line 12C

“The president keeps on close touch with the governing body and each is keenly aware of policy. Any conflict would generate immediate action.”

Pt VI, Line 19

“The policies and financial statements are not published but are made available to anyone upon request.”

Pt XI

“Line 9 - this is the difference in the accrual accounting for book purposes and cash accounting for reporting purposes. The balance sheet is presented on the accrual method.”

Form 990, Part IX, Line 24F

“Gifts 88. 88. 0. 0. Returned checks 96. 96. 0. 0. Discounts 3332. 3332. 0. 0.”

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

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IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-31668
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0249685
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0580238
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0627491
IRS990/SavingsAndTempCashInvstGrp/BOYAmt026574
IRS990/SavingsAndTempCashInvstGrp/EOYAmt027414
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportTotal170Amt00
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0386172
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0386172
IRS990ScheduleD/EquipmentGrp/BookValueAmt08285
IRS990ScheduleD/EquipmentGrp/DepreciationAmt083194
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt091479
IRS990ScheduleD/LandGrp/BookValueAmt015000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt015000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt05280
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt06470
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt011750
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt037094
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt037094
IRS990ScheduleD/TotalBookValueLandBuildingsAmt028565
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0ALL CATALOGS CONTAIN THE NON-DISCRIMINATORY POLICY AND IT IS INCLUDED ON THE WEB-SITE. THERE IS NO FORMAL SOLICITATION OF STUDENTS. THERE IS NO FORMAL SOLICITATION OF STUDENTS. THE WEBSITE AND THE CATALOG CONTAIN THE NON-DISCRIMINATION POLICY.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Line 3
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PRESIDENT, DR. JAMES S. SULLIVAN, JR., IS THE FATHER OF THE VP OF OPERATION, DR. BRET SULLIVAN
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS PREPARED BY CHERYL B. CLARK, CPA WHO IS ACTING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AS COMPTROLLER. IT IS REVIEWED BY THE PRESIDENT AND COPIES ARE GIVEN TO THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PRESIDENT KEEPS ON CLOSE TOUCH WITH THE GOVERNING BODY AND EACH IS KEENLY AWARE OF POLICY. ANY CONFLICT WOULD GENERATE IMMEDIATE ACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE POLICIES AND FINANCIAL STATEMENTS ARE NOT PUBLISHED BUT ARE MADE AVAILABLE TO ANYONE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5LINE 9 - THIS IS THE DIFFERENCE IN THE ACCRUAL ACCOUNTING FOR BOOK PURPOSES AND CASH ACCOUNTING FOR REPORTING PURPOSES. THE BALANCE SHEET IS PRESENTED ON THE ACCRUAL METHOD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6GIFTS 88. 88. 0. 0. RETURNED CHECKS 96. 96. 0. 0. DISCOUNTS 3332. 3332. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Pt XI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part IX, Line 24f
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0601350
IRS990/TotalAssetsEOYAmt0660596
IRS990/TotalAssetsGrp/BOYAmt0601350
IRS990/TotalAssetsGrp/EOYAmt0660596
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt013637
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt059524
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0235466
IRS990/TotalFunctionalExpensesGrp/TotalAmt0294990
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt021112
IRS990/TotalLiabilitiesEOYAmt033105
IRS990/TotalLiabilitiesGrp/BOYAmt021112
IRS990/TotalLiabilitiesGrp/EOYAmt033105
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0580238
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0627491
IRS990/TotalProgramServiceExpensesAmt0235466
IRS990/TotalProgramServiceRevenueAmt0243501
IRS990/TotalReportableCompFromOrgAmt0119965
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0249685
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0263322
IRS990/TotalVolunteersCnt075
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0601350
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0660596
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt04768
IRS990/TravelGrp/ProgramServicesAmt04475
IRS990/TravelGrp/TotalAmt09243
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01168 CROSS ST
IRS990/USAddress/CityNm0FT OGLETHORPE
IRS990/USAddress/StateAbbreviationCd0GA
IRS990/USAddress/ZIPCd030742
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0www.covingtonseminary.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JAMES S SULLIVAN JR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT

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
$660,596
Liabilities
$33,105
Net assets
$627,491
Revenue
$263,322
Expenses
$294,990
Net income
-$31,668
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021Detailed filing. Detailed filing data is available for this year.$1.60$0.48$1.12$1.31$1.42$0.11
2020Summary only. Only limited summary data is available for this year.$1.65$0.59$1.56$1.56$0.00
2019Detailed filing. Detailed filing data is available for this year.$1.22$0.16$1.06$1.49$1.66$0.17
2018Detailed filing. Detailed filing data is available for this year.$1.28$0.16$1.12$1.60$1.85$0.25
2017Summary only. Only limited summary data is available for this year.$1.50$0.16$1.34$1.64$1.79$0.15
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.77$0.19$1.59$2.27$2.72$0.45
2015Detailed filing. Detailed filing data is available for this year.$6.81$0.25$6.56$2.88$2.90$0.02
2014Detailed filing. Detailed filing data is available for this year.$6.61$0.33$6.27$2.63$2.95$0.32
2014Summary only. Only limited summary data is available for this year.$6.61$0.33$6.27$2.63$2.95$0.32
2013Summary only. Only limited summary data is available for this year.$6.01$0.21$5.80$3.50$3.21$0.29
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.63$0.24$5.39$3.81
2011Summary only. Only limited summary data is available for this year.$5.50$0.28$5.22$4.33$4.09$0.24