Civic Intelligence

Covington Theological Seminary Inc.

990 • Fiscal year 2015 • EIN 58-1554537

Jan 01, 2015 to Dec 31, 2015 • Filed on May 09, 2016

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

48th percentile

0.04x

Higher debt load relative to assets than 48% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Liabilities / Revenue

61st percentile

0.09x

Higher debt load relative to revenue than 61% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Net Margin

37th percentile

-0.8%

Higher net margin than 37% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Top Officer Pay

64th percentile

$47,600

Higher top officer pay than 64% of similar nonprofits.

Top officer pay equals 16.5% of source-year revenue.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Asset Growth

56th percentile

3.1%

Faster asset growth than 56% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Revenue Growth

61st percentile

9.3%

Faster revenue growth than 61% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets48th percentile

Assets

Up

$680,872

Up $20,276 (+3.1%) from 2014

Net Assets

Up

$655,885

Up $28,394 (+4.5%) from 2014

Liabilities

Down

$24,987

Down $8,118 (-25%) from 2014

Revenue And Expenses
Liabilities / Revenue61st percentileNet Margin37th percentile

Revenue

Up

$287,806

Up $24,484 (+9.3%) from 2014

Expenses

Down

$290,119

Down $4,871 (-1.7%) from 2014

Net Income

Up

-$2,313

Up $29,355 (+93%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth56th 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 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

2015

Assets$680,872
Liabilities$24,987
Net Assets$655,885
Open 2015 Filing

Operations Trend

Revenue Growth61st 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 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

2015

Revenue$287,806
Expenses$290,119
Net Income-$2,313
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 9, 2016
Return Version
2015v2.1
Gross Receipts
$324,942
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$627,491$655,885▲ $28,394
Accounts Receivable$469,818$439,727▼ $30,091
Inventories for Sale or Use$130,569$104,569▼ $26,000
Intangible Assets-$52,395-
Cash and Non-Interest-Bearing Accounts$4,230$38,903▲ $34,673
Land, Buildings, and Equipment, Net$28,565$27,433▼ $1,132
Savings and Temporary Cash Investments$27,414$17,470▼ $9,944
Total Assets$660,596$680,872▲ $20,276
Other Assets Total-$375-
Liabilities
Accounts Payable and Accrued Expenses$33,105$24,987▼ $8,118
Total Liabilities$33,105$24,987▼ $8,118
Net Assets / Fund Balance
Total Net Assets Fund Balance$627,491$655,885▲ $28,394
Total Liabilities and Net Assets / Fund Balance$660,596$680,872▲ $20,276

Asset Categories

AssetBook ValueDepreciationBasis
Buildings-$384,822$384,822
Equipment$7,774$124,072$131,846
Land$15,000-$15,000
Leasehold Improvements$4,659$7,091$11,750
Compensation and Service Providers
Top Officer Pay64th percentile

Employees

NameTitleFull / Part TimeBaseTotal
James S Sullivan JrPresidentFT$47,600$47,600
Bret M SullivanVP of OperationsFT$35,671$35,671

Board Members and Trustees

NameTitle
Edsel BoneDirector
Jay TrimbleDirector
Gary FleetwoodAcademic VP
Marvin CornelisonCFO/secretary
Eddie IldifonsoExecutive VP
Revenue and Support

Revenue Composition

Contributions and Grants
$5,204
Program Service Revenue
$303,511
Investment Income
$11
Other Revenue
$-20,920
All Other Contributions
$5,204
Change in Net Assets
$-2,313
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$186,190
Other Expenses$103,929
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$67,271$31,000$0$98,271
Other Employee Benefits$40,660$18,000$0$58,660
Occupancy$18,646$18,645$0$37,291
Office Expenses$21,311$5,328$0$26,639
Other Salaries and Wages$17,777$0$0$17,777
Other Expenses$16,531$0$0$16,531
Payroll Taxes$6,619$2,373$0$8,992
Information Technology$2,885$2,885$0$5,770
Fees for Services Accounting$0$5,569$0$5,569
Travel$0$4,935$0$4,935
Depreciation Depletion$1,651$988$0$2,639
Pension Plan Contributions$1,637$853$0$2,490
Conferences and Meetings$35$0$0$35
Total Functional Expenses$199,482$90,637$0$290,119
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
2016-05-09
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
5
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 X

“Line 14 - 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 returned checks discounts”

Raw XML AppendixShowing 400 of 420 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.

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IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0303511
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0627491
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0655885
IRS990/SavingsAndTempCashInvstGrp/BOYAmt027414
IRS990/SavingsAndTempCashInvstGrp/EOYAmt017470
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportTotal170Amt00
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0384822
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0384822
IRS990ScheduleD/EquipmentGrp/BookValueAmt07774
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0124072
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0131846
IRS990ScheduleD/LandGrp/BookValueAmt015000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt015000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt04659
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt07091
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt011750
IRS990ScheduleD/TotalBookValueLandBuildingsAmt027433
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/MaintainRacialCompRecsInd0false
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/ExplanationTxt1THERE IS NO FORMAL RECORD KEEPING OF THE RACIAL COMPOSITION OF THE STUDENT BODY. IF NEEDED IT CAN BE COMPILED. SEE EXPLANATION AT ON SCHEDULE E.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Line 4d
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 14 - 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 RETURNED CHECKS DISCOUNTS
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 X
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/TotalAssetsBOYAmt0660596
IRS990/TotalAssetsEOYAmt0680872
IRS990/TotalAssetsGrp/BOYAmt0660596
IRS990/TotalAssetsGrp/EOYAmt0680872
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt05204
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt090637
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0199482
IRS990/TotalFunctionalExpensesGrp/TotalAmt0290119
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt033105
IRS990/TotalLiabilitiesEOYAmt024987
IRS990/TotalLiabilitiesGrp/BOYAmt033105
IRS990/TotalLiabilitiesGrp/EOYAmt024987
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0627491
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0655885
IRS990/TotalProgramServiceExpensesAmt0199482
IRS990/TotalProgramServiceRevenueAmt0303511
IRS990/TotalReportableCompFromOrgAmt083271
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0282602
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0287806
IRS990/TotalVolunteersCnt075
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0660596
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0680872
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt04935
IRS990/TravelGrp/ProgramServicesAmt00
IRS990/TravelGrp/TotalAmt04935
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/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JAMES S SULLIVAN JR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07068665626
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-05-09

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$680,872
Liabilities
$24,987
Net assets
$655,885
Revenue
$287,806
Expenses
$290,119
Net income
-$2,313
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
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