Chalmers Center For Economic Development At Covenant College
- Assets
- $287.3k
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 25
- Location
- Lookout Mountain, GA
- Founding
- 08/2010
- Data as of
- 06/2023
- EIN
- 27-2341083
Organization Overview
Chalmers Center For Economic Development At Covenant College is located in Lookout Mountain, GA. The organization was established in 2010. According to its NTEE Classification (Q32) the organization is classified as: International Economic Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 06/2023, Chalmers Center For Economic Development At Covenant College employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chalmers Center For Economic Development At Covenant College is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Chalmers Center For Economic Development At Covenant College generated $2.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $3.1m during the year ending 06/2023. While expenses have increased by 4.1% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO HELP GOD'S PEOPLE RETHINK POVERTY AND RESPOND WITH PRACTICAL BIBLICAL PRINCIPLES SO THAT ALL ARE RESTORED TO FLOURISHING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOUNDATIONAL PRINCIPLES AND INNOVATION - THROUGH BOOKS, ONLINE COURSES, SPEAKING ENGAGEMENTS, AND THE AMBASSADORS PROGRAM, THE CHALMERS FRAMEWORK EQUIPS CHURCHES, CHRISTIAN NONPROFITS, AND INDIVIDUAL CHRISTIANS TO UNDERSTAND AND ADDRESS THE ROOT CAUSES OF MATERIAL POVERTY. THROUGH INNOVATION, CHRISTIAN LEADERS ARE EQUIPPED TO DEVELOP POVERTY ALLEVIATION MINISTRY THAT FOSTER REAL CHANGE.
WEST AFRICA PROGRAM AND INTERNATIONAL PROGRAM: TRAINING LOCAL LEADERS IN ECONOMIC DEVELOPMENT STRATEGIES IN WEST AFRICAN COUNTRIES AND BEYOND, SPECIFICALLY SAVINGS-LED MICROFINANCE GROUPS IN LOCAL CHURCHES; DEVELOPING OF MATERIALS FOR USE BY HIGH IMPACT PARTNERS AND DENOMINATIONAL LEADERS.
FAITH AND FINANCES AND WORK LIFE: DEVELOPING CURRICULUM IN FINANCIAL EDUCATION, INDIVIDUAL DEVELOPMENT ACCOUNTS, AND JOB PREPAREDNESS FOR LOCAL CHURCHES AND CHRISTIAN NOPROFITS, EQUIPPING THEM TO IMPACT LOW-INCOME POPULATIONS. INCLUDING THE DEVELOPMENT AND DEPLOYMENT OF ONLINE CURRICULUM FOR THESE COURSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Founder And President | OfficerTrustee | 32 | $45,000 |
Name Not Listed Secretary And Interim Treasurer | OfficerTrustee | 1 | $0 |
Name Not Listed Chief Academic | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Honeystreet Inc Brand Strategy/design Consulting | 6/29/23 | $137,500 |
Aaron Sebesta It Consulting | 6/29/23 | $104,025 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,310,766 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,310,766 |
| Total Program Service Revenue | $318,425 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $29,772 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,658,963 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $183,353 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $244,947 |
| Compensation of current officers, directors, key employees. | $40,025 |
| Compensation to disqualified persons | $93,730 |
| Other salaries and wages | $1,207,761 |
| Pension plan accruals and contributions | $28,792 |
| Other employee benefits | $340,608 |
| Payroll taxes | $107,651 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,439 |
| Fees for services: Accounting | $28,192 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $475,207 |
| Advertising and promotion | $13,629 |
| Office expenses | $38,472 |
| Information technology | $82,090 |
| Royalties | $0 |
| Occupancy | $35,262 |
| Travel | $90,913 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $41,763 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,477 |
| Insurance | $13,754 |
| All other expenses | $67,236 |
| Total functional expenses | $3,101,276 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $230,551 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $35,833 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $12,333 |
| Net Land, buildings, and equipment | $8,632 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $287,349 |
| Accounts payable and accrued expenses | $127,070 |
| Grants payable | $0 |
| Deferred revenue | $28,714 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $155,784 |
| Net assets without donor restrictions | -$82,812 |
| Net assets with donor restrictions | $214,377 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $287,349 |