Covenant College Inc is located in Lookout Mountain, GA. The organization was established in 1957. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2021, Covenant College Inc employed 996 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Covenant College Inc 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 06/2020, Covenant College Inc generated $50.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $48.1m during the year ending 06/2020. While expenses have increased by 1.5% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE CHRIST-CENTERED HIGHER EDUCATIONAL SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTIONAL EXPENSES: THESE EXPENSES RELATE DIRECTLY TO THE ACADEMIC DISCIPLINES OF THE COLLEGE. WITH APPROXIMATELY THIRTY MAJORS, TWO MASTER'S PROGRAMS, AND MORE THAN FIFTY MINORS AND CONCENTRATIONS, COVENANT COLLEGE PROVIDED NEARLY 900 STUDENTS WITH A WELL-ROUNDED LIBERAL ARTS EDUCATION WHILE SIMULTANEOUSLY PREPARING THEM FOR CAREERS OR ADVANCED DEGREES IN THEOLOGY, MEDICINE, BUSINESS, ART, MUSIC, ENGINEERING, EDUCATION, PSYCHOLOGY, INTERNATIONAL RELATIONS, AND MUCH MORE.
AUXILIARY ENTERPRISES AND INDEPENDENT OPERATIONS: THE COLLEGE'S FOUR RESIDENCE HALLS, STUDENT APARTMENTS, AND DINING HALL COMPOSE THE AUXILIARY ENTERPRISES. WHILE ALL OF THE HALLS OFFER A CLOSE, SUPPORTIVE COMMUNITY OF STUDENTS, EACH BUILDING HAS ITS OWN DISTINCTIVE PERSONALITY AND EACH FLOOR HAS ITS OWN IDENTITY AND TRADITIONS. ADDITIONALLY, THE COLLEGE HOSTS CAMPS AND CONFERENCES AND HAS AN ONSITE GIFT SHOP FILLED WITH COVENANT APPAREL, CLASSROOM SUPPLIES, SNACKS AND OTHER ITEMS. THE CAMPS AND CONFERENCES AS WELL AS THE GIFT SHOP ARE INCLUDED IN INDEPENDENT OPERATIONS.
STUDENT SERVICES: STUDENT SERVICES AT COVENANT HELP CREATE A RICH LEARNING ENVIRONMENT FOR OUR STUDENTS. FROM THE MOMENT A STUDENT BECOMES INTERESTED IN ATTENDING COVENANT, THE ADMISSIONS OFFICE PROVIDES HIM OR HER WITH RESOURCES AND PERSONALIZED ATTENTION TO HELP EACH STUDENT MAKE AN INFORMED AND THOUGHTFUL DECISION ABOUT WHERE TO ATTEND COLLEGE.THE STUDENT DEVELOPMENT OFFICE FOSTERS A POSITIVE RESIDENTIAL EXPERIENCE THROUGH INTENTIONAL TRAINING WITH RESIDENT ASSISTANTS, HALL PRESIDENTS, AND DORM COUNCILS. (CONTINUED ON SCHEDULE O)IN ADDITION TO CAMPUS ACTIVITIES, STUDENT DEVELOPMENT OFFERS STUDENT TRAINING PROGRAMS, INDIVIDUAL ACADEMIC COUNSEL, PROFESSIONAL COUNSELING AND MEDICAL SERVICES TO STUDENTS.OUR RECORDS AND FINANCIAL AID OFFICES PERSONALLY WORK WITH STUDENTS TO ENSURE THEY ARE ON TRACK FOR GRADUATION AND ARE FINANCIALLY ABLE TO COMPLETE THEIR EDUCATION AT COVENANT. STUDENTS HAVE ACCESS TO THE CENTER FOR CALLING & CAREER, WHERE THEY LEARN TO BUILD A RESUME, WRITE A COVER LETTER, INTERVIEW WELL, AND NETWORK WITH FUTURE EMPLOYERS.
ACADEMIC SUPPORT: THE COLLEGE WORKS TO PROVIDE STUDENTS WITH ACADEMIC SUPPORT AT EVERY STAGE OF THEIR COVENANT EDUCATION. IN ADDITION TO HIGHLY QUALIFIED STAFF, THE COVENANT LIBRARY IS NETWORKED WITH MORE THAN 18,000 OTHER INSTITUTIONS WORLDWIDE, PROVIDING INTERLIBRARY LOAN ACCESS AND DOCUMENT DELIVERY SERVICES TO OVER 1.3 BILLION LIBRARY ITEMS. OUR LIBRARY WAS ELEVENTH IN THE WORLD TO GO LIVE WITH THE ONLINE COMPUTER LIBRARY CENTER'S NEW CLOUD-BASED OPERATING SYSTEM, WEB-SCALE MANAGEMENT SERVICE. COVENANT'S WRITING CENTER IS LOCATED IN THE LIBRARY, PROVIDING STUDENTS ONE-ON-ONE TUTORING FOR ESSAYS, RESEARCH PAPERS, AND ANY WRITING-RELATED ASSIGNMENTS. THE OFFICE OF ACADEMIC AFFAIRS AT COVENANT WORKS TO PROVIDE SUPPORT FOR DEANS AND FACULTY MEMBERS AS THEY SEEK TO PROVIDE A RIGOROUS EDUCATION TO COVENANT STUDENTS. COVENANT'S MASTER OF EDUCATION AND MASTER OF ARTS IN TEACHING DEGREES OFFERED BY THE GRADUATE SCHOOL OF EDUCATION AT COVENANT PROVIDE STUDENTS WITH THE EXCEPTIONAL OPPORTUNITY OF COMPLETING A MASTER'S DEGREE IN ONE YEAR.COVENANT'S MACLELLAN SCHOLARS PROGRAM OFFERS COURSES DESIGNED TO ENCOURAGE CRITICAL THINKING AND DEVELOP THE SKILLS OF POTENTIAL CHRISTIAN LEADERS. STUDENTS IN THE PROGRAM TRAVEL INTERNATIONALLY WHILE AT COVENANT AND DEMONSTRATE LEADERSHIP THROUGH STUDENT-INITIATED PROJECTS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Dr J Derek Halvorson President | Officer | 40 | $270,706 |
Marc Erickson VP For Development/ccf Pres. | 35 | $178,723 | |
Fred Verwoerd VP Operations & Finance, CFO | Officer | 40 | $140,000 |
Jeff Hall VP Of Academic Affairs | 40 | $134,873 | |
Brad Voyles VP For Student Development | 40 | $128,099 | |
Jeff Sandhoff Major Gift Officer | 40 | $115,944 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Creative Dining Services Inc Food Services | 6/29/21 | $1,004,885 |
Chartwells Dining Services Food Services | 6/29/21 | $2,582,987 |
Capture Llc Lead Nurturing Software & Analysis | 6/29/21 | $153,549 |
Pce Llc General Contractor | 6/29/21 | $145,279 |
Ellucian Company Lp Software Vendor | 6/29/21 | $113,498 |
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $10,332,332 |
Investment income | $1,521,564 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $168 |
Net Gain/Loss on Asset Sales | -$424,635 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $50,724,767 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic individuals. | $18,885,085 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $467,317 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $13,574,617 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $2,308,212 |
Payroll taxes | $903,862 |
Fees for services: Management | $0 |
Fees for services: Legal | $32,123 |
Fees for services: Accounting | $79,362 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $188,691 |
Fees for services: Other | $1,230,147 |
Advertising and promotion | $73,327 |
Office expenses | $1,050,781 |
Information technology | $414,326 |
Royalties | $0 |
Occupancy | $1,406,037 |
Travel | $1,024,926 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $170,369 |
Interest | $74,940 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $3,414,678 |
Insurance | $83,255 |
All other expenses | $0 |
Total functional expenses | $48,119,813 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $2,538 |
Savings and temporary cash investments | $3,647,709 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $268,249 |
Loans from Officers, Directors, or Controlling Persons | $37,500 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $115,568 |
Prepaid expenses and deferred charges | $406,634 |
Investments—publicly traded securities | $20,835,967 |
Investments—other securities | $11,313,747 |
Investments—program-related | $1,432,164 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $98,255,603 |
Accounts payable and accrued expenses | $1,069,933 |
Grants payable | $0 |
Deferred revenue | $1,161,965 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $289,894 |
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 | $1,170,122 |
Total liabilities | $3,691,914 |
Net assets without donor restrictions | $0 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Total liabilities and net assets/fund balances | $94,563,689 |
Over the last fiscal year, Covenant College Inc has awarded $10,000 in support to 2 organizations.
Grant Recipient | Amount |
---|---|
GRACE PRESBYTERIAN CHURCH OF LOOKOUT MOUNTAIN PURPOSE: Gift to their benevolence fund. | $5,000 |
Lawrenceville, GA PURPOSE: Gift to individual campus minister. | $5,000 |
Over the last fiscal year, we have identified 1 grants that Covenant College Inc has recieved totaling $20,000.
Awarding Organization | Amount |
---|---|
Way Ahead Tr Uad 10-13-2011 Westhoff, TX PURPOSE: SUPPORT TO COLLEGE | $20,000 |
Beg. Balance | $43,363,592 |
Earnings | $12,367,641 |
Net Contributions | $4,969,972 |
Other Expense | $594,155 |
Grants | $1,539,953 |
Ending Balance | $58,567,097 |
Organization Name | Assets | Revenue |
---|---|---|
Eckerd College St Petersburg, FL | $226,479,498 | $127,879,721 |
Anderson University Anderson, SC | $269,873,980 | $130,183,026 |
Wofford College Spartanburg, SC | $486,613,567 | $116,076,279 |
Palm Beach Atlantic University Inc West Palm Beach, FL | $243,912,659 | $119,213,584 |
Spelman College Atlanta, GA | $855,779,306 | $182,970,731 |
Ringling College Of Art And Design Inc Sarasota, FL | $401,598,018 | $119,229,866 |
Lee University Cleveland, TN | $200,405,989 | $108,753,431 |
Morehouse College Atlanta, GA | $491,950,493 | $206,029,432 |
Union University Jackson, TN | $193,669,100 | $103,290,604 |
Lenoir-Rhyne University Hickory, NC | $251,750,614 | $101,403,823 |
Trevecca Nazarene University Nashville, TN | $238,062,092 | $96,180,255 |
Bethune-Cookman University Daytona Beach, FL | $214,110,723 | $117,726,569 |