2026-07-23T14:16:11-05:00 2025-09-30 410746749 CLIFTONLARSONALLEN LLP 14815 BALLANTYNE VILLAGE WAY SUITE 300 CHARLOTTE NC 28277 990 2024-10-01 561210103 COVENANT VILLAGE INC COVE 7048672319 1351 ROBINWOOD ROAD GASTONIA NC 28054 E DALE MELTON CEO 7048672319 2026-07-22 1 0 KATHRINE A WARLICK P02065266 7049985200 2026-07-22 2024 2025-03-06 01:10:19Z E DALE MELTON 1351 ROBINWOOD ROAD GASTONIA NC 28054 17792046 0 X WWW.COVENANTVILLAGENC.COM X 1977 NC COVENANT VILLAGE IS A LIFE PLAN COMMUNITY THAT PROVIDES CONTINUING CARE AND SERVICES TO INDEPENDENT, ASSISTED-LIVING, AND SKILLED-NURSING RESIDENTS. 12 12 350 14 0 0 1365513 586840 15775716 17056644 103977 143246 0 0 17245206 17786730 0 0 0 0 11311695 10914385 0 0 0 6314957 7041446 17626652 17955831 -381446 -169101 32416398 55292114 24341080 46985792 8075318 8306322 OWNS AND OPERATES LIFE PLAN/CONTINUING CARE RETIREMENT COMMUNITY PROVIDING A CONTINUUM OF CARE FOR RESIDENTS ACROSS ALL LEVELS OF CARE INCLUDING SKILLED NURSING CARE, ASSISTED LIVING, AND INDEPENDENT LIVING. 0 0 15758640 0 17056644 DURING FISCAL YEAR 2024/2025, COVENANT VILLAGE SERVED APPROXIMATELY 277 RESIDENTS. ACCOMMODATIONS INCLUDE 42 TWO-BEDROOM COTTAGES, 137 APARTMENTS (STUDIO, ONE BEDROOM, AND TWO BEDROOM), AND A 72-BED HEALTH CENTER PROVIDING NURSING CARE AND ASSISTED LIVING BEDS. THE MAIN BUILDING INCLUDES A 9,700 SQUARE FOOT WELLNESS CENTER FOR RESIDENTS, THAT INCLUDES STATE OF THE ART CARDIO AND STRENGTH EQUIPMENT AND AN INDOOR SWIMMING POOL AND SPA. COVENANT VILLAGE IS CURRENTLY INVOLVED WITH AN EXPANSION PROJECT WITH THE GOAL OF PROVIDING ADDITIONAL BENEFITS TO CURRENT AND FUTURE RESIDENTS. 15758640 1 1 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 49 0 1 350 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 1 1 0 NC X KIM KLING 7048672319 1351 ROBINWOOD ROAD GASTONIA NC 28054 NANCY PASCHALL CHAIR 2.00 X X 0 0 0 WILLIAM CURRENT JR VICE-CHAIR 2.00 X X 0 0 0 CAROL CARSTARPHEN SECRETARY 2.00 X X 0 0 0 ROB COLLIS TREASURER (THRU 11/24) 2.00 X X 0 0 0 ADRIAN MILLER TREASURER (AS OF 11/24) 2.00 X X 0 0 0 RICK CRAIG DIRECTOR 2.00 X 0 0 0 FRANCES CROCKETT DIRECTOR (AS OF 11/2024) 2.00 X 0 0 0 H TIMOTHY EFIRD DIRECTOR 2.00 X 0 0 0 CHRISTY GLIDDON DIRECTOR 2.00 X 0 0 0 JOHN MCDONALD JR DIRECTOR (THRU 11/24) 2.00 X 0 0 0 REV LAUREN SEASE VANACORE DIRECTOR 2.00 X 0 0 0 KELLY SHEDD MD DIRECTOR 2.00 X 0 0 0 JULIE SHOVELIN DIRECTOR (AS OF 11/2024) 2.00 X 0 0 0 WES STYERS DIRECTOR 2.00 X 0 0 0 DALE MELTON CEO 40.00 X 293450 0 36462 KIMBERLY KLING SR/ DIRECTOR OF FINANCE & MARKETING 40.00 X 119087 0 16864 KEVIN STEWART HEALTH SERVICES ADMINISTRATOR, RN 40.00 X 153465 0 22431 JENNIFER BARKER SR. DIRECTOR OF HUMAN RESOURCES 40.00 X 123589 0 22513 MATTHEW GIBBONS COO 40.00 X 118799 0 17881 TERRY MOORE RN 40.00 X 114647 0 192 STEPHANIE WELLMAN DIRECTOR OF NURSING, BSN 40.00 X 108418 0 21899 1031455 0 138242 7 0 1 0 FRANK L BLUM CONSTRUCTION CO PO BOX 4153 WINSTONSALEM NC 27115 CONSTRUCTION SERVICES 3102892 US FOODS INC PO BOX 602286 CHARLOTTE NC 282602292 DIETARY SERVICES 626121 CJMW ARCHITECTURE PA 525 VINE STREET SUITE 350 WINSTONSALEM NC 27101 ARCHITECTURAL SERVICES 555464 JASON RUMFELT DBA RUMFELT RESIDENTIAL LL 433 HIGHWAY 324 W ROCKHILL SC 29730 CONTRACTOR 505450 CARPET ONE FLOOR AND HOME 2757 E OZARK AVE GASTONIA NC 28054 CARPETING AND RENOVATION SERVICES 481108 20 586840 67789 586840 RESIDENTIAL REVENUE 623000 14471184 14471184 ENTRANCE FEES 623000 2585460 2585460 17056644 143153 143153 1415 3994 0 5316 1415 -1322 93 93 17786730 17056644 0 143246 462033 462033 8654874 8251008 403866 1105516 1044929 60587 691962 635460 56502 42174 42174 244876 244876 4911 4911 60000 60000 20163 20163 243799 243799 795956 795956 161517 161517 2283056 2283056 376170 376170 FOOD 925251 925251 OUTSIDE SERVICES 695714 583541 112173 ALL OTHER 641676 240696 400980 SUPPLIES 387669 354750 32919 158514 158514 17955831 15758640 2197191 0 1792911 1442330 891660 684014 96112 290529 115712 181690 76442010 34667911 20112274 41774099 9121551 10201686 170273 146377 115905 571389 32416398 55292114 1893152 4748832 17799273 19679705 3406617 21110633 1242038 1446622 24341080 46985792 X 6704285 7338633 1371033 967689 8075318 8306322 32416398 55292114 -169101 400105 0 X X 0 1 X 1 0 X 2001385 3038616 48327 1365513 586840 7040681 12490480 12725188 13895775 15775716 17056644 71943803 14491865 15763804 13944102 17141229 17643484 78984484 188382 492852 195567 192154 354328 1423283 0 188382 492852 195567 192154 354328 1423283 77561201 1080780 -1067518 614330 100353 143153 871098 1080780 -1067518 614330 100353 143153 871098 15572645 14696286 14558432 17241582 17786637 79855582 0.97130 0.96700 0.01090 0.01540 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1444497 1444497 45104918 30565207 14539711 4759396 3697221 1062175 25133199 405483 24727716 41774099 SECURITIES 10201686 F 10201686 RIGHT OF USE LIABILITY 326131 DEPOSITS ON UNITS 1120491 1446622 X 17686315 106944 106944 17579371 4911 202448 207359 17786730 17950920 0 17950920 4911 4911 17955831 PART X, LINE 2: COVENANT IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SIMILAR STATE PROVISIONS. COVENANT FILES AS A TAX-EXEMPT ORGANIZATION. MANAGEMENT IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE THE TAX-EXEMPT STATUS OF COVENANT. MANAGEMENT IS NOT AWARE OF ANY SIGNFICIANT ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME OR EXCISE OR OTHER TAXES FOR COVENANT. COVENANT FOLLOWS GUIDANCE IN THE INCOME TAX STANDARD REGARDING RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE GUIDANCE HAS NO IMPACT ON COVENANT'S FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: NET ASSETS RELEASED FROM RESTRICTION 620,513. NET ASSETS RELEASED FROM RESTRICTIONS FOR CAPITAL -513,569. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF PROPERTY AND EQUIPMENT -1,322. RESTRICTED CONTRIBUTIONS 199,187. RESTRICTED INVESTMENT INCOME 4,583. X 0 0 0 0 0 0 0 1 0 DALE MELTON CEO 217328 0 76122 0 0 0 6717 0 29745 0 329912 0 0 0 KEVIN STEWART HEALTH SERVICES ADMINISTRATOR, RN 153465 0 0 0 0 0 4739 0 17692 0 175896 0 0 0 PART I, LINE 7 THE CEO IS ELIGIBLE FOR A BONUS BASED ON ACHIEVING PERFORMANCE MEASURES DETERMINED BY THE BOARD. X 1 67789 FAIR MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION EMAILS THE FORM 990 TO MEMBERS OF THE EXECUTIVE-FINANCE COMMITTEE FOR REVIEW AND APPROVAL BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE CEO IS SET BY THE BOARD USING COMPARABLE DATA. THE CEO DETERMINES COMPENSATION OF OTHER KEY EMPLOYEES USING COMPARABLE DATA FROM LEADING AGE AND OTHER ORGANIZATIONS. ANNUAL REVIEWS ARE COMPLETED FOR ALL KEY EMPLOYEES BY THE CEO. THE CEO RECEIVES AN ANNUAL REVIEW BY THE BOARD. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2025. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST, EITHER MAILED OR EMAILED. FORM 990, PART XII, LINE 2C: THE AUDIT REVIEW PROCESS AND AUDITOR SELECTION PROCESS ARE UNCHANGED FROM THE PRIOR YEAR.