2020-06-09T15:08:24-05:00 2019-06-30 363990892 Capin Crouse LLP 1255 Lakes Parkway Suite 130 Lawrenceville GA 30043 990 2018-07-01 430719506 Covenant College COVE 7068201560 14049 Scenic Highway Lookout Mountain GA 30750 Fred Verwoerd VP Operations & Finance, CFO 7068201560 2020-06-09 1 Ted R Batson Jr P00721951 6785185301 139.146.132.42 2020-06-09 16:08:15 ED P E837F78391D18BEAC9FAB0186C1456B47F5133A5 2FBD22DA4ECEC9BD48F5FC27BD29BB4C120EA927 2018 2020-09-23 17:36:50Z Dr J Derek Halvorson 14049 Scenic Highway Lookout Mountain GA 30750 53190436 0 X www.covenant.edu X 1955 GA To provide Christ-centered higher educational services. 27 27 1134 27 0 -72240 8511423 5762357 42360611 43628224 1767026 2482769 3631670 179726 56270730 52053076 18319606 19080476 0 0 19009147 17951902 1250 0 2018306 13291125 13602025 50621128 50634403 5649602 1418673 100341114 98973141 9808416 6486700 90532698 92486441 X To explore and express the preeminence of Jesus Christ in all things; to educate Christians to engage culture and cultures; to examine and unfold creation; and to pursue biblical justice and mercy in community with the student-faculty relationship, (continued on Schedule O) strong teaching, and scholarship at the foundation. Our Christ-centered community seeks to help students mature in three primary areas: identity in Christ, Biblical frame of reference, and service that is Christ-like. 0 0 28452753 19080476 27849408 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 1,100 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. 7784548 7619475 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. 6480925 6343496 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.Covenant is a vibrant member of NCAA Division III athletics with approximately one-third of our students participating in intercollegiate athletics. 2036153 1992976 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. 2036153 1992976 44754379 1 1 0 0 0 0 0 1 1 1 1 0 0 0 1 0 0 1 1 0 1 0 0 0 1 0 0 1 1 1 0 0 0 1 0 0 0 0 1 0 0 0 1 1 0 0 0 1 1493 0 1 1134 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 27 27 1 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 GA X Jamie Gross 7064191136 14049 Scenic Highway Lookout Mountain GA 30750 Craig Wood Chairman 1.00 1.00 X X 0 0 0 Robert Wilkinson Vice Chairman 1.00 0.00 X X 0 0 0 Dr Robert Rayburn Secretary 1.00 0.00 X X 0 0 0 Martin Moore Treasurer 1.00 1.00 X X 0 0 0 Dr Bill Barcley Trustee 1.00 0.00 X 0 0 0 Rev Howard Brown Trustee 1.00 0.00 X 0 0 0 Rev Leon Brown Trustee 1.00 0.00 X 0 0 0 William Burdette Trustee 1.00 1.00 X 0 0 0 David Caines Trustee 1.00 0.00 X 0 0 0 Dr Render Caines Trustee 1.00 0.00 X 0 0 0 Bob Curtis Trustee 1.00 0.00 X 0 0 0 Mark Griggs Trustee 1.00 1.00 X 0 0 0 Gary Haluska Trustee 1.00 1.00 X 0 0 0 Dr Bradley Harris Trustee 1.00 0.00 X 0 0 0 Rev Eric Hausler Trustee 1.00 0.00 X 0 0 0 Duncan Highmark Trustee 1.00 0.00 X 0 0 0 Rob Jenks Trustee 1.00 0.00 X 0 0 0 Rev Ralph Kelley Trustee 1.00 0.00 X 0 0 0 Rev Lance Lewis Trustee 1.00 0.00 X 0 0 0 David Lucas Trustee 1.00 1.00 X 0 0 0 Rev Julian Russell Trustee 1.00 0.00 X 0 0 0 Dr Gordon Sluis Trustee 1.00 0.00 X 0 0 0 Rev Steve Smallman Jr Trustee 1.00 0.00 X 0 0 0 Sam R Smartt Jr Trustee 1.00 1.00 X 0 0 0 Rev Kevin Smith Trustee 1.00 0.00 X 0 0 0 John Truschel Trustee 1.00 0.00 X 0 0 0 J Allen Wright Trustee 1.00 1.00 X 0 0 0 Dr J Derek Halvorson President 40.00 1.00 X 256666 0 33187 Fred Verwoerd VP Operations & Finance, CFO 40.00 1.00 X 68287 0 5861 Marc Erickson Interim VP for Development/CCF Pres. 35.00 5.00 X 138853 0 72869 Jeff Hall VP of Academic Affairs 40.00 0.00 X 144966 0 32505 Jeff Sandhoff Major Gift Officer 40.00 0.00 X 125713 0 25439 Brad Voyles VP for Student Development 40.00 0.00 X 126126 0 42841 Brian Fikkert Professor of Econ. & Community Dev. 40.00 0.00 X 102880 0 63138 963491 0 275840 6 0 1 0 Chartwells Dining Services Compass Group USA Inc PO Box 4176 Boston MA 022417632 Food services 2977326 Brian Wishneff & Associates 30 West Franklin Road Suite 503 Roanoke VA 24011 Consulting/broker fee 557678 P & C Construction Inc 2500 East 18th Street Chattanooga TN 37404 Construction 434371 Art & Science Group LLC 300 E Lombard Street Suite 610 Baltimore MD 21202 Consulting 374173 Blue Granite LLC dba Cornerstone Automat 5959 Shallowford Road Suite 423 Chattanooga TN 37421 Systems installation 141691 7 11125 508194 394280 4848758 73490 5762357 Tuition and fees 611310 34046532 34046532 Auxiliary enterprises 611310 7468901 7468901 Conference program 611310 1484220 1484220 628571 628571 43628224 640824 640824 74779 61041 13738 13738 13738 1542415 1359166 1036686 22950 505729 1336216 1841945 1841945 5540 11125 16683 -11143 -11143 177131 177131 177131 52053076 43805355 0 2485364 18900 18900 19061576 19061576 468582 98376 271830 98376 13563640 11324515 1142847 1096278 13650 12300 750 600 3030054 2509340 312861 207853 875976 692431 102769 80776 50856 48195 2661 89859 85984 3875 182769 182769 1372580 850585 375313 146682 72112 50509 12798 8805 1034180 741789 186762 105629 392922 157281 235641 1513765 1264221 242898 6646 1660952 1448883 61493 150576 178155 87210 32868 58077 139084 139084 3397673 3208748 165711 23214 97619 56097 41522 Food services & events 3106817 3072685 28883 5249 312682 98933 190740 23009 50634403 44754379 3861718 2018306 X 123279 25300 729735 1403777 5000 1537135 1129963 62500 50000 42389 24175 111809 118376 255415 350648 107145672 44766883 64227936 62378789 30081765 27054928 1055593 4638093 2108558 1799092 100341114 98973141 1187058 1771054 2684943 2376869 336326 279238 3803750 263200 1796339 1796339 9808416 6486700 X 64190200 65600881 26342498 26885560 90532698 92486441 100341114 98973141 1418673 535070 0 X X 0 1 X 1 1 1 X 9452710 6470680 7927667 8511423 5762357 38124837 9452710 6470680 7927667 8511423 5762357 38124837 4476380 33648457 382414 299996 419074 634170 715603 2451257 2736 2736 199418 764149 1217599 3404376 1541837 7127379 47706209 205659230 0.70530 0.73590 X Schedule A, Part II, Line 10, Explanation of Other Income: Other income - 2014 Amount: $ 199,418. 2015 Amount: $ 764,149. 2016 Amount: $ 1,217,599. 2017 Amount: $ 3,404,376. 2018 Amount: $ 1,536,297. Fundraising income - 2018 Amount: $ 5,540. Schedule A, Part II: The organization is a school as described under 170(b)(1)(A)(ii) and is not required to complete a public support schedule. Schedule A, Part II is completed to verify the School can qualify under public charity status section 170(b)(1)(A)(vi) and, therefore, qualifies to use the first listed special rule for Schedule B reporting. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 38500 X X 0 0 1 X 42048006 604493 1959755 1310643 620791 42680820 39286339 1912350 2915489 1520209 545963 42048006 34135905 1924571 4599825 997425 376537 39286339 35879650 596682 -1145810 773235 421382 34135905 30808220 5744748 263088 373192 563214 35879650 0.21280 0.78720 0 1 1 1892595 1892595 93846565 36790048 57056517 11373615 7976835 3396780 32897 32897 62378789 Funds held in federal loan programs 1796339 1796339 Part III, Line 4: The College was gifted a collection of Audubon art prints, which promote the arts to students and the public. Part IV, Line 2b: Deposits held in custody represent amounts held as agency accounts for various College clubs and activities. Part V, Line 4: Endowment funds are invested to produce income, which is used to fund scholarships, pay for salary and general operation expenses, and maintain facilities. Part V, lines 2a-2c: In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 6/30/2019. To date, Form 990 and its associated schedules have not been updated to reflect changes made by this standard. Thus, we have included the net asset categories in our audited financial statements on existing Form 990, Schedule D, Part V, Lines 2a-2c as follows: Line 2a - Without donor restrictions Line 2b - With donor restrictions 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 The organization currently enrolls students of racial minority groups in meaningful numbers consistent with the publicity exception found in Rev. Proc. 75-50 section 4.03(2)(b). Schedule E, Part I, Line 6 The college receives assistance from the following federal programs: Federal Supplemental Educational Opportunity Grant, Federal Work Study, Federal Perkins Loan Program (in accordance with federal regulations no new loans are being issued; current activity is limited to collecting existing loans), Federal Pell Grant Program, Federal Direct Loan Program, and Federal Teach Grant Program. Europe (Including Iceland & Greenland) 0 0 Program services Study abroad program 281915 East Asia and the Pacific 0 0 Program services Study abroad program 62750 Middle East and North Africa 0 0 Program services Study abroad program 16200 0 0 0 0 0 0 360865 0 360865 1 0 0 1 1 0 Part I, line 3: The College tracked expenditures in accordance with accrual basis of accounting. Tuition and fees schedules for the students' studies were used for the study abroad programs. Part IV, Lines 1, 4 and 5 The organization has analyzed its ownership in foreign organizations through partnership investments and has determined that it does not meet the reporting requirements for Form 926, 8621 and 8865. 1st Annual Athletics Golf Outing 16665 11125 5540 1200 245 7375 1600 6263 16665 11125 5540 1200 245 7375 1600 6263 16683 -11143 1 National Christian Forensics & Communications Association (NCFCA) PO Box 2403 Orland Park IL 60462 330933909 501(c)(3) 10000 Sponsorship 1 0 Federal grantor/pass-through grantor/program and student financial aid from the College. 996 19061576 Part I, Line 2: The College provides scholarships to students enrolled in its programs. Scholarships are awarded based upon student achievements in academics and performing arts. To be considered for scholarship assistance, students must apply for admission and submit academic transcripts of prior education work, test scores (ACT/SAT), and an application for the scholarship program. Some scholarships require additional recommendations or certifications by third parties. Academic progress of scholarship recipients is monitored, and recipients must earn both a minimum amount of college credits and a minimum GPA each semester in order to maintain eligibility. Scholarships are applied directly to student accounts. A college representative was present at the events held by NCFCA to ensure the grant was used for the intended purpose. X X X 1 1 X X 0 0 0 0 0 0 0 0 0 Dr J Derek Halvorson President 256666 0 0 0 0 0 0 0 38056 0 294722 0 0 0 Marc Erickson Interim VP for Development/CCF Pres. 138853 0 0 0 0 0 0 0 73543 0 212396 0 0 0 Jeff Hall VP of Academic Affairs 144966 0 0 0 0 0 0 0 33207 0 178173 0 0 0 Jeff Sandhoff Major Gift Officer 125713 0 0 0 0 0 0 0 26092 0 151805 0 0 0 Brad Voyles VP for Student Development 126126 0 0 0 0 0 0 0 43444 0 169570 0 0 0 Brian Fikkert Professor of Econ. & Community Dev. 102880 0 0 0 0 0 0 0 63495 0 166375 0 0 0 Part I, Line 1a The President's wife travels with him on occasion, and this is included in his taxable income. Tax indemnification and gross up benefits are provided for the President and the Interim VP for Development/CCF President, and this is included in their taxable income. Club dues are reimbursed for the President, Interim VP for Development/CCF President and this is included in taxable income. Dr J Derek Halvorson President Housing loan X 125000 50000 0 1 1 50000 X 8 73490 Cost 0 0 1 0 Part I, Column (b): The number of contributions represent the number of contributions received, not the number of items donated. Form 990, Part VI, Section A, line 1 The Executive Committee is composed of the four officers of the Board, the Chair of the Trustee Development/Spiritual Life Committee, and five other trustees as determined by the Board Chairman, the College President, and the Trustee Development/Spiritual Life Committee Chairman. The Board of Trustees may delegate to the Executive Committee any of the powers and authority of the Board in the management of the business affairs of the Corporation. The Executive Committee transactions shall be reported regularly to the Board of Trustees and are subject to ratification. Form 990, Part VI, Section A, line 2 Dr. Render Caines and David Caines have a family relationship. Sam Smartt, Jr. and David Caines have a family relationship. Form 990, Part VI, Section A, line 7a The General Assembly of the PCA elects members to the Board of Trustees and fills vacancies. The Assembly may, at its discretion, increase or decrease the number of Trustees. Form 990, Part VI, Section B, line 11b Form 990 is prepared by an independent CPA firm and reviewed in detail by the organization's top management. The reviewed Form 990 is then provided to the board of directors prior to filing with the IRS. Form 990, Part VI, Section B, line 12c The officers, directors, and committee members with Board delegated powers are required to sign a disclosure form annually. The Executive Committee reviews the signed statements and enforces compliance with the conflict of interest policy. Any board member with a conflict of interest abstains from voting on matters in which there could be a conflict of interest. Form 990, Part VI, Section B, line 15 Annually, the independent Executive Committee reviews the President's salary in comparison with salary studies before submitting the proposed salary to the governing Board of Trustees for approval. This review and approval is documented in the Executive Committee meeting minutes. The independent President uses comparability data to determine compensation for the College's officers and executives. This process is documented. Form 990, Part VI, Section C, line 19 The College's governing documents, conflict of interest policy, and financial statements are made available upon request. Form 990, Part X, Lines 27-29: In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 6/30/2019. The 2018 Form 990 and its associated schedules have not been updated to reflect changes made by this standard. Thus, we have reported the revised net asset categories from the audited financial statements as follows on Form 990, Part X, Lines 27-29: Line 27 - Net assets without donor restrictions $65,600,881 Line 29 - Net assets with donor restrictions $26,885,560 Total net assets $92,486,441 Form 990, Part XII, Line 2c: The organization's Board assumes responsibility for oversight of the audit of its financial statements and selection of its independent accountant. This process has not changed since the prior year. Carter Hall Landlord LLC 14049 Scenic Highway Lookout Mountain GA 30750 300885287 Residence hall and dining hall services for Covenant College students GA 5799054 41572047 Covenant College Carter Hall Manager LLC 14049 Scenic Highway Lookout Mountain GA 30750 475304636 Residence hall and dining hall services for Covenant College students GA 57991 415720 Covenant College Covenant College Foundation Inc 14049 Scenic Highway Lookout Mountain GA 30750 273298736 Supporting Organization GA 501(c)(3) Line 12b, II Covenant College 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0 Covenant College Foundation Inc C Covenant College Foundation Inc M Covenant College Foundation Inc N Covenant College Foundation Inc O Covenant College Foundation Inc Q