2015-05-13T22:24:50-05:00 2014-06-30 363990892 Capin Crouse LLP 1255 Lakes Parkway Suite 130 Lawrenceville GA 30043 990 2013-07-01 430719506 Covenant College COVE 7068201560 14049 Scenic Highway Lookout Mountain GA 30750 Daniel M Wykoff VP for Finance & Operations 7068201560 2015-05-13 1 David C Moja P00747006 6785185301 2013 2016-02-25 16:41:14Z J Derek Halvorson 14049 Scenic Highway Lookout Mountain GA 30750 45948568 0 X www.covenant.edu X 1955 GA To provide Christ-centered higher educational services. 27 27 1128 27 -12166 -12166 6655244 5138740 36176828 39181586 803917 928985 480062 162745 44116051 45412056 14005492 15076325 0 0 17139720 17808337 20090 9000 1552643 10975524 11360418 42140826 44254080 1975225 1157976 70853344 74123183 4059526 4066282 66793818 70056901 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 24874840 15076325 30817617 Instructional expenses: Institutional expenses directly related to the academic disciplines of the College. With twenty-nine majors, two masters programs, and more than forty minors and concentrations, Covenant College provided approximately 1,100 students with a well-rounded liberal arts education while simultaneously preparing them for careers in business, music, psychology, medicine, international relations, and much more. 6089028 314176 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. 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.More than forty percent of students are also intercollegiate athletes. Covenant is part of the NCAA Division III where our athletic teams have thrived. 5665679 8049793 Auxiliary enterprises and Conference Program: The College residence halls and dining hall comprise the auxiliary entprises. Additionally, the College hosts camps and conferences through its conference program and has an onsite bookstore. 2531494 Academic support, library department, and public service: 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. 2531494 39161041 1 1 0 0 0 0 0 1 1 1 1 1 0 0 1 1 0 1 1 0 1 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 0 0 1 1 0 0 0 1 0 0 0 1 1546 0 1 1128 1 0 0 0 0 0 0 0 0 0 0 X 27 27 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 GA X Robert Harbert 7064191116 14049 Scenic Highway Lookout Mountain GA 30750 Martin A Moore Chairman 1.00 1.00 X X 0 0 0 R Craig Wood Vice Chairman 1.00 1.00 X X 0 0 0 Richard T Bowser Secretary 1.00 X X 0 0 0 Gary Haluska Treasurer 1.00 1.00 X X 0 0 0 T March Bell Trustee 1.00 X 0 0 0 Joel Belz Trustee 1.00 1.00 X 0 0 0 Bill Borger Trustee 1.00 X 0 0 0 William P Burdette Trustee 1.00 1.00 X 0 0 0 Dr Render Caines Trustee 1.00 X 0 0 0 Charles Cox Trustee 1.00 X 0 0 0 Dr Robert Davis Trustee 1.00 X 0 0 0 Mark Griggs Trustee 1.00 1.00 X 0 0 0 Dr Bradley Harris Trustee 1.00 X 0 0 0 Rev Eric Hausler Trustee 1.00 X 0 0 0 Duncan Highmark Trustee 1.00 X 0 0 0 Rob Jenks Trustee 1.00 X 0 0 0 Rev Lance Lewis Trustee 1.00 X 0 0 0 Timothy Pappas Trustee 1.00 X 0 0 0 Peter B Polk Trustee 1.00 X 0 0 0 Donald E Rittler Trustee 1.00 X 0 0 0 Dr Michael Ross Trustee 1.00 X 0 0 0 Rev Julian Russell Trustee 1.00 X 0 0 0 Dr Stephen Sligh Trustee 1.00 X 0 0 0 Dr Gordon Sluis Trustee 1.00 X 0 0 0 Dr A Craig Troxel Trustee 1.00 X 0 0 0 Rev Dale Van Dyke Trustee 1.00 X 0 0 0 Robert Wilkinson Trustee 1.00 X 0 0 0 Dr J Derek Halvorson President 40.00 1.00 X 256659 0 28260 Dan Wykoff CFO 40.00 X 40502 0 9360 Dr Jeff Hall VP Academic Affairs 40.00 X 125535 0 26092 Marc Erickson Exec Dir of Covenant College Fdn 0.00 40.00 X 121252 0 39198 Troy Duble VP of Advancement 40.00 X 119406 0 21492 Brad Voyles VP of Student Development 40.00 X 102697 0 22852 766051 0 147254 5 0 1 0 Chartwells Dining Services PO Box 417632 Boston MA 02241 Food Service 2657616 Schaerer Contracting Co Inc 1720 Sholar Avenue Chattanooga TN 37406 Construction 1210034 P&C Construction Inc 2500 East 18th Street Chattanooga TN 37404 Construction 552862 3 418586 386473 4333681 181878 5138740 Tuition and fees 900099 30817617 30817617 Auxiliary enterprises 721310 7015996 7015996 Conference program 721110 1033797 1033797 Other fee income 611710 314176 314176 39181586 579340 579340 17000 16000 1000 1000 1000 870157 520512 349645 349645 349645 Other income 900000 161745 -12166 173911 161745 45412056 39181586 -12166 1103896 16700 16700 15059625 15059625 427095 427095 13606102 11610311 1133822 861969 484177 389681 58420 36076 2440102 2091581 89889 258632 850861 693461 97962 59438 23291 23291 55625 55625 9000 9000 77382 77382 1073223 746985 322469 3769 72074 67118 3256 1700 1704217 1373591 293230 37396 1296880 1236576 59233 1071 885668 715099 82155 88414 64694 46543 14075 4076 2380805 2380805 315684 181664 134020 Food services 2604534 2536355 40329 27850 806341 14946 628143 163252 44254080 39161041 3540396 1552643 815938 1294556 5472527 5775626 763618 349630 923714 903548 125000 165831 220352 184613 112194 250487 260766 256153 73870662 31866655 41670792 42004007 13846446 13469053 4565773 7197579 2076224 2272100 70853344 74123183 906932 1026440 608902 573731 466775 412373 2076917 2053738 4059526 4066282 X 32381022 34139425 21899009 22993129 12513787 12924347 66793818 70056901 70853344 74123183 1157976 2105107 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 38500 38500 X X 0 0 1 X 26576823 1006870 4373748 741355 407866 30808220 24388792 220971 3050839 754682 329097 26576823 25392042 199458 -162645 590627 449436 24388792 21539402 273950 4538799 651821 308288 25392042 18866495 479086 2193821 21539402 0.21850 0.61090 0.17060 0 1 1 1898213 1898213 58568594 23831790 34736804 5171891 2227666 2944225 8089011 5807199 2281812 142953 142953 42004007 Limited partnership 7197579 F 7197579 Funds held in federal loan programs 2022136 Annuities payable 31602 2053738 X 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 X, Line 2: The financial statement effects of a tax position taken or expected to be taken are recognized in the financial statements when it is more likely than not, based on the technical merits, that the position will be sustained upon examination. Interest and penalties, if any, are included in expenses in the statements of activities. As of June 30, 2014 and 2013, the College has analyzed its tax positions and believes that all are more likely than not to be sustained upon examination. The College files information tax returns in the U.S. and various states. The College is generally no longer subject to U.S. federal and state income tax examinations by tax authorities for years before 2010. 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 policy is included in the graduate and undergraduate catalogs, the college website, the college application for admission, and college advertising. 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, Federal Pell Grant Program, Federal Direct Loan Program, and Federal Teach Grant Program. Europe 0 0 Program services Study abroad program 116960 East Asia & the Pacific 0 1 Program services Higher education consulting 36684 Central America 0 0 Program services Study abroad program 14600 Middle East & North Africa 0 0 Program services Studey abroad program 12500 0 1 0 0 0 1 180744 0 180744 0 0 0 0 0 0 Part I, line 3: The College tracked expenditures in accordance with accrual basis of accounting using tuition and fees schedules for the students' studies. 1 Rangemark LLC 14049 Scenic Highway Lookout Mountain GA 30750 465735969 10000 Covenant College Entrepreneurial Seed Project Grant 0 1 Federal grantor/pass-through grantor/program and student financial aid from the College. 1083 15059625 Part I, Line 2: The College provides scholarships to students enrolled in its programs. Scholarships are awarded based upon student acheivements 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. The Seed Project Grant was established to foster and develop an entrepreneurial spirit amongst Covenant College students and to create an opportunity for the students to develop real ideas and put them into action. Business plans are submitted by students for initial review by a committee of Covenant College faculty, staff, alumni, and other friends of the College. Once the business plan earns approval, the plan is presented to an independent panel of judges. The College awards the Seed Project Grant after the independent panel declares a winning idea. Recipients provide receipts to demonstrate that funds were used for legitimate and appropriate business expenses, and the College follows up with recipients at six month intervals following the award until the funds are depleted. X X X X 1 1 X X 0 0 0 0 0 0 0 0 0 Dr J Derek Halvorson President 244587 0 0 0 12072 0 11550 0 22099 0 290308 0 0 0 Dr Jeff Hall VP Academic Affairs 125535 0 0 0 0 0 6503 0 20008 0 152046 0 0 0 Marc Erickson Exec Dir of Covenant College Fdn 118796 0 0 0 2456 0 6242 0 33705 0 161199 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, VP of Advancement and the Director of the Covenant College Foundation, and this is included in their taxable income. The President at times uses his home for business meetings and dinners and is reimbursed for expenses related to this. Such reimbursements are included in his taxable income. Club dues are reimbursed for the President, VP of Advancement and Director of the Covenant College Foundation, and this is included in taxable income. Derek Halvorson President of Covenant College Housing loan X 125000 112500 0 1 1 Dan Wykoff VP Finance & Operations Housing loan X 28000 28000 0 1 1 Brad Voyles VP Student Development Graduate studies tuition X 25331 25331 0 1 1 165831 12296 Tuition assistance X 1 38500 FMV X 26 143378 FMV 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 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 11 The Form 990 is prepared by an independent CPA firm and reviewed by the Controller and the CFO. The Audit Committee reviews and approves the Form 990 prior to filing the return. Additionally, the College provides its Form 990 to the Board of Trustees before the return is filed 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 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 President uses comparability data to determine compensation for the College's officers and executives. 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 XII, line 2c: The College'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. Covenant College Foundation Inc 14049 Scenic Highway Lookout Mountain GA 30750 273298736 Supporting Organization GA 501(c)(3) 11, Type II Covenant College 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 0