2012-05-15T14:37:06-05:00 2011-06-30 HAZLETT LEWIS & BIETER PLLC 537 MARKET STREET SUITE 300 CHATTANOOGA TN 374021239 990 2010-07-01 430719506 COVENANT COLLEGE INC COVE 7068201560 14049 SCENIC HIGHWAY LOOKOUT MOUNTAIN GA 30750 JEFF HALL 7068201560 2012-05-09 1 SUSAN F KLAPMAN 4237566133 2012-05-09 2010 2016-02-24 21:20:13Z X JEFF HALL 14049 SCENIC HIGHWAY LOOKOUT MOUNTAIN GA 30750 42305248 0 X WWW.COVENANT.EDU X 1955 GA HIGHER EDUCATION 28 28 1099 0 937196 -195122 9285638 3910600 33564476 32567738 475953 1249731 601005 543476 43927072 38271545 11157129 11849521 0 0 15760442 15471250 30000 15000 1848700 12859222 11638988 39806793 38974759 4120279 -703214 66689991 67115603 4972185 3973230 61717806 63142373 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 AND STRONG TEACHING AND SCHOLARSHIP AT THE FOUNDATION, OUR CHRIST-CENTERED COMMUNITY SEEKS TO HELP STUDENTS MATURE IN THREE PRIMARY AREAS: IDENTITY IN CHRISTBIBLICAL FRAME OF REFERENCESERVICE THAT IS CHRIST-LIKE 0 0 19567548 11131167 26005651 INSTRUCTIONAL EXPENSES DIRECTLY RELATED TO THE ACADEMIC DISCIPLINES OF THE COLLEGE 1763792 ACADEMIC SUPPORT DEPARTMENTS 6072117 209746 STUDENT SERVICE DEPARTMENTS AND SCHOLARSHIPS AND GRANTS 1731332 LIBRARY AND PUBLIC SERVICE DEPARTMENTS 3574477 5626926 AUXILIARIES - ROOM AND BOARD 1132318 INDEPENDENT OPERATIONS FOR PROFIT BUSINESSES REPORTED ON FORM 990-T 6438127 5626926 33841584 1 1 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 1 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 112 0 1 1099 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 28 28 1 0 0 0 0 0 0 1 1 1 0 1 1 1 1 1 1 1 1 1 1 GA X ROBERT HARBERT 7064191116 14049 SCENIC HWY LOOKOUT MTN GA 30750 T MARCH BELL X 0 0 0 JOEL BELZ X 0 0 0 RICHARD T BOWSER X 0 0 0 WILLIAM P BURDETTE X 0 0 0 DAVID F BYERS X 0 0 0 DR J RENDER CAINES X 0 0 0 CHARLES R COX X 0 0 0 DR ROBERT DAVIS X 0 0 0 GARY HALUSKA X 0 0 0 DR BRADLEY M HARRIS X 0 0 0 DUNCAN HIGHMARK X 0 0 0 REV WILLIAM YONG JIN X 0 0 0 JAMES JOLLY X 0 0 0 REV MICHAEL L JONES X 0 0 0 MARTIN A MOORE X 0 0 0 REV A RANDY NABORS X 0 0 0 STEPHEN NIELSON X 0 0 0 DR ROBERT A PETTERSON X 0 0 0 PETER B POLK X 0 0 0 DR ROBERT S RAYBURN X 0 0 0 DONALD E RITTLER X 0 0 0 MARK GRIGGS X 0 0 0 DR DAVID ROUNTREE X 0 0 0 TIMOTHY PAPPAS X 0 0 0 DR A CRAIG TROXEL X 0 0 0 REV JULIAN RUSSELL X 0 0 0 REV STEVE SMALLMAN X 0 0 0 R CRAIG WOOD X 0 0 0 DR NIEL NIELSON 40.00 X 127186 0 99810 BRAD VOYLES 40.00 X 91279 0 9497 TROY DUBLE 40.00 X 113440 0 9737 DR JEFFREY HALL 40.00 X 115626 0 9497 JAMES DREXLER 40.00 X 91729 0 101415 KEVIN EAMES 40.00 X 113410 0 9465 ANTONIO CHIARELI 40.00 X 119207 0 9484 OLIVER TRIMIEW 40.00 X 104183 0 41700 GINNER HUDSON 40.00 X 117879 0 9497 902210 0 198687 7 0 1 0 CHARTWELLS DINING SERVICES PO BOX 91337 CHICAGO IL 60693 FOOD SERVICE 2306398 SKH CONSTRUCTION ENTERPRISES LLC 409 HARPER ST CHATTANOOGA TN 30405 CONSTRUCTION 440407 P&C CONSTRUCTION INC 2500 EAST 18TH ST CHATTANOOGA TN 37404 CONSTRUCTION 115980 3 388513 3522087 28751 3910600 TUITION & FEES 900099 26005651 26005651 ROOM & BOARD CHARGES 721310 5626926 5626926 CONFERENCE PROGRAM INC 721110 935161 935161 32567738 300249 2035 298214 155344 155344 155344 155344 4983185 4033703 949482 949482 949482 MISCELLANEOUS FEE INCO 611710 209746 209746 INTEREST ON A/R 900000 178386 178386 388132 38271545 31842323 937196 1581426 30000 30000 11819521 11819521 598368 247146 217103 134119 11958727 10198277 1089070 671380 131485 111137 13927 6421 1979150 1761489 82175 135486 803520 659856 88360 55304 52947 44223 8724 76381 76381 15000 15000 96275 96275 90996 84186 1335 5475 3377 1997 1380 658586 405948 75024 177614 54265 48263 -13661 19663 792 792 2155268 1805174 221592 128502 282159 186275 95884 FOOD SERVICES CHARGES 2216539 2183156 21941 11442 CONTRACTED SERVICES 1487338 1162692 278406 46240 UTILITIES 1212852 1201579 11273 SUPPLIES 1205749 959605 150569 95575 MISCELLANEOUS 918645 799141 118751 753 1126819 131919 649174 345726 38974759 33841584 3284475 1848700 448818 288153 2293597 2430981 1195089 481965 956608 839272 2709154 2255040 41677 44434 579847 242867 68478901 25844467 43276824 42634434 11476027 14550502 3712350 3347955 66689991 67115603 1078669 736784 1204374 482398 2689142 2754048 4972185 3973230 X 32240716 32559751 17240095 18193296 12236995 12389326 61717806 63142373 66689991 67115603 X -703214 2127781 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14998189 152331 2757920 17908440 13356060 737986 908515 4372 14998189 18520284 161145 -5331634 -6265 13356060 0.20430 0.69180 0 0 1898213 1898213 56160741 19711408 36449333 3206762 1058455 2148307 7146981 5074604 2072377 66204 66204 42634434 DEPOSITS, AGENCY FUNDS, GOVERNMENT ADVANCES 2417024 ACCRUED EXPENSES 303206 ANNUITY PAYABLES 33818 2754048 38271545 38974759 -703214 2127781 2127781 1424567 29171884 2127781 2127781 27044103 96275 11131167 11227442 38271545 27747317 0 27747317 96275 11131167 11227442 38974759 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: ENDOWMENT FUNDS ARE INVESTED TO PRODUCE INCOME WHICH IS USED TO FUND SCHOLARSHIPS. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS (TUITION SHOWN NET OF SCHOLARSHIPS ON FINANCIALS) 11,131,167. PART XIII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS (TUITION SHOWN NET OF SCHOLARSHIPS ON FINANCIALS) 11,131,167. PART X, LINE 2: THE COLLEGE AND ITS SUPPORTING FOUNDATION FOLLOW THE STATUTORY REQUIREMENTS FOR THEIR INCOME TAX ACCOUNTING AND GENERALLY AVOID RISKS ASSOCIATED WITH POTENTIALLY PROBLEMATIC TAX POSITIONS THAT MAY BE CHALLENGED UPON EXAMINATION. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 THE POLICY IS INCLUDED IN BOTH GRADUATE AND UNDERGRADUATE CATALOGS, THE COLLEGE WEBSITE, THE COLLEGE APPLICATION FOR ADMISSIONS AND COLLEGE ADVERTISING. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE ORGANIZATION RECEIVES ASSISTANCE FROM THE FOLLOWING FEDERAL PROGRAMS: FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT, FEDERAL WORK STUDY PROGRAM, FEDERAL PERKINS LOAN PROGRAM, FEDERAL PELL GRANT PROGRAM, FEDERAL DIRECT LOAN PROGRAM, ACADEMIC COMPETITIVENESS GRANT PROGRAM AND NATIONAL SCIENCE AND MATHEMATICS ACCESS TO RETAIN TALENT GRANT PROGRAM. X X X 1 JANE JELGERHUIS 14049 SCENIC HIGHWAY LOOKOUT MOUNTAIN GA 30750 FUNDRAISER 0 71250 15000 56250 71250 15000 56250 AL AK AR CA CO CT DC FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY 1 CHALMERS CENTER 14049 SCENIC HIGHWAY LOOKOUT MOUNTAIN GA 30750 272341083 501(C)(3) 30000 FMV SCHOOL INVESTMENT STUDIES FEDERAL GRANTOR/PASS-THROUGH GRANTOR/PROGRAM AND STUDENT FINANCIAL AID FROM COLLEGE 1063 11819521 OTHER INFORMATION: PART IV: THE COLLEGE PROVIDES SCHOLARSHIPS TO STUDENTS ENROLLED IN ITS PROGRAMS. SCHOLARSHIPS ARE AWARDED BASED ON STUDENT ACHEIVEMENTS IN ACADEMICS, PERFORMING ARTS, AND ATHLETICS. TO BE CONSIDERED FOR SCHOLARSHIP ASSISTANCE, STUDENTS MUST APPLY FOR ADMISSION, SUBMIT ACADEMIC TRANSCIPTS OF PRIOR EDUCATIONAL WORK, SUBMIT TEST SCORES (ACT/SAT), AND SUBMIT AN APPLICATION FOR THE SCHOLARSHIP PROGRAM. SOME SCHOLARSHIPS REQUIRE ADDITIONAL RECOMMENDATIONS OR CERTIFICATIONS BY THIRD PARTIES. ACADEMIC PROGRESS OF SCHOLARSHIP RECIPIENTS IS MONITORED, AND THEY MUST EARN A MINIMUM AMOUNT OF COLLEGE CREDITS AND A MINIMUM GPA EACH SEMESTER IN ORDER TO MAINTAIN ELIGIBILITY. THE COLLEGE MONITORS THE GRANTS GIVEN TO THE CHALMERS CENTER THROUGH THE CENTER BYLAWS THAT REQUIRE TWO OF THE COLLEGE OFFICERS, THE PRESIDENT AND THE ACADEMIC VICE PRESIDENT, TO BE ON THE CENTER'S BOARD. X X X X 1 1 X X X 0 1 0 0 0 0 0 0 0 DR NIEL NIELSON 127186 0 0 0 0 0 15000 0 84810 0 226996 0 0 0 X 8 28751 STOCK MKT MEAN COST/SHAR 0 1 1 THIRD PARTY USE: PART I, LINE 32B: WELLS FARGO RECEIVES AND SELLS STOCK GIFTS ON BEHALF OF THE ORGANIZATION. AMENDED RETURN FORM 990, PAGE 1, LINE B FORM 990 IS AMENDED TO CORRECTLY REPORT COMPENSATION FOR TWO INDIVIDUALS REPORTED IN PART VII, SECTION A, COLUMN C. THE ORIGINAL FORM 990 REPORTED A BENEFIT TWICE WHICH OVERSTATED REPORTABLE COMPENSATION. THE CORRECTED TOTAL FOR REPORTABLE COMPENSATION IN COLUMN C IS $902,210. FORM 990, PART VI, SECTION A, LINE 2 STEPHEN NIELSON, A TRUSTEE, IS THE BROTHER OF NIEL NIELSON, THE PRESIDENT OF THE COLLEGE. FORM 990, PART VI, SECTION B, LINE 11 THE ORGANIZATION PROVIDES FORM 990 TO THE BOARD OF TRUSTEES. THE AUDIT COMMITTEE MEETS AT LEAST ANNUALLY TO REVIEW AND APPROVE FORM 990 PRIOR TO FILING THE RETURN. 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. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE REVIEWS THE PRESIDENT'S SALARY IN ACCORDANCE WITH SALARY STUDIES AND IS APPROVED BY THE GOVERNING BOARD OF TRUSTEES ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 FORMS 1023, 990, 990-T AND OTHER DOCUMENTATION IS MADE AVAILABLE UPON REQUEST. CONTACT ADDRESSES FOR OFFICERS, DIRECTORS, ETC FORM 990, PART VII T. MARCH BELL - 3820 LINDA LANE, ANNANDALE, VA 22003-6109. JOEL BELZ - 392 OLD HAW CREEK ROAD, ASHEVILLE, NC 28805-1453. RICHARD T. BOWSER - 16 WEST CHRISTIAN COURT, ANGIER, NC 27501. WILLIAM P. BURDETTE - 15291 SAM SNEAD LANE, N. FT. MEYERS, FL 33917. DAVID F. BYERS - 4233 OLD BROOK TRIAL, BIRMINGHAM, AL 35243. DR. J. RENDER CAINES - 492 LARRY DRIVE, RINGGOLD, GA 30736. CHARLES R. COX - 2435 N. CENTRAL EXPWY, SUITE 700, RICHARDSON, TX 75080. DR. ROBERT DAVIS - 2800 BARRETT RIDGE ROAD, DRAPER, VA 24324. GARY HALUSKA - 5321 NORTH WOODVIEW AVE, PEORIA, IL 61614. DR. BRADLEY M. HARRIS - 8217 POPLAR PIKE, GERMANTOWN, TN 38138. DUNCAN HIGHMARK - 1817 HIGH OAK, ST. LOUIS, MO 63131. REV. WILLIAM YONG JIN - 3165 ST. JOHN'S LANE, ELLICOTT CITY, MD 21042. JAMES JOLLY - 347 IVEY GATE RIDGE #2, DALTON, GA 30720. REV. MICHAEL L. JONES - 1308 HIGHPOINT TERRACE, BIRMINGHAM, AL 35235. MARTIN A. MOORE - 4214 DUNHAM PARK ROAD, FLOWERY BRANCH, GA 30542. REV. A. RANDY NABORS - 2424 EAST 3RD STREET, CHATTANOOGA, TN 37404. STEPHEN NIELSON - P.O. BOX 12721, DALLAS, TX 75225. DR. ROBERT A. PETTERSON - 4200 KENSINGTON HIGH STREET, NAPLES, FL 34105. PETER B. POLK - 1929 BALTIMORE ANNAPOLIS BOULEVARD, ANNAPOLIS, MD 21409. DR. ROBERT S. RAYBURN - 620 SOUTH SHIRLEY STREET, TACOMA, WA 98465-2531. DONALD E. RITTLER - 18 SEMINARY DRIVE, LUTHERVILLE, MD 21093. MARK GRIGGS - 8849 FOREST CREEK LANE, OOLTEWAH, TN 37363. DR. DAVID ROUNTREE - 110 BENEFIELD'S RIDGE, WILLIAMSTON, SC 29697-9148. TIMOTHY PAPPAS - 11800 SW 63RD AVENUE, MIAMI, FL 33156. DR. A. CRAIG TROXEL - 222 W. ELM STREET, WHEATON, IL 60189. REV. JULIAN RUSSELL - 2540 TAN OAK DRIVE, DALLAS, TX 75212. REV. STEVE SMALLMAN - 519 OVERDALE ROAD, BALTIMORE, MD 21229. R. CRAIG WOOD - 1446 GROVE ROAD, CHARLOTTESVILLE, VA 22901. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 2,127,781. PART XI, LINE 2C: THE ORGANIZATION'S PROCESS FOR OVERSEEING THE AUDIT OF ITS FINANCIAL STATEMENTS AND FOR SELECTING AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. COVENANT COLLEGE FOUNDATION INC 14049 SCENIC HIGHWAY LOOKOUT MOUNTAIN GA 30750 621671894 RAISE FUNDS FOR EDUCATION GA 501(C)(3) 11, TYPE II N/A 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 COVENANT COLLEGE FOUNDATION INC C 218058 CASH