2017-05-11T13:39:31-05:00 2016-06-30 363990892 Capin Crouse LLP 1255 Lakes Parkway Suite 130 Lawrenceville GA 30043 990 2015-07-01 430719506 Covenant College COVE 7064191118 14049 Scenic Highway Lookout Mountain GA 30750 Daniel M Wykoff VP for Finance&Operations/CFO 7064191118 2017-05-11 1 David C Moja P00747006 6785185301 2015 2021-01-29 14:40:06Z J Derek Halvorson 14049 Scenic Highway Lookout Mountain GA 30750 46779955 0 X www.covenant.edu X 1955 GA To provide Christ-centered higher educational services. 28 28 1120 28 0 -25147 9452710 6470680 39727703 39245130 704191 275075 207626 742889 50092230 46733774 15308443 15481031 0 0 17431966 17467493 6000 14250 1271861 11391211 11012149 44137620 43974923 5954610 2758851 80798124 87274598 5003201 9582322 75794923 77692276 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 25683456 15468031 31436581 Instruction: 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. 6693046 7389992 Auxiliary enterprises and independent operations: The College residence halls and dining hall compose the auxiliary enterprises. Additionally, the College hosts camps and conferences through its conference program and has an onsite bookstore, both of which are included in independent operations 5683138 418557 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.Covenant is a vibrant member of NCAA Division III athletics with approximately one-third of our students participating in intercollegiate athletics. 1007624 13000 567681 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. 1007624 13000 567681 39067264 1 1 0 0 0 0 0 1 1 1 1 0 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 0 0 0 1 1 0 0 0 1 1501 0 1 1120 1 1 1 0 0 0 0 0 0 0 0 0 X 28 28 0 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 Richard Bowser Chairman 1.00 X X 0 0 0 Martin Moore Vice Chairman 1.00 1.00 X X 0 0 0 Dr Robert Rayburn Secretary 1.00 X X 0 0 0 Gary Haluska Treasurer 1.00 1.00 X X 0 0 0 Joel Belz Trustee 1.00 X 0 0 0 Bill Borger Trustee 1.00 X 0 0 0 William Burdette Trustee 1.00 1.00 X 0 0 0 Dr Render Caines Trustee 1.00 X 0 0 0 Bob Curtis Treasurer 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 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 Ralph Kelley Trustee 1.00 X 0 0 0 Rev Lance Lewis Trustee 1.00 X 0 0 0 David Lucas Trustee 1.00 1.00 X 0 0 0 Peter Polk 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 Rev Steve Smallman Jr Trustee 1.00 X 0 0 0 Rev Kevin Smith Trustee 1.00 X 0 0 0 Dr Bryce Sullivan 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 255004 0 29310 Daniel Wykoff CFO 40.00 1.00 X 120989 0 25240 Marc Erickson Dir of Covenant College Fd 1.00 40.00 X 128805 0 66062 Jeff Hall VP of Academic Affairs 40.00 X 131389 0 27596 Jeff Sandhoff VP for Advancement 40.00 X 115966 0 24183 Brad Voyles VP for Student Development 40.00 X 108863 0 22298 Brian Fikkert Faculty 40.00 X 101292 0 26088 962308 0 220777 7 0 1 0 Brasfield & Gorrie LLC 3021 7th Avenue South Birmingham AL 35233 Construction 5085387 Chartwells Dining Services PO Box 417632 Boston MA 022417632 Food Service 2493160 P&C Construction Inc 2500 East 18th Street Chattanooga TN 37404 Construction 2029985 Lord-Aeck-Sargent 1175 Peachtree Street NE Suite 240 Atlanta GA 30361 Construction 469104 Young's Paving Inc 9216 Hunters Bend Circle Ooltewah TN 37363 Construction 334538 9 400479 387998 5682203 472843 6470680 Tuition and fees 611310 31436581 31436581 Auxiliary enterprises 611310 6640373 6640373 Conference program 611310 749619 749619 418557 418557 39245130 275075 275075 24921 46181 -21260 -21260 -21260 Tax Credit Revenue 900099 567681 567681 Other income 900099 196468 196468 764149 46733774 39812811 0 450283 13000 13000 15468031 15468031 423046 423046 13350785 11376604 1254013 720168 484053 403758 51834 28461 2360236 2117072 98746 144418 849373 693700 105730 49943 78085 37889 40196 75221 75221 14250 14250 61722 61722 931138 702071 193746 35321 65571 42280 3877 19414 1557384 1264746 223461 69177 367432 30458 336974 1602986 1210040 365080 27866 999042 811507 80671 106864 119637 60211 40273 19153 7834 6459 1375 2358711 2249743 94310 14658 11800 9610 2000 190 Food services & events 2388053 2356182 15958 15913 387533 213903 167565 6065 43974923 39067264 3635798 1271861 2922107 827420 3463312 463444 34499 39182 1183862 1202765 128000 112973 186655 138563 78342 91745 239100 159210 93174435 36688468 43887876 56485967 18231685 23771654 8252605 1659359 2190081 2192809 0 129507 80798124 87274598 2084584 1894903 522443 1267444 4000000 390699 416309 2005475 2003666 5003201 9582322 X 34618203 35634496 22739622 23169730 18437098 18888050 75794923 77692276 80798124 87274598 2758851 -861498 0 X X 0 1 X 1 1 1 X 6165635 6655244 5138740 9452710 6470680 33883009 6165635 6655244 5138740 9452710 6470680 33883009 1004594 32878415 721585 683337 596340 387195 299996 2688453 254354 181315 173911 199418 764149 1573147 38144609 188615545 0.86190 0.83430 X 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 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 35879650 596682 -1145810 773235 421382 34135905 30808220 5744748 263088 373192 563214 35879650 26576823 1006870 4373748 741355 407866 30808220 24388792 220971 3050839 754682 329097 26576823 25392042 199458 -162645 590627 449436 24388792 0.18000 0.74000 0.08000 0 1 1 1892595 1892595 68712297 26764577 41947720 9007957 6914666 2093291 13561586 3009225 10552361 56485967 Funds held in federal loan programs 1973830 Annuities payable 29836 2003666 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, 2016 and 2015, 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 2013. 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 (Including Iceland & Greenland) 0 0 Program services Study abroad program 140906 East Asia and the Pacific 0 0 Program services Study abroad program 75650 Middle East and North Africa 0 0 Program services Study abroad program 18077 Russia and Neighboring States 0 0 Program services Study abroad program 15000 0 0 0 0 0 0 249633 0 249633 0 0 0 0 0 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. 1 Reformed University Fellowship 1700 North Brown Road Suite 104 Lawrenceville GA 30043 581713181 501 (c) 3 5000 Gift to individual campus minister. Grace Presbyterian Church of Lookout Mountain 13478 Scenic Hwy Lookout Mountain GA 30750 501 (c) 3 5000 Gift to their benevolence fund. 2 Federal grantor/pass-through grantor/program and student financial aid from the College. 1091 15468031 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 (including those who have been graduated for less than 1 year) 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. Elevate is a national entrepreneurial competition, the College hosted one of their three regional competitions. X X X X 1 1 X X 0 0 0 0 0 0 0 0 0 Dr J Derek Halvorson President 252664 0 0 0 2340 0 11666 0 22401 0 289071 0 0 0 Marc Erickson Dir of Covenant College Fd 128805 0 0 0 0 0 6430 0 60045 0 195280 0 0 0 Jeff Hall VP of Academic Affairs 131389 0 0 0 0 0 6698 0 21326 0 159413 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 87500 0 1 1 Dan Wykoff VP Finance & Operations Other X 28000 25473 0 1 1 112973 62620 Tuition assistance Financial assistance X 15 32843 FMV X 1 440000 Appraisal 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 in detail by the CFO. The reviewed Form 990 is then provided to the organization's governing body 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 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 -1272732 22163533 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 0 500 Covenant College 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 1 0 0 0 0 1 0 0 1 1 1 0 1 0 0 Covenant College Foundation Inc C Covenant College Foundation Inc E Covenant College Foundation Inc M Covenant College Foundation Inc N Covenant College Foundation Inc O Covenant College Foundation Inc Q