2024-03-26T12:53:09+00:00 2023-06-30 363990892 Capin Crouse LLP 1255 Lakes Parkway Suite 105 Lawrenceville GA 30043 990 2022-07-01 273298736 Covenant College Foundation Inc COVE 7064191645 14049 Scenic Highway Lookout Mountain GA 30750 Marc Erickson President/Executive Director 7064191645 2024-03-26 true Marc Erickson 999009999 Daren Daiga P01074795 5055022746 2022 2023-04-26 12:10:37Z Marc Erickson 14049 Scenic Highway Lookout Mountain GA 30750 3111655 false X covenant.giftlegacy.com X 2010 GA Covenant College Foundation provides funds to support Covenant College. 15 14 0 14 66448 232812 805326 1670691 0 1815899 243553 3467 14581 2624692 1928825 739030 757533 0 0 0 0 1225 0 115126 263298 222972 1003553 980505 1621139 948320 18187987 20239671 17344 49 18170643 20239622 The Covenant College Foundation is the planned-giving arm of Covenant College. The primary purpose is to grow the College's endowment, which helps ensure the future of the College and the pursuit of its mission to explore and express the preeminence of Jesus Christ in all things. false false 757533 757533 The Covenant College Foundation exists to support Covenant College in its mission to provide members of the Presbyterian Church in America as well as the wider public with a Christ-centered college education. The Foundation achieves this mission by receiving gifts from donors that are then given to the College in the form of grants and scholarships to support the College's operations and fund students' education. 757533 true true false false false false false false true true true false false false false true true false false true false false false false false false true false true false false false false false false false false false false false false false true false false false true 0 0 0 true true false false false false false false false false false false false X 15 14 false false false false false true false true false false false true true true true true true false false false GA MS X Mark Huffines 7064191136 14049 Scenic Highway Lookout Mountain GA 30750 Michael Kramer Treasurer 1.0 X X 0 0 0 Richard Bowser Chairman 1.0 1.0 X X 0 0 0 Robert Wilkinson Secretary 1.0 X X 0 0 0 Beth Nedelisky Trustee 1.0 X 0 0 0 Bob Beck Trustee 1.0 X 0 0 0 Bob Curtis Trustee 1.0 1.0 X 0 0 0 Craig Wood Trustee 1.0 1.0 X 0 0 0 Dr J Derek Halvorson Trustee 1.0 40.0 X 0 270382 31535 J Allen Wright Trustee 1.0 0.0 X 0 0 0 James Grauley Trustee 1.0 X 0 0 0 John Truschel Trustee 1.0 1.0 X 0 0 0 Martin Moore Trustee 1.0 1.0 X 0 0 0 Sam Smartt Jr Trustee 1.0 1.0 X 0 0 0 Sarina Sharp Trustee 1.0 X 0 0 0 William Burdette Trustee 1.0 X 0 0 0 Fred Verwoerd Assistant Treasurer (part year) 1.0 40.0 X 0 122033 21654 Marc Erickson President/Executive Director 5.0 35.0 X 0 189095 22071 Mark Huffines Controller 1.0 40.0 X 0 0 0 0 581510 75260 0 false true false 0 1670691 1670691 0 0 0 0 0 706552 66448 640104 0 0 719831 1182830 -462999 0 -462999 -462999 14581 0 0 14581 14581 1928825 0 66448 191686 757533 757533 994 994 3950 3950 62672 62672 6225 0 0 6225 41123 185 40938 5500 5500 29873 29873 12619 12619 10000 10000 Unrelated business income tax 40904 40045 859 9112 0 0 9112 980505 757533 107846 115126 933006 1236156 0 0 2015000 0 2015000 2015000 11502137 13016740 3703844 3937775 0 34000 34000 18187987 20239671 17344 49 0 0 0 17344 49 X 5917311 6301594 12253332 13938028 18170643 20239622 18187987 20239671 948320 1120659 0 X false true X true false X X X 1 Covenant College Inc 430719506 2 true 757470 0 1 757470 0 true false false false false false false false false false true false false false false false Schedule A, Part II Covenant College Foundation has determined that, notwithstanding its classification as an organization described in section 509(a)(3), it nonetheless meets the public support test applicable to organizations described in section 170(b)(1)(A)(vi) and is therefore permitted to use the first special rule listed on page 1 of Schedule B in determining the threshold for listing donors on Schedule B, Part I. Schedule A, Part IV, Section A, Line 9c Disqualified Persons Ownership Interest In Any Entity A substantial contributor of the organization has a greater than 10% ownership interest in an investment in which the Foundation is also a greater than 10% owner. Schedule A, Part IV, Section C, Line 1 Majority director detail Seven of the Foundation's board members are voting members of the governing body of the supported organization. Another is an officer of the supported organization. Two officers of the Foundation are listed on Form 990, Part VII of the supported organization as an officer, director, trustee, key employee or highest compensated employee. The organization believes that the necessary relationship is established in order to show that it is supervised or controlled in connection with its supported organization. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14985981 1272801 1301540 855807 16704515 16871003 508992 -1805362 95198 493454 14985981 11213878 3081511 3143608 386194 181800 16871003 10987799 545325 201774 365892 155128 11213878 10910648 107491 460901 339178 152063 10987799 0.224 0.776 0.0 false false 2015000 2015000 2015000 Hedge Funds 1909414 C Private Equity 1231361 F Investment in bank 297000 C Investment in senior residence center 250000 C Limited Partnership 250000 F 3937775 2986812 1120659 0 1120659 1866153 62672 0 62672 1928825 917833 0 0 917833 62672 0 62672 980505 Schedule D, Part V, Line 4 Intended uses of endowment funds The endowment funds are invested to produce income which is used to fund scholarships for Covenant College as well as offset certain operating costs. Central America and the Caribbean 0 0 Investments 1598103 0 0 0 0 0 0 1598103 0 1598103 true false true true true false Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEAN-Accrual true Covenant College 14049 Scenic Highway Lookout Mountain GA 30750 430719506 501(c)(3) 757470 Supporting educational purposes 1 0 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. The Foundation provides cash grants to Covenant College to supplement student scholarships. The selection and monitoring of eligibility is performed by Covenant College. There are eleven board members or officers of the Foundation who are also board members or employees of Covenant College. false false false false false false false false false Dr J Derek Halvorson Trustee 0 260242 0 0 0 10140 0 5052 0 26483 0 301917 0 0 Marc Erickson President/Executive Director 0 154903 0 24758 0 9434 0 3135 0 18936 0 211166 0 0 Form 990, Part VI, Line 15 The organization does not compensate any officers or key employees. Therefore, these lines were answered no in accordance with the instructions. Form 990, Part VI, Line 1a Delegate broad authority to a committee The Executive Committee is composed of the at least three Board Members and a majority of the Members of the committee shall be Members of the Covenant College Board. 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, Line 7a Members or stockholders electing members of governing body The President of Covenant College shall be a member of the board and the president and/or members of the board of trustees of Covenant College shall always constitute more than one-half of the total Board members. Form 990, Part VI, Line 8b Documentation of meetings held by committees of governing body The organization has an Executive Committee with authority to act on behalf of the governing body. The Executive Committee was not called upon during the tax year and had no minutes. Therefore, this line was answered no in accordance with the instructions. Form 990, Part VI, Line 11b Review of form 990 by governing body 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, Line 12c Conflict of interest policy A officers, directors, and committee members with Board delegated powers are required to sign a conflict of interest disclosure form annually. The President/Executive Director is responsible for ensuring compliance and that conflicts are monitored, reported, and approved. The Board Chairman reviews the President/Executive Directors disclsoure. Should any potential conflicts of interest be disclosed, the board member or officer would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship. Form 990, Part VI, Line 19 Required documents available to the public The organization's governing documents, conflict of interest policy, and financial statements are made available upon request by inquiry to the President's office. Form 990, Part VIII, Line 11d Other Miscellaneous Revenue Other Income - Total Revenue: 14581, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 14581; Schedule F, Part IV Part IV, Lines 1, 3, 4 and 5 The Foundation has ownership in foreign investments as indicated in Schedule F, Part I. The Foundation analyzed its ownership in foreign organizations, both through partnership investments and directly, and has determined that it does not meet the reporting thresholds for Forms 8621, 8865, and 5471. The College does meet the reporting thresholds for Form 926 and those forms have been prepared and filed. Covenant College 14049 Scenic Highway Lookout Mountain GA 30750 430719506 Higher Education GA 501(c)(3) 2 NA false false true false false false false false false false false false true false true true true false false false