2024-08-05T14:53:35-05:00 2023-09-30 410746749 CLIFTONLARSONALLEN LLP 227 WEST TRADE STREET SUITE 800 CHARLOTTE NC 28202 990 2022-10-01 561210103 COVENANT VILLAGE INC COVE 7048672319 1351 ROBINWOOD ROAD GASTONIA NC 28054 E DALE MELTON CEO 7048672319 2024-08-05 1 0 JOHN NORMAN P01050676 7049985200 2024-07-30 2022 2024-08-08 14:25:15Z E DALE MELTON 1351 ROBINWOOD ROAD GASTONIA NC 28054 14366748 0 X WWW.COVENANTVILLAGENC.COM X 1977 NC OWNS AND OPERATES A CONTINUING CARE RETIREMENT COMMUNITY AND PROVIDES NURSING CARE, ASSISTED LIVING, AND SERVICES FOR THE INDEPENDENT ELDERLY. 12 12 312 12 0 0 3038616 48327 12725188 13895775 -1099125 422316 0 0 14664679 14366418 0 0 0 0 8778287 11145169 0 0 0 5525305 6286601 14303592 17431770 361087 -3065352 24815314 24993301 14809427 17594252 10005887 7399049 OWNS AND OPERATES A CONTINUING CARE RETIREMENT COMMUNITY AND PROVIDES NURSING CARE, ASSISTED LIVING, AND SERVICES FOR THE INDEPENDENT ELDERLY. 0 0 15798665 13895775 DURING FISCAL YEAR 2022/2023, COVENANT VILLAGE SERVED APPROXIMATELY 265 RESIDENTS. ACCOMMODATIONS INCLUDE 42 TWO-BEDROOM COTTAGES, 138 APARTMENTS (STUDIO, ONE BEDROOM, AND TWO BEDROOM), AND A 71-BED HEALTH CENTER PROVIDING NURSING CARE AND ASSISTED LIVING BEDS. THE MAIN BUILDING INCLUDES A 9,700 SQUARE FOOT WELLNESS CENTER FOR RESIDENTS, THAT INCLUDES STATE OF THE ART CARDIO AND STRENGTH EQUIPMENT AND AN INDOOR SWIMMING POOL AND SPA. 15798665 1 1 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 44 0 1 312 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 1 1 0 NC X KIM KLING 7048672319 1351 ROBINWOOD ROAD GASTONIA NC 28054 NANCY PASCHALL CHAIR 2.00 X X 0 0 0 WILLIAM CURRENT JR VICE-CHAIR 2.00 X X 0 0 0 CAROL CARSTARPHEN SECRETARY 2.00 X X 0 0 0 ROB COLLIS TREASURER 2.00 X X 0 0 0 RICK CRAIG DIRECTOR 2.00 X 0 0 0 H TIMOTHY EFIRD DIRECTOR 2.00 X 0 0 0 CHRISTY GLIDDON DIRECTOR 2.00 X 0 0 0 JOHN MCDONALD JR DIRECTOR 2.00 X 0 0 0 ADRIAN MILLER DIRECTOR 2.00 X 0 0 0 KELLY SHEDD MD DIRECTOR 2.00 X 0 0 0 WES STYERS DIRECTOR 2.00 X 0 0 0 REV LAUREN SEASE VANACORE DIRECTOR 2.00 X 0 0 0 E DALE MELTON CEO 40.00 X 225613 0 38086 KIMBERLY KLING SENIOR DIRECTOR OF FINANCE 40.00 X 108510 0 20778 KEVIN STEWART HEALTH CENTER ADMINISTRATOR, RN 40.00 X 149646 0 27466 PAMELA PAIGE SENIOR DIRECTOR OF MARKETING & ADMISSIONS 40.00 X 132853 0 38408 JENNIFER BARKER SENIOR DIRECTOR OF HUMAN RESOURCES 40.00 X 113005 0 15761 DARLENE TULBERT RN 40.00 X 100748 0 27248 RUSSELL CRAIG SR. DIRECTOR, PROPERTY SERVICES 40.00 X 107042 0 3211 937417 0 170958 8 0 1 0 CJMW 525 VINE STREET SUITE 350 WINSTONSALEM NC 27101 ARCHITECTURAL SERVICES 504558 CARPET ONE FLOOR AND HOME 2757 E OZARK AVE GASTONIA NC 28054 FLOORING INSTALLATION 270331 MORRIS MECHANICAL INC PO BOX 1215 DALLAS NC 28034 HVAC AN DEHUMIDIFICATION UNITS INSTALLAT 231607 WELLPOINTE ADVISORS INC 250 SOUTH NEW HOPE ROAD GASTONIA NC 28054 MARKETING CONSULTING 204000 STRAIGHT EDGE PAINTING PROS 5401 SPARROW DAIRY ROAD GASTONIA NC 28056 PAINTING 177300 17 48327 2660 48327 RESIDENTIAL REVENUE 623000 12271099 12271099 ENTRANCE FEES 623000 1624676 1624676 13895775 266830 266830 155816 0 330 155816 -330 155486 155486 14366418 13895775 0 422316 226653 226653 8978319 8505779 472540 1246384 1118258 128126 693813 642174 51639 33209 33209 154401 154401 60000 60000 77093 77093 239931 239931 701089 701089 48273 48273 2121231 2121231 263763 263763 FOOD 920519 920519 REPAIRS & MAINTENANCE 462376 462376 OUTSIDE SERVICES 450330 408936 41394 ALL OTHER 426406 195166 231240 327980 297840 30140 17431770 15798665 1633105 0 334083 322876 2999056 129695 76119 134893 35039 51289 48880905 31768832 15513059 17112073 4873030 7125682 796459 178169 0 127093 24815314 24993301 915613 1088419 12243608 14936823 1500000 1300000 150206 269010 14809427 17594252 X 9858642 7254363 147245 144686 10005887 7399049 24815314 24993301 -3065352 458514 0 X X 0 1 X 1 0 X 71376 232404 2001385 3038616 48327 5392108 12181735 12961463 12490480 12725188 13895775 64254641 12253111 13193867 14491865 15763804 13944102 69646749 257098 269952 188382 492852 195567 1403851 0 257098 269952 188382 492852 195567 1403851 68242898 180575 434548 1080780 -1067518 614330 1242715 180575 434548 1080780 -1067518 614330 1242715 12433686 13628415 15572645 14696286 14558432 70889464 0.96270 0.98800 0.01750 0.01000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1444496 1444496 40199649 26922272 13277377 4624882 3097349 1527533 2611878 1749211 862667 17112073 SECURITIES 7125682 F 7125682 RIGHT OF USE LIABILITY 129465 DEPOSITS ON UNITS 139545 269010 X 14380852 18000 18000 14362852 3566 3566 14366418 17431770 0 17431770 0 17431770 PART X, LINE 2: COVENANT IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SIMILAR STATE PROVISIONS. COVENANT FILES AS A TAX-EXEMPT ORGANIZATION. MANAGEMENT IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE THE TAX-EXEMPT STATUS OF COVENANT. MANAGEMENT IS NOT AWARE OF ANY SIGNFICIANT ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME OR EXCISE OR OTHER TAXES FOR COVENANT. COVENANT FOLLOWS GUIDANCE IN THE INCOME TAX STANDARD REGARDING RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE GUIDANCE HAS NO IMPACT ON COVENANT'S FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: NET ASSETS RELEASED FROM RESTRICTION 18,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF PROPERTY AND EQUIPMENT -330. RESTRICTED CONTRIBUTIONS 50. RESTRICTED INVESTMENT INCOME 3,846. 0 0 0 0 0 0 0 0 0 E DALE MELTON CEO 209423 0 16190 0 0 0 13000 0 25086 0 263699 0 0 0 KEVIN STEWART HEALTH CENTER ADMINISTRATOR, RN 149646 0 0 0 0 0 15201 0 12265 0 177112 0 0 0 PAMELA PAIGE SENIOR DIRECTOR OF MARKETING & ADMIS 132853 0 0 0 0 0 27000 0 11408 0 171261 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION EMAILS THE FORM 990 TO MEMBERS OF THE EXECUTIVE-FINANCE COMMITTEE FOR REVIEW AND APPROVAL BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE CEO IS SET BY THE BOARD USING COMPARABLE DATA. THE CEO DETERMINES COMPENSATION OF OTHER KEY EMPLOYEES USING COMPARABLE DATA FROM LEADING AGE AND OTHER ORGANIZATIONS. ANNUAL REVIEWS ARE COMPLETED FOR ALL KEY EMPLOYEES BY THE CEO. THE CEO RECEIVES AND ANNUAL REVIEW BY THE BOARD. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST, EITHER MAILED OR EMAILED. FORM 990, PART XII, LINE 2C: THE AUDIT REVIEW PROCESS AND AUDITOR SELECTION PROCESS ARE UNCHANGED FROM THE PRIOR YEAR.