Covenant College
Covenant College reported $64.2 million in revenue and $63.7 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $87.22 went to program services, $7.89 to management and general costs and $4.89 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 80.0% of the total. The highest compensation it reported for one person was $358,626 (PRESIDENT). 24 people received more than $100,000 in reportable compensation. Revenue rose 27% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $64MFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $64MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 87.2% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 7.9% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 4.9% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.33 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 14.8% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.6% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 80.0% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $358,626 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.56% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 24 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 19.9 | 13.3 |
| Independent voting board members Part VI 1a–1b | 25 of 27 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseInstructional expenses: these expenses relate directly to the academic disciplines of the college. With approximately thirty majors, one master's programs, and more than fifty minors and concentrations, Covenant College provided nearly 900 students with a well-rounded liberal arts education while simultaneously preparing them for careers or advanced degrees in theology, medicine, business, art, music, engineering, education, psychology, international relations, and much more
Auxiliary enterprises and independent operations: the college's four residence halls, student apartments, and dining hall compose the auxiliary enterprises. While all of the halls offer a close, supportive community of students, each building has its own distinctive personality and each floor has its own identity and traditions. Additionally, the college hosts camps and conferences and has an onsite gift shop filled with covenant apparel, classroom supplies, snacks and other items. The camps and conferences as well as the gift shop are included in independent operations
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…
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT Officer, 40.00 hrs/week | $324,340 | $0 | $34,286 | $358,626 |
| VP FOR DEVELOPMENT/CCF PRES. Key employee, 20.00 hrs/week | $237,012 | $0 | $21,436 | $258,448 |
| EX. DIR. BROCK-BARNES CENTER FOR LEADERSHIP Highest compensated employee, 40.00 hrs/week | $179,391 | $0 | $29,803 | $209,194 |
| MAJOR GIFT OFFICER Highest compensated employee, 40.00 hrs/week | $179,531 | $0 | $21,650 | $201,181 |
| VICE PRESIDENT ACADEMIC AFFAIRS Highest compensated employee, 40.00 hrs/week | $149,342 | $0 | $20,644 | $169,986 |
| PROFESSOR OF THEOLOGICAL STUDIES Highest compensated employee, 40.00 hrs/week | $147,144 | $0 | $10,719 | $157,863 |
| PROFESSOR OF ECON. & COMMUNITY DEV. Highest compensated employee, 40.00 hrs/week | $115,452 | $0 | $22,155 | $137,607 |
| CONTROLLER Officer, 30.00 hrs/week | $114,985 | $0 | $9,390 | $124,375 |
24 people received more than $100,000 in reportable compensation from Covenant College (Part VII, line 2). Compensation of current officers, directors and key employees totaled $997K (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b27 · 25 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2Yes
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 51,018
- Volunteers Part I, line 627
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| CREATIVE DINING SERVICES INC Dining services | $4,198,189 |
| RSS-NASHVILLE INC Construction services | $432,865 |
| P & C CONSTRUCTION INC Construction services | $365,343 |
| SLATE & STONE CONSTRUCTION LLC Construction services | $296,435 |
| ANATOLE CONSTRUCTION COMPANY INC DBA ANA Construction services | $237,357 |
Individuals listed as contractors are left out. 18 contractors were paid more than $100,000 in all.
Private foundation grants it received
20 private foundations reported grants to Covenant College totaling $460K on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Covenant College's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Covenant College, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Covenant College spent in FY2025, $87.22 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Fisk UniversityNashville, TN · revenue $64M · programs 63.0% · FY2025
- Charlotte Latin SchoolsCharlotte, NC · revenue $64M · programs 82.6% · FY2025
- Asbury CollegeWilmore, KY · revenue $64M · programs 87.9% · FY2025
- Dallas College FoundationDallas, TX · revenue $64M · programs 89.6% · FY2025
- The Spence SchoolNew York, NY · revenue $64M · programs 84.3% · FY2025
Questions people ask
How much of Covenant College's spending goes to programs?
In the fiscal year ending June 30, 2025, Covenant College reported that 87.2% of its $63.7 million in expenses went to program services, 7.9% to management and general and 4.9% to fundraising (Form 990, Part IX).
How much does Covenant College pay its top executive?
The largest total compensation Covenant College reported for one person in the fiscal year ending June 30, 2025 was $358,626, for the role of PRESIDENT (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Covenant College get its money?
Of $64.2 million in revenue in the fiscal year ending June 30, 2025, 14.8% came from contributions and grants (including 0.6% from government grants) and 80.0% from program service revenue (Form 990, Part VIII).
Is Covenant College a registered charity?
The IRS lists EIN 43-0719506 as a 501(c)(3) organization (school), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202641339349307444 · read the filing
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202511269349301841 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202410819349301111 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202331319349305263 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202210949349300721 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202121379349304277 · read the filing
All filings for EIN 43-0719506: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.