Covenant College Foundation
Legal name: Covenant College Foundation Inc
Nonprofit profile at a glance
- EIN
- 273298736
- IRS 990 coverage
- 2011–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Lookout Mountain, Georgia, US
- Phone
- 706.820.1560
- Rating
- 67
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $2,195,584
- Expenses
- $1,532,350
- Assets
- $25,656,087
- Liabilities
- $271,097
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
19 people listed
Executive titles in this filing
- MARC ERICKSON (PRESIDENT/EXECUTIVE DIRECTOR)
Highest reported compensation
- BRAD VOYLES (TRUSTEE): $358,626 total reported compensation
- MARC ERICKSON (PRESIDENT/EXECUTIVE DIRECTOR): $258,448 total reported compensation
- MARK HUFFINES (ASSISTANT TREASURER): $124,375 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The Covenant College Foundation is the planned-giving arm of Covenant College. One of our main goals is to help you make a gift that will benefit you, your family, and the college.
What it reported doing in 2024
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.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
The verdict
SUPPORTED - The filed numbers largely add up and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 57
- Transparency & Controls: 60
- Accountability: 87
- Sustainability: 83
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 65.9%; rating input score 66
- Program expense ratio: 58.3%; rating input score 58
- Fundraising efficiency: $2.78 raised per $1 spent on fundraising; rating input score 8; 8th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Scored; rating input score 0
- Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 93.3%; rating input score 93; 24th percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 30.2%; rating input score 84; 84th percentile among comparable filings
- Total-asset coverage ratio: 16.74; rating input score 95; 95th percentile among comparable filings
- Liabilities to assets ratio: 0.01; rating input score 85; 85th percentile among comparable filings
- Officer compensation ratio: 6%; rating input score 47; 47th percentile among comparable filings
Growth
- Program expense growth: 8.4% per year; rating input score 100; 58th percentile among comparable filings
- Revenue growth: 11.3% per year; rating input score 100; 73rd percentile among comparable filings
- Asset growth: 9.2% per year; rating input score 100; 55th percentile among comparable filings
Details
- What they do: 1 programs and campaigns described on the official site
- Where the money goes: 65.9% of revenue deployed · 58.3% of spending went to programs
- Governance: 14 of 15 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $894K in reported program spending
- Leadership: top reported pay $359K · 19 people listed · 0 of 6 pay-setting controls reported
- Consistency: 30 of 30 current checks pass
- Schedules: 8 filed schedules · includes major donors, foreign activity, grants, and executive pay
- Filing history: 14 filing years from 2011 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 2 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- Review — Financial Efficiency: Program expense ratio scored 58/100.
- High — Transparency & Controls: Foreign activity oversight scored 0/100.
- High — Financial Efficiency: Fundraising efficiency scored 8/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- Moderate — Sustainability: Officer compensation ratio scored 47/100.