Covington Theological Seminary Inc

Nonprofit profile at a glance

EIN
581554537
IRS 990-EZ coverage
2018–2020
Forms available
Form 990 2017, Form 990-EZ 2020
Location
Rossville, GA, USA
Rating
55
Verdict
MIXED
Rating confidence
Moderate
Sector
Graduate, Professional Schools (Separate Entities)

Official website

Reported finances

Revenue
$155,696
Expenses
$155,780
Assets
$164,921
Liabilities
$59,236

Source: IRS Form 990-EZ. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • BRET M SULLIVAN (PRESIDENT)
  • JAMES SULLIVAN (PRESIDENT EMERITUS)
  • EDDIE RUSHING (INTERNL VICE PRESIDENT)
  • ROBERT CRAVEN (ALUMNI ASSN PRESIDENT)
  • MARVIN CORNELISON (EXECUTIVE VICE PRESIDENT)

People named in this filing

  • BRET M SULLIVAN (PRESIDENT)
  • GARY S FLEETWOOD JR (CHAIRMAN OF THE BOARD)
  • JAMES SULLIVAN (PRESIDENT EMERITUS)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Secondary education in bible & theology

What it reported doing in 2020

The students enrolled for credit in 2020 participatedin 11 extension sites, on-line courses and distancelearning courses.

Operating model

Revenue model
Earned-program. 94% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 41
  • Transparency & Controls: 82
  • Sustainability: 32
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 40.7%; rating input score 41
  • Program expense ratio: 40.7%; rating input score 41

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -0.1%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 1.06; rating input score 53; 53rd percentile among comparable filings
  • Liabilities to assets ratio: 0.36; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 23.1%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: -2.6% per year; rating input score 0; 29th percentile among comparable filings
  • Revenue growth: -13.5% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: -21.4% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 40.7% of revenue deployed · 40.7% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 2 filed program accomplishments · $63K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2018 to 2020
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 41/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 41/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 25/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 53/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.
  • High — Sustainability: Officer compensation ratio scored 21/100.