Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 1957.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
87 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
36 people listed on the 990; $1.5M paid to officers and key staff.
Dr Brad Voyles’s $324K as President is at the 69th percentile of top reported officer pay among 3683 $10–100M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Dr Brad Voyles | $324,340 | $205,995 | $134,542 | — | — | — |
| Dr J Derek Halvorson | $179,391 | $261,694 | $270,382 | $282,529 | $270,706 | $253,548 |
| Marc Erickson | $237,012 | $196,943 | $189,095 | $199,906 | $178,723 | $142,821 |
| Jeff Sandhoff | $179,531 | $158,910 | $158,936 | $142,290 | $115,944 | $131,352 |
| Hugh Messer | $149,342 | $166,992 | — | — | — | — |
| Dr Kelly Kapic | $147,144 | — | $112,899 | — | — | — |
| Fred Verwoerd | — | — | $122,033 | $126,840 | $140,000 | $143,524 |
| Jeff Hall | — | — | — | $133,760 | $134,873 | $129,898 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2Yes
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Offers Christ-centered higher education services.
Questions for Covenant College INC
Your first name shows with your question. Covenant College INC answers here, for everyone.
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Instructional 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…
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.
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.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2025 990, line by line.
Download 990
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.5M | $2.5M |
| InvestmentsLn 11–13 | $46.6M | $51.8M |
| Land, buildings, equipmentLn 10c | $52.7M | $55.1M |
| Total assetsLn 16 | $102.2M | $111.5M |
| LiabilitiesLn 26 | $2.3M | $5.8M |
| Net assetsLn 32 | $99.9M | $105.7M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $8K | $8K | ||
| Grants to domestic individualsLn 2 | $25.6M | $25.6M | ||
| Pay of current officers, directors and key staffLn 5 | $997K | $123K | $751K | $123K |
| Pay of disqualified personsLn 6 | $408K | $304K | $75K | $29K |
| Other salaries and wagesLn 7 | $15.8M | $12.9M | $1.3M | $1.6M |
| Pension plan contributionsLn 8 | $207K | $166K | $21K | $20K |
| Other employee benefitsLn 9 | $3.1M | $2.2M | $329K | $490K |
| Payroll taxesLn 10 | $1.1M | $858K | $145K | $112K |
| Legal feesLn 11b | $45K | $14K | $31K | |
| Accounting feesLn 11c | $165K | $165K | ||
| Investment management feesLn 11f | $227K | $227K | ||
| Other fees for servicesLn 11g | $1.6M | $1.2M | $366K | $7K |
| Advertising and promotionLn 12 | $446K | $200K | $168K | $78K |
| Office expensesLn 13 | $1.5M | $1.1M | $308K | $138K |
| Information technologyLn 14 | $828K | $393K | $433K | $2K |
| OccupancyLn 16 | $1.9M | $1.6M | $234K | $32K |
| TravelLn 17 | $1.6M | $1.2M | $57K | $282K |
| Conferences, conventions and meetingsLn 19 | $242K | $149K | $28K | $65K |
| InterestLn 20 | $42K | $42K | ||
| Depreciation, depletion and amortizationLn 22 | $3.2M | $3.0M | $153K | $22K |
| InsuranceLn 23 | $182K | $150K | $31K | |
| Other expenses (24a–d)Ln 24 | $4.2M | $4.1M | $60K | $40K |
| All other expensesLn 24e | $412K | $265K | $121K | $27K |
| Total functional expensesLn 25 | $63.7M | $55.6M | $5.0M | $3.1M |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest Viewing | $64.2M | $63.7M | $518K | $105.7M | 990 PDF |
| FY2024 | $55.5M | $57.8M | −$2.3M | $99.9M | 990 PDF |
| FY2023 | $49.7M | $53.2M | −$3.6M | $97.0M | 990 PDF |
| FY2022 | $54.1M | $51.8M | $2.2M | $98.2M | 990 PDF |
| FY2021 | $47.4M | $47.5M | −$114K | $102.6M | 990 PDF |
| FY2020 | $50.7M | $48.1M | $2.6M | $94.6M | 990 PDF |
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Schedules filed Part IV
See the full FY2025 990 (6 parts)
Part I · Summary $64,216,350 revenue, 12 lines filed
Part VI · Governance 25 of 27 board members independent, 1 to look at
Part VIII · Statement of revenue $64,216,350 across 13 lines filed
Part IX · Statement of functional expenses $63,698,057 across 23 lines filed
Part X · Balance sheet $111,491,306 assets, 17 lines filed
Part XI · Reconciliation of net assets $105,671,758 net assets at year end
Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File
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