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← CHALMERS CENTER FOR ECONOMIC DEVELOPMENT AT COVENANT COLLEGE

Form 990 for tax year 2022

Filed by CHALMERS CENTER FOR ECONOMIC DEVELOPMENT AT COVENANT COLLEGE.

Totals

Total revenue
$2,658,963
Total expenses
$3,101,276
Contributions and grants received
$2,310,766
Grants paid
$183,353
Program service revenue
$318,425
Investment income
$0
Other revenue
$29,772
Total assets, end of year
$287,349
Total liabilities, end of year
$155,784
Net assets or fund balances, end of year
$131,565
Program services expenses (Part IX)
$2,174,877
Management and general expenses
$363,118
Fundraising expenses
$563,281
Program service expenses (Part III)
$2,174,877

Program services were 70.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $2,310,766

  • 2a · Program service revenue: Training Course Income

    total $318,265 · related or exempt $318,265

  • 2f · All other program service revenue

    total $160 · related or exempt $160 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $29,772 · related or exempt $29,772

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 3 · Grants to foreign organizations and individuals

    total $183,353 · program services $183,353

  • 5 · Compensation of officers, directors and key employees

    total $244,947 · program services $163,639 · management and general $40,025 · fundraising $41,283

  • 6 · Compensation of disqualified persons

    total $93,730 · fundraising $93,730

  • 7 · Other salaries and wages

    total $1,207,761 · program services $897,749 · management and general $120,489 · fundraising $189,523

  • 8 · Pension plan contributions

    total $28,792 · program services $21,424 · management and general $1,901 · fundraising $5,467

  • 9 · Other employee benefits

    total $340,608 · program services $241,507 · management and general $56,874 · fundraising $42,227

  • 10 · Payroll taxes

    total $107,651 · program services $73,929 · management and general $12,042 · fundraising $21,680

  • 11b · Fees: legal

    total $1,439 · program services $714 · management and general $725

  • 11c · Fees: accounting

    total $28,192 · management and general $28,192

  • 11g · Fees: other

    total $475,207 · program services $335,088 · management and general $52,629 · fundraising $87,490

  • 12 · Advertising and promotion

    total $13,629 · program services $13,629

  • 13 · Office expenses

    total $38,472 · program services $27,757 · management and general $5,062 · fundraising $5,653

  • 14 · Information technology

    total $82,090 · program services $50,274 · management and general $14,315 · fundraising $17,501

  • 16 · Occupancy

    total $35,262 · program services $24,606 · management and general $5,601 · fundraising $5,055

  • 17 · Travel

    total $90,913 · program services $51,828 · management and general $8,341 · fundraising $30,744

  • 19 · Conferences, conventions and meetings

    total $41,763 · program services $32,121 · management and general $3,655 · fundraising $5,987

  • 22 · Depreciation, depletion and amortization

    total $6,477 · program services $4,540 · management and general $1,004 · fundraising $933

  • 23 · Insurance

    total $13,754 · program services $9,555 · management and general $1,810 · fundraising $2,389

  • 24e · All other expenses

    total $67,236 · program services $43,164 · management and general $10,453 · fundraising $13,619

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $497,680 · end of year $230,551

  • 3 · Pledges and grants receivable

    beginning of year $150,000

  • 4 · Accounts receivable

    beginning of year $32,353 · end of year $35,833

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,000 · end of year $12,333

  • 10a · Land, buildings and equipment: cost or other basis

    $328,710

  • 10b · Land, buildings and equipment: accumulated depreciation

    $320,078

  • 10c · Land, buildings and equipment, net

    beginning of year $15,108 · end of year $8,632

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $124,263 · end of year $127,070

  • 19 · Deferred revenue

    end of year $28,714

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $109,576 · end of year -$82,812

  • 28 · Net assets with donor restrictions

    beginning of year $464,302 · end of year $214,377

Mission and programs · 2022

Mission

The Chalmers Center equips the Church to address the broken relationships at the root of material poverty, living out Jesus' Kingdom today. We seek to communicate God's redeeming story and how it relates to poverty alleviation, enabling people who are materially poor to enjoy reconciled relationships with God, self, others, and the rest of creation.

Activities or mission (Part I)

To help God's people rethink poverty and respond with practical Biblical principles so that all are restored to flourishing.

  • Foundational Principles and Innovation - Through books, online courses, speaking engagements, and the Ambassadors program, the Chalmers framework equips churches, Christian nonprofits, and individual Christians to understand and address the root causes of material poverty. Through Innovation, Christian leaders are equipped to develop poverty alleviation ministry that foster real change.

    Expenses $1,249,634 · Revenue $159,936

  • West Africa Program and International Program: Training local leaders in economic development strategies in West African countries and beyond, specifically savings-led microfinance groups in local churches; developing of materials for use by high impact partners and denominational leaders.

    Expenses $475,169 · Grants $183,353 · Revenue $58,353

  • Faith and Finances and Work Life: Developing curriculum in financial education, individual development accounts, and job preparedness for local churches and Christian noprofits, equipping them to impact low-income populations. Including the development and deployment of online curriculum for these courses.

    Expenses $450,074 · Revenue $129,908

As filed on the 2022 return.

Listed in Part VII

  • Brian Fikkert

    Founder and President

    Total calculated
    $45,000
    From this org
    $45,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    32

  • Craig Stephenson

    Secretary and Interim Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Collin Messer

    Chief Academic

    Total calculated
    $0
    Hours/week
    1

  • Derek Halvorson

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jane Pleace

    Director

    Total calculated
    $0
    Hours/week
    1

  • Karen Ellis

    Director

    Total calculated
    $0
    Hours/week
    1

  • Nat Belz

    Director (Part-Year)

    Total calculated
    $0
    Hours/week
    1

  • Neddie Winters

    Director (Part-Year)

    Total calculated
    $0
    Hours/week
    1

  • Jeff Galley

    Board Chair

    Total calculated
    $0
    Hours/week
    1

  • Kevin O'Neal

    Chief Operating Officer

    Total calculated
    $49,192
    From this org
    $49,192
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Michael Briggs

    Executive Director

    Total calculated
    $144,199
    From this org
    $115,637
    From related orgs
    $0
    Other
    $28,562
    Hours/week
    40

  • Rob Porter

    Vice President of Generosity

    Total calculated
    $137,809
    From this org
    $108,328
    From related orgs
    $0
    Other
    $29,481
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202313179349306191

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