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← CHALMERS CENTER FOR ECONOMIC DEVELOPMENT AT COVENANT COLLEGE

Form 990 for tax year 2024

Filed by CHALMERS CENTER FOR ECONOMIC DEVELOPMENT AT COVENANT COLLEGE.

Totals

Total revenue
$4,097,011
Total expenses
$3,449,655
Contributions and grants received
$3,790,470
Grants paid
$193,242
Program service revenue
$273,010
Investment income
$0
Other revenue
$33,531
Total assets, end of year
$1,811,987
Total liabilities, end of year
$523,608
Net assets or fund balances, end of year
$1,288,379
Program services expenses (Part IX)
$2,279,970
Management and general expenses
$538,840
Fundraising expenses
$630,845
Program service expenses (Part III)
$2,279,970

Program services were 66.1% 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.

  • 1e · Government grants (contributions)

    $393,086

  • 1f · All other contributions, gifts and grants

    $3,397,384

  • 2a · Program service revenue: TRAINING COURSE INCOME

    total $261,311 · related or exempt $261,311

  • 2f · All other program service revenue

    total $11,699 · related or exempt $11,699

  • 5 · Royalties

    total $33,531 · excluded $33,531

Functional expenses

Part IX, the statement of functional expenses.

  • 3 · Grants to foreign organizations and individuals

    total $193,242 · program services $193,242

  • 5 · Compensation of officers, directors and key employees

    total $365,609 · program services $175,311 · management and general $19,517 · fundraising $170,781

  • 7 · Other salaries and wages

    total $1,154,366 · program services $898,035 · management and general $140,552 · fundraising $115,779

  • 8 · Pension plan contributions

    total $25,124 · program services $18,486 · management and general $3,145 · fundraising $3,493

  • 9 · Other employee benefits

    total $294,380 · program services $197,447 · management and general $48,766 · fundraising $48,167

  • 10 · Payroll taxes

    total $112,363 · program services $79,471 · management and general $12,439 · fundraising $20,453

  • 11b · Fees: legal

    total $15,697 · program services $11,207 · management and general $3,085 · fundraising $1,405

  • 11c · Fees: accounting

    total $21,892 · management and general $21,892

  • 11g · Fees: other

    total $561,411 · program services $386,803 · management and general $145,839 · fundraising $28,769

  • 12 · Advertising and promotion

    total $9,658 · program services $9,353 · management and general $305

  • 13 · Office expenses

    total $59,825 · program services $32,073 · management and general $13,219 · fundraising $14,533

  • 14 · Information technology

    total $191,053 · program services $44,396 · management and general $24,893 · fundraising $121,764

  • 16 · Occupancy

    total $159,497 · program services $98,462 · management and general $34,339 · fundraising $26,696

  • 17 · Travel

    total $163,472 · program services $70,034 · management and general $30,530 · fundraising $62,908

  • 19 · Conferences, conventions and meetings

    total $29,050 · program services $12,260 · management and general $9,948 · fundraising $6,842

  • 20 · Interest

    total $9,332 · program services $1,071 · management and general $8,056 · fundraising $205

  • 22 · Depreciation, depletion and amortization

    total $2,723 · program services $1,991 · management and general $351 · fundraising $381

  • 23 · Insurance

    total $12,690 · program services $9,321 · management and general $1,204 · fundraising $2,165

  • 24a · Other expenses: STAFF DEVELOPMENT

    total $29,166 · program services $17,006 · management and general $10,162 · fundraising $1,998

  • 24b · Other expenses: MEMBERSHIPS & DUES

    total $19,339 · program services $12,526 · management and general $3,601 · fundraising $3,212

  • 24c · Other expenses: MERCHANT PROCESSING FEE

    total $10,519 · program services $8,542 · management and general $1,977

  • 24d · Other expenses: BOARD OF DIRECTOR ACTIV

    total $4,786 · management and general $4,786

  • 24e · All other expenses

    total $4,461 · program services $2,933 · management and general $234 · fundraising $1,294

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $856,315 · end of year $427,901

  • 2 · Savings and temporary cash investments

    beginning of year $5,020 · end of year $1,026,317

  • 4 · Accounts receivable

    beginning of year $65,607 · end of year $57,931

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

    $328,710

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

    $328,710

  • 10c · Land, buildings and equipment, net

    beginning of year $2,724 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $299,838

  • 17 · Accounts payable and accrued expenses

    beginning of year $186,191 · end of year $207,406

  • 22 · Loans and payables to officers and key people

    beginning of year $102,452

  • 25 · Other liabilities

    beginning of year $0 · end of year $316,202

  • 27 · Net assets without donor restrictions

    beginning of year -$84,379 · end of year -$61,365

  • 28 · Net assets with donor restrictions

    beginning of year $725,402 · end of year $1,349,744

Mission and programs · 2024

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)

SEE SCHEDULE OTO 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 $1,391,381 · Revenue $99,234

  • 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 $451,308 · Revenue $152,911

  • 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 $437,281 · Grants $193,242 · Revenue $20,865

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Coy Buckley

    PRESIDENT, CEO, DIRECTOR

    Total calculated
    $122,724
    From this org
    $109,700
    From related orgs
    $0
    Other
    $13,024
    Hours/week
    40

  • Brian Fikkert

    FOUNDER, AMBASSADOR, DIRECTOR

    Total calculated
    $23,885
    From this org
    $23,885
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

  • Craig Stephenson

    SECRETARY, TREASURER, DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeff Galley

    DIRECTOR, BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Collin Messer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Brad Voyles

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jane Pleace

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Robert Turner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marc Antoine

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jonathan Mitchell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael Briggs

    CHIEF DEVELOPMENT OFFICER

    Total calculated
    $195,992
    From this org
    $160,803
    From related orgs
    $0
    Other
    $35,189
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,303
    Bonus
    $22,500
    Other
    $0
    Deferred
    $4,243
    Nontaxable benefits
    $30,946
    Filer's total
    $195,992

  • Rob Porter

    VP OF GENEROSITY

    Total calculated
    $153,474
    From this org
    $119,301
    From related orgs
    $0
    Other
    $34,173
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $119,301
    Bonus
    $0
    Other
    $0
    Deferred
    $3,672
    Nontaxable benefits
    $30,501
    Filer's total
    $153,474

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
MICHAEL BRIGGS RECEIVED INCENTIVE PAY IN THE FORM OF QUARTERLY RETENTION BONUSES TOTALING $22,500 FOR 2024.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
4 May 2026
IRS schema version
2024v5.5
Source object
202601249349301880

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