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← CHALMERS CENTER FOR ECONOMIC DEVELOPMENT AT COVENANT COLLEGE

Form 990 for tax year 2023

Filed by CHALMERS CENTER FOR ECONOMIC DEVELOPMENT AT COVENANT COLLEGE.

Totals

Total revenue
$3,773,966
Total expenses
$3,264,508
Contributions and grants received
$3,339,640
Grants paid
$198,535
Program service revenue
$399,100
Investment income
$0
Other revenue
$35,226
Total assets, end of year
$929,666
Total liabilities, end of year
$288,643
Net assets or fund balances, end of year
$641,023
Program services expenses (Part IX)
$2,192,792
Management and general expenses
$437,340
Fundraising expenses
$634,376
Program service expenses (Part III)
$2,192,792

Program services were 67.2% 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

    $3,339,640

  • 2a · Program service revenue: Training Course Income

    total $399,002 · related or exempt $399,002

  • 2f · All other program service revenue

    total $98 · related or exempt $98 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $35,226 · related or exempt $35,226

  • 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 $198,535 · program services $198,535

  • 5 · Compensation of officers, directors and key employees

    total $61,579 · program services $7,943 · management and general $13,140 · fundraising $40,496

  • 6 · Compensation of disqualified persons

    total $58,762 · fundraising $58,762

  • 7 · Other salaries and wages

    total $1,380,995 · program services $991,276 · management and general $113,315 · fundraising $276,404

  • 8 · Pension plan contributions

    total $32,261 · program services $20,060 · management and general $2,386 · fundraising $9,815

  • 9 · Other employee benefits

    total $378,727 · program services $262,994 · management and general $35,209 · fundraising $80,524

  • 10 · Payroll taxes

    total $111,791 · program services $74,549 · management and general $9,332 · fundraising $27,910

  • 11b · Fees: legal

    total $25,947 · program services $5,648 · management and general $20,299

  • 11c · Fees: accounting

    total $87,296 · management and general $87,296

  • 11g · Fees: other

    total $458,676 · program services $356,325 · management and general $83,232 · fundraising $19,119

  • 12 · Advertising and promotion

    total $5,123 · program services $5,123

  • 13 · Office expenses

    total $59,506 · program services $36,647 · management and general $5,808 · fundraising $17,051

  • 14 · Information technology

    total $77,869 · program services $42,711 · management and general $11,446 · fundraising $23,712

  • 16 · Occupancy

    total $52,432 · program services $28,739 · management and general $10,668 · fundraising $13,025

  • 17 · Travel

    total $164,095 · program services $91,833 · management and general $25,678 · fundraising $46,584

  • 19 · Conferences, conventions and meetings

    total $53,448 · program services $45,100 · management and general $2,521 · fundraising $5,827

  • 20 · Interest

    total $2,452 · management and general $2,452

  • 22 · Depreciation, depletion and amortization

    total $5,908 · program services $4,413 · management and general $720 · fundraising $775

  • 23 · Insurance

    total $13,205 · program services $9,210 · management and general $1,354 · fundraising $2,641

  • 24a · Other expenses: Other

  • 24e · All other expenses

    total $35,901 · program services $11,686 · management and general $12,484 · fundraising $11,731

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $230,551 · end of year $856,315

  • 2 · Savings and temporary cash investments

    end of year $5,020

  • 4 · Accounts receivable

    beginning of year $35,833 · end of year $65,607

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $12,333

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

    $328,710

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

    $325,986

  • 10c · Land, buildings and equipment, net

    beginning of year $8,632 · end of year $2,724

  • 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 $127,070 · end of year $186,191

  • 19 · Deferred revenue

    beginning of year $28,714

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $102,452

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year -$82,812 · end of year -$84,379

  • 28 · Net assets with donor restrictions

    beginning of year $214,377 · end of year $725,402

Mission and programs · 2023

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 $1,250,189 · Revenue $213,335

  • 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 $512,135 · Grants $198,535 · Revenue $28,623

  • 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 $430,468 · Revenue $192,368

As filed on the 2023 return.

Listed in Part VII

  • Brian Fikkert

    Founder, Ambassador, President (Part Year), Director

    Total calculated
    $27,692
    From this org
    $27,692
    From related orgs
    $0
    Other
    $0
    Hours/week
    32

  • Coy Buckley

    President, CEO, Director

    Total calculated
    $0
    Hours/week
    40

  • Craig Stephenson

    Secretary, Treasurer, Director

    Total calculated
    $0
    Hours/week
    1

  • Brad Voyles

    Director

    Total calculated
    $0
    Hours/week
    1

  • Collin Messer

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jane Pleace

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jonathan Mitchell

    Director

    Total calculated
    $0
    Hours/week
    1

  • Karen Ellis

    Director (Part-Year)

    Total calculated
    $0
    Hours/week
    1

  • Marc Antoine

    Director

    Total calculated
    $0
    Hours/week
    1

  • Robert Turner

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jeff Galley

    Director, Board Chair

    Total calculated
    $0
    Hours/week
    1

  • Kevin O'Neal

    Chief Operating Officer

    Total calculated
    $26,830
    From this org
    $26,830
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Michael Briggs

    Chief Development Officer

    Total calculated
    $165,439
    From this org
    $133,660
    From related orgs
    $0
    Other
    $31,779
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $121,160
    Bonus
    $12,500
    Other
    $0
    Deferred
    $1,731
    Nontaxable benefits
    $30,048
    Filer's total
    $165,439

  • Rob Porter

    VP of Generosity

    Total calculated
    $142,447
    From this org
    $118,880
    From related orgs
    $0
    Other
    $23,567
    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. 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)

Schedule J, Part I, Line 7 Non-fixed payments
Michael Briggs received incentive pay in the form of quarterly retention bonuses totaling $12,500 for 2023

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
2023
Filed
12 February 2025
IRS schema version
2023v6.0
Source object
202520439349301457

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