2024-11-15T12:58:52-06:00 2024-06-30 540618213 HANTZMON WIEBEL LLP PO BOX 1408 CHARLOTTESVILLE VA 22902 990 2023-07-01 541274746 THE COVENANT SCHOOL INC COVE 4342207329 175 HICKORY STREET CHARLOTTESVILLE VA 22902 FRANK BERRY CFO & COO 4342207329 2024-11-15 1 0 TRAVIS W SIMPSON P00481332 4342962156 2023 2024-10-15 13:58:12Z MR FRANK BERRY 175 HICKORY STREET CHARLOTTESVILLE VA 22902 18206081 0 X WWW.COVENANTSCHOOL.ORG X 1985 VA PROMOTE THE MORAL, INTELLECTUAL, AND PHYSICAL DEVELOPMENT OF YOUNG PEOPLE. (SEE SCHEDULE O) 13 13 243 248 0 0 1318860 1129759 14429245 16636282 3604 103631 145258 112808 15896967 17982480 2888585 3679434 0 0 9019141 9875010 0 0 315123 2848987 3253106 14756713 16807550 1140254 1174930 15683412 16586256 7305175 7011794 8378237 9574462 X THE COVENANT SCHOOL SEEKS TO PROMOTE THE MORAL, INTELLECTUAL, AND PHYSICAL DEVELOPMENT OF YOUNG PEOPLE. WE FOSTER THE VIRTUES OF FAITH, WISDOM, AND LOVE THROUGH THE PURSUIT OF ACADEMIC EXCELLENCE AND THE RECOGNITION OF GOD'S SOVEREIGNTY OVER HIS CREATION.(CONT.-SCHEDULE O) WE NURTURE OUR STUDENTS, CHALLENGING THEM TO FOLLOW THE EXAMPLE OF JESUS CHRIST, TO ACHIEVE THROUGH SELF-DISCIPLINE, TO LEAD BY SERVICE TO OTHERS, AND TO GROW IN KNOWLEDGE AND VIRTUE. 0 0 10777337 16682089 THE COVENANT SCHOOL IS AN INDEPENDENT CHRISTIAN SCHOOL PROVIDING EDUCATIONAL SERVICE TO APPROXIMATELY 735 STUDENTS GRADES PRE-KINDERGARTEN THROUGH 12TH GRADE. 3679434 3679434 FINANCIAL ASSISTANCE (FINANCIAL AID AND SCHOLARSHIPS) WAS PROVIDED TO 323 STUDENTS DURING THE ACADEMIC YEAR. 14456771 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 35 0 243 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X THE ORGANIZATION 4342207329 175 HICKORY STREET CHARLOTTESVILLE VA 22902 MR WILLIAM FULKERSON EX-OFFICIO DIRECTOR 4.00 X 0 0 0 MR JEFF BLOXSOM DIRECTOR 4.00 X 0 0 0 MRS NANCY BRIGGS DIRECTOR 4.00 X 0 0 0 MR ERIC HEINSOHN CHAIR 10.00 X X 0 0 0 MRS SARAH HUTCHINSON DIRECTOR 4.00 X 0 0 0 MR STEVEN LUCK VICE CHAIR 4.00 X X 0 0 0 MR PIERRE POINDEXTER DIRECTOR 4.00 X 0 0 0 MR JUSTIN SMITH DIRECTOR 4.00 X 0 0 0 MR JAY TAGGART TREASURER 4.00 X X 0 0 0 MRS DANIELLE WILCOX SECRETARY 4.00 X X 0 0 0 MR BRIAN CULLATY DIRECTOR 4.00 X 0 0 0 MRS CLAIRE GRIFFIN DIRECTOR 4.00 X 0 0 0 MRS LAUREN BYRNE DIRECTOR 4.00 X 0 0 0 MR BRADLEY R BAGGETT HEAD OF SCHOOL 45.00 X 266202 0 52557 MR FRANK BERRY CFO/COO 45.00 X 168400 0 24206 MRS WENDY HILL DIRECTOR OF ACCOUNTING 45.00 X 116434 0 5779 MR COLIN ANDERSON DEAN OF FACULTY 40.00 X 118490 0 66018 MR BRYAN R VERBRUGGE THEOLOGY DEPARTMENT CHAIR 40.00 X 111863 0 5578 MR SPENCER BURTON MIDDLE SCHOOL DIRECTOR 40.00 X 110315 0 39618 MR JOHN BARR ADVANCMENT DIRECTOR 40.00 X 100942 0 10947 992646 0 204703 8 0 1 0 SOUTHERN AIR INC PO BOX 4205 LYNCHBURG VA 24502 HVAC INSTALLATION 409580 BBX CORPORATION 201 EAST LAS OLAS BOULEVARD SUITE FORT LAUDERDALE FL 33301 CONSTRUCTION 235500 NEVCO SPORTS LLC 301 E HARRIS AVE GREENVILLE IL 62246 SCOREBOARDS 140305 TIMBERSTONE GROUP LLC 151 STARLITE PARK TROY VA 22974 CONSTRUCTION 117000 GILBERT INVESTMENT GROUP LLC 2851 EAST BRIGSTOCK ROAD MIDLOTHIAN VA 23113 JANITORIAL/CUSTODIAL 101815 5 30063 1099696 55605 1129759 TUITION & FEES 611600 15803609 15803609 AUXILIARY INCOME 611600 832673 832673 16636282 103631 103631 49643 0 49643 49643 49643 113821 96463 17358 17358 172945 127138 45807 45807 17982480 16682089 0 170632 3679434 3679434 498907 255843 193173 49891 7916830 6651562 1095194 170074 235621 191018 38100 6503 618635 498867 102322 17446 605017 496581 92622 15814 13733 13733 42416 42416 2450 2450 31337 27775 1462 2100 252256 120265 117461 14530 91199 40750 36262 14187 539651 529673 9104 874 41791 41200 591 185194 181601 3278 315 901638 884087 15983 1568 127240 69982 50896 6362 SPECIAL EVENTS/ACTIVITI 396026 384322 5743 5961 ATHLETICS 118680 118021 659 SUBCONTRACT LABOR 82416 37974 43542 900 427079 247816 171915 7348 16807550 14456771 2035656 315123 300 300 1649137 2733043 658381 342479 9140 28681 63660 55197 149844 189371 25613379 13197309 12082743 12416070 1070207 821115 15683412 16586256 764744 936849 1605873 1506320 4890843 4553826 43715 14799 7305175 7011794 X 7392649 9096633 985588 477829 8378237 9574462 15683412 16586256 X 1174930 21295 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 556783 24900 62243 30063 395 613468 515381 18205 50512 27243 72 556783 599554 17373 -69591 31890 65 515381 477225 28944 121736 28204 147 599554 528280 8312 -31018 28175 174 477225 0.00000 1.00000 0.00000 0 1 1 336529 336529 22541097 11039593 11501504 2735753 2157716 578037 12416070 ACCRUED INTEREST 14799 14799 X 14451479 148433 148433 14303046 3679434 3679434 17982480 13255254 127138 127138 13128116 3679434 3679434 16807550 PART V, LINE 4: TO PROVIDE FINANCIAL AID SUPPORT FOR NEED BASED FAMILIES OF THE COVENANT SCHOOL, INC. PART X, LINE 2: THE SCHOOL HAS REVIEWED AND EVALUATED THE RELEVANT TECHNICAL MERITS OF EACH OF ITS TAX POSITIONS IN ACCORDANCE WITH GUIDANCE ESTABLISHED BY THE FINANCIAL ACCOUNTING STANDARDS BOARD AND DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT WOULD HAVE A MATERIAL IMPACT ON THE CONSOLIDATED FINANCIAL STATEMENTS OF THE SCHOOL. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUATION OF INTEREST RATE SWAP 21,295. COST OF GOODS SOLD INCLUDED IN REVENUE 127,138. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 3,679,434. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD INCLUDED IN REVENUE 127,138. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 3,679,434. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL'S NON-DISCRIMINATION POLICY IS CLEARLY IDENTIFIED IN ALL BROCHURES USED IN RECRUITING STUDENTS. IT ALSO APPEARS IN ALL PAID NEWSPAPER AND MAGAZINE ADVERTISEMENTS. AUCTION 113821 113821 36000 9264 30525 1644 19030 113821 113821 36000 9264 30525 1644 19030 96463 17358 1 TUITION REDUCTIONS - FINANCIAL AID 323 3679434 BOOK VALUE - COST THE SCHOOL PROVIDED NON-CASH FINANCIAL AID TO STUDENTS IN THE FORM OF REDUCED TUITION. PART I, LINE 2: THE SCHOOL'S BUSINESS OFFICE MAINTAINS RECORDS SUPPORTING THE SELECTION CRITERIA USED TO AWARD SCHOLARSHIPS AND FINANCIAL AID, WHICH ALSO INCLUDE THE AMOUNTS AWARDED AND RECIPIENT NAMES. X X X X 0 0 0 0 0 0 0 0 0 MR BRADLEY R BAGGETT HEAD OF SCHOOL 266202 0 0 0 0 0 0 0 52557 0 318759 0 0 0 MR FRANK BERRY CFO/COO 168400 0 0 0 0 0 9472 0 14734 0 192606 0 0 0 MR COLIN ANDERSON DEAN OF FACULTY 118490 0 0 0 0 0 5918 0 60100 0 184508 0 0 0 A ECONOMIC DEVELOPMENT AUTHORITY OF ALBEMARLE COUNTY VIRGINIA 521297503 NONEAVAIL 2013-04-04 7250000 SEE SCHEDULE O 0 0 0 A 2696174 7250000 600000 7250000 2003 1 0 0 1 A 0 0 0 1 1 1 TRUIST BANK 20.000000000000 0 0 0 0 1 A 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: ECONOMIC DEVELOPMENT AUTHORITY OF ALBEMARLE COUNTY, VIRGINIA DATE THE REBATE COMPUTATION WAS PERFORMED: 03/31/2023 X 10 55605 QUOTED MARKET VALUES 0 1 1 PART I, COLUMN (B): THE NUMBER IN COLUMN B REPRESENTS THE NUMBER OF ACTUAL CONTRIBUTORS. PART I, LINE 32B: THE SCHOOL USES AN INVESTMENT BROKER TO LIQUIDATE DONATED PUBLICLY TRADED SECURITIES CONTRIBUTED DURING THE YEAR. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE SCHOOL'S AUDIT COMMITTEE WITH EXTERNAL AUDITORS UPON COMPLETION OF THE AUDITED FINANCIAL STATEMENTS. THE AUDIT COMMITTEE THEN REPORTS THE FORM 990 TO THE FINANCE COMMITTEE. ONCE REVIEWED BY THE FINANCE COMMITTEE, EACH VOTING MEMBER OF THE BOARD IS PROVIDED WITH A FINAL VERSION OF FORM 990. AFTERWARDS, THE FORM 990 IS FILED AND MADE AVAILABLE FOR PUBLIC INSPECTION. FORM 990, PART VI, SECTION B, LINE 12C EACH BOARD MEMBER IS MADE AWARE OF THE WRITTEN CONFLICT OF INTEREST POLICY. POTENTIAL CONFLICTS OF INTERESTS ARE REQUIRED TO BE DISCLOSED AT THE EARLIEST PRACTICABLE TIME. NO BOARD MEMBER SHALL VOTE ON ANY MATTER IN WHICH SUCH BOARD MEMBER HAS A CONFLICT OF INTEREST. ANY BOARD MEMBER, WHO IS UNCERTAIN WHETHER A CONFLICT OF INTERESTS EXISTS, MAY REQUEST THE BOARD TO MAKE A DETERMINATION REGARDING THE EXISTENCE OF A CONFLICT OF INTEREST, AND THE BOARD SHALL RESOLVE THE QUESTION BY A MAJORITY VOTE. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS REVIEW THE BUDGET AND OVERALL COMPENSATION PLAN. THE PLAN IS BASED ON CERTAIN PARAMETERS SET DURING THE BUDGET PROCESS. THE COMPENSATION PLAN IS GOVERNED BY A WRITTEN EMPLOYMENT AGREEMENT. FORM 990, PART VI, SECTION C, LINE 18 THE SCHOOL'S FORM 990 CAN BE DISTRIBUTED TO THE PUBLIC UPON REQUEST. HOWEVER, ALL REQUESTS ARE SUBJECT TO THE APPROVAL OF THE HEAD OF SCHOOL AND THE SCHOOL'S CONSIDERATION OF THE INTENDED USE OF THE DOCUMENTS. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS CAN BE DISTRIBUTED TO THE PUBLIC UPON REQUEST. HOWEVER, ALL REQUESTS ARE SUBJECT TO THE APPROVAL OF THE HEAD OF SCHOOL AND THE SCHOOL'S CONSIDERATION OF THE INTENDED USE OF THE DOCUMENTS. FORM 990, PART XI, LINE 9: CHANGE IN VALUATION OF INTEREST RATE SWAP 21,295. FORM 990, PART XII, LINE 2C: THE SCHOOL HAS AN AUDIT COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT. SCHEDULE K PART 1, LINE A, COLUMN (F): THE ECONOMIC DEVELOPMENT AUTHORITY OF ALBEMARLE COUNTY, VIRGINIA'S VARIABLE RATE REVENUE REFUNDING BONDS (THE COVENANT SCHOOL, INC.), SERIES 2013 (THE "SERIES 2013 BONDS") WERE ISSUED TO REFUND THE OUTSTANDING PRINCIPAL AMOUNT OF THE ECONOMIC DEVELOPMENT AUTHORITY OF ALBEMARLE COUNTY, VIRGINIA'S VARIABLE RATE EDUCATIONAL FACILITIES REVENUE BONDS (THE COVENANT SCHOOL, INC.), SERIES 2001 (THE "SERIES 2001 BONDS"), WHICH WERE ORIGINALLY ISSUED ON APRIL 26, 2001. THE PROCEEDS OF THE SERIES 2001 BONDS WERE USED FOR THE ACQUISITION, CONSTRUCTION, AND EQUIPPING OF AN UPPER SCHOOL EDUCATIONAL FACILITY IN ALBEMARLE COUNTY, VIRGINIA. THE COVENANT ENDOWMENT FUND 175 HICKORY STREET CHARLOTTESVILLE VA 22902 861226662 RECEIPT AND MANAGEMENT OF ENDOWED FUNDS TO SUPPORT THE COVENANT SCHOOL VA 501(C)(3) 12A THE COVENANT SCHOOL 1 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 NA - NO TRANSACTION IN EXCESS OF 50000