Covenant College and Supporting Foundation
Consolidated Statement of Activities
Year Ended June 30, 2011
| Revenues | Total | |||
|---|---|---|---|---|
| Tuition and fees, less tuition discounts of $11,131,167 | $14,874,484 | |||
| Gifts | 3,323,647 | |||
| Auxiliary income | 5,626,926 | |||
| Independent operations | 935,161 | |||
| Net realized and unrealized gains on investments | 4,093,787 | |||
| Interest and dividend income | 693,872 | |||
| Other income | 367,739 | |||
| Government and private grants | 588,678 | |||
| Total revenues, gains and other support | 30,504,294 | |||
| Expenses | Total | |||
| Instructional | 8,436,381 | |||
| Academic support | 1,763,792 | |||
| Student services | 5,353,763 | |||
| Institutional support | 3,278,758 | |||
| Scholarships | 718,354 | |||
| Library | 829,118 | |||
| Public service | 902,214 | |||
| Auxiliary services | 3,574,477 | |||
| Independent operations | 1,132,318 | |||
| Fund-raising | 1,900,953 | |||
| Total Expenses |
27,890,128 | |||
| Change in net assets from operating | 2,614,166 | |||
| Change in net assets | 2,614,166 | |||
| Net assets, beginning of year | 68,632,569 | |||
| Net assets, end of year |
$71,246,735 |