2023-2024 ANNUAL REPORT
FROM THE Head of School
A CELEBRATION OF GENEROSITY
Dear Covenant Day Families, Alumni, and Friends:
In 1989, Covenant Day began with the mission of educating students with a biblical worldview and academic excellence. Today, we continue that same mission and vision as we work to transform hearts and minds for the glory of Jesus Christ. We could not accomplish this without the help of our generous donors. I have been privileged to see almost three decades of generous giving at CDS, which has made an immediate and long-lasting difference. This annual report is a story of God’s faithfulness through your generous giving to Covenant Day School.
Each year, your contributions make a difference in the lives of our students and staff, providing resources that enrich their daily experiences. While our school is blessed to have tuition and program revenue cover approximately 99% of our expenses, your giving provides funding for mission-centric upgrades and enhancements.
During the 2023-2024 year, gifts from all sources totaled over one million dollars, with donations to our unrestricted Lions Fund totaling over $720,000. In the following pages, you will get a glimpse of the great impact of our donor dollars and how they are blessing our students richly. I am grateful for the many completed projects, but I am particularly excited about finishing the Covenant Field/Davis Track and beginning work on our upcoming worship and choir room. Each of these new spaces will allow our students to grow in their talents and physical abilities for many years to come.
As we look back at another amazing year of giving at Covenant Day, we thank you. As we look ahead to the future, we are excited to pursue the next phase of our campus master plan, Warner Park. I am confident we have the enthusiastic support needed to complete this project and look forward to growing our facilities here at Covenant Day School.
I am truly grateful for the generous spirit of our community. It makes Covenant Day an even more special place to serve the LORD and our wonderful families.
For Christ and His Kingdom,
Mark Helmer Head of School
Operating Budget
2023-2024
2024-2025
Operating Revenue
Gross Tuition and Fees
Less: Financial Aid & Base Discounts
Other Revenue (Interest and Endowment Draw)
Church Direct Support
Donations Supporting Operating Budget
Total Revenue $17,741,625 -$1,673,173 $240,000 $205,000 $110,000 $16,623,452
Operating Expenses
Employee Compensation, Benefits, and Related Costs
Operating Expenses (Curriculum, Classroom Needs, Technology, etc.)
Buildings and Facilities Support
Athletics and Warner Park Maintenance
Debt Service
Total Expenses $12,181,723 $1,958,588 $1,219,000 $836,141 $428,000 $16,623,452
Operating Revenue
Gross Tuition and Fees
Less: Financial Aid & Base Discounts
Other Revenue (Interest and Endowment Draw)
Church Direct Support
Donations Supporting Operating Budget
Total Revenue $19,039,600 -$1,677,163 $290,000 $225,000 $115,000 $17,992,437
Operating Expenses
Employee Compensation, Benefits, and Related Costs
Operating Expenses (Curriculum, Classroom Needs, Technology, etc.)
Buildings and Facilities Support
Athletics and Warner Park Maintenance
Debt Service
Total Expenses $13,356,228 $2,048,059 $1,320,500 $839,650 $428,000 $17,992,437
SIGNIFICANT BALANCES & OPERATING METRICS
As of June 30, 2024
Total Value of Endowments
Total Debt
Total Enrollment
Total Full-Time Employees $6,229,536 $5,087,405
SCHOOL-CHURCH PARTNERSHIP
The school is governed by a Board of Trustees and operates as a distinct but integrated ministry of Christ Covenant Church. As such, the school and church strive to maintain strong mission alignment, intentional leadership connectivity, and prudent resource management (including the use of the campus itself) with the goal of providing quality spaces for all ministries on campus to grow and thrive. Examples of financial benefits that the school receives through its partnership with the church include:
Direct Financial Support
The church provides a direct contribution each year to the operating budget of the school (currently $225,000 per year).
Use of Church-Supported Facilities
While several of the school’s newer facilities have been built by, and are maintained with, funds that come from tuition and/or school-led fundraising efforts, some of the facilities used by the school are supported primarily by the church. These include the lower school A and B buildings, the Community Life Center, and the Worship Center, without which the school would not be able to carry out the full scope of its mission.
School-Supported Facilities and Other Cost Sharing
The school’s budget includes funding for the full operating costs of the high school, the middle school, the lower school C building, the Warner Park athletic complex, and all other fields, courts, and outdoor spaces used by students. However, the school and church share in the cost of providing for broader needs such as the maintenance of the main campus grounds, a campuswide technology infrastructure, security and operations personnel, and insurance coverages, to name just a few of the more significant shared costs.
The school’s relationship with Christ Covenant Church continues to provide the rich spiritual grounding and greater organizational capacity that shape our unique calling and distinctive as a school. From a strictly financial perspective, while it is difficult to put an exact dollar figure on it, this partnership with our sponsoring church encourages a commitment to stewardship, enhances our sustainability, and allows us to continue providing a truly transformative Christian education to our students.
$720,567 LIONS FUND we’re better together!
$50,258
$21,906
$103,714
Your Generosity at Work
High School Outdoor Classroom
JK/K Outdoor Play Space
School
Additional Seating for 72 Students at High School Patio
Activity Bus
Warner Park Bleachers
Lower
CREATE, Jr. Classroom
OTHER PROJECTS BOOSTER CLUB PROJECTS
• Replacement of Middle School Technology
• Contribution to Financial Aid
• Robotics Storage Facility
• Acoustic Sound Wall Panels in the Lower School DeLapp Dining Hall
• Middle School Furniture Upgrades
• High School Portable Sound System
• Restore 525 Outdoor Pavilion
COVENANT ARTS PROJECTS
• National Strength and Conditioning Certification for Coaches
• New Scoreboard for Warner Park
• New Scorer’s Table
• Sound System Upgrades for the Main Gym and Warner Park
• Shot Put and Discus Ring for the Track and Field Team
• Shed at Warner Park
• Baseball Halo - Turf Behind Home Plate with School Logo
• New Sound and Audio Equipment for the Lions Theater and the Worship and Choir Tent
• New Worship and Choir Room
Renderings for the Worship and Choir Room
CAPITAL CAMPAIGN NEWS
THE BOARD OF TRUSTEES MET THIS SUMMER TO ANALYZE THE RESULTS OF THE FEASIBILITY SURVEY CONDUCTED THIS SPRING. AFTER PRAYERFUL CONSIDERATION, WE’RE EXCITED TO SHARE THEIR RECENT DECISION TO PURSUE WARNER PARK AS OUR NEXT CAPITAL CAMPAIGN!
Board of Trustees
The Session of Christ Covenant Church appoints the Board of Trustees of Covenant Day School to hold the school in trust, that is, to oversee the strategic operation of the school. The Board is comprised of up to 15 trustees. Each trustee serves a three-year term, renewable at the option of the Board of Trustees and Session of Christ Covenant Church. When trustees are convened in an official Board meeting, they speak as the Board. An individual trustee does not have any Board power outside of an official Board meeting. The Board employs only one person, the head of school. All other school employees report to the head of school. The 2024-25 Board of Trustees are as follows:
Rich Protasewich, Chairman
Blair Smith, Vice Chairman
Drew Peterson, Treasurer
Marisa Deaton, Secretary
Kevin DeYoung
Josh Grissom
Beth Harrelson
Greg Love
Allison Nelson
Brandon Ruby
Courtney Silver
Derek Wells
From left: Brandon Ruby, Allison Nelson, Blair Smith, Josh Grissom, Kevin DeYoung, Greg Love, Courtney Silver, Derek Wells, Beth Harrelson, Rich Protasewich, Marisa Deaton, Mark Helmer, and Drew Peterson
Strategic Goals
In 2022, the Board of Trustees appointed an ad hoc strategic planning committee that included school staff members, trustees, and parents. The committee reviewed our mission, vision, and core values and then developed a framework for guiding the future of Covenant Day School. As a result of the groundwork completed by the strategic planning committee, six strategic goals were identified. Over the last year, teams comprised of staff members from across the school have begun working on each goal. We are pleased to share an update on the progress and look forward to advancing these goals over the coming months and years.
GOAL UPDATE
1
Prioritize authentic relationship with Christ by encouraging and equipping the CDS community to grow in personal discipleship and service to others.
We assessed parents’ views of spiritual formation via a survey. As a result, the new role of spiritual formation director was defined, posted, and hired in late summer.
2
3
Provide academic excellence in Christ-centered education by identifying and addressing the needs of each learner to provide the best educational opportunities possible.
We implemented a universal screener tool in lower school through 6th grade, added a lower school interventionist role, and expanded the high school dual enrollment offerings to include three classes.
4
Develop a plan for the ongoing recruitment, hiring, training, and retention of a strong faculty and support staff to strengthen students’ learning and spiritual development.
Prioritize campus facility enhancement opportunities based on a thorough analysis of academic, athletics, and fine arts needs supported by a strengthened church and school relationship.
A consistent screening process for interviews and hiring is in the process of being formalized. Key aspects of new teacher and staff induction are also being revised.
5
6
Actively work to build a unified school community that is welcoming and loving to believers of different cultural, racial, ethnic, and socio-economic backgrounds, demonstrating how historic divisions are broken down in Christ and reflecting the values of the kingdom of God.
Enhance the school’s philanthropic culture, coordinate its development efforts, and emphasize good stewardship in long-range planning to achieve the school’s vision and ensure long-term financial sustainability.
Christ Covenant Church and Covenant Day School worked together to refresh a master plan for the campus. Plans for a new worship and choir room are underway, and Warner Park has been identified as our next capital campaign.
Middle and high school students took a survey regarding their experiences and views in this area. In addition, a comprehensive financial aid plan review was begun, and the student culture director role was moved to full-time for 2024-2025.
The Lions Fund has allowed the entire Covenant Day community a chance to be part of our mission as we seek to transform hearts and minds for the glory of Jesus Christ. See pages 6-9 for an update on giving to the Lions Fund, including several recently completed projects.
OUR COMMUNITY
at a glance
20 hours of professional development per teacher
alumni serving on staff
94%
average student retention rate
125 churches represented
1034 students JK-12 as of October 1, 2024
1243
Class of 2024 average SAT score
six alumni legacy families attending CDS in 2024-2025
45% of JK-12 teachers hold advanced degrees 1989 established
17
JK-5 teachers trained in OrtonGillingham approach to literacy
27
Class of 2024 average ACT score
7 years average faculty tenure
eighteen sports offered
161 graduates have played a sport at the collegiate level
75% of middle and high school students play at least one sport
26 state championship appearances
16 Fine Arts events per year
four-year college
34
local elementary students tutored by CDS students through the Augustine Literacy Partnership
154 students involved in Restoration & Sustainability
55
average students in after school choir per semester
1130
coffee drinks sold through the R&S student-run coffee shop
85% of students involved in Fine Arts
338
CDS students attended CDS Summer Camps in 2024
THANK YOU TO OUR 2023-2024 BUSINESS PARTNERS!
Diamond: RRI Goods
Platinum:
Brandon Ruby/Helen Adams Realty
Dentistry of the Carolinas
Mark Ficken Ford Lincoln
Gold:
Ashley HomeStore
Interstate Foam & Supply
Pediatric Surgical Associates
Providence Partners
River Pools
Tassel Capital Management
Winn’s Plumbing
Silver: Chick-Fil-A
Group Jones Realty
Forrest & Forrest Dentistry
Facility System Services, Inc.
Home Automation CLT
Star Orthodontics
Tillman Development Group
Vicus Builders
Bronze:
The Collective Cafe
Great Clips
Hull & Coleman Orthodontics
Massey Family Dentistry
National Christian Foundation
Providence Preparatory School
To view our 2024-2025 Business Partners or to learn more about the Business Partner program, visit covenantday.org/partnerships.
800 Fullwood Lane, Matthews, NC 28105