2024-2025 Annual Report

ANNUAL REPORT C O V E N A N T D AY S C H O O L 2024-2025

FROM THE

Head of School A CELEBRATION OF GENEROSITY Dear Covenant Day Families, Alumni, and Friends: As we celebrate the generosity of our community, we are reminded that Covenant Day is more than programs and facilities; it is a community devoted to transforming hearts and minds for the glory of Jesus Christ. Every gift, every act of support, enriches the student experience, empowers our faculty and staff, and strengthens our Christ-centered community.

Your gifts to the Lions Fund continue to make a tangible difference in the daily lives of our students. While tuition covers the majority of our operating expenses, it is your support that allows us to respond to emerging needs, enhance learning experiences, and provide missiondriven opportunities that elevate the Covenant Day experience every day. In 2024–2025, gifts to all funds exceeded $1,146,200, with $812,548 directed to the unrestricted Lions Fund, which supports the daily operations of our school and addresses the immediate needs of students and faculty.

At the same time, we are moving boldly into the future through the Forever Covenant campaign. Phase I focuses on completing Warner Park, our $10.5 million initiative to transform our athletic facilities into a vibrant hub for the Covenant Day community. More than fields and bleachers, Warner Park will be a place for students, parents, alums, and families to gather, celebrate, and grow together—building relationships, fostering community, and advancing our mission of Christ-centered education.

The 2024-2025 annual report recognizes the accomplishments made possible by your generosity and looks forward to what we can achieve together. Your support through the Lions Fund, the Forever Covenant campaign, and your prayers and involvement ensure that Covenant Day continues to thrive, equipping students to live as salt and light in their communities.

We are deeply grateful for the faithful support of our donors, families, and friends. Together, we are building more than facilities; we are shaping lives, nurturing community, and investing in a legacy that will bless generations to come.

Thank you for your partnership, your prayers, and your generosity.

For Christ and His Kingdom,

Mark Helmer Head of School

2

contents 02 F R O M T H E H E A D O F S C H O O L 04 O P E R AT I N G B U D G E T 05 S C H O O L - C H U R C H PA R T N E R S H I P 06 G I V I N G 08 Y O U R G E N E R O S I T Y AT W O R K 12 C A P I TA L C A M PA I G N 14 B O A R D O F T R U S T E E S 15 S T R AT E G I C G O A L S 3

Operating Budget 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

$19,039,600 -$1,677,163 $290,000 $225,000 $115,000

Total Revenue

$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

$13,356,228 $2,048,059 $1,320,500 $839,650 $428,000

Total Expenses

$17,992,437

SIGNIFICANT BALANCES AND OPERATING METRICS

As of June 30, 2025

4

Total Value of Endowments Total Debt Total Enrollment Total Full-Time Employees

$7,314,211 $4,470,803 1,028 171

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 (for 2024-25, this contribution was $225,000).

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.

From safety to daily operations, this incredible team, some of whom are pictured, supports both our school and church community with excellence.

5

Giving

2024-2025 DONATION BREAKDOWN

$812,548 LIONS FUND

$102,220 BOOSTER MEMBERSHIPS/GOLF TOURNAMENT

$25,650 COVENANT ARTS MEMBERSHIPS/FINE ARTS

$67,600 ENDOWMENTS

$138,185 OTHER

$1,146,203 TOTAL

Donors by Constituency

6

Current Parents Grandparents Alumni Parents Alumni Non-parent Faculty/Staff, Board Members, and Other Donors

323 68 33 10 113

Total Donors

547

SAVE THE DATE

giving day OCTOBER 22, 2025

This Year’s Giving Day Supports the Lions Fund and Forever Covenant!

On October 22, 2025, we invite you to join us for a special day of giving to support both the present and future of Covenant Day School. From classroom resources to enhancements, the Lions Fund, our annual fund, supports projects and needs as they arise throughout the school year. The Forever Covenant campaign is focused on building the infrastructure our growing programs need, including the completion of Warner Park, ensuring Covenant Day continues to thrive for generations to come. Together, we can make this vision a reality. It will take 100% engagement from our community, and every gift, large or small, creates momentum and lasting impact for our students and community. We invite you to reflect on the blessings God has entrusted to you and consider how you might participate. Make your gift on or before Giving Day, October 22, and help shape both the present and future of Covenant Day School.

7

Your Generosity at Work

8

Reconfiguration of JK and Kindergarten Classrooms and Bathrooms

Updated Downstairs Bathrooms and Refreshed Stairway Paint in the B Building

New Teacher Workroom in the C Building

New Storage Cabinets in Lower School Cafeteria

9

Worship and Choir Room Addition off the Back of the C Building

10

New Main Gym Floor

Window Shades in the High School

11

12

Warner Park Projects - $10.5M FIELD HOUSE E I G H T- L A N E T R A C K FIELD EVENT AMENITIES CONCESSIONS RESTROOMS PAV E D PA R K I N G

S TA D I U M S E AT I N G PRESSBOX A S S O C I AT E D F I E L D R E PA I R S SITEWORK EARTHWORK

Rendering is conceptual and subject to change.

13

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. This year, we welcomed two new board members: Daniel Burns and Lans Slack.

Daniel Burns

Lans Slack

Additional members of the 2025-2026 Board of Trustees are pictured below.

From left: Brandon Ruby, Allison Nelson, Blair Smith, Josh Grissom (Treasurer), Kevin DeYoung, Greg Love, Courtney Silver, Derek Wells, Beth Harrelson, Rich Protasewich (Chairman), Marisa Deaton (Secretary), Mark Helmer, and Drew Peterson (Vice Chairman) 14

Strategic Goals

1 2 3 4 5

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.

6

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.

Prioritize authentic relationship with Christ by encouraging and equipping the CDS community to grow in personal discipleship and service to others.

Provide academic excellence in Christ-centered education by identifying and addressing the needs of each learner to provide the best educational opportunities possible.

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.

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.

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 to guide the future of Covenant Day School. As a result of the groundwork completed by the strategic planning committee, six strategic goals were identified.

Covenant Day continues to make progress toward these goals with the support of teams made up of staff members from across the school. We are advancing spiritual formation through the ongoing work of our Spiritual Formation Director, Phil Davis, who has become an integral part of our team by leading a review and making updates to our Bible curriculum, directing chapel, meeting with students and parents, and more. At the same time, we remain committed to recruiting, hiring, and retaining the highest-quality Christian school educators, recognizing that our teachers are the cornerstone of our school’s strength. Finally, the Forever Covenant campaign represents a bold step forward in achieving our goal of targeted facility enhancements designed to enrich our students’ experience and support our mission. We look forward to building on this momentum as we pursue these goals in the years to come.

15

THANK YOU TO OUR 2024-2025 BUSINESS PARTNERS! Diamond: RRI Goods Platinum: Ashley Homestore Dentistry of the Carolinas Mark Ficken Ford Lincoln Gold: Brandon Ruby/Helen Adams Realty Charlotte Oral Surgery Interstate Foam & Supply River Pools Tassel Capital Management Winn’s Plumbing Silver: Carolina Pets Hospital Chick-Fil-A Complete Network Group Jones Realty Facility System Services, Inc. Kuckleman & Lucente Secure in Motion Star Orthodontics Vicus Builders Bronze: The Collective Cafe Great Clips Hull & Coleman Orthodontics Massey Family Dentistry National Christian Foundation Providence Preparatory School Modish Nail Salon Tower Property Group White Duck Taco To view our 2025-2026 Business Partners or to learn more about the Business Partner program, visit covenantday.org/partnerships.

800 Fullwood Lane, Matthews, NC 28105