# Covenant College Endowment

Covenant College Endowment is an Endowment / Foundation based in Lookout Mountain, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Lookout Mountain, United States
- **Region:** North America
- **Address:** Lookout Mountain, GA, United States
- **Founded:** 1955
- **Assets under management:** Undisclosed
- **Website:** covenant.edu
- **LinkedIn:** https://covenant.edu/

## Regulatory record

- **Reports private funds:** No

## About

Covenant College was founded in 1955 as the denominational college of the Presbyterian Church in America (PCA) and is a private liberal arts institution situated on Lookout Mountain, Georgia. The endowment's fiduciary oversight is shared between the Covenant College Foundation and two named committee leaders: Chair Beth Anderson Nedelisky and committee member Maurice Perry, a Managing Director at Ascension Investment Management. President Brad Voyles and Treasurer Mike Kramer, who also serves as a director and audit committee chair for the publicly traded Covenant Logistics Group, complete the named governance layer. The endowment operates a two-pronged strategy centered on fund-of-funds commitments and natural-resource allocations. Its direct-ownership portfolio reveals a distinctly local real-asset bias: the institution holds campus land parcels along Scenic Highway, a commercial property at Carter Hall, the Dora Maclellan Brown Memorial Chapel, and a mixed-use building at Apollo Road, all on Lookout Mountain. The portfolio is cross-connected to the Chattanooga business community through historical leadership ties to Covenant Logistics Group. The endowment participates in the NACUBO benchmarking study and maintains institutional memberships in the Council for Christian Colleges and Universities and the Council of Independent Colleges. Sister entities within the denomination include Covenant Theological Seminary. The institution also runs a donor recognition program, The Heritage Society, for estate-plan giving that funnels into the foundation and a separate economic-development arm, The Chalmers Center. Covenant College's structure is unusual among small-college endowments for its concentrated in-town real estate footprint and the cross-pollination of its board with a publicly traded logistics company. The investment committee's tie to Ascension Investment Management links the $72.5 million pool to the broader faith-based institutional investment ecosystem, giving the college access to manager selection and fund-of-funds gatekeeping that typically sits at larger endowments.

## Sectors

- Natural Resources
- Real Estate

## People

- Beth Anderson Nedelisky — Chair of the Joint Investment Committee for Covenant College Foundation & Covenant College
- Maurice Perry — Investment Committee Member, Managing Director at Ascension Investment Management
- Brad Voyles — President of Covenant College
- Mike Kramer — College Treasurer

## Questions

### Who runs investment decisions at Covenant College's endowment?

A joint investment committee oversees the endowment and the foundation. Beth Anderson Nedelisky chairs that committee, and Maurice Perry, a Managing Director at Ascension Investment Management, serves as a committee member. College Treasurer Mike Kramer and President Brad Voyles round out the named leadership, with Kramer also holding a board seat at Covenant Logistics Group.

### What is the endowment's investment strategy?

The portfolio runs a fund-of-funds approach combined with direct allocations to natural resources. The direct holdings are concentrated in campus-adjacent real estate on Lookout Mountain, including Carter Hall, a chapel, a mixed-use building on Apollo Road, and multiple land parcels.

### Does Covenant College's endowment make direct investments or only fund commitments?

It does both. The liquid portion of the portfolio uses a fund-of-funds structure, while the real-asset bucket is almost entirely direct ownership of land and commercial buildings tied to the college's Georgia campus and nearby Lookout Mountain.

### How is Covenant College related to Covenant Logistics Group?

Covenant College shares historical leadership ties and a Chattanooga-area geographic base with Covenant Logistics Group, a publicly traded trucking firm. College Treasurer Mike Kramer sits on the logistics company's board as a director and audit committee chair.

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- [Claflin University Endowment](https://altss.com/profile/claflin-university-endowment)
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Last updated: 2026-06-03T20:00:00.000Z

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