NonprofitsCitadel Foundation

Education

Citadel Foundation

CHARLESTON, SC

Total revenue

$37.9M

Total expenses

$35.6M

Net assets

$308.8M

Grants received

$15.3M

274 grants

EIN

576020493

Tax year

2024

Mission

The citadel foundation is a nonprofit organization created to raise funds for the citadel. Gifts from alumni and friends, corporations, foundations, and other organizations provide resources that the college uses to award scholarships, recruit and retain outstanding students and professors, provide them with state-of-the-art technology and facilities, and enrich campus life through athletic and cultural activities. The top three areas of focus of the citadel foundation are to provide unrestricted support to the citadel, increase scholarship funds, and sustain enrichment programs for the south carolina corps of cadets and graduate students.

Programs

3 programs

Scholarships: scholarships allow the citadel to attract and retain promising cadets and students. Approximately 55% of the citadel's 2,300-member corps of cadets receive institutionally provided, donor-funded scholarship support. The citadel's office of financial aid and scholarships awards approximately $16 million in scholarships from endowments held at the citadel's affiliated foundations, including nearly $12 million in academic merit- and need-based awards. Scholarship awards range from full-tuition, merit-based awards to need-based financial awards that support dedicated cadets who simply need help to complete their citadel education. Most scholarships awarded by the citadel are renewable from one year to the next, providing that the cadet recipient remains in good standing and continues to meet the eligibility criteria for the award. Thanks to the generosity of alumni and friends of the college, nearly three-quarters of the corps of cadets receives some degree of financial assistance toward earning their citadel degree.

Expenses: $3.5MGrants: $3.5M

Enrichment programs: the citadel has established a variety of programs to support the college's mission to educate and prepare graduates to become principled leaders in all walks of life by instilling the core values of the citadel in a challenging intellectual environment. These programs enhance the college's academic standing by enabling cadets and citadel graduate college students to participate in external leadership opportunities and conferences, and by helping to promote the citadel through associations with peer institutions focused on leadership development. Examples of program initiatives include:1. The newly established krause school for leadership and ethics, combining the existing krause center and the department of leadership studies to form the college's sixth academic school2. Cybercorps scholarship for service program3. Facility enhancements, including the design of a new school of engineering building, renovations to classroom and labratory spaces in byrd and ducket halls, raising funds to rebuild the east side stands at johnson hagood stadium, and renovating the baseball clubhouse and locker rooms at joe riley park.4. Emerging topics in intelligence and security studies lecture series5. Faculty and student panels exploring the merits, opportunities, and challenges of incorporating artificial intelligence into classroom and campus activities

Expenses: $11.5MGrants: $11.5M

Real estate: the citadel real estate foundation (tcref) supports the citadel through various real property initiatives. Tcref may request and accept gifts and grants from the foundation to support those initiatives. In 2024 grants were made to tcref related to the construction and debt service of bastin hall, and the purchase of properties on dunneman avenue and grove street along the edge of the citadel campus.

Expenses: $7.0MGrants: $7.0M

Financials

FY 2024

Revenue

Contributions & grants$26.8M
Program service revenue
Investment income$9.9M
Other revenue$1.2M
Total revenue$37.9M

Expenses

Grants paid$24.3M
Salaries & benefits$7.3M
Fundraising$6.9M
Other expenses$3.9M
Total expenses$35.6M
Total assets$332.3M
Net assets$308.8M

People

45 listed

NameRoleCompensation

JAY P DOWD III

PRESIDENT AND CEO

Board

$522K

40 hrs/wk

SHANNON N MEASE

COO/CFO

Board

$363K

40 hrs/wk

RADM STEPHEN C EVANS-BEG 0424

BOARD MEMBER

Board

1 hrs/wk

COL THOMAS L HENDRICKSUSAF RET

AUDIT COMMITTEE CHAIR

Board

1 hrs/wk

MR ROBERT R HILL JR

GRANTS COMMITTEE CHAIR

Board

1 hrs/wk

MS M RUSSELL HOLLIDAY JR

BOARD MEMBER

Board

1 hrs/wk

MR JOSEPH J KEENAN

REAL ESTATE COMMITTEE CHAIR

Board

1 hrs/wk

MR L WILLIAM KRAUSE

BOARD MEMBER

Board

1 hrs/wk

MR CHARLES B LAWLESS

INVESTMENT COMMITTEE CHAIR

Board

1 hrs/wk

MR A FOSTER MCKISSICK III

BOARD MEMBER

Board

1 hrs/wk

MR BRETT S MILLER-BEG 0424

BOARD MEMBER

Board

1 hrs/wk

MR J BRICE O'BRIEN

BOARD MEMBER

Board

1 hrs/wk

MS AMANDA M ORSON-BEG 0424

BOARD MEMBER

Board

1 hrs/wk

COL ALVIN A PERKINS USA RET

BOARD MEMBER

Board

1 hrs/wk

MR WILLIAM S STAFFORD-BEG 1124

BOARD MEMBER

Board

1 hrs/wk

MR PETER SULICK JR

BOARD MEMBER

Board

1 hrs/wk

MR CHRISTOPHER C SULLIVAN

BOARD MEMBER

Board

1 hrs/wk

DR CHRISTOPHER C SWAIN

BOARD MEMBER

Board

1 hrs/wk

MR L WILLIAM VARNERJR-BEG0424

BOARD MEMBER

Board

1 hrs/wk

GEN GLENN M WALTERS USMC RET

BOARD MEMBER

Board

1 hrs/wk

MR ANDERSON D WARLICK

EMERITUS

Board

1 hrs/wk

MR J TODD WATKINS

BOARD MEMBER

Board

1 hrs/wk

MR DAVID D AUGHTRY

BOARD MEMBER

Board

1 hrs/wk

LT COL WILLIAM R CULLBREATH JR US

BOARD MEMBER

Board

1 hrs/wk

MR W HENRY JOHNSON-THRU 0424

BOARD MEMBER

Board

1 hrs/wk

MR JAMES A KING II-THRU 0424

BOARD MEMBER

Board

1 hrs/wk

MR DANIEL MCQUEENEY-THRU 0424

BOARD MEMBER

Board

1 hrs/wk

MR NORMAN POOLE JR-THRU 1124

BOARD MEMBER

Board

1 hrs/wk

MR JAMES W REED - THRU 0424

BOARD MEMBER

Board

1 hrs/wk

MR RICHARD SANDERSJR-THRU0424

BOARD MEMBER

Board

1 hrs/wk

MR JAMES J ETHRIDGE JR

CHAIRMAN, EXEC COMMITTEE CHAIR

Board

2 hrs/wk

MR LUTHER C KISSAM IV

VICE CHAIRMAN, DEV/OMC COMMITTEE CHAIR

Board

2 hrs/wk

MRS MARINA DANIEL BUESCHER

TREASURER/SECRETARY

Board

2 hrs/wk

MR CLAUDIUS E WATTS IV

BOARD MEMBER

Board

1 hrs/wk

MR TOMMY B BAKER

NOMINATIONS/COMP COMMITTEE CHAIR

Board

1 hrs/wk

MR CHARLES B COE

BOARD MEMBER

Board

1 hrs/wk

DR LOUIS E COSTA II

BOARD MEMBER

Board

1 hrs/wk

MR RAFAEL R COSTAS JR

BOARD MEMBER

Board

1 hrs/wk

MR STEPHEN L DAVIS

BOARD MEMBER

Board

1 hrs/wk

COL F G DELLENEY JR

BOARD MEMBER

Board

1 hrs/wk

JONATHAN KRESKEN

VP LEGACY, ANNUAL & REUNION GIVING

Staff

$258K

40 hrs/wk

GAYLORD GREENE

VP ATHLETIC DEVELOPMENT

Staff

$230K

40 hrs/wk

JODI COLLINS

CONTROLLER

Staff

$186K

40 hrs/wk

ASHLEY SANTOS

ASSOC. VP, PRINCIPAL GIVING

Staff

$170K

40 hrs/wk

ROBERT STEPHENSON

ASSOC. VP FOR MAJOR GIFTS

Staff

$156K

40 hrs/wk

Independent contractors

SAVE THE SEA ISLANDS LLC

DREDGING

$300K

THE CITADEL ALUMNI ASSOCIATION

RENT

$204K

HOLLAND AND KNIGHT LLP

ADVOCACY SUPPORT

$165K

ELLIOTT DAVIS LLC

ACCOUNTING

$150K

Grants received

Showing 200 of 274

FromAmountPurposeYear
$1.3M
GENERAL SUPPORT
2024
$390K
SUPPORT OF CONTINUING EDUCATION
2024
$201K
GIVING AND GENEROSITY
2024
$128K
TO PROMOTE STUDENT,FACULTY,ATHLETICS
2024
$128K
UNRESTRICTED GENERAL SUPPORT
2024
$100K
RESEARCH EDUCATION
2024
$75K
TO PRESERVE COLONIAL SITES/ARTIFICATS
2024
$50K
ASSIST VETERANS
2024
$42K
TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE
2024
$32K
TO PROMOTE STUDENT,FACULTY,ATHLETICS
2024
$30K
UNRESTRICTED
2024
$25K
FURTHER ORG'S EXEMPT PURPOSE
2024
$25K
TO PROMOTE STUDENT,FACULTY,ATHLETICS
2024
$20K
UNDERGRADUATE IMMERSION TRAVEL
2024
$20K
GENERAL SUPPORT
2024
$15K
FURTHER ORG'S EXEMPT PURPOSE
2024
$10K
General Support
2024
$10K
General funding of the organization.
2024
$9K
General Support
2024
$8K
Distribution of food and grocery products
2024
$3K
DONATIONS TO COLLEGES, UNIVERSITIES AND OTHER ORGANIZATIONS UNDER "MATCHING GIFTS PROGRAM."
2024
$3K
FURTHER ORG'S EXEMPT PURPOSE
2024
$1K
SCHLORSHIP
2024
$620
GENERAL OPERATING PURPOSE
2024
$906K
FOR SOFTWARE TOOLS TO SUPPORT THE SERVICES PLANS FOR COMMAND AND CONTROL OF THE INFORMATION ENVIRONMENT
2023
$208K
For grant recipient's exempt purposes
2023
$170K
UNRESTRICTED GENERAL SUPPORT
2023
$126K
DONATION
2023
$100K
TO FULFILL CHARITABLE, RELIGIOUS, SCIENTIFIC, LITERARY, EDUCATIONAL, OR CULTURAL OBJECTIVES OF THE 501(C)(3) CHARITY
2023
$100K
GENERAL SUPPORT
2023
$80K
GENERAL OPERATING GRANT
2023
$50K
ASSIST VETERANS
2023
$30K
UNRESTRICTED
2023
$30K
FOR RECIPIENT'S EXEMPT PURPOSE
2023
$25K
Program Support
2023
$20K
FURTHER ORG'S EXEMPT PURPOSE
2023
$20K
FURTHER ORG'S EXEMPT PURPOSE
2023
$20K
RESEARCH EDUCATION
2023
$20K
STADIUM ENHANCEMENT
2023
$19K
KNOB LEADER COURSE
2023
$19K
MATCHING GIFTS
2023
$17K
CHARITABLE DONATION
2023
$16K
UNDERGRADUATE IMMERSION TRAVEL
2023
$10K
SUPPORT OF CONTINUING EDUCATION
2023
$10K
GENERAL SUPPORT
2023
$7K
Scholarships, general purposes
2023
$6K
EDUCATION
2023
$6K
PRIVATE COLLEGES & UNIVERSITIES - OTHER SUPPORT
2023
$6K
CHAPEL STAINED GLASS WINDOW RESTORATION
2023
$5K
FOR OPERATIONS
2023
$5K
CHARITABLE DONATION
2023
$5K
General Support
2023
$3K
EDUCATIONAL
2023
$3K
PROGRAM/OPERATING SUPPORT
2023
$3K
DONATIONS TO COLLEGES, UNIVERSITIES AND OTHER ORGANIZATIONS UNDER "MATCHING GIFTS PROGRAM."
2023
$2K
SCHOLARSHIP FUND AND RILEYPORTRAIT
2023
$2K
OTHER CIVIC / COMMUNITY
2023
$1K
PROGRAM/OPERATING SUPPORT
2023
$1K
Matching Gifts
2023
$1K
GENERAL SUPPORT
2023
$845
GENERAL CONTRIBUTION
2023
$750
GENERAL OPERATING PURPOSE
2023
$500
PROGRAM/OPERATING SUPPORT
2023
$300
Citadel Medical Emergency Fund
2023
$250
PROGRAM/OPERATING SUPPORT
2023
$198
GENERAL OPERATING GRANTS & MATCHING GIFTS.
2023
$100
PROGRAM/OPERATING SUPPORT
2023
$100
PROGRAM/OPERATING SUPPORT
2023
$100
PROGRAM/OPERATING SUPPORT
2023
$25
MATCHING GIFTS
2023
$260K
For grant recipient's exempt purposes
2022
$125K
GENERAL SUPPORT
2022
$100K
ASSIST VETERANS
2022
$100K
SUPPORT OF CONTINUING EDUCATION
2022
$99K
GENERAL OPERATING GRANT
2022
$46K
GENERAL SUPPORT
2022
$45K
FURTHER ORGANIZATION'S EXEMPT PURPOSE
2022
$34K
FOR RECIPIENT'S EXEMPT PURPOSE
2022
$32K
UNRESTRICTED GENERAL SUPPORT
2022
$30K
UNRESTRICTED
2022
$25K
EMBEDDING EM INSTITUTIONALLY
2022
$25K
DONATION
2022
$24K
CHARITABLE DONATION
2022
$20K
GENERAL SUPPORT
2022
$20K
STADIUM ENHANCEMENT
2022
$19K
KNOB LEADER COURSE
2022
$17K
UNDERGRADUATE IMMERSION TRAVEL
2022
$11K
MATCHING GIFTS
2022
$10K
Unrestricted usein community involvement activities
2022
$8K
GENERAL SUPPORT
2022
$8K
ASSIST ORGANIZATIONS WITH ITS NEEDS AND GOALS
2022
$7K
FY'22 MATCHING GIFTS
2022
$4K
CHARITABLE DONATION
2022
$3K
PROGRAM/OPERATING SUPPORT
2022
$3K
DONATIONS TO COLLEGES, UNIVERSITIES AND OTHER ORGANIZATIONS UNDER "MATCHING GIFTS PROGRAM."
2022
$2K
PROGRAM/OPERATING SUPPORT
2022
$2K
MIP PAYOUT FOR 02/07/2022
2022
$2K
MIP PAYOUT FOR 11/09/22
2022
$1K
GENERAL OPERATING PURPOSES
2022
$1K
GENERAL SUPPORT
2022
$500
MATCHING GIFT
2022
$500
the Citadel Ring Fund
2022
$500
CHARITABLE ACTIVITIES
2022
$200
Educational
2022
$100
GENERAL OPERATIONS
2022
$304K
For grant recipient's exempt purposes
2021
$304K
For grant recipient's exempt purposes
2021
$118K
GENERAL OPERATING GRANT
2021
$102K
SCHOLARSHIP
2021
$100K
SCHOLARSHIP ENDOWMENT
2021
$54K
For recipient's exempt purpose
2021
$20K
UNDERGRADUATE IMMERSION TRAVEL
2021
$16K
CHARITABLE DONATION
2021
$11K
CHARITABLE DONATION
2021
$10K
Unrestricted usein community involvement activities
2021
$10K
Program Support
2021
$7K
UNRESTRICTED
2021
$5K
FY'21 MATCHING GIFTS
2021
$3K
DONATIONS TO COLLEGES, UNIVERSITIES AND OTHER ORGANIZATIONS UNDER "MATCHING GIFTS PROGRAM."
2021
$400
OPERATIONAL SUPPORT
2021
$100
EMPLOYEE GIVING PROGRAM
2021
$100
GENERAL OPERATIONS
2021
$100
OPERATIONAL SUPPORT
2021
$1.2M
GENERAL FUND/ CITADEL PROJECT
2020
$250K
GENERAL CHARITABLE PURPOSE
2020
$173K
For grant recipient's exempt purposes
2020
$137K
Educational
2020
$130K
DONATION
2020
$40K
General & Unrestricted
2020
$31K
GENERAL SUPPORT
2020
$30K
GENERAL SUPPORT
2020
$30K
Grants to help fund and support faculty with innovative ideas to create new or transform existing courses and programs to help students develop novel, STEM-based inventions and gain the necessary entrepreneurial skills needed to bring these ideas to market.
2020
$21K
FOR RECIPIENT'S EXEMPT PURPOSE
2020
$20K
TO PROVIDE UNRESTRICTED SUPPORT TO THE CITADEL, INCREASE SCHOLARSHIP FUNDS, AND SUSTAIN ENRICHMENT PROGRAMS FOR THE SOUTH CAROLINA CORPS OF CADETS AND GRADUATE STUDENTS.
2020
$20K
UNRESTRICTED
2020
$19K
KNOB LEADER ENDOWMEN
2020
$15K
ANNUAL OPERATING FUND
2020
$13K
GENERAL SUPPORT
2020
$12K
CHARITABLE DONATION
2020
$11K
MULTIPLE SUPPORT
2020
$10K
GENERAL SUPPORT
2020
$10K
FURTHER ORGANIZATION'S EXEMPT PURPOSE
2020

Funded by

$15.3M from 110 funders · 274 grants · 2017–2024

Fidelity Investments Charitable Gift Fund

$2.1M · 7 grants · 2018–2023

Donor Advised Charitable Giving Inc

$1.4M · 7 grants · 2017–2023

The Bessemer Giving Fund

$1.3M · 1 grant · 2024

Natl Christian Charitable Fdn Inc

$1.2M · 5 grants · 2020–2024

Sansom Family Foundation

$1.2M · 1 grant · 2020

The Watts Family Foundation

$1.1M · 9 grants · 2017–2023

Norwich University

$906K · 1 grant · 2023

Nicholas J And Anna K Bouras

$500K · 3 grants · 2022–2024

Details

EIN576020493
NTEE codeB110
Subsection03
Ruling date1964-08
Formed1961
Employees43
Volunteers360
CITADEL FOUNDATION — Mission, Financials & Grants Received | Grantivo