The Citadel Foundation
The Citadel Foundation reported $37.9 million in revenue and $35.6 million in expenses for calendar year 2024. Of every $100 it spent, $69.10 went to program services, $11.38 to management and general costs and $19.52 to fundraising. Its largest source of revenue was contributions and grants: 70.7% of the total. The highest compensation it reported for one person was $609,937 (PRESIDENT AND CEO). 7 people received more than $100,000 in reportable compensation. Revenue rose 56% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $36MFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $38MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 69.1% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 11.4% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 19.5% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.26 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 70.7% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 0.0% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $609,937 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 1.72% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 7 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 104.2 | 13.3 |
| Independent voting board members Part VI 1a–1b | 31 of 31 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseAcademic support: unrestricted gifts to the citadel are an essential component in maintaining the college's academic excellence and fiscal stability. Unrestricted gifts have an immediate and enduring impact on campus priorities and the most urgent needs, providing the flexibility to support the college's most critical objectives. Unrestricted gifts enable the citadel to:1. Enhance the classroom experience and library resources 2. Support cadet research and travel initiatives 3. Provide scholarships and financial aid resources 4. Engage and retain the most talented faculty and staff 5. Expand…
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…
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…
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT AND CEO Officer, 40.00 hrs/week | $522,355 | $0 | $87,582 | $609,937 |
| COO/CFO Officer, 40.00 hrs/week | $363,338 | $0 | $82,532 | $445,870 |
| VP LEGACY, ANNUAL & REUNION GIVING Highest compensated employee, 40.00 hrs/week | $257,933 | $0 | $71,180 | $329,113 |
| VP ATHLETIC DEVELOPMENT Highest compensated employee, 40.00 hrs/week | $229,863 | $0 | $36,079 | $265,942 |
| ASSOC. VP, PRINCIPAL GIVING Highest compensated employee, 40.00 hrs/week | $170,294 | $0 | $70,065 | $240,359 |
| ASSOC. VP FOR MAJOR GIFTS Highest compensated employee, 40.00 hrs/week | $155,989 | $0 | $68,098 | $224,087 |
| CONTROLLER Highest compensated employee, 40.00 hrs/week | $185,885 | $0 | $28,622 | $214,507 |
7 people received more than $100,000 in reportable compensation from The Citadel Foundation (Part VII, line 2). Compensation of current officers, directors and key employees totaled $886K (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b31 · 31 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 543
- Volunteers Part I, line 6360
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| SAVE THE SEA ISLANDS LLC Dredging | $300,000 |
| THE CITADEL ALUMNI ASSOCIATION Rent | $203,511 |
| HOLLAND AND KNIGHT LLP Advocacy support | $165,000 |
Individuals listed as contractors are left out. 4 contractors were paid more than $100,000 in all.
Private foundation grants it received
27 private foundations reported grants to The Citadel Foundation totaling $539K on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from The Citadel Foundation's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for The Citadel Foundation, you can publish a response that is linked from this page.
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Of every $100 The Citadel Foundation spent in 2024, $69.10 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Ramah Navajo School BoardPine Hill, NM · revenue $38M · programs 73.3% · 2024
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- Graceland UniversityLamoni, IA · revenue $38M · programs 86.2% · FY2025
- The Rocklin AcademyRocklin, CA · revenue $38M · programs 80.7% · FY2025
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All education charities · Largest charities in South Carolina
Questions people ask
How much of The Citadel Foundation's spending goes to programs?
In calendar year 2024, The Citadel Foundation reported that 69.1% of its $35.6 million in expenses went to program services, 11.4% to management and general and 19.5% to fundraising (Form 990, Part IX).
How much does The Citadel Foundation pay its top executive?
The largest total compensation The Citadel Foundation reported for one person in calendar year 2024 was $609,937, for the role of PRESIDENT AND CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does The Citadel Foundation get its money?
Of $37.9 million in revenue in calendar year 2024, 70.7% came from contributions and grants and 0.0% from program service revenue (Form 990, Part VIII).
Is The Citadel Foundation a registered charity?
The IRS lists EIN 57-6020493 as a 501(c)(3) organization (organization operated for a governmental college or university), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202513179349300621 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202443129349301564 · read the filing
- 2022: Form 990 for calendar year 2022, object 202303129349302515 · read the filing
- 2021: Form 990 for calendar year 2021, object 202243189349312564 · read the filing
- 2020: Form 990 for calendar year 2020, object 202113169349304106 · read the filing
- 2019: Form 990 for calendar year 2019, object 202033219349305143 · read the filing
All filings for EIN 57-6020493: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.