A Randolph-Macon College liberal arts education develops the mind and character of each student.

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
$1.7M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $7.6M a year · 7% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.7M
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
7 mo
of spending, in cash
Plus $225.1M in investments, Pt X · Ln 11–13
Looks good: 6.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $31K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$81.9M
19% of total assets
Looks good: liabilities are 19% of assets; 50% or less.
Pt X · Ln 26
Independent board members
46
of 47 voting members
Looks good: 46 of 47 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$119.2M
+25% vs prior year
Spent
$94.6M
To programs
92%
Net assets
$344.2M
By yearFY2020–FY2025
Revenue
$119.2M
FY2021▲ +25%
Tap a bar for its year
Revenue by fiscal year
FY2020$95.3M
FY2021$119.2M
FY2022$106.4M
FY2023$107.7M
FY2024$101.9M
FY2025$126.1M
Expenses
$94.6M
FY2021▲ +2%
Tap a bar for its year
Expenses by fiscal year
FY2020$93.0M
FY2021$94.6M
FY2022$96.6M
FY2023$101.5M
FY2024$108.2M
FY2025$117.1M
Net assets
$344.2M
FY2021▲ +19%
Tap a bar for its year
Net assets by fiscal year
FY2020$289.2M
FY2021$344.2M
FY2022$319.6M
FY2023$334.1M
FY2024$341.3M
FY2025$356.9M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 1923.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $87.4M Management & general 6% · $5.7M Fundraising 2% · $1.5M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

57 people listed on the 990; $1.7M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$286,849Pt VII · Sec A
$171,993Pt VII · Sec A
VP Enrollment
$167,984Pt VII · Sec A
VP Admin & Finance, Treasu
$165,741Pt VII · Sec A
VP Advancement
$161,870Pt VII · Sec A
$147,516Pt VII · Sec A
$146,768Pt VII · Sec A
$125,961Pt VII · Sec A

Robert R Lindgren ESQ’s $334K as President is at the 17th percentile of top reported officer pay among 674 $100M+ education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Robert R Lindgren ESQ$334,191$410,505$298,751$298,751$286,849$289,466
Diane M Lowder ESQ$186,128$180,784$295,676$295,676$161,870$166,514
Paul T Davies$189,630$257,432$173,012$173,012$165,741$173,367
Brenda Poggendorf$235,186$152,428————
Cynthia Rubenstein$232,553$178,668$148,202$148,202$147,516$148,715
Mark G Malvasi$231,603—————
Alisa J Rosenthal$221,678$189,133$169,198$169,198$171,993$94,988
William T Franz PHD—————$178,989

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Randolph-Macon College executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Develops minds and character through a liberal arts education.

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Provided by the organization

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1 program · $87.4M · in their own filed words · FY2020
01

Randolph-macon college is an institution of higher education providing a four year liberal arts curriculum to approximately 1,455 students.

$87.4Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 3 funders$31K
See all 3 funders →
Grants paid · 21 grants · $283.2M · 2019–2024
Unitemized GrantFY2024$43,921,446
Unitemized GrantFY2024$3,532,893
Unitemized GrantFY2024$126,104
Unitemized GrantFY2023$39,378,174
Unitemized GrantFY2023$2,596,147
Unitemized GrantFY2023$194,600
Unitemized GrantFY2022$36,632,584
Unitemized GrantFY2022$2,431,518
Unitemized GrantFY2022$239,837
Unitemized GrantFY2021$36,554,105
Unitemized GrantFY2021$36,554,105
Unitemized GrantFY2021$2,021,331
Unitemized GrantFY2021$2,021,331
Unitemized GrantFY2021$244,250
Unitemized GrantFY2021$244,250
Unitemized GrantFY2020$36,402,980
Unitemized GrantFY2020$2,699,470
Unitemized GrantFY2020$273,153
See all 21 grants →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$119.2M
Ln 12
Fees for servicesLn 2g$79.1M
Investment incomeLn 3$25.6M
Gifts and grantsLn 1h$13.7M
Money outPt IX
$94.6M
Ln 25
Programscol B$87.4M
Managementcol C$5.7M
Fundraisingcol D$1.5M
Owns and owesPt X
$344.2M
net assets · Ln 32
Cash and savingsLn 1–2$54.2M
Total assetsLn 16$426.1M
LiabilitiesLn 26$81.9M
PeoplePt VI, VII
57
listed · VII A
PaidVII A11
Voting boardVI 1a47
IndependentVI 1b46
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$13.7M
Government grantsLn 1e$4.6M
Noncash giftsLn 1g$657K
Fees for servicesLn 2g$79.1M
Investment incomeLn 3$25.6M
Other incomeLn 4–11$747K
Gains on assetsLn 7$20.7M
Total revenueLn 12$119.2M
Assets in detailPt X, end of year
CashLn 1$33.9M
SavingsLn 2$20.3M
Cash and savings togetherLn 1–2$54.2M
InvestmentsLn 11–13$225.1M
Land, buildings, equipmentLn 10c$133.6M
Other assetsLn 15$2.3M
Total assetsLn 16$426.1M
LiabilitiesLn 26$81.9M
Net assetsLn 32$344.2M
OperationsPt I, VI
EmployeesI 51,346
VolunteersI 68
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$42.6M$54.2M
InvestmentsLn 11–13$172.9M$225.1M
Land, buildings, equipmentLn 10c$122.0M$133.6M
Total assetsLn 16$349.7M$426.1M
LiabilitiesLn 26$60.5M$81.9M
Net assetsLn 32$289.2M$344.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$39.4M$39.4M
Pay of current officers, directors and key staffLn 5$1.3M$580K$367K$315K
Other salaries and wagesLn 7$24.2M$21.6M$1.6M$930K
Pension plan contributionsLn 8$978K$854K$76K$48K
Other employee benefitsLn 9$4.8M$4.2M$399K$236K
Payroll taxesLn 10$1.8M$1.6M$140K$87K
Lobbying feesLn 11d$3K$3K
Investment management feesLn 11f$1.7M$1.7M
Other fees for servicesLn 11g$1.5M$1.4M$28K$7K
Advertising and promotionLn 12$908K$863K$41K$4K
Office expensesLn 13$1.5M$1.2M$125K$142K
Information technologyLn 14$1.9M$1.6M$171K$42K
OccupancyLn 16$3.4M$3.3M$45K$21K
TravelLn 17$25K$19K$920$5K
Conferences, conventions and meetingsLn 19$138K$122K$10K$6K
InterestLn 20$1.4M$1.3M$68K
Depreciation, depletion and amortizationLn 22$4.6M$4.2M$368K$46K
InsuranceLn 23$611K$611K
Other expenses (24a–d)Ln 24$7.2M$6.9M$205K$91K
All other expensesLn 24e−$2.6M−$1.7M−$373K−$436K
Total functional expensesLn 25$94.6M$87.4M$5.7M$1.5M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $126.1M$117.1M$8.9M$356.9M 990 PDF
FY2024 $101.9M$108.2M−$6.2M$341.3M 990 PDF
FY2023 $107.7M$101.5M$6.1M$334.1M 990 PDF
FY2022 $106.4M$96.6M$9.8M$319.6M 990 PDF
FY2021 Viewing $119.2M$94.6M$24.6M$344.2M 990 PDF
FY2020 $95.3M$93.0M$2.3M$289.2M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash J · Pay O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $119,204,346 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $12,082,330$13,731,117
I-9 Program service revenuePrior year $74,217,547$79,142,784
I-10 Investment incomePrior year $7,538,624$25,583,428
I-11 Other revenuePrior year $1,436,692$747,017
I-12 Total revenuePrior year $95,275,193$119,204,346
I-13 Grants and similar amounts paidPrior year $37,108,499$39,375,603
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $32,631,654$33,034,191
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $23,210,229$22,231,000
I-18 Total expensesPrior year $92,950,382$94,640,794
I-19 Revenue less expensesPrior year $2,324,811$24,563,552
Part VI · Governance 46 of 47 board members independent, no flags
VI-1a Voting members of the governing body47
VI-1b Independent voting members46
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $119,204,346 across 10 lines filed
Lines not itemized here account for −$214,381 of total revenue; see the IRS return.
VIII-1e Government grants$4,621,252
VIII-1f All other contributions, gifts and grants$9,109,865
VIII-1g Noncash contributions (included above)$657,406
VIII-1h Total contributions, gifts and grants$13,731,117
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $79,142,784$79,142,784
VIII-3 Investment incomeUnrelated business $1,470 · Excluded from tax $4,861,538$4,863,008
VIII-6 Net rental income or lossExcluded from tax $246,096$246,096
VIII-7 Net gain or loss on sales of assetsRelated to mission −$26,096 · Excluded from tax $20,746,516$20,720,420
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $318,104 · Unrelated business $397,198$715,302
VIII-12 Total revenueRelated to mission $79,418,517 · Unrelated business $200,562 · Excluded from tax $25,854,150$119,204,346
Part IX · Statement of functional expenses $94,640,794 across 20 lines filed
IX-2 Grants to domestic individualsPrograms $39,375,603$39,375,603
IX-5 Pay of current officers, directors and key staffPrograms $579,511 · Management $367,327 · Fundraising $315,235$1,262,073
IX-7 Other salaries and wagesPrograms $21,640,707 · Management $1,630,676 · Fundraising $930,142$24,201,525
IX-8 Pension plan contributionsPrograms $854,060 · Management $76,266 · Fundraising $47,538$977,864
IX-9 Other employee benefitsPrograms $4,150,933 · Management $399,494 · Fundraising $236,240$4,786,667
IX-10 Payroll taxesPrograms $1,578,362 · Management $140,269 · Fundraising $87,431$1,806,062
IX-11d Lobbying feesPrograms $2,933$2,933
IX-11f Investment management feesManagement $1,738,753$1,738,753
IX-11g Other fees for servicesPrograms $1,423,184 · Management $27,515 · Fundraising $6,931$1,457,630
IX-12 Advertising and promotionPrograms $862,823 · Management $41,428 · Fundraising $3,590$907,841
IX-13 Office expensesPrograms $1,225,053 · Management $125,089 · Fundraising $142,029$1,492,171
IX-14 Information technologyPrograms $1,639,025 · Management $171,453 · Fundraising $41,866$1,852,344
IX-16 OccupancyPrograms $3,301,666 · Management $44,684 · Fundraising $20,942$3,367,292
IX-17 TravelPrograms $18,684 · Management $920 · Fundraising $4,938$24,542
IX-19 Conferences, conventions and meetingsPrograms $122,281 · Management $10,142 · Fundraising $5,731$138,154
IX-20 InterestPrograms $1,283,239 · Management $67,539$1,350,778
IX-22 Depreciation, depletion and amortizationPrograms $4,183,465 · Management $367,777 · Fundraising $45,972$4,597,214
IX-23 InsuranceManagement $610,956$610,956
IX-24 Other expenses (24a–d)Programs $6,946,473 · Management $204,998 · Fundraising $90,700$7,242,171
IX-24e All other expensesPrograms −$1,743,309 · Management −$372,567 · Fundraising −$435,903−$2,551,779
IX-25 Total functional expensesPrograms $87,444,693 · Management $5,652,719 · Fundraising $1,543,382$94,640,794
Part X · Balance sheet $426,120,167 assets, 19 lines filed
Asset lines not itemized here account for $5,357,831; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $38,034,849$33,904,754
X-2 Savings and temporary cash investmentsStart of year $4,557,241$20,259,874
X-3 Pledges and grants receivableStart of year $2,391,424$2,940,791
X-4 Accounts receivableStart of year $1,295,571$2,347,316
X-8 Inventories for sale or useStart of year $351,140$290,521
X-10c Land, buildings and equipment, netStart of year $121,985,647$133,649,682
X-11 Publicly traded securitiesStart of year $134,195,775$171,719,627
X-12 Other securitiesStart of year $38,655,920$53,330,840
X-15 Other assetsStart of year $2,204,774$2,318,931
X-16 Total assetsStart of year $349,731,096$426,120,167
X-17 Accounts payable and accrued expensesStart of year $6,044,519$8,487,511
X-19 Deferred revenueStart of year $4,169,288$3,677,680
X-20 Tax-exempt bond liabilitiesStart of year $30,624,093$56,080,608
X-25 Other liabilitiesStart of year $16,452,932$12,727,359
X-26 Total liabilitiesStart of year $60,492,351$81,912,232
X-27 Net assets without donor restrictionsStart of year $134,712,909$179,312,143
X-28 Net assets with donor restrictionsStart of year $154,525,836$164,895,792
X-32 Total net assets or fund balancesStart of year $289,238,745$344,207,935
X-33 Total liabilities and net assetsStart of year $349,731,096$426,120,167
Part XI · Reconciliation of net assets $344,207,935 net assets at year end
XI-1 Total revenue$119,204,346
XI-2 Total expenses$94,640,794
XI-3 Revenue less expenses$24,563,552
XI-4 Net assets at start of year$289,238,745
XI-5 Net unrealized gains (losses) on investments$30,405,638
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$344,207,935

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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