Davis & Elkins College: Nonprofit Profile, Financials & Form 990 (EIN 55-0357021)

Revenue by fiscal year
FY2020	$39.1M
FY2021	$52.6M
FY2022	$34.4M
FY2023	$55.4M
FY2024	$37.9M
FY2025	$37.0M

Expenses by fiscal year
FY2020	$35.5M
FY2021	$33.3M
FY2022	$34.6M
FY2023	$37.2M
FY2024	$39.1M
FY2025	$40.3M

Net assets by fiscal year
FY2020	$80.7M
FY2021	$110.5M
FY2022	$99.7M
FY2023	$120.7M
FY2024	$125.7M
FY2025	$125.1M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1954.

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

Where the money goes

88 cents of each dollar spent went to programs.

88%

Program services 88% · $35.3M Management & general 10% · $4.0M Fundraising 2% · $975K

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

29 people listed on the 990; $797K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

Mr Chris a Wood

President

$251,950Pt VII · Sec A

Diana L White

VP for Business and Administration

$143,571Pt VII · Sec A

Robert J Phillips

Provost and VP for Academi

$113,750Pt VII · Sec A

Scott D Goodard

VP for Institutional Advan

$110,500Pt VII · Sec A

Jennifer S Riggleman

Athletic Director

$96,366Pt VII · Sec A

Katherine M Garlick

Dead of Students

$80,480Pt VII · Sec A

Mr James Bialek

Board Trustee

$0Pt VII · Sec A

Ms Sarah Biller

Board Trustee

$0Pt VII · Sec A

Mr Chris a Wood’s $252K as President is at the 53rd percentile of top reported officer pay among 3683 $10–100M 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

Name	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Mr Chris a Wood	$251,950	$233,997	$225,911	$235,200	$232,107	$230,306
Rosemary M Thomas	—	$149,531	$148,084	$141,000	$138,894	$138,000
Diana L White	$143,571	—	—	—	—	—
Robert J Phillips	$113,750	$126,400	$120,164	$127,000	$123,025	$119,500
Scott D Goodard	$110,500	$107,238	$106,106	$96,000	$91,025	$90,000
Jennifer S Riggleman	$96,366	—	—	—	—	—
Robert O Hardman	—	$94,610	$92,870	$91,000	$91,505	$87,869
Katherine M Garlick	$80,480	—	—	—	—	—

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.

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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

Inspiring students for success and thoughtful engagement in the world.

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Provided by the organization

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1 program · $35.3M · in their own filed words · FY2024

01

Education

Provide higher education to students.

$35.3Mprogram 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

West Virginia Emulation Endowment TrustFY2025$24K

Allen C Nydegger TrustFY2025$5K

Total grants receivedfrom 2 funders$29K

Grants paid · 11 grants · $67.8M · 2019–2024

Unitemized GrantFY2024$13,819,407

Unitemized GrantFY2024$186,884

Unitemized GrantFY2023$14,001,923

Unitemized GrantFY2023$184,027

Unitemized GrantFY2022$12,922,062

Unitemized GrantFY2022$198,872

Unitemized GrantFY2021$12,731,045

Unitemized GrantFY2021$195,956

Unitemized GrantFY2020$13,329,940

Unitemized GrantFY2020$124,768

Unitemized GrantFY2019$132,637

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$37.0M

Ln 12

Fees for servicesLn 2g$27.7M

Gifts and grantsLn 1h$5.2M

Investment incomeLn 3$3.2M

Money outPt IX

$40.3M

Ln 25

Programscol B$35.3M

Managementcol C$4.0M

Fundraisingcol D$975K

Owns and owesPt X

$125.1M

net assets · Ln 32

Cash and savingsLn 1–2$1.9M

Total assetsLn 16$131.4M

LiabilitiesLn 26$6.3M

PeoplePt VI, VII

29

listed · VII A

PaidVII A6

Voting boardVI 1a24

IndependentVI 1b23

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$5.2M

Government grantsLn 1e$118K

Noncash giftsLn 1g$5.0M

Fees for servicesLn 2g$27.7M

Investment incomeLn 3$3.2M

Other incomeLn 4–11$961K

Gains on assetsLn 7$1.5M

Total revenueLn 12$37.0M

Assets in detailPt X, end of year

CashLn 1$1.9M

Cash and savings togetherLn 1–2$1.9M

InvestmentsLn 11–13$63.1M

Land, buildings, equipmentLn 10c$53.2M

Other assetsLn 15$6.2M

Total assetsLn 16$131.4M

LiabilitiesLn 26$6.3M

Net assetsLn 32$125.1M

OperationsPt I, VI

EmployeesI 5629

VolunteersI 60

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

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$2.9M	$1.9M
InvestmentsLn 11–13	$61.3M	$63.1M
Land, buildings, equipmentLn 10c	$47.9M	$53.2M
Total assetsLn 16	$130.3M	$131.4M
LiabilitiesLn 26	$4.6M	$6.3M
Net assetsLn 32	$125.7M	$125.1M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$14.0M	$14.0M
Pay of current officers, directors and key staffLn 5	$960K	$331K	$284K	$346K
Other salaries and wagesLn 7	$9.1M	$7.7M	$1.0M	$306K
Pension plan contributionsLn 8	$276K	$232K	$34K	$10K
Other employee benefitsLn 9	$1.7M	$1.4M	$157K	$60K
Payroll taxesLn 10	$621K	$518K	$80K	$23K
Investment management feesLn 11f	$285K		$285K
Other fees for servicesLn 11g	$140K		$140K
Office expensesLn 13	$1.3M	$961K	$289K	$41K
OccupancyLn 16	$1.4M	$1.3M	$11K	$44K
TravelLn 17	$331K	$292K	$6K	$34K
InterestLn 20	$8K	$5K	−$151	$4K
Depreciation, depletion and amortizationLn 22	$3.2M	$3.0M	$240K	$41K
Other expenses (24a–d)Ln 24	$6.9M	$5.7M	$1.2M	$60K
All other expensesLn 24e	$140K	−$64K	$197K	$7K
Total functional expensesLn 25	$40.3M	$35.3M	$4.0M	$975K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$37.0M	$40.3M	−$3.3M	$125.1M	990 PDF
FY2024	$37.9M	$39.1M	−$1.2M	$125.7M	990 PDF
FY2023	$55.4M	$37.2M	$18.2M	$120.7M	990 PDF
FY2022	$34.4M	$34.6M	−$241K	$99.7M	990 PDF
FY2021	$52.6M	$33.3M	$19.3M	$110.5M	990 PDF
FY2020	$39.1M	$35.5M	$3.6M	$80.7M	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 FY2025 990 (6 parts)

Part I · Summary $37,048,169 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $6,170,263$5,188,118

I-9 Program service revenuePrior year $27,060,624$27,654,776

I-10 Investment incomePrior year $4,006,237$3,244,183

I-11 Other revenuePrior year $680,606$961,092

I-12 Total revenuePrior year $37,917,730$37,048,169

I-13 Grants and similar amounts paidPrior year $14,185,950$14,006,291

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $12,341,802$12,573,625

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $12,579,895$13,737,449

I-18 Total expensesPrior year $39,107,647$40,317,365

I-19 Revenue less expensesPrior year −$1,189,917−$3,269,196

Part VI · Governance 23 of 24 board members independent, no flags

VI-1a Voting members of the governing body24

VI-1b Independent voting members23

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 $37,048,169 across 10 lines filed

Lines not itemized here account for $68,625 of total revenue; see the IRS return.

VIII-1e Government grants$118,046

VIII-1f All other contributions, gifts and grants$5,070,072

VIII-1g Noncash contributions (included above)$5,017,590

VIII-1h Total contributions, gifts and grants$5,188,118

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $27,284,298 · Unrelated business $370,478$27,654,776

VIII-3 Investment incomeExcluded from tax $1,770,836$1,770,836

VIII-7 Net gain or loss on sales of assetsExcluded from tax $1,473,347$1,473,347

VIII-8 Net income from fundraising eventsExcluded from tax $8,836$8,836

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $883,631$883,631

VIII-12 Total revenueRelated to mission $28,167,929 · Unrelated business $370,478 · Excluded from tax $3,321,644$37,048,169

Part IX · Statement of functional expenses $40,317,365 across 15 lines filed

IX-2 Grants to domestic individualsPrograms $14,006,291$14,006,291

IX-5 Pay of current officers, directors and key staffPrograms $330,767 · Management $283,591 · Fundraising $346,122$960,480

IX-7 Other salaries and wagesPrograms $7,694,613 · Management $1,049,908 · Fundraising $306,220$9,050,741

IX-8 Pension plan contributionsPrograms $231,964 · Management $33,960 · Fundraising $9,983$275,907

IX-9 Other employee benefitsPrograms $1,449,127 · Management $156,588 · Fundraising $59,963$1,665,678

IX-10 Payroll taxesPrograms $517,702 · Management $79,691 · Fundraising $23,426$620,819

IX-11f Investment management feesManagement $285,000$285,000

IX-11g Other fees for servicesManagement $140,248$140,248

IX-13 Office expensesPrograms $960,633 · Management $288,732 · Fundraising $40,731$1,290,096

IX-16 OccupancyPrograms $1,315,370 · Management $11,156 · Fundraising $43,518$1,370,044

IX-17 TravelPrograms $291,655 · Management $5,888 · Fundraising $33,619$331,162

IX-20 InterestPrograms $4,929 · Management −$151 · Fundraising $3,519$8,297

IX-22 Depreciation, depletion and amortizationPrograms $2,951,669 · Management $239,813 · Fundraising $41,132$3,232,614

IX-24 Other expenses (24a–d)Programs $5,651,376 · Management $1,229,210 · Fundraising $59,564$6,940,150

IX-24e All other expensesPrograms −$63,603 · Management $196,550 · Fundraising $6,891$139,838

IX-25 Total functional expensesPrograms $35,342,493 · Management $4,000,184 · Fundraising $974,688$40,317,365

Part X · Balance sheet $131,437,547 assets, 17 lines filed

X-1 Cash, non-interest-bearingStart of year $2,850,594$1,857,568

X-3 Pledges and grants receivableStart of year $7,044,780$5,502,168

X-4 Accounts receivableStart of year $1,233,644$1,489,960

X-8 Inventories for sale or useStart of year $68,700$75,341

X-10c Land, buildings and equipment, netStart of year $47,918,068$53,191,504

X-11 Publicly traded securitiesStart of year $59,188,897$61,894,603

X-12 Other securitiesStart of year $2,091,514$1,254,296

X-15 Other assetsStart of year $9,941,930$6,172,107

X-16 Total assetsStart of year $130,338,127$131,437,547

X-17 Accounts payable and accrued expensesStart of year $3,419,854$2,141,347

X-19 Deferred revenueStart of year $405,971$429,274

X-25 Other liabilitiesStart of year $503,213$2,963,370

X-26 Total liabilitiesStart of year $4,621,180$6,333,991

X-27 Net assets without donor restrictionsStart of year $32,277,075$23,830,788

X-28 Net assets with donor restrictionsStart of year $93,439,872$101,272,768

X-32 Total net assets or fund balancesStart of year $125,716,947$125,103,556

X-33 Total liabilities and net assetsStart of year $130,338,127$131,437,547

Part XI · Reconciliation of net assets $125,103,556 net assets at year end

XI-1 Total revenue$37,048,169

XI-2 Total expenses$40,317,365

XI-3 Revenue less expenses−$3,269,196

XI-4 Net assets at start of year$125,716,947

XI-5 Net unrealized gains (losses) on investments$2,274,196

XI-9 Other changes in net assets$381,609

XI-10 Net assets at end of year$125,103,556

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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