Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 1951.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
85 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
48 people listed on the 990; $5.0M paid to officers and key staff (Part VII, Section A).
Part VII, Section A · reportable compensation
Chief Investment Officer
$996,210Pt VII · Sec A
President
$597,223Pt VII · Sec A
Mens Basketball Coach
$489,816Pt VII · Sec A
Investment Director
$436,603Pt VII · Sec A
Former Mens Basketball Coach
$419,504Pt VII · Sec A
Asst Sec and VP of Fin & Admin
$409,147Pt VII · Sec A
VP of College Relations
$388,505Pt VII · Sec A
Director of Athletics
$387,431Pt VII · Sec A
VP for Acad Aff & Dean of Fac
$318,838Pt VII · Sec A
Assistant Sec. & General Counsel
$317,104Pt VII · Sec A
VP & Dean of Admission and Fa
$249,507Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Chair, Board of Trustees
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Assistant Secretary
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Vice Chair, Board of Trustees
$0Pt VII · Sec A
Secretary, Board of Trustees
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Raymond a Jacobson’s $996K as Chief Investment Officer is at the 75th 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
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Carol E Quillen | — | $378,315 | $484,254 | $1,040,381 | $448,791 | $430,964 |
| Raymond a Jacobson | $996,210 | $960,471 | $743,390 | $665,400 | $476,156 | $431,399 |
| Robert H McKillop | $419,504 | $412,907 | $490,557 | $728,985 | $653,569 | $644,984 |
| Douglas a Hicks | $597,223 | $536,811 | $236,298 | — | — | — |
| Matthew R McKillop | $489,816 | $463,662 | $285,971 | — | — | — |
| Bradley C Martin | — | — | — | $239,306 | $232,704 | $466,590 |
| David D Demeter | $436,603 | $408,504 | $351,908 | $323,266 | $254,369 | — |
| Antoinette P McCorvey | $409,147 | $430,584 | $348,615 | $355,622 | $325,628 | $333,793 |
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 Davidson College executive salaries →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
Provides a comprehensive undergraduate liberal arts education alongside essential student support services, including career counseling, medical care, financial aid, and community service programs.
Questions for Davidson College
Your first name shows with your question. Davidson College answers here, for everyone.
3 programs · $168.0M · in their own filed words · FY2024
01
Need-based and merit aid awarded to students.
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 56-0529961) · Dispute this line$76.5Mprogram expense
02
Instruction and academic programs leading to B.S. And B.A. Degrees for davidson students. This includes support of international students studying at davidson and davidson students studying abroad.
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 56-0529961) · Dispute this line$74.1Mprogram expense
03
Student support services including the college union, on-site medical care, student counseling, career services, community service programs and the offices of admission and financial aid.
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 56-0529961) · Dispute this line$17.5Mprogram 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
Uw Jean Mauze Charitable Trust 354869FY2025$334K
Charles a Cannon Charitable Trust No 3FY2025$249K
The Lowrance Family FoundationFY2025$235K
Charles L & Doris M Fonville FoundationFY2025$200K
Spartanburg County FoundationFY2025$55K
Manire Foundation 23-05811FY2025$22K
Corporation for Public BroadcastingFY2025$22K
Total grants receivedfrom 16 funders$1.2M
Grants paid · 6 grants · $548K · 2019–2024
Town of DavidsonFY2024$80,000
Town of DavidsonFY2023$168,350
Town of DavidsonFY2022$75,000
Town of DavidsonFY2021$75,000
Town of DavidsonFY2020$75,000
Town of DavidsonFY2019$75,000
Federal money
Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Jun 2025 · $8.3M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$3.5M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$2.6M
Biomedical Research and Research TrainingDepartment of Health and Human Services · ALN 93.859 · Direct$423K
Drug Use and Addiction Research ProgramsDepartment of Health and Human Services · ALN 93.279 · Direct$365K
Mathematical and Physical SciencesNational Science Foundation · ALN 47.049 · Direct$352K
Plus 13 smaller programs.
The auditor reported no findings.
Year ending Jun 2024 · $7.7M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$3.7M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$2.0M
Drug Use and Addiction Research ProgramsDepartment of Health and Human Services · ALN 93.279 · Direct and through Albany Medical Center$603K
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$286K
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$216K
Plus 13 smaller programs.
The auditor reported 2 findings: a weakness in money controls.
Year ending Jun 2023 · $7.5M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$3.8M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$1.8M
Drug Abuse and Addiction Research ProgramsDepartment of Health and Human Services · ALN 93.279 · Direct$441K
Social, Behavioral, and Economic SciencesNational Science Foundation · ALN 47.075 · Direct$278K
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$265K
Plus 10 smaller programs.
The auditor reported no findings.
Year ending Jun 2022 · $16.2M federal money spent
Disaster Grants - Public Assistance (presidentially Declared Disasters)Department of Homeland Security · ALN 97.036 · Direct$5.9M
Education Stabilization FundDepartment of Education · ALN 84.425 · Direct$3.6M
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$3.4M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$1.6M
Drug Abuse and Addiction Research ProgramsDepartment of Health and Human Services · ALN 93.279 · Direct$392K
Plus 13 smaller programs.
The auditor reported 1 finding: a weakness in money controls.
By the numbers
The FY2025 990, line by line.
Download 990
1The main four
Money inPt VIII
$296.0M
Ln 12
Fees for servicesLn 2g$129.6M
Gifts and grantsLn 1h$77.6M
Investment incomeLn 3$61.7M
Money outPt IX
$228.2M
Ln 25
Programscol B$194.5M
Managementcol C$21.8M
Fundraisingcol D$12.0M
Owns and owesPt X
$1.9B
net assets · Ln 32
Cash and savingsLn 1–2$106.3M
Total assetsLn 16$2.0B
LiabilitiesLn 26$157.6M
PeoplePt VI, VII
48
listed · VII A
PaidVII A11
Voting boardVI 1a37
IndependentVI 1b35
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$77.6M
Government grantsLn 1e$3.2M
Noncash giftsLn 1g$17.1M
Fees for servicesLn 2g$129.6M
Investment incomeLn 3$61.7M
Other incomeLn 4–11$27.1M
Gains on assetsLn 7$20.6M
Total revenueLn 12$296.0M
Assets in detailPt X, end of year
SavingsLn 2$106.3M
Cash and savings togetherLn 1–2$106.3M
Pledges and grants receivableLn 3$96.6M
Accounts receivableLn 4$8.4M
Notes and loans receivableLn 7$1.2M
Inventories for sale or useLn 8$1.1M
Prepaid expenses and deferred chargesLn 9$3.0M
Land, buildings, equipmentLn 10c$369.8M
InvestmentsLn 11–13$1.38B
Other assetsLn 15$36.4M
Total assetsLn 16$2.0B
LiabilitiesLn 26$157.6M
Net assetsLn 32$1.9B
OperationsPt I, VI
EmployeesI 52,574
VolunteersI 69,324
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
Abroad and in kindSch F, M
Noncash gifts receivedSch M Pt I$17.1M
Investment feesPt IX, Sch D
Investment fees, as reportedPt IX 11f$2.7M
Share of the $1.46B endowmentSch D 1g0.19%
Typical, median of 2,202 orgs0.44%
EndowmentSch D · Pt V
| Line | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|
| End of yearLn 1g | $1.46B | $1.37B | $1.32B | $1.32B | $1.34B |
| AddedLn 1b | $26.0M | $33.9M | $38.9M | $41.2M | $48.9M |
| SpentLn 1d–1f | $62.3M | $56.5M | $52.5M | $46.3M | $42.5M |
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $85.5M | $106.3M |
| InvestmentsLn 11–13 | $1.31B | $1.38B |
| Land, buildings, equipmentLn 10c | $356.0M | $369.8M |
| Total assetsLn 16 | $1.90B | $2.01B |
| LiabilitiesLn 26 | $154.6M | $157.6M |
| Net assetsLn 32 | $1.74B | $1.85B |
5Every line
Statement of functional expensesPt IX · every line
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $80K | $80K | ||
| Grants to domestic individualsLn 2 | $76.5M | $76.5M | ||
| Pay of officers and key staff (Part IX, line 5)Ln 5 | $3.5M | $848K | $2.7M | |
| Other salaries and wagesLn 7 | $71.1M | $60.3M | $4.4M | $6.4M |
| Pension plan contributionsLn 8 | $5.6M | $4.7M | $393K | $516K |
| Other employee benefitsLn 9 | $8.9M | $6.0M | $2.3M | $523K |
| Payroll taxesLn 10 | $5.1M | $4.2M | $470K | $443K |
| Legal feesLn 11b | $471K | $136K | $335K | |
| Accounting feesLn 11c | $333K | $11K | $321K | |
| Professional fundraising feesLn 11e | $121K | $121K | ||
| Investment management feesLn 11f | $2.7M | $2.7M | ||
| Other fees for servicesLn 11g | $6.7M | $4.8M | $1.7M | $252K |
| Advertising and promotionLn 12 | $442K | $186K | $231K | $26K |
| Office expensesLn 13 | $7.3M | $6.0M | $631K | $697K |
| Information technologyLn 14 | $3.8M | $1.1M | $1.4M | $1.3M |
| RoyaltiesLn 15 | $2K | $687 | $854 | |
| OccupancyLn 16 | $4.2M | $3.9M | $200K | $144K |
| TravelLn 17 | $7.4M | $7.0M | $185K | $266K |
| Conferences, conventions and meetingsLn 19 | $2.4M | $1.2M | $196K | $1.0M |
| InterestLn 20 | $2.0M | $1.9M | $165K | |
| Depreciation, depletion and amortizationLn 22 | $11.2M | $10.3M | $907K | |
| InsuranceLn 23 | $1.5M | $158K | $1.4M | |
| Other expenses (24a–d)Ln 24 | $6.7M | $5.3M | $1.2M | $214K |
| All other expensesLn 24e | $0 | $0 | $0 | $0 |
| Total functional expensesLn 25 | $228.2M | $194.5M | $21.8M | $12.0M |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest ViewingFiled with the IRS May 14, 2026 | $296.0M | $228.2M | $67.7M | $1.9B | 990 PDF |
| FY2024Filed with the IRS May 14, 2025 | $270.0M | $213.9M | $56.1M | $1.7B | 990 PDF |
| FY2023Filed with the IRS May 15, 2024 | $202.4M | $193.1M | $9.2M | $1.6B | 990 PDF |
| FY2022Filed with the IRS May 15, 2023 | $353.4M | $173.7M | $179.7M | $1.6B | 990 PDF |
| FY2021Filed with the IRS May 13, 2022 | $194.8M | $180.5M | $14.2M | $1.6B | 990 PDF |
| FY2020Filed with the IRS May 17, 2021 | $201.7M | $167.8M | $33.9M | $1.2B | 990 PDF |
Schedules filed Part IV
A · Public support
B · Donors
D · Assets and endowments
E · Schools
F · Foreign
G · Fundraising
I · Grants
J · Pay
L · Interested persons
M · Noncash
O · Explanations
R · Related orgs
See the full FY2025 990
Part I · Summary $295,951,405 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $99,528,995$77,600,119
I-9 Program service revenuePrior year $120,938,493$129,609,416
I-10 Investment incomePrior year $43,501,319$82,297,628
I-11 Other revenuePrior year $6,015,789$6,444,242
I-12 Total revenuePrior year $269,984,596$295,951,405
I-13 Grants and similar amounts paidPrior year $71,018,627$76,583,631
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $87,265,106$94,224,966
I-16a Professional fundraising feesPrior year $76,306$121,358
I-17 Other expensesPrior year $55,558,256$57,291,754
I-18 Total expensesPrior year $213,918,295$228,221,709
I-19 Revenue less expensesPrior year $56,066,301$67,729,696
Part VI · Governance 35 of 37 board members independent, no flags
VI-1a Voting members of the governing body37
VI-1b Independent voting members35
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 $295,951,405 across 9 lines filed
Lines not itemized here account for $1,361,856 of total revenue; see the IRS return.
VIII-1e Government grants$3,249,733
VIII-1f All other contributions, gifts and grants$74,350,386
VIII-1g Noncash contributions (included above)$17,086,888
VIII-1h Total contributions, gifts and grants$77,600,119
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $129,609,416$129,609,416
VIII-3 Investment incomeUnrelated business −$3,393,537 · Excluded from tax $65,075,402$61,681,865
VIII-7 Net gain or loss on sales of assetsExcluded from tax $20,615,763$20,615,763
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $4,660,203 · Excluded from tax $422,183$5,082,386
VIII-12 Total revenueRelated to mission $135,567,855 · Unrelated business −$3,329,917 · Excluded from tax $86,113,348$295,951,405
Part IX · Statement of functional expenses $228,221,709 across 24 lines filed
IX-1 Grants to domestic organizationsPrograms $80,000$80,000
IX-2 Grants to domestic individualsPrograms $76,503,631$76,503,631
IX-5 Pay of officers and key staff (Part IX, line 5)Programs $847,659 · Management $2,656,461$3,504,120
IX-7 Other salaries and wagesPrograms $60,297,863 · Management $4,419,961 · Fundraising $6,398,337$71,116,161
IX-8 Pension plan contributionsPrograms $4,698,177 · Management $393,220 · Fundraising $515,861$5,607,258
IX-9 Other employee benefitsPrograms $6,034,239 · Management $2,315,001 · Fundraising $523,038$8,872,278
IX-10 Payroll taxesPrograms $4,212,211 · Management $470,401 · Fundraising $442,537$5,125,149
IX-11b Legal feesPrograms $135,902 · Management $335,457$471,359
IX-11c Accounting feesPrograms $11,461 · Management $321,161$332,622
IX-11e Professional fundraising feesFundraising $121,358$121,358
IX-11f Investment management feesManagement $2,736,226$2,736,226
IX-11g Other fees for servicesPrograms $4,752,877 · Management $1,651,221 · Fundraising $251,697$6,655,795
IX-12 Advertising and promotionPrograms $185,571 · Management $230,579 · Fundraising $25,715$441,865
IX-13 Office expensesPrograms $5,974,707 · Management $631,371 · Fundraising $696,775$7,302,853
IX-14 Information technologyPrograms $1,098,579 · Management $1,386,205 · Fundraising $1,325,029$3,809,813
IX-15 RoyaltiesPrograms $687 · Management $854$1,541
IX-16 OccupancyPrograms $3,891,967 · Management $199,814 · Fundraising $143,518$4,235,299
IX-17 TravelPrograms $6,951,516 · Management $185,427 · Fundraising $266,307$7,403,250
IX-19 Conferences, conventions and meetingsPrograms $1,165,078 · Management $196,450 · Fundraising $1,048,521$2,410,049
IX-20 InterestPrograms $1,874,633 · Management $165,372$2,040,005
IX-22 Depreciation, depletion and amortizationPrograms $10,278,879 · Management $906,730$11,185,609
IX-23 InsurancePrograms $158,331 · Management $1,358,568$1,516,899
IX-24 Other expenses (24a–d)Programs $5,336,731 · Management $1,197,824 · Fundraising $214,014$6,748,569
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $194,490,699 · Management $21,758,303 · Fundraising $11,972,707$228,221,709
Part X · Balance sheet $2,007,739,234 assets, 23 lines filed
X-2 Savings and temporary cash investmentsStart of year $85,521,481$106,292,235
X-3 Pledges and grants receivableStart of year $94,762,187$96,568,032
X-4 Accounts receivableStart of year $6,962,595$8,421,728
X-5 Loans to officers and key people$0
X-6 Loans to other insiders$0
X-7 Notes and loans receivableStart of year $1,485,424$1,208,501
X-8 Inventories for sale or useStart of year $1,036,569$1,137,462
X-9 Prepaid expenses and deferred chargesStart of year $3,185,160$2,986,983
X-10c Land, buildings and equipment, netStart of year $355,951,447$369,754,276
X-11 Publicly traded securitiesStart of year $40,003,734$35,543,358
X-12 Other securitiesStart of year $1,270,825,435$1,349,381,352
X-15 Other assetsStart of year $35,401,590$36,445,307
X-16 Total assetsStart of year $1,895,135,622$2,007,739,234
X-17 Accounts payable and accrued expensesStart of year $34,462,250$38,733,556
X-22 Loans from officers and insiders$0
X-23 Secured mortgages and notes payableStart of year $92,250,000$90,565,000
X-24 Unsecured notes and loans payableStart of year $12,650,000$12,650,000
X-25 Other liabilitiesStart of year $15,253,696$15,693,593
X-26 Total liabilitiesStart of year $154,615,946$157,642,149
X-27 Net assets without donor restrictionsStart of year $425,129,729$432,354,052
X-28 Net assets with donor restrictionsStart of year $1,315,389,947$1,417,743,033
X-32 Total net assets or fund balancesStart of year $1,740,519,676$1,850,097,085
X-33 Total liabilities and net assetsStart of year $1,895,135,622$2,007,739,234
Part XI · Reconciliation of net assets $1,850,097,085 net assets at year end
XI-1 Total revenue$295,951,405
XI-2 Total expenses$228,221,709
XI-3 Revenue less expenses$67,729,696
XI-4 Net assets at start of year$1,740,519,676
XI-5 Net unrealized gains (losses) on investments$43,890,845
XI-9 Other changes in net assets−$2,043,132
XI-10 Net assets at end of year$1,850,097,085
Form 990 e-file FY2025 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File
Similar organizations you could support · Compare with another nonprofit
The names, titles, and financial information shown on this page are reproduced from IRS Form 990 filings, which are public records. More
Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown. A filing can only be corrected by the organization filing an amended return with the IRS; the corrected information appears here at our next update.
We publish only information contained in the public IRS filing, and less than the filing contains. Our pages do not display home addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.
Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.
If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.
Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.
If you believe the IRS filing itself is inaccurate, contact the filing organization or the IRS directly.