The Citadel Foundation
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Raises funds for scholarships, faculty, technology, and campus life at The Citadel. For fiscal year 2024 it reported $37.9M in revenue, $35.6M in expenses, and $308.8M in net assets.Pt I
Summary of the Filing
Where the work happens
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.
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.
Academic 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.
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Identity & Classification
Governance & Policies
Officers, Directors & Key Employees
Jay P Dowd III’s $522K as President and CEO is at the 90th percentile of top reported officer pay among 3682 $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 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Jay P Dowd III | $522,355 | $505,694 | $453,846 | $411,848 | — |
| John Paul Dowd III | — | — | — | — | $383,406 |
| Shannon N Mease | $363,338 | $329,400 | $298,341 | $254,138 | — |
| Jonathan Kresken | $257,933 | $251,388 | $242,644 | $223,901 | — |
| Gaylord Greene | $229,863 | — | — | — | $200,881 |
| Shannon Mease | — | — | — | — | $226,291 |
| Gaylord W Green | — | $218,393 | — | — | — |
| Gaylord W Greene | — | — | $215,513 | $205,537 | — |
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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Statement of Revenue
Statement of Functional Expenses
Balance Sheet
Financial Metrics
Same NTEE category, revenue band, and state where available. Descriptive — not a grade.
| Metric | This org | Peer median | Percentile |
|---|---|---|---|
| Program ratio | 69% | — | — |
| Overhead ratio | 11% | — | — |
| Fundraising cost ratio | 26% | — | — |
| Revenue growth | 13% | — | — |
| Investment management fee ratio | 0% | — | — |
| Accounting fee ratio | 0% | — | — |
Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.
Grants
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Filings & Schedule Manifest
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Sources
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