Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 1964.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
69 cents of each dollar spent went to programs.
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
45 people listed on the 990; $1.9M paid to officers and key staff.
Jay P Dowd III’s $522K as President and CEO is at the 90th 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 | 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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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
Raises funds for scholarships, faculty, technology, and campus life at The Citadel.
Questions for The Citadel Foundation
Your first name shows with your question. The Citadel Foundation answers here, for everyone.
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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.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $20.4M | $15.2M |
| InvestmentsLn 11–13 | $256.8M | $280.4M |
| Land, buildings, equipmentLn 10c | $30K | $59K |
| Total assetsLn 16 | $315.1M | $332.3M |
| LiabilitiesLn 26 | $28.4M | $23.5M |
| Net assetsLn 32 | $286.7M | $308.8M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $24.3M | $24.3M | ||
| Pay of current officers, directors and key staffLn 5 | $886K | $224K | $662K | |
| Other salaries and wagesLn 7 | $4.2M | $1.1M | $3.2M | |
| Pension plan contributionsLn 8 | $396K | $100K | $296K | |
| Other employee benefitsLn 9 | $1.4M | $345K | $1.0M | |
| Payroll taxesLn 10 | $443K | $112K | $331K | |
| Accounting feesLn 11c | $103K | $92K | $11K | |
| Lobbying feesLn 11d | $233K | $233K | ||
| Investment management feesLn 11f | $1.5M | $1.5M | ||
| Other fees for servicesLn 11g | $70K | $63K | $7K | |
| Information technologyLn 14 | $453K | $135K | $318K | |
| OccupancyLn 16 | $206K | $70K | $136K | |
| TravelLn 17 | $392K | $62K | $329K | |
| InterestLn 20 | $208K | $208K | ||
| Depreciation, depletion and amortizationLn 22 | $88K | $88K | ||
| InsuranceLn 23 | $21K | $21K | ||
| Other expenses (24a–d)Ln 24 | $662K | −$8K | $671K | |
| Total functional expensesLn 25 | $35.6M | $24.6M | $4.0M | $6.9M |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest Viewing | $37.9M | $35.6M | $2.4M | $308.8M | 990 PDF |
| FY2023 | $33.6M | $34.5M | −$987K | $286.7M | 990 PDF |
| FY2022 | $31.6M | $24.6M | $7.1M | $285.6M | 990 PDF |
| FY2021 | $48.2M | $20.7M | $27.6M | $309.7M | 990 PDF |
| FY2020 | $33.1M | $24.3M | $8.9M | $261.5M | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $37,924,388 revenue, 12 lines filed
Part VI · Governance 31 of 31 board members independent, no flags
Part VIII · Statement of revenue $37,924,388 across 7 lines filed
Part IX · Statement of functional expenses $35,560,054 across 17 lines filed
Part X · Balance sheet $332,294,617 assets, 18 lines filed
Part XI · Reconciliation of net assets $308,830,699 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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