THE CITADEL FOUNDATION Charity Report

Public IRS 990 nonprofit record

THE CITADEL FOUNDATION

EIN 57-6020493 · Education (B110)

What they do

THE CITADEL FOUNDATION is A NONPROFIT ORGANIZATION CREATED to RAISE FUNDS for THE CITADEL. GIFTS FROM ALUMNI and FRIENDS, CORPORATIONS, FOUNDATIONS, and OTHER ORGANIZATIONS PROVIDE RESOURCES THAT THE COLLEGE USES to AWARD SCHOLARSHIPS, RECRUIT and RETAIN OUTSTANDING STUDENTS and PROFESSORS, PROVIDE THEM WITH STATE-OF-THE-ART TECHNOLOGY and FACILITIES, and ENRICH CAMPUS LIFE THROUGH ATHLETIC and CULTURAL ACTIVITIES. THE TOP THREE AREAS of FOCUS of THE CITADEL FOUNDATION ARE to PROVIDE UNRESTRICTED SUPPORT to THE CITADEL, INCREASE SCHOLARSHIP FUNDS, and SUSTAIN ENRICHMENT PROGRAMS for THE SOUTH CAROLINA CORPS of CADETS and GRADUATE STUDENTS.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $69.10 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders45 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

64.79%of revenue went to mission work69.1% of expenses · Program services

18.30%of revenue went to fundraising19.5% of expenses

$93.77spent for every $100 of revenueRevenue covered expenses this year.

10.67%of revenue went to management and office costs11.4% of expenses

$9.34in assets for every $1 spent this yearSome assets cannot be spent right away.

70.7%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $609,937 for JAY P DOWD III (PRESIDENT AND CEO). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$37,924,388

Mission workProgram services$24,570,35264.79% of revenue69.1% of expenses

ManagementOffice and general costs$4,048,23410.67% of revenue11.4% of expenses

FundraisingAsking for donations$6,941,46818.30% of revenue19.5% of expenses

Revenue left after expensesReported annual surplus$2,364,3346.23% of revenueShown in gray on the chart

Total expenses$35,560,05493.77% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 69.1% mission · 11.4% management · 19.5% fundraisingTotal expenses: 93.77% of revenue

2023Expense mix: 74.1% mission · 6.6% management · 19.3% fundraisingTotal expenses: 102.94% of revenue

2022Expense mix: 69.3% mission · 8.5% management · 22.2% fundraisingTotal expenses: 77.71% of revenue

2021Expense mix: 68.1% mission · 10.1% management · 21.8% fundraisingTotal expenses: 42.84% of revenue

2020Expense mix: 73.5% mission · 7.7% management · 18.7% fundraisingTotal expenses: 73.22% of revenue

2019Expense mix: 77.2% mission · 6.0% management · 16.8% fundraisingTotal expenses: 110.44% of revenue

2018Expense mix: 71.9% mission · 6.4% management · 21.6% fundraisingTotal expenses: 119.18% of revenue

2017Expense mix: 68.3% mission · 10.4% management · 21.3% fundraisingTotal expenses: 40.29% of revenue

Money in and money out

Revenue$37,924,388

Expenses$35,560,054

Annual surplus $2,364,334 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$24,570,352 · 69.1% of expenses

Management and office costs$4,048,234 · 11.4% of expenses

Fundraising$6,941,468 · 19.5% of expenses

See all reported dollar amounts

Revenue$37,924,388

Expenses$35,560,054

Assets$332,294,617

Income$41,443,724

Contributions$26,806,005

Mission work (program services)$24,570,352

Fundraising$6,941,468

Grants given$136,397,151

Average grant$13,639,715

Management and general$4,048,234

Executive compensation (total)$609,697

Accounting fees$102,976

Investing fees$1,467,612

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

JAY P DOWD IIIPRESIDENT AND CEO · 40 hrs/week $609,937Base $522,355 · Other $87,582

SHANNON N MEASECOO/CFO · 40 hrs/week $445,870Base $363,338 · Other $82,532

JONATHAN KRESKENVP LEGACY, ANNUAL & REUNION GIVING · 40 hrs/week $329,113Base $257,933 · Other $71,180

GAYLORD GREENEVP ATHLETIC DEVELOPMENT · 40 hrs/week $265,942Base $229,863 · Other $36,079

ASHLEY SANTOSASSOC. VP, PRINCIPAL GIVING · 40 hrs/week $240,359Base $170,294 · Other $70,065

ROBERT STEPHENSONASSOC. VP FOR MAJOR GIFTS · 40 hrs/week $224,087Base $155,989 · Other $68,098

JODI COLLINSCONTROLLER · 40 hrs/week $214,507Base $185,885 · Other $28,622

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (45)

JAY P DOWD IIIPRESIDENT AND CEO

SHANNON N MEASECOO/CFO

JONATHAN KRESKENVP LEGACY, ANNUAL & REUNION GIVING

GAYLORD GREENEVP ATHLETIC DEVELOPMENT

ASHLEY SANTOSASSOC. VP, PRINCIPAL GIVING

ROBERT STEPHENSONASSOC. VP FOR MAJOR GIFTS

JODI COLLINSCONTROLLER

MR JOSEPH J KEENANREAL ESTATE COMMITTEE CHAIR

MR J TODD WATKINSBOARD MEMBER

MR L WILLIAM KRAUSEBOARD MEMBER

MR L WILLIAM VARNERJR-BEG0424BOARD MEMBER

MR LUTHER C KISSAM IVVICE CHAIRMAN, DEV/OMC COMMITTEE CHAIR

MR NORMAN POOLE JR-THRU 1124BOARD MEMBER

MR PETER SULICK JRBOARD MEMBER

MR RAFAEL R COSTAS JRBOARD MEMBER

MR RICHARD SANDERSJR-THRU0424BOARD MEMBER

MR ROBERT R HILL JRGRANTS COMMITTEE CHAIR

MR STEPHEN L DAVISBOARD MEMBER

MR TOMMY B BAKERNOMINATIONS/COMP COMMITTEE CHAIR

MR W HENRY JOHNSON-THRU 0424BOARD MEMBER

MR WILLIAM S STAFFORD-BEG 1124BOARD MEMBER

MRS MARINA DANIEL BUESCHERTREASURER/SECRETARY

MS AMANDA M ORSON-BEG 0424BOARD MEMBER

MS M RUSSELL HOLLIDAY JRBOARD MEMBER

RADM STEPHEN C EVANS-BEG 0424BOARD MEMBER

MR BRETT S MILLER-BEG 0424BOARD MEMBER

COL ALVIN A PERKINS USA RETBOARD MEMBER

COL F G DELLENEY JRBOARD MEMBER

COL THOMAS L HENDRICKSUSAF RETAUDIT COMMITTEE CHAIR

DR CHRISTOPHER C SWAINBOARD MEMBER

DR LOUIS E COSTA IIBOARD MEMBER

GEN GLENN M WALTERS USMC RETBOARD MEMBER

LT COL WILLIAM R CULLBREATH JR USBOARD MEMBER

MR A FOSTER MCKISSICK IIIBOARD MEMBER

MR ANDERSON D WARLICKEMERITUS

MR JAMES W REED - THRU 0424BOARD MEMBER

MR CHARLES B COEBOARD MEMBER

MR CHARLES B LAWLESSINVESTMENT COMMITTEE CHAIR

MR CHRISTOPHER C SULLIVANBOARD MEMBER

MR CLAUDIUS E WATTS IVBOARD MEMBER

MR DANIEL MCQUEENEY-THRU 0424BOARD MEMBER

MR DAVID D AUGHTRYBOARD MEMBER

MR J BRICE OBRIENBOARD MEMBER

MR JAMES A KING II-THRU 0424BOARD MEMBER

MR JAMES J ETHRIDGE JRCHAIRMAN, EXEC COMMITTEE CHAIR

About this charity

Recognized since: January 1964
Location: 171 MOULTRIE STREET, CHARLESTON, SC 29409
County: Charleston
In care of: SHANNON MEASE
Primary officer: SHANNON MEASE, CHIEF FINANCIAL OFFICER

How to reach them

WebsiteVisit the charity’s website Emailgive@citadelfoundation.org Phone(843) 953-6914

Filing and classification

Latest tax year: 2024
Tax period began: January 1, 2024
Return type: 990
Tax preparer: ELLIOTT DAVIS ADVISORY LLC
NTEE classification: Education (B110)
IRS tax category: Other Grantmaking and Giving Services
Grant-giving organization: Yes