Randolph-Macon College
- Assets
- $426.1m
- Revenue
- $119.2m
- Investments
- $53.3m
- Employees
- 1,126
- Location
- Ashland, VA
- Founding
- 05/1923
- Data as of
- 06/2021
- EIN
- 54-0505940
Organization Overview
Randolph-Macon College is located in Ashland, VA. The organization was established in 1923. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2021, Randolph-Macon College employed 1,126 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Randolph-Macon College is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Randolph-Macon College generated $119.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $94.6m during the year ending 06/2021. While expenses have increased by 3.2% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
A RANDOLPH-MACON COLLEGE LIBERAL ARTS EDUCATION DEVELOPS THE MIND AND CHARACTER OF EACH STUDENT.
Describe the Organization's Program Activity:
RANDOLPH-MACON COLLEGE IS AN INSTITUTION OF HIGHER EDUCATION PROVIDING A FOUR YEAR LIBERAL ARTS CURRICULUM TO APPROXIMATELY 1,455 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert R Lindgren ESQ President | OfficerTrustee | 40 | $286,849 |
Alisa J Rosenthal Provost | Officer | 40 | $171,993 |
David L Lesesne Edd VP Enrollment | Officer | 40 | $167,984 |
Paul T Davies VP Admin & Finance, Treasu | Officer | 40 | $165,741 |
Diane M Lowder ESQ VP Advancement | Officer | 40 | $161,870 |
Cynthia Rubenstein Staff | 40 | $147,516 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
English Construction Co Inc Construction Services | 6/29/21 | $11,873,199 |
Chartwells Food Services | 6/29/21 | $3,182,782 |
Cpl Architectural Services | 6/29/21 | $362,235 |
Riddleberger Brothers Inc General Contractor | 6/29/21 | $699,312 |
Rtw Media Audio Video Solutions | 6/29/21 | $285,210 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,621,252 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,109,865 |
| Noncash contributions included in lines 1a–1f | $657,406 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,731,117 |
| Total Program Service Revenue | $79,142,784 |
| Investment income | $4,863,008 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $246,096 |
| Net Gain/Loss on Asset Sales | $20,720,420 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$214,381 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $119,204,346 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $39,375,603 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,262,073 |
| Compensation of current officers, directors, key employees. | $367,327 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $24,201,525 |
| Pension plan accruals and contributions | $977,864 |
| Other employee benefits | $4,786,667 |
| Payroll taxes | $1,806,062 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $2,933 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,738,753 |
| Fees for services: Other | $1,457,630 |
| Advertising and promotion | $907,841 |
| Office expenses | $1,492,171 |
| Information technology | $1,852,344 |
| Royalties | $0 |
| Occupancy | $3,367,292 |
| Travel | $24,542 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $138,154 |
| Interest | $1,350,778 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,597,214 |
| Insurance | $610,956 |
| All other expenses | -$2,551,779 |
| Total functional expenses | $94,640,794 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,904,754 |
| Savings and temporary cash investments | $20,259,874 |
| Pledges and grants receivable | $2,940,791 |
| Accounts receivable, net | $2,347,316 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,357,831 |
| Inventories for sale or use | $290,521 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $133,649,682 |
| Investments—publicly traded securities | $171,719,627 |
| Investments—other securities | $53,330,840 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,318,931 |
| Total assets | $426,120,167 |
| Accounts payable and accrued expenses | $8,487,511 |
| Grants payable | $0 |
| Deferred revenue | $3,677,680 |
| Tax-exempt bond liabilities | $56,080,608 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $939,074 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $12,727,359 |
| Total liabilities | $81,912,232 |
| Net assets without donor restrictions | $179,312,143 |
| Net assets with donor restrictions | $164,895,792 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $426,120,167 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Randolph-Macon College has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Bayport Foundation Newport News, VA PURPOSE: SCHOLARSHIPS | $1,000 |
Endowment Analysis
| Beg. Balance | $171,152,273 |
| Earnings | $54,043,723 |
| Admin Expense | -$6,040,223 |
| Net Contributions | $2,285,235 |
| Other Expense | $7,167,879 |
| Grants | $2,000,579 |
| Ending Balance | $224,352,996 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Washington & Lee University Lexington, VA | $2,101,751,936 | $186,199,453 |
Davidson College Davidson, NC | $1,786,522,691 | $194,756,860 |
Stevenson University Inc Owings Mills, MD | $339,125,128 | $161,866,162 |
Rhodes College Memphis, TN | $583,153,249 | $126,618,541 |
Berea College Berea, KY | $1,637,313,850 | $205,202,087 |
Maryland Institute Baltimore, MD | $324,696,375 | $136,443,462 |
Campbellsville University Inc Campbellsville, KY | $197,242,279 | $142,326,474 |
Centre College Of Kentucky Danville, KY | $677,636,297 | $215,283,093 |
Roanoke College Salem, VA | $354,210,741 | $126,475,040 |
Goucher College Baltimore, MD | $394,278,148 | $93,748,228 |
Lee University Cleveland, TN | $200,405,989 | $108,753,431 |
Union University Jackson, TN | $193,669,100 | $103,290,604 |