Davidson College
- Assets
- $1.8b
- Revenue
- $353.4m
- Investments
- $1.2b
- Employees
- 2,481
- Location
- Davidson, NC
- Founding
- 01/1951
- Data as of
- 06/2022
- EIN
- 56-0529961
Organization Overview
Davidson College is located in Davidson, NC. The organization was established in 1951. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2022, Davidson College employed 2,481 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Davidson 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 06/2022, Davidson College generated $353.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $173.7m during the year ending 06/2022. While expenses have increased by 2.8% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
UNDERGRADUATE LIBERAL ARTS EDUCATION
Describe the Organization's Program Activity:
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.
ATHLETICS & PHYSICAL EDUCATION
NEED-BASED AND MERIT AID AWARDED TO STUDENTS.
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carol E Quillen President | OfficerTrustee | 0 | $1,040,381 |
Robert H Mckillop Mens Basketball Coach | 0 | $728,985 | |
Raymond A Jacobson Chief Investment Officer | Officer | 0 | $665,400 |
Antoinette P Mccorvey Asst Sec And VP Of Fin & Admin | Officer | 0 | $355,622 |
Eileen Keeley VP Of College Relations | 0 | $336,581 | |
David D Demeter Investment Director | 0 | $323,266 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mako Medical Laboratories Llc Health Care Diag Lab | 6/29/22 | $4,145,440 |
Embree Reed Inc Construction | 6/29/22 | $1,269,830 |
Tj Construction Company Construction | 6/29/22 | $1,134,259 |
Rj Leeper Construction Llc Construction | 6/29/22 | $544,454 |
Air Planning Llc Flights | 6/29/22 | $387,908 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,536,024 |
| All other contributions, gifts, grants, and similar amounts not included above | $77,853,606 |
| Noncash contributions included in lines 1a–1f | $3,836,318 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $88,389,630 |
| Total Program Service Revenue | $112,242,928 |
| Investment income | $47,549,885 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $100,820,854 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $353,448,425 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $75,000 |
| Grants and other assistance to domestic individuals. | $63,761,117 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,201,592 |
| Compensation of current officers, directors, key employees. | $2,521,924 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $57,539,833 |
| Pension plan accruals and contributions | $4,724,485 |
| Other employee benefits | $2,573,290 |
| Payroll taxes | $4,168,269 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $300,964 |
| Fees for services: Accounting | $234,140 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $12,500 |
| Fees for services: Investment Management | $1,901,161 |
| Fees for services: Other | $2,968,072 |
| Advertising and promotion | $110,347 |
| Office expenses | $5,647,142 |
| Information technology | $3,734,748 |
| Royalties | $8,315 |
| Occupancy | $2,547,761 |
| Travel | $3,982,182 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,154,229 |
| Interest | $1,276,979 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,913,481 |
| Insurance | $1,187,570 |
| All other expenses | $2,694,483 |
| Total functional expenses | $173,717,660 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $86,071,165 |
| Pledges and grants receivable | $73,564,356 |
| Accounts receivable, net | $4,080,955 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $473,565 |
| Inventories for sale or use | $1,125,105 |
| Prepaid expenses and deferred charges | $2,545,852 |
| Net Land, buildings, and equipment | $328,350,979 |
| Investments—publicly traded securities | $65,511,142 |
| Investments—other securities | $1,216,550,117 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $30,441,839 |
| Total assets | $1,808,715,075 |
| Accounts payable and accrued expenses | $24,871,639 |
| Grants payable | $0 |
| Deferred revenue | $4,867,209 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $95,510,000 |
| Unsecured mortgages and notes payable | $12,653,489 |
| Other liabilities | $23,715,021 |
| Total liabilities | $161,617,358 |
| Net assets without donor restrictions | $420,461,591 |
| Net assets with donor restrictions | $1,226,636,126 |
| 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 | $1,808,715,075 |