Citadel Brigadier Foundation Inc
- Assets
- $28.5m
- Revenue
- $4.4m
- Investments
- $0.0
- Employees
- 6
- Location
- Charleston, SC
- Founding
- 05/1959
- Data as of
- 12/2020
- EIN
- 57-6028468
Organization Overview
Citadel Brigadier Foundation Inc is located in Charleston, SC. The organization was established in 1959. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 12/2021, Citadel Brigadier Foundation Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Citadel Brigadier Foundation Inc 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 12/2020, Citadel Brigadier Foundation Inc generated $4.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.4% each year . All expenses for the organization totaled $3.7m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION IS CREATED FOR THE SOLE PURPOSES OF RAISING FUNDS TO BE USED FOR ATHLETIC FACILITIES, ATHLETIC PROGRAMS, NEEDS OF THE CITADEL ATHLETIC DEPARTMENT, AND TO PROVIDE SCHOLARSHIPS FOR STUDENT-ATHLETES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISBURSEMENTS TO THE CITADEL TO ENHANCE ACADEMIC AND ATHLETIC PROGRAMS FOR APPROXIMATELY 350 CADET-ATHLETES. THE MONEY RAISED BY THE CITADEL BRIGADIER FOUNDATION FOR PROGRAM NEEDS, FACILITY IMPROVEMENTS AND SCHOLARSHIPS IS CRITICAL TO THE BULLDOGS FIELDING COMPETITIVE TEAMS THROUGHOUT THE YEAR. IN TURN, THIS PROVIDES THE CADET-ATHLETES, ON EVERY TEAM, AN OPPORTUNITY TO WIN IN THE CLASSROOM, ON THE FIELD, AND IN LIFE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lt Col William R Culbreath Jr President | OfficerTrustee | 3 | $0 |
Mr J Richard Sanders Jr President Elect | OfficerTrustee | 3 | $0 |
Col John A Olshefski Past President | OfficerTrustee | 3 | $0 |
Mr K Wayne Wicker Treasurer | OfficerTrustee | 3 | $0 |
Col Julian G Frasier III Sargeant At Arms | OfficerTrustee | 3 | $0 |
Mr Russell Frierson Executive Director | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,106,492 |
| Investment income | $356,214 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $969,575 |
| Net Income from Fundraising Events | -$61,628 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,377,535 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $103,578 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $186,371 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $42,682 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $123,084 |
| Fees for services: Other | $25,881 |
| Advertising and promotion | $1,920 |
| Office expenses | $20,749 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $13,828 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $520 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $330 |
| All other expenses | $0 |
| Total functional expenses | $3,689,613 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,806,378 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,624 |
| Investments—publicly traded securities | $26,348,041 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $372,351 |
| Total assets | $28,530,394 |
| Accounts payable and accrued expenses | $57,924 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $479,724 |
| Total liabilities | $537,648 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $27,992,746 |
Grants Awarded
Over the last fiscal year, Citadel Brigadier Foundation Inc has awarded $2,624,285 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
THE CITADEL PURPOSE: TO FUND ATHLETIC SCHOLARSHIPS FOR STUDENTS ATTENDING THE CITADEL. | $2,624,285 |
Grants Recieved
Over the last fiscal year, we have identified 15 grants that Citadel Brigadier Foundation Inc has recieved totaling $284,299.
| Awarding Organization | Amount |
|---|---|
The Bessemer Giving Fund Woodbridge, NJ PURPOSE: GENERAL SUPPORT | $200,000 |
Community Foundation Of The Rappahannock River Region Inc Fredericksburg, VA PURPOSE: BEALE SCHOLARSHIP | $30,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $11,200 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $10,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $8,420 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $6,218 |
Endowment Analysis
| Beg. Balance | $26,447,566 |
| Earnings | $3,586,068 |
| Net Contributions | $2,095,310 |
| Other Expense | $1,099,321 |
| Ending Balance | $31,029,623 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Voorhees College Denmark, SC | $34,849,156 | $40,025,778 |
Brewton Parker College Inc Mount Vernon, GA | $26,983,767 | $18,922,646 |
Bennett College Greensboro, NC | $45,162,174 | $40,377,386 |
Morris College Sumter, SC | $47,268,567 | $16,212,901 |
Paine College Augusta, GA | $39,651,651 | $10,570,569 |
Clayton State University Foundation Inc Morrow, GA | $97,218,630 | $15,697,742 |
Columbus State University Foundation Inc Columbus, GA | $135,224,676 | $13,332,092 |
Mid-Atlantic Christian University Inc Elizabeth City, NC | $5,620,599 | $7,848,028 |
Beulah Heights University Incorporated Atlanta, GA | $4,161,246 | $5,943,784 |
Valdosta State University Foundation Inc Valdosta, GA | $81,061,715 | $11,895,592 |
Middle Georgia State University Foundation Inc Macon, GA | $19,210,932 | $2,564,989 |
Imperial College Foundation Inc Atlanta, GA | $105,086 | $1,182,645 |