Skip to main content

Nonprofit · EIN 57-6020493

CITADEL FOUNDATION

Tax-exempt · CHARLESTON, SC 29409

Financials

$33.6M$34.5M2023$37.9M$35.6M2024
Revenue Expenses · by fiscal year end
Financials of CITADEL FOUNDATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$37,924,388$35,560,054$2,364,334$332,294,617$23,463,918$308,830,699
December 31, 2023990$33,560,971$34,547,669-$986,698$315,085,710$28,365,344$286,720,366
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$26,806,005
Program service revenue
$0
Investment income
$9,944,317
Net gain from sales of assets
$9,013,323
Other revenue
$1,174,066

Expenses

Grants and similar amounts paid
$24,337,431
Compensation of officers, directors and key employees
$885,693
Other salaries and wages
$4,228,684
Salaries, compensation and benefits (total)
$7,319,560
Professional fundraising fees
$0
Accounting fees
$102,976
Occupancy
$206,449
Travel
$391,770
Depreciation
$87,814
Program services (functional)
$24,570,352
Management and general (functional)
$4,048,234
Fundraising (functional)
$6,941,468

Balance sheet and other

Total assets, start of year
$315,085,710
Total assets, end of year
$332,294,617
Total liabilities, end of year
$23,463,918
Net assets, end of year
$308,830,699
Land, buildings and equipment
$59,089
Net assets without donor restrictions
$83,043,943
Net assets with donor restrictions
$225,786,756
Gross unrelated business income
$1,682,127
Gross receipts
$41,443,724
Employees
43
Volunteers
360
Year formed
1961
State of legal domicile
SC

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
JAY P DOWD IIIPRESIDENT AND CEO
Officer
40$522,355$87,582
SHANNON N MEASECOO/CFO
Officer
40$363,338$82,532
JONATHAN KRESKENVP LEGACY, ANNUAL & REUNION GIVING
Highest-paid employee
40$257,933$71,180
GAYLORD GREENEVP ATHLETIC DEVELOPMENT
Highest-paid employee
40$229,863$36,079
ASHLEY SANTOSASSOC. VP, PRINCIPAL GIVING
Highest-paid employee
40$170,294$70,065
ROBERT STEPHENSONASSOC. VP FOR MAJOR GIFTS
Highest-paid employee
40$155,989$68,098
JODI COLLINSCONTROLLER
Highest-paid employee
40$185,885$28,622
MR DAVID D AUGHTRYBOARD MEMBER
Trustee or director
1$0$0
MR TOMMY B BAKERNOMINATIONS/COMP COMMITTEE CHAIR
Trustee or director
1$0$0
MR CHARLES B COEBOARD MEMBER
Trustee or director
1$0$0
DR LOUIS E COSTA IIBOARD MEMBER
Trustee or director
1$0$0
MR RAFAEL R COSTAS JRBOARD MEMBER
Trustee or director
1$0$0
MR STEPHEN L DAVISBOARD MEMBER
Trustee or director
1$0$0
COL F G DELLENEY JRBOARD MEMBER
Trustee or director
1$0$0
RADM STEPHEN C EVANS-BEG 0424BOARD MEMBER
Trustee or director
1$0$0
30 more people on this return
NameTitleHours / weekCompensation
COL THOMAS L HENDRICKSUSAF RETAUDIT COMMITTEE CHAIR
Trustee or director
1$0
MR ROBERT R HILL JRGRANTS COMMITTEE CHAIR
Trustee or director
1$0
MS M RUSSELL HOLLIDAY JRBOARD MEMBER
Trustee or director
1$0
MR JOSEPH J KEENANREAL ESTATE COMMITTEE CHAIR
Trustee or director
1$0
MR L WILLIAM KRAUSEBOARD MEMBER
Trustee or director
1$0
MR CHARLES B LAWLESSINVESTMENT COMMITTEE CHAIR
Trustee or director
1$0
MR A FOSTER MCKISSICK IIIBOARD MEMBER
Trustee or director
1$0
MR BRETT S MILLER-BEG 0424BOARD MEMBER
Trustee or director
1$0
MR J BRICE O'BRIENBOARD MEMBER
Trustee or director
1$0
MS AMANDA M ORSON-BEG 0424BOARD MEMBER
Trustee or director
1$0
COL ALVIN A PERKINS USA RETBOARD MEMBER
Trustee or director
1$0
MR WILLIAM S STAFFORD-BEG 1124BOARD MEMBER
Trustee or director
1$0
MR PETER SULICK JRBOARD MEMBER
Trustee or director
1$0
MR CHRISTOPHER C SULLIVANBOARD MEMBER
Trustee or director
1$0
DR CHRISTOPHER C SWAINBOARD MEMBER
Trustee or director
1$0
MR L WILLIAM VARNERJR-BEG0424BOARD MEMBER
Trustee or director
1$0
GEN GLENN M WALTERS USMC RETBOARD MEMBER
Trustee or director
1$0
MR ANDERSON D WARLICKEMERITUS
Trustee or director
1$0
MR J TODD WATKINSBOARD MEMBER
Trustee or director
1$0
MR CLAUDIUS E WATTS IVBOARD MEMBER
Trustee or director
1$0
LT COL WILLIAM R CULLBREATH JR USBOARD MEMBER
Trustee or director
1$0
MR W HENRY JOHNSON-THRU 0424BOARD MEMBER
Trustee or director
1$0
MR JAMES A KING II-THRU 0424BOARD MEMBER
Trustee or director
1$0
MR DANIEL MCQUEENEY-THRU 0424BOARD MEMBER
Trustee or director
1$0
MR NORMAN POOLE JR-THRU 1124BOARD MEMBER
Trustee or director
1$0
MR JAMES W REED - THRU 0424BOARD MEMBER
Trustee or director
1$0
MR RICHARD SANDERSJR-THRU0424BOARD MEMBER
Trustee or director
1$0
MR JAMES J ETHRIDGE JRCHAIRMAN, EXEC COMMITTEE CHAIR
Trustee or director, Officer
2$0
MR LUTHER C KISSAM IVVICE CHAIRMAN, DEV/OMC COMMITTEE CHAIR
Trustee or director, Officer
2$0
MRS MARINA DANIEL BUESCHERTREASURER/SECRETARY
Trustee or director, Officer
2$0
990 for the year ended December 31, 2023: 43 people
NameTitleHours / weekCompensationOther / benefits
JAY P DOWD IIIPRESIDENT AND CEO
Officer
40$505,694$80,860
SHANNON N MEASECOO/CFO
Officer
40$329,400$70,030
JONATHAN KRESKENVP LEGACY, ANNUAL & REUNION GIVING
Highest-paid employee
40$251,388$47,779
GAYLORD W GREENVP ATHLETIC DEVELOPMENT
Highest-paid employee
40$218,393$31,737
ASHLEY SANTOSASSOC. VP, PRINCIPAL GIVING
Highest-paid employee
40$161,675$63,276
JODI R COLLINSCONTROLLER
Highest-paid employee
40$169,907$50,387
ROBERT A STEPHENSONASSOC. VP FOR MAJOR GIFTS
Highest-paid employee
40$149,863$61,424
MR JAMES S WIGFALLBOARD MEMBER
Trustee or director
1$0$0
MR CLAUDIUS E WATTS IVBOARD MEMBER
Trustee or director
1$0$0
MR J TODD WATKINSBOARD MEMBER
Trustee or director
1$0$0
MR CHRISTOPHER C SULLIVANBOARD MEMBER
Trustee or director
1$0$0
LTG W MICHAEL STEELE USA RETBOARD MEMBER
Trustee or director
1$0$0
MR JAMES W REEDBOARD MEMBER
Trustee or director
1$0$0
MR NORMAN A POOLE JRBOARD MEMBER
Trustee or director
1$0$0
COL ALVIN A PERKINS USA RETBOARD MEMBER
Trustee or director
1$0$0
MR J BRICE O'BRIENBOARD MEMBER
Trustee or director
1$0$0
GEN GLENN M WALTERS USMC RETBOARD MEMBER
Trustee or director
1$0$0
MR L WILLIAM KRAUSEBOARD MEMBER
Trustee or director
1$0$0
MR JAMES A KING IIBOARD MEMBER
Trustee or director
1$0$0
MS M RUSSELL HOLLIDAY JRBOARD MEMBER
Trustee or director
1$0$0
MR ROBERT R HILL JRBOARD MEMBER
Trustee or director
1$0$0
COL THOMAS L HENDRICKSUSAFRETBOARD MEMBER
Trustee or director
1$0$0
COL F G DELLENEY JRBOARD MEMBER
Trustee or director
1$0$0
MR STEPHEN L DAVISBOARD MEMBER
Trustee or director
1$0$0
MR RAFAEL R COSTAS JRBOARD MEMBER
Trustee or director
1$0$0
DR LOUIS E COSTA IIBOARD MEMBER
Trustee or director
1$0$0
MR CHARLES B COEBOARD MEMBER
Trustee or director
1$0$0
MRS MARINA DANIEL BUESCHERBOARD MEMBER
Trustee or director
1$0$0
MR TOMMY B BAKERBOARD MEMBER
Trustee or director
1$0$0
MR DAVID D AUGHTRYBOARD MEMBER
Trustee or director
1$0$0
MR JOHN P MCALEERBOARD MEMBER
Trustee or director
1$0$0
LT COL WILLIAM R CULBREATH JR USAUSAFR, BOARD MEMBER
Trustee or director
1$0$0
MR J RICHARD SANDERS JRBOARD MEMBER
Trustee or director
1$0$0
COL DYLAN W GOFFBOARD MEMBER
Trustee or director
1$0$0
MR W HENRY JOHNSONCHAIR GRANTS COMMITTEE
Trustee or director
1$0$0
MR JOSEPH J KEENANCHAIR NOMINATIONS & REAL ESTATE COMMITTEE
Trustee or director
1$0$0
MR LUTHER C KISSAM IVCHAIR DEVELOPMENT/CAMPAIGN COMMITTEE
Trustee or director
1$0$0
MR CHARLES B LAWLESSCHAIR INVESTMENT COMMITTEE
Trustee or director
1$0$0
MR A FOSTER MCKISSICK IIIBOARD MEMBER
Trustee or director
1$0$0
MR ANDERSON D WARLICKEMERITUS
Trustee or director
1$0$0
DR CHRISTOPHER C SWAINCHAIRMAN
Trustee or director, Officer
2$0$0
MR DANIEL S MCQUEENEYTREASURER/SECRETARY
Trustee or director, Officer
2$0$0
MR JAMES J ETHRIDGE JRVICE CHAIRMAN, CHAIR AUDIT COMMITTEE
Trustee or director, Officer
2$0$0

Address and contacts

Address (IRS master file)
171 MOULTRIE ST, CHARLESTON, SC 29409-0001
Principal officer (990 for 2024)
SHANNON MEASE, 171 MOULTRIE STREET, CHARLESTON, SC 29409
Signed the 990
SHANNON MEASE, CHIEF FINANCIAL OFFICER
Phone
(843) 953-6914
Return prepared by
ELLIOTT DAVIS ADVISORY LLC

Mission

THE PURPOSE OF THE CITADEL FOUNDATION SHALL BE EXCLUSIVELY TO SUPPORT THE MISSION OF THE CITADEL BY RAISING, RECEIVING, STEWARDING, GRANTING, INVESTING, AND REINVESTING MONEY AND PROPERTY, AND USING THE RECEIPTS THEREFROM FOR THE BENEFIT OF THE CITADEL.

990 for the year ended December 31, 2024

Program accomplishments

  • 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. UNRESTRICTED GIFTS ENABLE THE CITADEL TO:1. ENHANCE THE CLASSROOM EXPERIENCE AND LIBRARY RESOURCES 2. SUPPORT CADET RESEARCH AND TRAVEL INITIATIVES 3. PROVIDE SCHOLARSHIPS AND FINANCIAL AID RESOURCES 4. ENGAGE AND RETAIN THE MOST TALENTED FACULTY AND STAFF 5. EXPAND LEADERSHIP AND CHARACTER DEVELOPMENT OPPORTUNITIES 6. KEEP PACE WITH CUTTING-EDGE TECHNOLOGY ADVANCESANNUAL GIFTS ALSO INCREASE DONOR PARTICIPATION RATES, WHICH ARE OFTEN INFLUENTIAL FACTORS IN NATIONWIDE COLLEGE RANKINGS AND FUNDING DECISIONS BY POTENTIAL CORPORATE AND FOUNDATION GRANT MAKERS. SUCH ADDITIONAL REVENUE SOURCES ARE ESSENTIAL TO OFFSET TUITION INCREASES AND SUPPLEMENT STATE SUPPORT. UNRESTRICTED GIFTS TO THE CITADEL CONTINUE THE COLLEGE'S LONGSTANDING TRADITION OF PROVIDING CADETS AND GRADUATE STUDENTS WITH AN EXCEPTIONAL EDUCATION IN A DISCIPLINED ENVIRONMENT, DEEP BONDS AND LASTING FRIENDSHIPS, AND ABOVE ALL, THE ABILITY AND CONFIDENCE TO FACE WHATEVER CHALLENGES COME THEIR WAY.
    Expenses $2,566,817 · grants $2,333,896
  • 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. THE CITADEL'S OFFICE OF FINANCIAL AID AND SCHOLARSHIPS AWARDS APPROXIMATELY $16 MILLION IN SCHOLARSHIPS FROM ENDOWMENTS HELD AT THE CITADEL'S AFFILIATED FOUNDATIONS, INCLUDING NEARLY $12 MILLION IN ACADEMIC MERIT- AND NEED-BASED AWARDS. SCHOLARSHIP AWARDS RANGE FROM FULL-TUITION, MERIT-BASED AWARDS TO NEED-BASED FINANCIAL AWARDS THAT SUPPORT DEDICATED CADETS WHO SIMPLY NEED HELP TO COMPLETE THEIR CITADEL EDUCATION. MOST SCHOLARSHIPS AWARDED BY THE CITADEL ARE RENEWABLE FROM ONE YEAR TO THE NEXT, PROVIDING THAT THE CADET RECIPIENT REMAINS IN GOOD STANDING AND CONTINUES TO MEET THE ELIGIBILITY CRITERIA FOR THE AWARD. THANKS TO THE GENEROSITY OF ALUMNI AND FRIENDS OF THE COLLEGE, NEARLY THREE-QUARTERS OF THE CORPS OF CADETS RECEIVES SOME DEGREE OF FINANCIAL ASSISTANCE TOWARD EARNING THEIR CITADEL DEGREE.
    Expenses $3,451,529 · grants $3,451,529
  • 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. THESE PROGRAMS ENHANCE THE COLLEGE'S ACADEMIC STANDING BY ENABLING CADETS AND CITADEL GRADUATE COLLEGE STUDENTS TO PARTICIPATE IN EXTERNAL LEADERSHIP OPPORTUNITIES AND CONFERENCES, AND BY HELPING TO PROMOTE THE CITADEL THROUGH ASSOCIATIONS WITH PEER INSTITUTIONS FOCUSED ON LEADERSHIP DEVELOPMENT. EXAMPLES OF PROGRAM INITIATIVES INCLUDE:1. THE NEWLY ESTABLISHED KRAUSE SCHOOL FOR LEADERSHIP AND ETHICS, COMBINING THE EXISTING KRAUSE CENTER AND THE DEPARTMENT OF LEADERSHIP STUDIES TO FORM THE COLLEGE'S SIXTH ACADEMIC SCHOOL2. CYBERCORPS SCHOLARSHIP FOR SERVICE PROGRAM3. FACILITY ENHANCEMENTS, INCLUDING THE DESIGN OF A NEW SCHOOL OF ENGINEERING BUILDING, RENOVATIONS TO CLASSROOM AND LABRATORY SPACES IN BYRD AND DUCKET HALLS, RAISING FUNDS TO REBUILD THE EAST SIDE STANDS AT JOHNSON HAGOOD STADIUM, AND RENOVATING THE BASEBALL CLUBHOUSE AND LOCKER ROOMS AT JOE RILEY PARK.4. EMERGING TOPICS IN INTELLIGENCE AND SECURITY STUDIES LECTURE SERIES5. FACULTY AND STUDENT PANELS EXPLORING THE MERITS, OPPORTUNITIES, AND CHALLENGES OF INCORPORATING ARTIFICIAL INTELLIGENCE INTO CLASSROOM AND CAMPUS ACTIVITIES
    Expenses $11,544,639 · grants $11,544,639
  • REAL ESTATE: THE CITADEL REAL ESTATE FOUNDATION (TCREF) SUPPORTS THE CITADEL THROUGH VARIOUS REAL PROPERTY INITIATIVES. TCREF MAY REQUEST AND ACCEPT GIFTS AND GRANTS FROM THE FOUNDATION TO SUPPORT THOSE INITIATIVES. IN 2024 GRANTS WERE MADE TO TCREF RELATED TO THE CONSTRUCTION AND DEBT SERVICE OF BASTIN HALL, AND THE PURCHASE OF PROPERTIES ON DUNNEMAN AVENUE AND GROVE STREET ALONG THE EDGE OF THE CITADEL CAMPUS.
    Expenses $7,007,367 · grants $7,007,367

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
57-6020493
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Organization supporting a government college or university
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
1964
Accounting year ends
December
Files
Form 990 or 990-EZ
Category (NTEE)
Education (B110)
Assets (IRS master file)
$332,294,617
Income (IRS master file)
$41,443,724

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$37,924,388$35,560,054$332,294,617XML
990-TDecember 2024–––IRS
990December 2023$33,560,971$34,547,669$315,085,710XML
990-TDecember 2023–––IRS
990December 2022$31,638,526$24,586,077$306,832,269IRS
990-TDecember 2022–––IRS
990December 2021–––IRS
990-TDecember 2021–––IRS
990December 2020–––IRS
990-TDecember 2020–––IRS
990December 2018–––IRS
990December 2017–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 57-6020493).

Questions about CITADEL FOUNDATION

What is the EIN of CITADEL FOUNDATION?
The employer identification number (EIN) of CITADEL FOUNDATION is 57-6020493.
Is CITADEL FOUNDATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1964.
Are donations to CITADEL FOUNDATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does CITADEL FOUNDATION file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of CITADEL FOUNDATION due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did CITADEL FOUNDATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of CITADEL FOUNDATION?
The 990 for the year ended December 31, 2024 names SHANNON MEASE.
Who are the officers and directors of CITADEL FOUNDATION?
The 990 for the year ended December 31, 2024 lists 45 people; 7 received compensation from the organization, the highest $522,355 (JAY P DOWD III, PRESIDENT AND CEO).
How much revenue does CITADEL FOUNDATION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $37,924,388, expenses of $35,560,054 and total assets of $332,294,617 at year end.

Other nonprofits in CHARLESTON

All nonprofits in CHARLESTON · South Carolina · Education