Davidson College

EIN: 560529961 501(c)(3) Education

Davidson, NC

Total Revenue
$295,951,405
Total Expenses
$228,221,709
Total Assets
$2,007,739,234
Net Assets
$1,850,097,085
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1838
Legal Domicile
NC
Phone
7048942210
Tax Period
2024-07-01 to 2025-06-30

Davidson College, founded in 1838, is a major nonprofit in the Education sector that reported $296.0M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. The organization ran a surplus of $67.7M, a strong 23% operating margin.

Mission

UNDERGRADUATE LIBERAL ARTS EDUCATION

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $77,600,119
Program Service Revenue $129,609,416
Investment Income $82,297,628
Other Revenue $6,444,242
TOTAL REVENUE $295,951,405

Expense Breakdown

Grants Paid $76,583,631
Salaries & Benefits $94,224,966
Fundraising Expenses $11,972,707
Program Expenses $194,490,699
Other Expenses $57,291,754
TOTAL EXPENSES $228,221,709

Year-over-Year Comparison

2024 2023 Change
Revenue $295,951,405 $269,984,596 +0.1%
Expenses $228,221,709 $213,918,295 +0.1%
Net Income $67,729,696 $56,066,301 +0.2%
Key Indicators
✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
37
Independent Members
35
Employees
2574
Volunteers
9324

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
7
$1,654,163
Total Directors
37
$842,786
Key Employees
3
$1,720,981
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ANTHONY FOXX CHAIR, BOARD OF TRUSTEES N/A
Officer Director
$0 $0 $0
DOUGLAS A HICKS PRESIDENT N/A
Officer Director
$597,223 $245,563 $842,786
LISA GREEN CASE VICE CHAIR, BOARD OF TRUSTEES N/A
Officer Director
$0 $0 $0
STEVE SHAMES SECRETARY, BOARD OF TRUSTEES N/A
Officer Director
$0 $0 $0
ALISON HALL MAUZE TRUSTEE N/A
Director
$0 $0 $0
ANDY BERNDT TRUSTEE N/A
Director
$0 $0 $0
ANNE HURT KRIEG TRUSTEE N/A
Director
$0 $0 $0
BOB DUNHAM TRUSTEE N/A
Director
$0 $0 $0
CHAD MORGAN TRUSTEE N/A
Director
$0 $0 $0
CINTRA POLLACK TRUSTEE N/A
Director
$0 $0 $0
DAN BOONE TRUSTEE N/A
Director
$0 $0 $0
DAVID HALL TRUSTEE N/A
Director
$0 $0 $0
DAVID SPRINKLE TRUSTEE N/A
Director
$0 $0 $0
DOUG EY TRUSTEE N/A
Director
$0 $0 $0
DYLAN GLENN TRUSTEE N/A
Director
$0 $0 $0
EMMIT SKLAR TRUSTEE N/A
Director
$0 $0 $0
ERWIN CARTER TRUSTEE N/A
Director
$0 $0 $0
JACK PURCELL TRUSTEE N/A
Director
$0 $0 $0
JANET STOVALL TRUSTEE N/A
Director
$0 $0 $0
JESSICA DAVIS TRUSTEE N/A
Director
$0 $0 $0
JORDAN CLARK TRUSTEE N/A
Director
$0 $0 $0
JORDAN STARCK TRUSTEE N/A
Director
$0 $0 $0
KIRK WILLINGHAM TRUSTEE N/A
Director
$0 $0 $0
KRISTI MITCHEM TRUSTEE N/A
Director
$0 $0 $0
LESLIE GRINAGE TRUSTEE N/A
Director
$0 $0 $0
LILLIAN WOO TRUSTEE N/A
Director
$0 $0 $0
MARIA T ALDRICH TRUSTEE N/A
Director
$0 $0 $0
MARY TABB MACK TRUSTEE N/A
Director
$0 $0 $0
N ELIZABETH MCCAW TRUSTEE N/A
Director
$0 $0 $0
OLIVIA WARE TRUSTEE N/A
Director
$0 $0 $0
PREM MANJOORAN TRUSTEE N/A
Director
$0 $0 $0
ROBERT W HENDERSON TRUSTEE N/A
Director
$0 $0 $0
SALLIE PERMAR TRUSTEE N/A
Director
$0 $0 $0
TIARA ABLE HENDERSON TRUSTEE N/A
Director
$0 $0 $0
TIM SAINTSING TRUSTEE N/A
Director
$0 $0 $0
TOM FINKE TRUSTEE N/A
Director
$0 $0 $0
WHITNEY A WHITE TRUSTEE N/A
Director
$0 $0 $0
ANTOINETTE P MCCORVEY ASST SEC AND VP OF FIN & ADMIN N/A
Officer
$409,147 $50,630 $459,777
HARRISON MARSHALL JR ASSISTANT SECRETARY N/A
Officer
$0 $0 $0
SARAH PHILLIPS ASSISTANT SEC. & GENERAL COUNSEL N/A
Officer
$317,104 $34,496 $351,600
CHRIS GRUBER VP & DEAN OF ADMISSION AND FA N/A
Key Emp
$249,507 $62,355 $311,862
RAYMOND A JACOBSON CHIEF INVESTMENT OFFICER N/A
Key Emp
$996,210 $51,202 $1,047,412
SHELLEY E RIGGER VP FOR ACAD AFF & DEAN OF FAC N/A
Key Emp
$318,838 $42,869 $361,707
CHRISTOPHER A CLUNIE DIRECTOR OF ATHLETICS N/A
Highest
$387,431 $78,531 $465,962
DAVID D DEMETER INVESTMENT DIRECTOR N/A
Highest
$436,603 $47,749 $484,352
EILEEN KEELEY VP OF COLLEGE RELATIONS N/A
Highest
$388,505 $46,425 $434,930
MATTHEW R MCKILLOP MENS BASKETBALL COACH N/A
Highest
$489,816 $43,970 $533,786
ROBERT H MCKILLOP FORMER MENS BASKETBALL COACH N/A
Highest
$419,504 $15,191 $434,695
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $295,951,405 $228,221,709 $2,007,739,234 $67,729,696
2024 $269,984,596 $213,918,295 $1,895,135,622 $56,066,301
2023 $202,355,434 $193,121,536 $1,807,791,719 $9,233,898
2022 $353,448,425 $173,717,660 $1,808,715,075 $179,730,765
2021 $194,756,860 $180,507,570 $1,786,522,691 $14,249,290
2020 $201,740,146 $167,839,897 $1,347,013,579 $33,900,249
2019 $234,955,053 $164,234,420 $1,327,999,169 $70,720,633
2018 $195,339,862 $156,887,584 $1,242,551,720 $38,452,278
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