CHARLESTON, SC
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)THE CITADEL REAL ESTATE FOUNDATION, founded in 2016, is a small nonprofit in the Education sector that reported $202K in total revenue in fiscal year 2023. Revenue fell 92% from the prior year — a significant decline worth monitoring. Expenses of $2.1M exceeded revenue, resulting in a 941% operating deficit.
TO OPERATE EXCLUSIVELY FOR THE BENEFIT OF THE CITADEL, AS WELL AS TO PERFORM THE FUNCTIONS OF AND TO CARRY OUT THE PURPOSES OF THE CITADEL, BY PROVIDING SUPPORT AND ASSISTANCE TO THE CITADEL IN SUCH A MANNER AS DETERMINED BY THE CITADEL REAL ESTATE FOUNDATION (TCREF)'S BOARD OF DIRECTORS.
TCREF CONTINUES MANAGEMENT OF FOUR PROPERTIES. THE FORMER FACULTY HOUSE LOCATED AT 169 MOULTRIE STREET, KNOWN AS THE WATTS HOUSE, SERVES AS AN EVENT VENUE AND PREMIER SHORT-TERM RESIDENCE FOR...
TCREF CONTINUES MANAGEMENT OF FOUR PROPERTIES. THE FORMER FACULTY HOUSE LOCATED AT 169 MOULTRIE STREET, KNOWN AS THE WATTS HOUSE, SERVES AS AN EVENT VENUE AND PREMIER SHORT-TERM RESIDENCE FOR VISITING FACULTY, HIGH-LEVEL DONORS, AND VIPS. 169 DUNNEMANN, PURCHASED IN JANUARY 2021, IS RENTED TO FORMER CITADEL SENIOR STAFF WITH AN ANNUAL LEASE. 179 DUNNEMANN, PURCHASED IN DECEMBER 2021, IS RENTED ALSO WITH AN ANNUAL LEASE. 165 DUNNEMANN, PURCHASED IN OCTOBER 2022, IS RENTED BACK TO THE FORMER OWNERS WITH AN 18-MONTH LEASE.
IN ACCORDANCE WITH THE COLLEGE'S "CAMPUS EDGE PLAN," TCREF CONTINUES ITS LONG-TERM STRATEGY OF ACQUISITION AND RENOVATION OF KEY RESIDENTIAL PROPERTIES ON DUNNEMANN AVENUE, AND OTHER SURROUNDING...
IN ACCORDANCE WITH THE COLLEGE'S "CAMPUS EDGE PLAN," TCREF CONTINUES ITS LONG-TERM STRATEGY OF ACQUISITION AND RENOVATION OF KEY RESIDENTIAL PROPERTIES ON DUNNEMANN AVENUE, AND OTHER SURROUNDING PROPERTIES ADJACENT TO THE CAMPUS PROPERTY LINE.
IN 2023, AT THE COLLEGE'S REQUEST AND IN ACCORDANCE WITH THE CITADEL REAL ESTATE FOUNDATION'S "EDGE PLAN," TCREF WORKED CLOSELY WITH LS3P AND COLLEGE OFFICIALS TO DEVELOP CITADEL AND TCREF OWNED...
IN 2023, AT THE COLLEGE'S REQUEST AND IN ACCORDANCE WITH THE CITADEL REAL ESTATE FOUNDATION'S "EDGE PLAN," TCREF WORKED CLOSELY WITH LS3P AND COLLEGE OFFICIALS TO DEVELOP CITADEL AND TCREF OWNED PROPERTY ALONG DUNNEMANN AVE. LAND APPRAISALS WERE COMPLETED AND PLANS WERE DEVELOPED (HOUSING OPTIONS INCLUDED 74-108, ONE THREE BEDROOM UNITS). THE PROJECT WAS PUT ON HOLD DUE TO PROJECT COST (APPROXIMATELY $40,000,000) AND EXPECTED RENT WHICH WAS PROJECTED TO BE WELL ABOVE CURRENT ON-CAMPUS RENTS.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $201,708 | $2,659,372 | -0.9% |
| Expenses | $2,099,330 | $2,082,543 | +0.0% |
| Net Income | $-1,897,622 | $576,829 | -4.3% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| THOMAS G PHILIPKOSKY USAF RET | EXECUTIVE DIRECTOR | 30.00 |
Officer
|
$122,625 | $0 | $122,625 |
| MR LONNIE N CARTER | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| MR P HEATH VERNER | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| MR ROBERT H NUTTALL JR | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| GENGLENN M WALTERS USMC-RET | BOARD MEMBER, EX-OFFICIO | 1.00 |
Director
|
$0 | $0 | $0 |
| DR CHRISTOPHER C SWAIN | BOARD MEMBER, EX-OFFICIO | 1.00 |
Director
|
$0 | $0 | $0 |
| COL F GREG DELLENEY JR | BOARD MEMBER, EX-OFFICIO | 1.00 |
Director
|
$0 | $0 | $0 |
| MR JOHN H HUDGENS III | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| MR JOEY R FLOYD | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| MR CHARLES I SMALL | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| COL DYLAN W GOFF | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| MR THOMAS J ANDERSON JR | BOARD SECRETARY/TREASURER | 5.00 |
Officer
Director
|
$0 | $0 | $0 |
| MR CLAUDIUS E WATTS IV | VICE CHAIRMAN | 5.00 |
Officer
Director
|
$0 | $0 | $0 |
| MR JOHN C L DARBY | CHAIRMAN | 10.00 |
Officer
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $201,708 | $2,099,330 | $28,349,907 | $-1,897,622 |
| 2022 | $2,659,372 | $2,082,543 | $31,768,972 | $576,829 |
| 2021 | $3,092,140 | $1,597,203 | $30,739,900 | $1,494,937 |
| 2020 | $1,574,072 | $153,348 | $23,720,494 | $1,420,724 |
| 2019 | $6,719,405 | $451,392 | $10,741,360 | $6,268,013 |
| 2018 | $125 | $430,510 | $3,701,655 | $-430,385 |
Compare THE CITADEL REAL ESTATE FOUNDATION with other nonprofits in South Carolina and across the country.