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Nonprofiteer
← DAVIDSON COLLEGE

Form 990 for tax year 2022

Filed by DAVIDSON COLLEGE.

Totals

Total revenue
$202,355,434
Total expenses
$193,121,536
Contributions and grants received
$45,196,809
Grants paid
$67,277,640
Program services expenses (Part IX)
$162,367,220
Management and general expenses
$20,921,649
Fundraising expenses
$9,832,667
Program service expenses (Part III)
$162,367,220

Program services were 84.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • RAYMOND A JACOBSON

    CHIEF INVESTMENT OFFICER

    Total calculated
    $805,860
    From this org
    $743,390
    From related orgs
    $0
    Other
    $62,470
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $498,398
    Bonus
    $243,750
    Other
    $1,242
    Deferred
    $50,715
    Nontaxable benefits
    $11,755
    Filer's total
    $805,860

  • CAROL E QUILLEN

    PRESIDENT THRU 7/31/22

    Total calculated
    $541,407
    From this org
    $484,254
    From related orgs
    $0
    Other
    $57,153
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $446,302
    Bonus
    $34,760
    Other
    $3,192
    Deferred
    $33,715
    Nontaxable benefits
    $23,438
    Filer's total
    $541,407

  • ROBERT H MCKILLOP

    FORMER MENS BASKETBALL COACH

    Total calculated
    $529,421
    From this org
    $490,557
    From related orgs
    $0
    Other
    $38,864
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $417,532
    Bonus
    $51,309
    Other
    $21,716
    Deferred
    $33,715
    Nontaxable benefits
    $5,149
    Filer's total
    $529,421

  • ANTOINETTE P MCCORVEY

    ASST SEC AND VP OF FIN & ADMIN

    Total calculated
    $394,065
    From this org
    $348,615
    From related orgs
    $0
    Other
    $45,450
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $344,885
    Bonus
    $30
    Other
    $3,700
    Deferred
    $33,715
    Nontaxable benefits
    $11,735
    Filer's total
    $394,065

  • DAVID D DEMETER

    INVESTMENT DIRECTOR

    Total calculated
    $393,221
    From this org
    $351,908
    From related orgs
    $0
    Other
    $41,313
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $281,648
    Bonus
    $70,000
    Other
    $260
    Deferred
    $31,965
    Nontaxable benefits
    $9,348
    Filer's total
    $393,221

  • EILEEN KEELEY

    VP OF COLLEGE RELATIONS

    Total calculated
    $368,166
    From this org
    $325,336
    From related orgs
    $0
    Other
    $42,830
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $323,874
    Bonus
    not reported
    Other
    $1,462
    Deferred
    $33,715
    Nontaxable benefits
    $9,115
    Filer's total
    $368,166

  • CHRISTOPHER A CLUNIE

    DIRECTOR OF ATHLETICS

    Total calculated
    $362,718
    From this org
    $304,569
    From related orgs
    $0
    Other
    $58,149
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $289,553
    Bonus
    $14,700
    Other
    $316
    Deferred
    $48,047
    Nontaxable benefits
    $10,102
    Filer's total
    $362,718

  • MATTHEW R MCKILLOP

    MENS BASKETBALL COACH

    Total calculated
    $324,766
    From this org
    $285,971
    From related orgs
    $0
    Other
    $38,795
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $272,856
    Bonus
    $10,950
    Other
    $2,165
    Deferred
    $30,708
    Nontaxable benefits
    $8,087
    Filer's total
    $324,766

  • CHRIS GRUBER

    VP & DEAN OF ADMISSION AND FA

    Total calculated
    $320,821
    From this org
    $257,093
    From related orgs
    $0
    Other
    $63,728
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $221,138
    Bonus
    $35,000
    Other
    $955
    Deferred
    $49,954
    Nontaxable benefits
    $13,774
    Filer's total
    $320,821

  • SARAH PHILLIPS

    ASSISTANT SEC. & GEN. COUNSEL

    Total calculated
    $301,794
    From this org
    $272,211
    From related orgs
    $0
    Other
    $29,583
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $271,946
    Bonus
    not reported
    Other
    $265
    Deferred
    $29,583
    Nontaxable benefits
    not reported
    Filer's total
    $301,794

  • SHELLEY E RIGGER

    VP FOR ACAD AFF & DEAN OF FAC

    Total calculated
    $284,929
    From this org
    $259,669
    From related orgs
    $0
    Other
    $25,260
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $195,979
    Bonus
    $62,513
    Other
    $1,177
    Deferred
    $21,107
    Nontaxable benefits
    $4,153
    Filer's total
    $284,929

  • DOUGLAS A HICKS

    PRESIDENT BEG. 8/1/22

    Total calculated
    $283,738
    From this org
    $236,298
    From related orgs
    $0
    Other
    $47,440
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $193,194
    Bonus
    $42,330
    Other
    $774
    Deferred
    $20,734
    Nontaxable benefits
    $26,706
    Filer's total
    $283,738

  • PHILIP N JEFFERSON

    FMR VP ACAD AFF & DEAN OF FAC

    Total calculated
    $190,902
    From this org
    $171,633
    From related orgs
    $0
    Other
    $19,269
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $170,778
    Bonus
    not reported
    Other
    $855
    Deferred
    $17,196
    Nontaxable benefits
    $2,073
    Filer's total
    $190,902

  • CARLOS E ALVAREZ

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • ANDY BERNDT

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • ERWIN CARTER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • VIRGIL FLUDD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • JESSICA DAVIS

    TRUSTEES

    Total calculated
    $0
    Hours/week
    0

  • DOUG EY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • KAMRAN SHAHBAZ

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • JORDAN STARCK

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • ANTHONY FOXX

    VICE CHAIR, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    0

  • YVETTE P FRAMPTON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • JANET STOVALL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • MARIA T ALDRICH

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • DAVID HALL

    SECRETARY, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    0

  • TIARA ABLE HENDERSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • ROBERT W HENDERSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • DAN BOONE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • REID FRENCH

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • BOB DUNHAM

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • KRISTI MITCHEM

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • TOM FINKE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • ALISON HALL MAUZE

    CHAIR, BOARD OF TRUSTEES

    Total calculated
    $0
    Hours/week
    0

  • CHAD MORGAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • CINTRA POLLACK

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • PREM MANJOORAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • PATRICIA A RODGERS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • ANDREW J SCHWAB

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • STEVE SHAMES

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • ANNE STANBACK

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • TIM SAINTSING

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • JOEL WILLIAMSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • DAVID SPRINKLE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • LILLIAN WOO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • LISA GREEN CASE

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • OLIVIA WARE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • HARRISON MARSHALL JR

    ASSISTANT SECRETARY

    Total calculated
    $0
    Hours/week
    0

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Housing allowance or residence for personal use
  • 1a · Personal services (maid, chauffeur, chef)
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

CERTAIN EXPENSES PROVIDED BY THE ORGANIZATION
SCHEDULE J, PART I, LINE 1 IT IS THE POLICY OF DAVIDSON COLLEGE TO REQUIRE AS A CONDITION OF EMPLOYMENT THAT THE PRESIDENT LIVE IN THE PRESIDENT'S HOUSE LOCATED ON NORTH MAIN STREET FOR THE CONVENIENCE OF THE COLLEGE. THE COLLEGE PROVIDES CLEANING SERVICES IN ALL AREAS OF THE PRESIDENT'S HOUSE THAT ARE USED FOR ENTERTAINING AND/OR LODGING OF COLLEGE GUESTS. THE COLLEGE DOES NOT PROVIDE ANY OTHER PERSONAL SERVICES, INCLUDING BUT NOT LIMITED TO A CHEF OR DRIVER.
COMPENSATION OF THE TOP MANAGEMENT OFFICIAL
SCHEDULE J, PART I, LINE 3 DAVIDSON COLLEGE ("DAVIDSON") DOES NOT HAVE A SEPARATE COMPENSATION COMMITTEE, BUT THE BOARD OF TRUSTEES' EXECUTIVE COMMITTEE ASSUMED THE ROLE OF A COMPENSATION COMMITTEE. PRESIDENT/CEO'S COMPENSATION 1. ANNUALLY THE PRESIDENT ESTABLISHES PERFORMANCE GOALS IN CONSULTATION WITH THE EXECUTIVE COMMITTEE AND THE BOARD OF TRUSTEES. 2. ANNUALLY THE PRESIDENT REVIEWS PROGRESS ON THOSE GOALS WITH THE EXECUTIVE COMMITTEE WHO DOCUMENTS A PERFORMANCE REVIEW WITH THE PRESIDENT. 3. ANNUALLY, THE DIRECTOR OF HUMAN RESOURCES PERFORMS A COMPARATIVE REVIEW OF THE PRESIDENT'S COMPENSATION AGAINST DAVIDSON'S PEER INSTITUTIONS AND USES AN INDEPENDENT THIRD-PARTY CONSULTANT TO PERFORM A REVIEW OF THE PRESIDENT'S COMPENSATION. 4. PERIODICALLY AND IN CERTAIN CASES (I.E. THE ARRIVAL OF A NEW PRESIDENT), AN OUTSIDE COMPENSATION CONSULTANT MAY ADVISE THE EXECUTIVE COMMITTEE ON PRESIDENTIAL COMPENSATION. 5. BASED ON THE ABOVE, THE EXECUTIVE COMMITTEE ESTABLISHES THE PRESIDENT'S COMPENSATION FOR THE FOLLOWING YEAR. 6. THE EXECUTIVE COMMITTEE DOCUMENTS THE REASONS FOR ESTABLISHING THE NEW COMPENSATION AMOUNT. 7. THE EXECUTIVE COMMITTEE THEN RENEWS THE PRESIDENT'S CONTRACT FOR AN ADDITIONAL YEAR AT THE NEW COMPENSATION LEVEL.
NONQUALIFIED RETIREMENT PLAN
Schedule J, Part I, Line 4B CHIEF INVESTMENT OFFICER RAY JACOBSON'S RETIREMENT AND OTHER DEFERRED COMPENSATION REPORTED ON PART II, COLUMN C INCLUDES $17,000 WHICH IS 457(F) FORFEITABLE DEFERRED COMPENSATION PAYABLE IN ACCORDANCE WITH HIS DEFERRED COMPENSATION AGREEMENT. VICE PRESIDENT CHRIS GRUBER'S RETIREMENT AND OTHER DEFERRED COMPENSATION REPORTED ON PART II, COLUMN C INCLUDES $25,000 WHICH IS 457(F) FORFEITABLE DEFERRED COMPENSATION PAYABLE IN ACCORDANCE WITH HIS DEFERRED COMPENSATION AGREEMENT. ATHLETIC DIRECTOR CHRIS CLUNIE'S RETIREMENT AND OTHER DEFERRED COMPENSATION REPORTED ON PART II, COLUMN C INCLUDES $15,000 WHICH IS 457(F) FORFEITABLE DEFERRED COMPENSATION PAYABLE IN ACCORDANCE WITH HIS DEFERRED COMPENSATION AGREEMENT.
NON-FIXED PAYMENTS
SCHEDULE J, PART 1, LINE 7 DAVIDSON COLLEGE MADE NON-FIXED BONUS PAYMENTS TO SELECT EMPLOYEES AND SOME VICE PRESIDENTS. THE PAYMENTS WERE FOR MERIT AND WERE NOT CONTINGENT ON THE REVENUES OR NET EARNINGS OF THE COLLEGE OR ANY RELATED ORGANIZATIONS.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Provenance

Return type
form_990
Tax year
2022
Filed
10 May 2024
IRS schema version
2022v5.0
Source object
202421369349302337

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