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Nonprofiteer
← DAVIDSON COLLEGE

Form 990 for tax year 2023

Filed by DAVIDSON COLLEGE.

Totals

Total revenue
$269,984,596
Total expenses
$213,918,295
Contributions and grants received
$99,528,995
Grants paid
$71,018,627
Program services expenses (Part IX)
$176,227,892
Management and general expenses
$26,841,293
Fundraising expenses
$10,849,110
Program service expenses (Part III)
$176,227,892

Program services were 82.4% 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
    $1,008,731
    From this org
    $960,471
    From related orgs
    $0
    Other
    $48,260
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $523,715
    Bonus
    $435,364
    Other
    $1,392
    Deferred
    $36,000
    Nontaxable benefits
    $12,260
    Filer's total
    $1,008,731

  • DOUGLAS A HICKS

    PRESIDENT

    Total calculated
    $705,559
    From this org
    $536,811
    From related orgs
    $0
    Other
    $168,748
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $495,365
    Bonus
    $39,124
    Other
    $2,322
    Deferred
    $36,444
    Nontaxable benefits
    $132,304
    Filer's total
    $705,559

  • MATTHEW R MCKILLOP

    MENS BASKETBALL COACH

    Total calculated
    $505,619
    From this org
    $463,662
    From related orgs
    $0
    Other
    $41,957
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $440,823
    Bonus
    $22,212
    Other
    $627
    Deferred
    $36,444
    Nontaxable benefits
    $5,513
    Filer's total
    $505,619

  • ANTOINETTE P MCCORVEY

    ASST SEC AND VP OF FIN & ADMIN

    Total calculated
    $479,323
    From this org
    $430,584
    From related orgs
    $0
    Other
    $48,739
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $375,478
    Bonus
    $52,005
    Other
    $3,101
    Deferred
    $36,444
    Nontaxable benefits
    $12,295
    Filer's total
    $479,323

  • EILEEN KEELEY

    VP OF COLLEGE RELATIONS

    Total calculated
    $448,621
    From this org
    $403,044
    From related orgs
    $0
    Other
    $45,577
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $352,379
    Bonus
    $49,050
    Other
    $1,615
    Deferred
    $36,444
    Nontaxable benefits
    $9,133
    Filer's total
    $448,621

  • CHRISTOPHER A CLUNIE

    DIRECTOR OF ATHLETICS

    Total calculated
    $443,950
    From this org
    $382,377
    From related orgs
    $0
    Other
    $61,573
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $331,777
    Bonus
    $50,282
    Other
    $318
    Deferred
    $51,444
    Nontaxable benefits
    $10,129
    Filer's total
    $443,950

  • DAVID D DEMETER

    INVESTMENT DIRECTOR

    Total calculated
    $438,589
    From this org
    $408,504
    From related orgs
    $0
    Other
    $30,085
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $316,671
    Bonus
    $91,500
    Other
    $333
    Deferred
    $20,728
    Nontaxable benefits
    $9,357
    Filer's total
    $438,589

  • ROBERT H MCKILLOP

    FORMER MENS BASKETBALL COACH

    Total calculated
    $427,471
    From this org
    $412,907
    From related orgs
    $0
    Other
    $14,564
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $153,307
    Bonus
    $259,600
    Other
    not reported
    Deferred
    $14,564
    Nontaxable benefits
    not reported
    Filer's total
    $427,471

  • CAROL E QUILLEN

    FORMER PRESIDENT

    Total calculated
    $419,681
    From this org
    $378,315
    From related orgs
    $0
    Other
    $41,366
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $131,392
    Bonus
    $244,436
    Other
    $2,487
    Deferred
    $36,444
    Nontaxable benefits
    $4,922
    Filer's total
    $419,681

  • SARAH PHILLIPS

    ASSISTANT SEC. & GEN. COUNSEL

    Total calculated
    $369,921
    From this org
    $337,407
    From related orgs
    $0
    Other
    $32,514
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $298,558
    Bonus
    $38,550
    Other
    $299
    Deferred
    $32,514
    Nontaxable benefits
    not reported
    Filer's total
    $369,921

  • CHRIS GRUBER

    VP & DEAN OF ADMISSION AND FA

    Total calculated
    $366,526
    From this org
    $326,107
    From related orgs
    $0
    Other
    $40,419
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $233,433
    Bonus
    $91,102
    Other
    $1,572
    Deferred
    $26,156
    Nontaxable benefits
    $14,263
    Filer's total
    $366,526

  • SHELLEY E RIGGER

    VP FOR ACAD AFF & DEAN OF FAC

    Total calculated
    $342,564
    From this org
    $304,872
    From related orgs
    $0
    Other
    $37,692
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $302,443
    Bonus
    $90
    Other
    $2,339
    Deferred
    $33,521
    Nontaxable benefits
    $4,171
    Filer's total
    $342,564

  • DYLAN GLENN

    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

  • MARY TABB MACK

    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

  • N ELIZABETH MCCAW

    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

  • SALLIE PERMAR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • TIM SAINTSING

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • KIRK WILLINGHAM

    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

  • WHITNEY A WHITE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • CARLOS ALVAREZ

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • VIRGIL FLUDD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • ANNE STANBACK

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • JOEL WILLIAMSON

    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 · Travel for companions
  • 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 TRAVEL FOR COMPANIONS IS PAID BY THE COLLEGE WHEN THE SPOUSE IS REPRESENTING THE COLLEGE. 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 CHIEF HUMAN RESOURCES OFFICER 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 $50,000 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
2023
Filed
15 October 2024
IRS schema version
2023v6.0
Source object
202501349349304640

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