Citadel Foundation

Organization Overview

Citadel Foundation is located in Charleston, SC. The organization was established in 1964. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 12/2021, Citadel Foundation employed 58 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Citadel Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 12/2021, Citadel Foundation generated $48.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $20.7m during the year ending 12/2021. While expenses have increased by 0.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE CITADEL FOUNDATION IS A NONPROFIT ORGANIZATION CREATED TO RAISE FUNDS FOR THE CITADEL. GIFTS FROM ALUMNI AND FRIENDS, CORPORATIONS, AND OTHER ORGANIZATIONS PROVIDE RESOURCES THAT THE COLLEGE USES TO AWARD SCHOLARSHIPS, RECRUIT AND RETAIN OUTSTANDING STUDENTS AND PROFESSORS, PROVIDE THEM WITH STATE-OF-THE-ART TECHNOLOGY AND FACILITIES, AND ENRICH CAMPUS LIFE THROUGH ATHLETIC AND CULTURAL ACTIVITIES. THE TOP THREE AREAS OF FOCUS OF THE CITADEL FOUNDATION ARE TO PROVIDE UNRESTRICTED SUPPORT TO THE CITADEL, INCREASE SCHOLARSHIP FUNDS, AND SUSTAIN ENRICHMENT PROGRAMS FOR THE SOUTH CAROLINA CORPS OF CADETS AND GRADUATE STUDENTS.

Describe the Organization's Program Activity:

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 MAKE UP FOR DECLINING 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.


SCHOLARSHIPS: SCHOLARSHIPS ALLOW THE CITADEL TO ATTRACT AND RETAIN PROMISING CADETS AND STUDENTS. APPROXIMATELY 60% 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 $8 MILLION IN SCHOLARSHIPS FROM ENDOWMENTS HELD AT THE CITADEL'S AFFILIATED FOUNDATIONS. 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.


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 KRAUSE CENTER FOR LEADERSHIP AND ETHICS 2. CYBERCORPS SCHOLARSHIP FOR SERVICE PROGRAM3. SWAIN BOATING CENTER4. EMERGING TOPICS IN INTELLIGENCE AND SECURITY STUDIES LECTURE SERIES 5. ACADEMIC LAB AND FACILITY UPGRADES, SUCH AS NEW CONSTRUCTION OF BASTIN AND CAPERS HALLS, RENOVATIONS TO BYRD AND DUCKETT HALLS, AND PRELIMINARY DESIGN AND FEASIBILITY STUDIES TO SUPPORT THE CONSTRUCTION OF A NEW SCHOOL OF ENGINEERING FACILITY AND REBUILD THE EAST SIDE STANDS AT JOHNSON HAGOOD STADIUM


OTHER PROGRAM SERVICES


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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$20,295,713
Noncash contributions included in lines 1a–1f $2,735,315
Total Revenue from Contributions, Gifts, Grants & Similar$20,295,713
Total Program Service Revenue$0
Investment income $169,873
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $27,652,875
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $48,215,262

Grants Awarded

Over the last fiscal year, Citadel Foundation has awarded $16,735,283 in support to 2 organizations.

Grant RecipientAmount

THE CITADEL

PURPOSE: TO PROVIDE FINANCIAL ASSISTANCE AND SUPPORT EXCLUSIVELY FOR THE CITADEL, INCLUDING SCHOLARSHIPS, GRANTS, CAPITAL EXPENDITURES

$13,735,283

THE CITADEL REAL ESTATE FOUNDATION

Org PageRecipient Profile

Charleston, SC

PURPOSE: TO PROVIDE FINANCIAL ASSISTANCE AND SUPPORT EXCLUSIVELY FOR THE CITADEL, INCLUDING CAPITAL EXPENDITURES

$3,000,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Citadel Foundation has recieved totaling $80,000.

Awarding OrganizationAmount
R J Miller Family Foundation Inc

Franklin, TN

PURPOSE: GENERAL

$79,000
Barnes Wall Foundation

Little Mountain, SC

PURPOSE: SCHLORSHIP FUND

$1,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$140,831,352
Earnings$28,739,653
Net Contributions$6,850,263
Other Expense$5,355,431
Ending Balance$171,065,837

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