Name: The Citadel Foundation
Assets Under Management: $254.3 Million (Source: The Citadel Foundation on 6/30/2013)
Portfolio Insights: “The Citadel (or “College”) is pleased to present its financial statements for fiscal year 2013. While audited financial statements for fiscal year 2012 are not presented with this report, condensed operations and financial position data will be presented in this section in order to illustrate certain increases and decreases. However, the emphasis of discussions about these statements will be on current year data. This discussion focuses on the combined operations and financial positions of the College, defined for purposes of this discussion as both the primary institution — The Citadel,
and its blended component unit — The Citadel Trust. The discussion excludes the College’s non-governmental component units – The Citadel Foundation and The Citadel Brigadier Foundation.
During fiscal year 2013, the South Carolina economy stabilized and began a slight recovery. Total State appropriations, which include other items such as State health insurance allocations, increased $679,022 from $8,687,068 in 2012 to $9,366,090 in 2013. Total State appropriations peaked in fiscal year 2008 at $16,895, 424, and have declined 44% since that timeframe. The Citadel also received $937,691 in state capital appropriations and $412,919 in Lottery appropriations in 2013 to fund College deferred maintenance.” (Source)
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Top The Citadel Foundation Endowment Fund Headlines:
1) Jay Dowd joined The Citadel Foundation as Chief Executive Officer in February 2013. Jay has 20 years of experience in higher education fundraising, institutional advancement, and executive leadership. Prior to joining the Foundation team, he served as Francis Marion’s vice president for development and as executive director at the Francis Marion University Education Foundation. As CEO of The Citadel Foundation and the college’s chief advancement officer, Jay, in coordination with the president, Board of Visitors, and the TCF Board of Directors, is charged with developing and implementing a wide-reaching fundraising program for current and future funding needs of the college. In conjunction with the foundation staff, Jay works to ensure a coordinated approach to institutional advancement, supporting the college’s strategic priorities. (Source)
2) The Citadel Foundation, a 501(c)3 charitable organization, was established with the primary purpose of providing financial assistance and support exclusively for The Citadel. Founded in 1961 as The Citadel Development Foundation, the organization was initially tasked with raising money exclusively for educational purposes through the academic endowment fund.
The Citadel Foundation, as it is known today, emerged from a campus-wide consolidation of fundraising entities in 2000, and is now responsible for raising funds for all purposes except athletic scholarships, which remains primarily under the purview of The Citadel Brigadier Foundation.
Donations to The Citadel Foundation go to a variety of programs including academic scholarships, faculty support, athletic facilities, individual academic schools, program funds, and vital expenses not covered by tuition or fees. Gifts to The Citadel Fund, the unrestricted fund that supports the college’s ongoing operating expenses, totalled over $1,176,000 in 2004. (Source)
3) The Military College of South Carolina at The Citadel celebrated Leaders in Philanthropy weekend, October 17-18, 2014. The Citadel Foundation hosts this event annually to recognize select Citadel alumni “for their leadership and generosity in support of The Citadel, and for their philanthropic intent to help others with the belief that charity and service are virtues of the principled leader.” John Chapman (’78), pictured on the left, was inducted into The Order of the Tartan, recognizing 25 years of consecutive giving to The Citadel Foundation. Fred Price (’71), pictured in the center, is a current member of The Citadel Board of Visitors and a former inductee into The Order of the Tartan, The Legacy Society and The Summerall Society. Alec Giles (’79), pictured on the right, is a former inductee into The Order of the Tartan and was also inducted into The Summerall Society and The Legacy Society during the ceremonies held in the Summerall Chapel. (Source)
4) The Citadel Foundation, a 501(c)3 charitable organization, was established with the primary purpose of providing financial assistance and support exclusively for The Citadel. Founded in 1961 as The Citadel Development Foundation, the organization was initially tasked with raising money exclusively for educational purposes through the academic endowment fund.
The Citadel Foundation, as it is known today, emerged from a campus-wide consolidation of fundraising entities in 2000 and is now responsible for raising funds for all purposes except athletic scholarships, which remain primarily under the purview of The Citadel Brigadier Foundation. (Source)
5) The Citadel Foundation currently is working to raise $2.5 million to create an endowment for the chair, the interest from which will pay Riley and his successors. Bo Moore, dean of the School of Humanities and Social Sciences, said Riley’s salary has not yet been determined.
Riley, who will spend at least one semester each year working on campus, said that while at The Citadel, he will teach about government and public policy, write his memoirs and help arrange guest lectures by distinguished public servants. He also will be interviewed for an extensive oral history of his life and career.
Riley said he was honored to be invited to return to The Citadel. “The three major blocks in the early foundation of my personal and professional life were my family, my church and my education and training at The Citadel.” (Source)