The purpose of the Citadel Foundation shall be exclusively to support the mission of the citadel by raising, receiving, stewarding, granting, investing, and reinvesting money and property, and using the receipts therefrom for the benefit of the citadel.
Key facts about The Citadel Foundation
In short: The Citadel Foundation gave $24.6M across 2 grants in 2024 (avg $12.3M), mostly in South Carolina. Source: 2024 IRS Form 990.
- EIN
- 57-6020493
- Latest 990 filing
- Form 990, 2024
- Annual giving (2024)
- $24,570,352
- Grants made (2024)
- 2
- Average grant
- $12,285,176
- Median grant
- $12,285,176
- Total assets
- $332,294,617
- Primary geography
- South Carolina (100% of itemized 2024 grant dollars)
Data from IRS Form 990, 2024; updated September 2026.
Financial Overview
From 2024 IRS Form 990 · View filing
Total Assets
$332.3M
+5.5% YoY
Annual Giving
$24.6M
-4.0% YoY
Grant Count
2
+0.0% YoY
Avg Grant Size
$12.3M
-4.0% YoY
How The Citadel Foundation gives
- Giving grew 75% from 2021 to 2024. Method
From the foundation's IRS Form 990 filings. Methodology.
About The Citadel Foundation
Based on IRS filings
The Citadel Foundation is a public charity focused on Education, based in Charleston, SC. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $332.3M in total assets. In 2024, it awarded 2 grants totaling $24.6M. Net investment income was $9.9M.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 2 itemized grants.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $14.1M (2021) to $25.6M (2023). In 2024 it made 2 grants totaling $24.6M.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 2 recipients in 2024
The largest 2024 recipient was The Citadel ($17.6M). Together the top 2 received $24.6M.
Grant Size Distribution
8 grants across all recorded years
The most common grant size was $5M or more: 6 grants of 8 (75%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| The Citadel Charleston, SC | To provide financial assistance and support exclusively for the citadel, including scholarships, grants, capital expenditures. | $17,562,985 |
| The Citadel Real Estate Foundation Charleston, SC | Financial assistance for construction of bastin hall, purchase of properties | $7,007,367 |
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $332,294,617 | $315,085,710 | $306,832,269 |
| Revenue | $37,924,388 | $33,560,971 | $31,638,526 |
| Expenses | $35,560,054 | $34,547,669 | $24,586,077 |
| Net Investment Income | $9,944,317 | $11,582,766 | $6,088,409 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS November 12, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS November 14, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS November 8, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS November 7, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS November 13, 2025)
- IRS filings on file for fiscal years 2020–2024
Leadership & Key People
Officers and directors from IRS filings
The Citadel Foundation is led by Jay P. Dowd III, President & CEO on every filing since 2021; 7 of 39 officers listed in 2024 are compensated.
Officers on the 2024 filing
Jay P. Dowd III
President & CEO
On filings since 2021
40 hrs/week
$412K (2021) → $522K (2024)
Charles B. Lawless
Investment Committee Chair
Chair & Investment Committee → Chair Investment Committee, 2022
Chair Investment Committee → Investment Committee Chair, 2024
On filings since 2020
1 hr/week
No compensation reported
Col Alvin A. Perkins Usa Ret
Audit Committee Chair & Board Member
Member → Board Member, 2021
Board Member → Audit Committee Chair & Board Member, 2024
On filings since 2020
1 hr/week
No compensation reported
James J. Ethridge Jr.
Chairman & Executive Committee Chair
Chair & Audit Committee → Vice Chairman & Chair Audit Committee, 2022
Vice Chairman & Chair Audit Committee → Chairman & Executive Committee Chair, 2024
On filings since 2020
2 hrs/week
No compensation reported
Joseph J. Keenan
Real Estate Committee Chair
Chair & Nominations Committee → Chair Nominations & Real Estate Committee, 2022
Chair Nominations & Real Estate Committee → Real Estate Committee Chair, 2024
On filings since 2020
1 hr/week
No compensation reported
Luther C. Kissam IV
Vice Chairman, Development & Omc Committee Chair
Member → Chair Development & Campaign Committee, 2022
Chair Development & Campaign Committee → Vice Chairman, Development & Omc Committee Chair, 2024
On filings since 2020
2 hrs/week
No compensation reported
Tommy B. Baker
Nominations & Comp Committee Chair
Member → Board Member, 2021
Board Member → Nominations & Comp Committee Chair, 2024
On filings since 2020
1 hr/week
No compensation reported
Robert R. Hill Jr.
Grants Committee Chair
Board Member → Grants Committee Chair, 2024
On filings since 2022
1 hr/week
No compensation reported
Ashley Santos
Associate Vice President & Principal Giving
Asso. Vice President - Principal Gifts & Capital → Assistant Vice President for Principal Gifts & Capital, 2021
Assistant Vice President for Principal Gifts & Capital → Associate Vice President & Principal Giving, 2023
On filings since 2020
40 hrs/week
$136K (2020) → $170K (2024)
Gaylord W. Greene
Vice President Athletic Development
Vice President - Athletic Development → Vice President Athletic Development, 2021
On filings since 2020
40 hrs/week
$201K (2020) → $230K (2024)
Jodi R. Collins
Controller
On filings since 2020
40 hrs/week
$137K (2020) → $186K (2024)
Jonathan P. Kresken
Vice President Legacy, Annual & Reunion Giving
Vice President - Legacy & Annual Giving → Vice President Legacy Annual & Reunion Giving, 2021
Vice President Legacy Annual & Reunion Giving → Vice President Legacy, Annual & Reunion Giving, 2022
On filings since 2020
40 hrs/week
$200K (2020) → $258K (2024)
Shannon N. Mease
COO & CFO
On filings since 2020
40 hrs/week
$226K (2020) → $363K (2024)
Robert A. Stephenson
Associate Vice President for Major Gifts
Assistant Vice President for Major Gifts → Associate Vice President for Major Gifts, 2023
On filings since 2021
40 hrs/week
$141K (2021) → $156K (2024)
A. Foster McKissick III
Board Member
Member → Board Member, 2021
On filings since 2020
1 hr/week
No compensation reported
Anderson D. Warlick
Emeritus
Chair & Nominations Committee → Emeritus, 2022
On filings since 2020
1 hr/week
No compensation reported
Charles B. Coe
Board Member
Chair & Nominations Committee → Chair & Nominations Ad Hoc Committee, 2021
Chair & Nominations Ad Hoc Committee → Board Member, 2022
On filings since 2020
1 hr/week
No compensation reported
Christopher C. Swain
Board Member
Chairman of the Board → Chairman, 2023
Chairman → Board Member, 2024
On filings since 2020
1 hr/week
No compensation reported
Claudius E. Watts IV
Board Member
Chair Ad Hoc Mou Negotiations Committee → Chair & Ad Hoc Mou Negotiations Committee, 2021
Chair & Ad Hoc Mou Negotiations Committee → Board Member, 2022
On filings since 2020
1 hr/week
No compensation reported
Gen Glenn M. Walters Usmc Ret
Board Member
Member → President of the Citadel, 2022
President of the Citadel → Board Member, 2023
On filings since 2020
1 hr/week
No compensation reported
J. Todd Watkins
Board Member
Member → Board Member, 2021
On filings since 2020
1 hr/week
No compensation reported
L. William Krause
Board Member
Chair & Investment Committee → Board Member, 2021
On filings since 2020
1 hr/week
No compensation reported
M. Russell Holliday Jr.
Board Member
Chair & Real Estate Committee → Chair Real Estate Committee, 2022
Chair Real Estate Committee → Board Member, 2023
On filings since 2020
1 hr/week
No compensation reported
Peter Sulick Jr.
Board Member
Chair & Audit Committee → Board Member, 2021
On filings since 2020
1 hr/week
No compensation reported
Stephen L. Davis
Board Member
Chairman → Past Chairman, 2021
Past Chairman → Board Member, 2022
On filings since 2020
1 hr/week
No compensation reported
Louis E. Costa II
Board Member
On filings since 2021
1 hr/week
No compensation reported
Rafael R. Costas Jr.
Board Member
On filings since 2021
1 hr/week
No compensation reported
David D. Aughtry
Board Member
On filings since 2022
1 hr/week
No compensation reported
J. Brice O'Brien
Board Member
Chair Development Committee → Board Member, 2023
On filings since 2022
1 hr/week
No compensation reported
Marina Daniel Buescher
Treasurer & Secretary
Board Member → Treasurer & Secretary, 2024
On filings since 2022
2 hrs/week
No compensation reported
Christopher C. Sullivan
Board Member
On filings since 2023
1 hr/week
No compensation reported
Col F. G. Delleney Jr.
Board Member
On filings since 2023
1 hr/week
No compensation reported
Amanda M. Orson
Board Member
New on the 2024 filing
1 hr/week
No compensation reported
Brett S. Miller
Board Member
New on the 2024 filing
1 hr/week
No compensation reported
L. William
Board Member
New on the 2024 filing
1 hr/week
No compensation reported
Lt Col William R. Cullbreath Jr Us
Board Member
New on the 2024 filing
1 hr/week
No compensation reported
Mr Richard
Board Member
New on the 2024 filing
1 hr/week
No compensation reported
Radm Stephen C. Evans
Board Member
New on the 2024 filing
1 hr/week
No compensation reported
William S. Stafford
Board Member
New on the 2024 filing
1 hr/week
No compensation reported
Former officers (33)
- Former: Daniel S. McQueeney (2020–2024) — Board Member · Filing note: Thru 4/2024
- Former: James A. King II (2020–2024) — Board Member · Filing note: Thru 4/2024
- Former: James W. Reed (2020–2024) — Board Member · Filing note: Thru 4/2024
- Former: W. Henry Johnson (2020–2024) — Board Member · Filing note: Thru 4/2024
- Former: Norman A. Poole Jr. (2023–2024) — Board Member · Filing note: Thru 11/2024
- Former: James S. Wigfall (2020–2023) — Board Member
- Former: Ltg W. Michael Steele Usa Ret (2020–2023) — Board Member
- Former: Lt Col William R. Culbreath Jr Usa (2021–2023) — Usafr & Board Member
- Former: Col Dylan W. Goff (2022–2023) — Board Member
- Former: John P. McAleer (2022–2023) — Board Member
- Former: Col Thomas L. Hendricksusafret (2023) — Board Member
- Former: J. Richard Sanders Jr. (2023) — Board Member
- Former: Frank J. Brand II (2020–2022) — Board Member
- Former: Gregory A. Lapointe (2020–2022) — Board Member
- Former: John R. Douglas (2020–2022) — Board Member
- Former: Richard N. Gussoni (2020–2022) — Board Member
- Former: Tracy T. Hardaway (2020–2022) — Board Member
- Former: William W. Gaffney (2020–2022) — Board Member
- Former: Ltc Charles E. Bledsoe Usa Ret (2021–2022) — Board Member
- Former: Cdr Drury C. Nimmich Jr. (2020–2021) — Board Member
- Former: Gerald V. Baysden (2020–2021) — Past Vice Chairman
- Former: Mark A. Nash (2020–2021) — Chair & Development Committee
- Former: Richard Bastin (2020–2021) — Board Member
- Former: Col Dylan W. Goff Usar (2021) — Board Member
- Former: Col Myron C. Harrington Jr. (2021) — Board Member
- Former: Gen Glenn M. Walters Ret Usmc (2021) — Board Member
- Former: Greg A. Lapointe (2021) — Board Member
- Former: Col Fred L. Price Jr. (2020) — Member
- Former: Col Myron C. Harrington Jr Usmcr (2020) — Member
- Former: John E. Moore (2020) — Member
- Former: John Paul Dowd III (2020) — CEO
- Former: Joseph M. Salley (2020) — Member
- Former: Rob Stephenson (2020) — Asso. Vice President - Major Gifts
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $522K, to Jay P Dowd III (President and CEO). 7 officers or directors reported compensation on that filing.
Frequently asked questions about The Citadel Foundation
How much does The Citadel Foundation give each year?
The Citadel Foundation gave $24.6M across 2 grants in 2024, according to its 2024 IRS Form 990. In 2023 it gave $25.6M across 2 grants.
How large is The Citadel Foundation?
The Citadel Foundation reported $332.3M in total assets on its 2024 IRS Form 990. Its revenue that year was $37.9M.
What is The Citadel Foundation?
The Citadel Foundation is a public charity focused on Education, based in Charleston, SC. It holds $332.3M in total assets as of 2024.
Where does The Citadel Foundation operate?
The Citadel Foundation has awarded grants in South Carolina.
What is The Citadel Foundation's EIN?
The Citadel Foundation's EIN (Employer Identification Number) is 57-6020493. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Here's the math on researching The Citadel Foundation by hand.
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The Citadel Foundation down — hundreds of funders to go?