Randolph-Macon College

Analysis

Randolph-Macon College is a registered charity in United States, based in Ashland, VA. It received its IRS tax-exemption ruling in May 1923, 103 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Randolph-Macon College reported income of $107.7m and spending of $101.5m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $96.2m to $107.7m (+12%), an average of +2.9% a year. The sharpest change came in the year to June 2021, when income rose by 25%. Over the whole period it spent 90% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Randolph-Macon College sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within VA. Charities of a similar size with the same main cause include Eastern University ($107.4m), Roanoke College ($107.8m) and L S U Foundation ($107.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 17% and program service revenue 75% of the total. Compensation of current officers, directors and key employees was $1.4m (1.4% of expenses). Other salaries and wages came to $25.9m. At year end it held assets of $407.4m against liabilities of $73.3m, net assets of $334.1m. It reported 1,278 employees.