Randolph College

Analysis

Randolph College is a registered charity in United States, based in Lynchburg, VA. It received its IRS tax-exemption ruling in January 1944, 82 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 College reported income of $26.4m and spending of $40.5m, spending 154% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $55.7m to $26.4m (-53%), an average of -17% a year. The sharpest change came in the year to June 2023, when income dropped by 50%. Over the whole period it spent 88% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Randolph College sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within VA. Charities of a similar size with the same main cause include Oklahoma Skynet Inc ($26.3m), Lyon College ($26.4m) and Heathwood Hall Episcopal School ($26.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 19% and program service revenue 73% of the total. Compensation of current officers, directors and key employees was $828k (2.0% of expenses). Other salaries and wages came to $14.5m. At year end it held assets of $280.0m against liabilities of $20.3m, net assets of $259.7m. It reported 681 employees.