Civic Intelligence

Randolph-Macon College

EIN 54-0505940 • 501(c)3 • Ashland, VA

Profile

See statement on schedule o.randolph-macon is an undergraduate, coeducational college of the liberal arts. The purpose of a randolph-macon education is to develop the mind and the character of its students. They are challenged to communicate effectively, to think analytically and critically, to experience and appreciate the creative process, to develop qualities of leadership, and to synthesize what they know with who they are. At randolph-macon college the liberal arts constitute a comprehensive educational opportunity. The curriculum includes exposure both to broad perspectives and specific concepts. Students explore the natural and social sciences, the arts, and the humanities, while they also achieve a deeper understanding of the single discipline in which they major. They are guided in this endeavor by a faculty of teacher-scholars who are dedicated to the liberal arts and active in their professional disciplines and in the extra-curricular life of the campus.

Refreshing map…

Post Office Box 5005Ashland, VA 23005-5505

www.rmc.edu

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

35th percentile

0.17x

Higher debt load relative to assets than 35% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

64th percentile

0.69x

Higher debt load relative to revenue than 64% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Net Margin

18th percentile

-6.1%

Higher net margin than 18% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Top Officer Pay

31st percentile

$553,437

Higher top officer pay than 31% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Asset Growth

27th percentile

1.1%

Faster asset growth than 27% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Revenue Growth

14th percentile

-5.3%

Faster revenue growth than 14% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Assets

Up

$412,054,904

Up $4,623,513 (+1.1%) from 2023

Liabilities

Down

$70,787,298

Down $2,507,801 (-3.4%) from 2023

Net Assets

Up

$341,267,606

Up $7,131,314 (+2.1%) from 2023

Revenue

Down

$101,949,732

Down $5,731,799 (-5.3%) from 2023

Expenses

Up

$108,176,584

Up $6,631,807 (+6.5%) from 2023

Net Income

Down

-$6,226,852

Down $12,363,606 (-201%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$600M$400M$200M$0Assets 2010: $176,443,825Liabilities 2010: $38,972,200Net Assets 2010: $137,471,6252010Assets 2011: $219,041,817Liabilities 2011: $51,385,328Net Assets 2011: $167,656,4892011Assets 2012: $219,346,600Liabilities 2012: $52,128,385Net Assets 2012: $167,218,2152012Assets 2013: $233,836,844Liabilities 2013: $53,219,747Net Assets 2013: $180,617,0972013Assets 2014: $262,609,298Liabilities 2014: $58,752,636Net Assets 2014: $203,856,6622014Assets 2015: $275,084,085Liabilities 2015: $62,862,986Net Assets 2015: $212,221,0992015Assets 2016: $269,119,123Liabilities 2016: $64,984,141Net Assets 2016: $204,134,9822016Assets 2017: $281,425,644Liabilities 2017: $62,187,086Net Assets 2017: $219,238,5582017Assets 2018: $335,454,835Liabilities 2018: $58,627,756Net Assets 2018: $276,827,0792018Assets 2019: $340,049,412Liabilities 2019: $56,638,336Net Assets 2019: $283,411,0762019Assets 2020: $349,731,096Liabilities 2020: $60,492,351Net Assets 2020: $289,238,7452020Assets 2021: $426,120,167Liabilities 2021: $81,912,232Net Assets 2021: $344,207,9352021Assets 2022: $398,057,628Liabilities 2022: $78,411,114Net Assets 2022: $319,646,5142022Assets 2023: $407,431,391Liabilities 2023: $73,295,099Net Assets 2023: $334,136,2922023Assets 2024: $412,054,904Liabilities 2024: $70,787,298Net Assets 2024: $341,267,6062024

Highlighted filing

2024

Assets$412,054,904
Liabilities$70,787,298
Net Assets$341,267,606

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$200M$150M$100M$50M$0-$50MExpenses 2010: $57,246,4362010Expenses 2011: $58,676,6692011Expenses 2012: $63,352,0992012Expenses 2013: $64,890,4232013Revenue 2014: $83,006,651Expenses 2014: $68,070,667Net Income 2014: $14,935,9842014Revenue 2015: $81,122,608Expenses 2015: $75,204,655Net Income 2015: $5,917,9532015Revenue 2016: $80,537,985Expenses 2016: $78,375,952Net Income 2016: $2,162,0332016Revenue 2017: $83,263,830Expenses 2017: $79,501,715Net Income 2017: $3,762,1152017Revenue 2018: $156,927,998Expenses 2018: $83,604,467Net Income 2018: $73,323,5312018Revenue 2019: $96,217,521Expenses 2019: $88,587,505Net Income 2019: $7,630,0162019Revenue 2020: $95,275,193Expenses 2020: $92,950,382Net Income 2020: $2,324,8112020Revenue 2021: $119,204,346Expenses 2021: $94,640,794Net Income 2021: $24,563,5522021Revenue 2022: $106,388,149Expenses 2022: $96,600,817Net Income 2022: $9,787,3322022Revenue 2023: $107,681,531Expenses 2023: $101,544,777Net Income 2023: $6,136,7542023Revenue 2024: $101,949,732Expenses 2024: $108,176,584Net Income 2024: -$6,226,8522024

Highlighted filing

2024

Revenue$101,949,732
Expenses$108,176,584
Net Income-$6,226,852

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$412$70.8$341$102$108$6.23
2023Summary only. Only limited summary data is available for this year.$407$73.3$334$108$102$6.14
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$398$78.4$320$106$96.6$9.79
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$426$81.9$344$119$94.6$24.6
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$350$60.5$289$95.3$93.0$2.32
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$340$56.6$283$96.2$88.6$7.63
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$335$58.6$277$157$83.6$73.3
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$281$62.2$219$83.3$79.5$3.76
2016Detailed filing. Detailed filing data is available for this year.$269$65.0$204$80.5$78.4$2.16
2015Detailed filing. Detailed filing data is available for this year.$275$62.9$212$81.1$75.2$5.92
2014Detailed filing. Detailed filing data is available for this year.$263$58.8$204$83.0$68.1$14.9
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$234$53.2$181$64.9
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$219$52.1$167$63.4
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$219$51.4$168$58.7
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$176$39.0$137$57.2
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 6, 2025
Return Version
2023v6.0
Gross Receipts
$102,983,097
Mission and Program Overview

Mission

A randolph-macon college liberal arts education develops the mind and character of each student.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$155,035,303$157,194,188▲ $2,158,885
Investments in Publicly Traded Securities$152,696,294$154,879,020▲ $2,182,726
Investments Other Securities$58,386,846$63,403,669▲ $5,016,823
Cash and Non-Interest-Bearing Accounts$22,268,957$22,799,563▲ $530,606
Savings and Temporary Cash Investments$5,536,009$4,009,826▼ $1,526,183
Pledges and Grants Receivable$4,367,983$3,670,996▼ $696,987
Other Notes and Loans Receivable, Net$2,957,114$2,235,163▼ $721,951
Accounts Receivable$4,004,795$1,506,363▼ $2,498,432
Inventories for Sale or Use$197,511$248,672▲ $51,161
Total Assets$407,431,391$412,054,904▲ $4,623,513
Other Assets Total$1,980,579$2,107,444▲ $126,865
Liabilities
Tax Exempt Bond Liabilities$51,874,685$49,540,956▼ $2,333,729
Other Liabilities$10,330,950$10,394,030▲ $63,080
Accounts Payable and Accrued Expenses$6,343,474$6,562,859▲ $219,385
Deferred Revenue$4,191,966$3,812,441▼ $379,525
Unsecured Notes Loans Payable$554,024$477,012▼ $77,012
Total Liabilities$73,295,099$70,787,298▼ $2,507,801
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$173,392,523$181,755,325▲ $8,362,802
Net Assets With Donor Restrictions$160,743,769$159,512,281▼ $1,231,488
Total Net Assets Fund Balance$334,136,292$341,267,606▲ $7,131,314
Total Liabilities and Net Assets / Fund Balance$407,431,391$412,054,904▲ $4,623,513

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$140,568,014$67,593,964$208,161,978
Equipment$3,106,049$21,296,347$24,402,396
Land$7,548,057-$7,548,057
Other Land Buildings$5,800,922-$5,800,922
Leasehold Improvements$171,146$137,688$308,834
Other Securities$22,919,663--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$209,331,307$1,585,161▲ $16,668,426$8,363,664$217,085,858
2022$203,175,738$5,673,737▲ $11,567,680$8,060,080$209,331,307
2021$224,352,996$3,919,464▼ $23,779,221$7,496,791$203,175,738
2020$171,152,273$2,285,235▲ $54,043,723$7,167,879$224,352,996
2019$167,085,450$2,558,573▲ $9,588,388$5,968,977$171,152,273
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Robert R Lindgren EsqPresidentFT$302,726$250,711$553,437
Paul T DaviesVP Admin & Finance, TreasuFT$177,146$133,668$310,814
Alisa J RosenthalProvostFT$188,719$21,805$210,524
Diane M Lowder EsqVP AdvancementFT$176,025$24,501$200,526
Erich GrantChair & Phy. Asst Prog DirectorFT$158,475$28,768$187,243
Cynthia RubensteinFounding Chair of NursingFT$153,254$33,907$187,161
Brenda PoggendorfVP EnrollmentFT$152,428$25,226$177,654
Grant AzdelVP Student AffairsFT$125,139$40,329$165,468
Matthew LafontAsst Professor Economics/businessFT$124,016$17,750$141,766
Beth CampbellAssoc. VP Marketing & CommFT$128,245$6,749$134,994
Timothy BullisExec. Asst to PresidentFT$32,917$11,047$43,964

Highest Paid Contractors

ContractorServicesLocationCompensation
Parkhurst Dining LLCFood Services285 E WATERFRONT DR SUITE 200, Homestead, PA 15120$4,445,121
Urbancore Construction LLCConstruction Services2021 STAPLES MILL RD SUITE 200, Richmond, VA 23230$1,909,750
Sycom TechnologiesNetwork Services1801 BAYBERRY CT SUITE 302, Richmond, VA 23226$1,858,839
Riddleberger Brothers INCHvac Services6127 S VALLEY PIKE, Mt Crawford, VA 22841$1,424,769
Modular Genius INCModular Dorms And Delivery1201 SOUTH MOUNTAIN ROAD, Joppa, MD 21085$832,089
Revenue and Support

Revenue Composition

Contributions and Grants
$7,368,318
Program Service Revenue
$86,811,659
Investment Income
$5,505,966
Other Revenue
$2,263,789
All Other Contributions
$6,227,813
Change in Net Assets
$-6,226,852

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded28$274,767Ave High/low at Transfer
Other Non Cash Contri Table1$45,000Donor Value
Works of Art1$22,750Donor Value
Cars and Other Vehicles1$21,200Donor Value
Other Non Cash Contri Table14$19,144Donor Value
Total Noncash Contributions45$382,861-

Audited Revenue Reconciliation

Revenue per Audited Statements
$58,733,655
Revenue Not Reported on Financial Statements
$43,216,077
Revenue Not Reported on Form 990
$13,926,520
Other Revenue Adjustments
$42,168,921
Total Revenue per Audited Statements
$72,660,175
Total Revenue per Form 990
$101,949,732
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$42,168,921
Salaries, Compensation, and Employee Benefits$36,498,472
Other Expenses$29,509,191
Total Fundraising Expense$2,452,857
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$42,168,921--$42,168,921
Other Salaries and Wages$24,449,866$2,116,563$1,173,982$27,740,411
Depreciation Depletion$5,523,594$489,018$61,061$6,073,673
Other Employee Benefits$4,112,663$412,809$239,098$4,764,570
Occupancy$4,124,617$139,836$35,578$4,300,031
Office Expenses$2,542,383$145,182$190,736$2,878,301
Payroll Taxes$1,740,594$158,367$97,313$1,996,274
Information Technology$1,518,959$174,196$99,419$1,792,574
Advertising$1,536,860$30,274$3,604$1,570,738
Interest$1,182,050$86,231$8,186$1,276,467
Other Expenses$1,002,782$148,097$59,371$1,210,250
Pension Plan Contributions$949,525$86,392$53,086$1,089,003
Fees for Service Investment Mgmnt Fees-$1,047,156-$1,047,156
Current Officers, Directors, Trustees, and Key Employees$408,696$272,464$227,054$908,214
Conferences and Meetings$721,107$78,247$106,156$905,510
Insurance$533$772,279-$772,812
Fees for Services Other$574,181$46,828$24,925$645,934
All Other Expenses$502,251$31,243$17,810$551,304
Travel$240,972$19,551$54,445$314,968
Fees for Services Accounting$53,117$4,670$584$58,371
Fees for Services Legal$46,124$7,452$449$54,025
Fees for Services Lobbying$3,023--$3,023
Total Functional Expenses$99,410,845$6,312,882$2,452,857$108,176,584

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$108,176,584
Total Expenses per Audited Statements$65,528,861
Expenses per Audited Statements$64,823,853
Expenses Not Reported on Financial Statements$43,352,731
Other Expense Adjustments$42,305,575
Expenses Not Reported on Form 990$705,008
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Post Retirement Benefit Liability$6,930,144
Refundable Loan Programs$2,356,729
Annuities Payable$1,107,157

Bond Issues

BondIssuerIssuedIssue PricePurpose
CVcba Revenue Bonds Series 20212021-05-12$30,527,562Refund series 2002a, 2004a & renovate & construct
BVcba Revenue Bonds Series 20182018-07-11$27,947,623Refund series 2012, 2013, 2017 & note
AIndustrial Development Authority of the Town of Ashland Virginia2004-12-15$4,900,000Renovate dormitories, refurbish gym, upgrade hvac in gym & additional dorms

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
C$30,527,562--$319,810
B$27,947,623$5,157,844-$336,826
A$4,900,000$27,609,553-$59,895

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

Process for reviewing 990: the treasurer, controller, assistant vice president of finance and president, consult to determine that a draft of the 990 form is accurate to the best of their knowledge. By charter mandate, the audit committee of the bot reviews the draft before it is made available to all members of the board of trustees(bot) electronically. Corrections, comments and suggestions from all members are compiled and, as appropriate, incorporated into the return before filing.

Form 990, Part VI, Section B, Line 12C

Annually each fall the assistant secretary to the board of trustees distributes the conflict of interest disclosure statements to the trustees and to covered employees. She is responsible for ensuring that all distributed statements are completed and returned and reviewed for potential conflicts. The vice president for finance and administration reports the results of the questionnaires to the audit committee of the board. The audit committee reports conflicts to the full board for appropriate resolution.

Form 990, Part VI, Section B, Line 15

Line 15a: a committee appointed and chaired by the chair of the board of trustees annually evaluates the president's performance and determines his compensation based both on his performance and by comparing his compensation to other similar sized institutions. Line 15b: key employees are evaluated annually by the president. Their compensation is based on performance and by comparing their compensation to other similar sized organizations.

Form 990, Part VI, Section C, Line 19

UPON REQUEST

Filing and Contact Details

Filer

Filer Name
Randolph-macon College
EIN
54-0505940
Phone
8047988372
Address
POST OFFICE BOX 5005, ASHLAND, VA 23005-5505

Signing Officer

Name
Robert R Lindgren
Title
President
Phone
8047988372
Signed
2025-05-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert R Lindgren
Formed
1830
Legal Domicile
Va
Voting Board Members
45
Independent Board Members
44
Employees
1,242
Volunteers
11

Preparer

Firm
Brown Edwards & Company Llp
Address
105 ARBOR DRIVE 3RD FLOOR, CHRISTIANSBURG, VA 24073
Preparer
Mark Woolwine
Phone
5404433606
Supplemental Narrative

Additional Explanations

FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:

A randolph-macon college liberal arts education develops the mind and character of each student.

FORM 990, PART XII, LINE 2C:

The audit committee process has not changed from the prior year.

FORM 990, PART IX, LINE 12:

Advertising and promotion expenses include, but are not limited to, the printing and publication of materials to make potential students aware of the college's programs and opportunities. This line also includes the expenses of publicizing events and activities sponsored by alumni relations, office of advancement, athletics and other departments on campus to students, faculty, staff, alumni and the general public.

Financial Statement Notes

PART III, LINE 4:

Randolph-macon college maintains a collection of original art which serves as a primary source for research, education and edification. Built around a donation of oriental art from the estate of senator hugh scott, an alumnus of the college, the present collection has been formed mostly from donations to further the permanent holdings in art for the benefit of faculty and students. No aspect or item from the permanent collection is offered for sale or purchase; the collection remains intact for academic study.

PART X, LINE 2:

The college is exempt from federal income tax under section 501(c)(3) of the internal reveune code. The federal form 990 of the college are subject to examination by the internal revenue service, generally for three years after they are filed.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Book store cost of goods sold netted against income 705,008. Change in postretirement benefit obligation -57,107. Change in value of split interest agreement -79,547.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Grants and financial aid paid 42,168,921.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Book store cost of goods sold netted against income 705,008.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Grants and financial aid paid 42,168,921. Change in postretirement benefit obligation 57,107. Change in value of split interest agreement 79,547.

Raw XML AppendixShowing 400 of 1,323 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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