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199733326 2636330 67614940 70251270 269984596 177332490 33732445 33732445 143600045 2636330 67681920 70318250 213918295 SCHEDULE D, PART V, LINE 4 ANNUAL ENDOWMENT SPENDING IS USED IN SUPPORT OF SCHOLARSHIP, PROFESSORSHIPS, BOOK FUNDS AND SUPPORT OF ACADEMIC PROGRAMS IN ACCORDANCE WITH DONOR RESTRICTIONS, IF ANY. SCHEDULE D, PART X, LINE 2 The College is exempt from income tax under Section 501(a) of the Internal Revenue Code of 1986 (the Code) as an organization described in Section 501(c)(3). As such, the College is generally exempt from federal income taxes on related income pursuant to Section 501(a) of the Code, while unrelated business income, generated mainly by endowment investments, is subject to federal income tax. For the year ended June 30, 2024, the College is subject to a 1.4% excise tax on its net investment income as defined under the Internal Revenue code and has recorded a deferred tax obligation based on reasonable estimates. As of June 30, 2024 and 2023, management has determined there were no material uncertain tax positions. SCHEDULE D, PART XI, LINE 2D RECLASS OF AUXILIARY EXPENSES OF $30,922,000 SCHEDULE D, PART XI, LINE 4B RECLASS OF FINANCIAL AID OF $67,614,940 SCHEDULE D, PART XII, LINE 2D OTHER AMOUNTS INCLUDED IN EXPENSES PER THE FINANCIAL STATEMENTS BUT NOT ON THE 990 IS COMPRISED OF $30,922,000 RECLASS OF AUXILIARY EXPENSES, $1,376,695 RECLASS OF PLEDGES WRITTEN OFF, AND $1,433,750 RECLASS OF COLLECTION ITEMS PURCHASED BUT NOT CAPITALIZED FOR A TOTAL OF $33,732,445 SCHEDULE D, PART XII, LINE 4B RECLASS OF FINANCIAL AID OF $67,614,940 AND $66,980 CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS FOR A TOTAL OF $67,681,920. true true true true true true true false false false false false false false false true false true SCHEDULE E, LINE 3 DAVIDSON COLLEGE PRIMARILY RECRUITS WITHIN AND OUTSIDE OF THE U.S. THROUGH DIRECT MAILINGS AND RECRUITING VISITS. SINCE GENERAL MEDIA WOULD NOT REACH ALL OF THE COLLEGE'S CONSTITUENTS, THE COLLEGE FOCUSES ON COMMUNICATING THESE POLICIES THROUGH COLLEGE PUBLICATIONS, THE COLLEGE'S WEBSITE, THE OFFICIAL COLLEGE CATALOGUE (IN PAPER AND ELECTRONIC FORM), AND THROUGH ITS ADMISSIONS MATERIALS. SCHEDULE E, LINE 6A DURING THE YEAR ENDED JUNE 30, 2024, DAVIDSON COLLEGE RECEIVED GRANTS FROM THE FEDERAL GOVERNMENT AND THE STATE OF NORTH CAROLINA FOR STUDENT FINANCIAL AID AND FACULTY RESEARCH. THE MONIES RECEIVED WERE PROPERLY SPENT IN ACCORDANCE WITH THE REQUIREMENTS OF THE GRANTING AGENCIES. IN ADDITION, DAVIDSON COLLEGE IS AUDITED ANNUALLY UNDER GOVERNMENT AUDITING STANDARDS AS REQUIRED BY Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Europe (Including Iceland and Greenland) Program Services Educational 210377 Sub-Saharan Africa Program Services Educational 28598 Central America and the Caribbean Investments 272799270 Europe (Including Iceland and Greenland) Investments 25295703 North America Investments 21484481 Sub-Saharan Africa Investments 22184600 342003029 342003029 true false true true true false X X X X true COPPERREEF ENTERPRISES INC GIFT OFFICE TRAINING false 44715 WASHBURN MCGOLDRICK CAMPAIGN CONSULTING false 30492 75207 AL AK AR CA CO CT DC FL GA HI IL KS KY LA ME MD MA MI MN MS NV NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WA WV WI true TOWN OF DAVIDSON PO BOX 579 DAVIDSON NC 28036 566001212 GOVT 168350 N/A N/A CONTRIBUTION 1 SCHOLARSHIPS AND GRANTS FOR STUDENTS 1416 67614940 FMV TUITION REDUCTION Research/Travel 860 3235337 FMV Research Grants GRANT SUBSTANTIATION SCHEDULE I, PART I, LINE 2 DAVIDSON COLLEGE FOLLOWS FEDERAL, STATE AND INSTITUTIONAL GUIDELINES AND METHODOLOGIES FOR DETERMINING ELIGIBILITY AND AWARDING OF NEED-BASED FINANCIAL AID. FOR MERIT-BASED GRANTS, DAVIDSON AWARDS THE GRANTS IN COMPLIANCE WITH THE STIPULATIONS OF THE UNDERLYING GOVERNING INSTRUMENT (I.E. DONOR ENDOWMENT AGREEMENTS AND OTHER DONOR DOCUMENTATION). DAVIDSON MAINTAINS DETAILED RECORDS OF COMPLIANCE FOR ALL GRANTS DISBURSED. X X X true true X X X X false true false false false false false true false DOUGLAS A HICKS PRESIDENT 495365 39124 2322 36444 132304 705559 ANTOINETTE P MCCORVEY ASST SEC AND VP OF FIN & ADMIN 375478 52005 3101 36444 12295 479323 SARAH PHILLIPS ASSISTANT SEC. & GEN. COUNSEL 298558 38550 299 32514 369921 RAYMOND A JACOBSON CHIEF INVESTMENT OFFICER 523715 435364 1392 36000 12260 1008731 34000 CHRIS GRUBER VP & DEAN OF ADMISSION AND FA 233433 91102 1572 26156 14263 366526 ROBERT H MCKILLOP FORMER MENS BASKETBALL COACH 153307 259600 14564 427471 MATTHEW R MCKILLOP MENS BASKETBALL COACH 440823 22212 627 36444 5513 505619 EILEEN KEELEY VP OF COLLEGE RELATIONS 352379 49050 1615 36444 9133 448621 CHRISTOPHER A CLUNIE DIRECTOR OF ATHLETICS 331777 50282 318 51444 10129 443950 DAVID D DEMETER INVESTMENT DIRECTOR 316671 91500 333 20728 9357 438589 CAROL E QUILLEN FORMER PRESIDENT 131392 244436 2487 36444 4922 419681 SHELLEY E RIGGER VP FOR ACAD AFF & DEAN OF FAC 302443 90 2339 33521 4171 342564 CERTAIN EXPENSES PROVIDED BY THE ORGANIZATION SCHEDULE J, PART I, LINE 1 TRAVEL FOR COMPANIONS IS PAID BY THE COLLEGE WHEN THE SPOUSE IS REPRESENTING THE COLLEGE. IT IS THE POLICY OF DAVIDSON COLLEGE TO REQUIRE AS A CONDITION OF EMPLOYMENT THAT THE PRESIDENT LIVE IN THE PRESIDENT'S HOUSE LOCATED ON NORTH MAIN STREET FOR THE CONVENIENCE OF THE COLLEGE. THE COLLEGE PROVIDES CLEANING SERVICES IN ALL AREAS OF THE PRESIDENT'S HOUSE THAT ARE USED FOR ENTERTAINING AND/OR LODGING OF COLLEGE GUESTS. THE COLLEGE DOES NOT PROVIDE ANY OTHER PERSONAL SERVICES, INCLUDING BUT NOT LIMITED TO A CHEF OR DRIVER. COMPENSATION OF THE TOP MANAGEMENT OFFICIAL SCHEDULE J, PART I, LINE 3 DAVIDSON COLLEGE ("DAVIDSON") DOES NOT HAVE A SEPARATE COMPENSATION COMMITTEE, BUT THE BOARD OF TRUSTEES' EXECUTIVE COMMITTEE ASSUMED THE ROLE OF A COMPENSATION COMMITTEE. PRESIDENT/CEO'S COMPENSATION 1. ANNUALLY THE PRESIDENT ESTABLISHES PERFORMANCE GOALS IN CONSULTATION WITH THE EXECUTIVE COMMITTEE AND THE BOARD OF TRUSTEES. 2. ANNUALLY THE PRESIDENT REVIEWS PROGRESS ON THOSE GOALS WITH THE EXECUTIVE COMMITTEE WHO DOCUMENTS A PERFORMANCE REVIEW WITH THE PRESIDENT. 3. ANNUALLY, THE CHIEF HUMAN RESOURCES OFFICER PERFORMS A COMPARATIVE REVIEW OF THE PRESIDENT'S COMPENSATION AGAINST DAVIDSON'S PEER INSTITUTIONS AND USES AN INDEPENDENT THIRD-PARTY CONSULTANT TO PERFORM A REVIEW OF THE PRESIDENT'S COMPENSATION. 4. PERIODICALLY AND IN CERTAIN CASES (I.E. THE ARRIVAL OF A NEW PRESIDENT), AN OUTSIDE COMPENSATION CONSULTANT MAY ADVISE THE EXECUTIVE COMMITTEE ON PRESIDENTIAL COMPENSATION. 5. BASED ON THE ABOVE, THE EXECUTIVE COMMITTEE ESTABLISHES THE PRESIDENT'S COMPENSATION FOR THE FOLLOWING YEAR. 6. THE EXECUTIVE COMMITTEE DOCUMENTS THE REASONS FOR ESTABLISHING THE NEW COMPENSATION AMOUNT. 7. THE EXECUTIVE COMMITTEE THEN RENEWS THE PRESIDENT'S CONTRACT FOR AN ADDITIONAL YEAR AT THE NEW COMPENSATION LEVEL. NONQUALIFIED RETIREMENT PLAN Schedule J, Part I, Line 4B CHIEF INVESTMENT OFFICER RAY JACOBSON'S RETIREMENT AND OTHER DEFERRED COMPENSATION REPORTED ON PART II, COLUMN C INCLUDES $17,000 WHICH IS 457(F) FORFEITABLE DEFERRED COMPENSATION PAYABLE IN ACCORDANCE WITH HIS DEFERRED COMPENSATION AGREEMENT. VICE PRESIDENT CHRIS GRUBER'S RETIREMENT AND OTHER DEFERRED COMPENSATION REPORTED ON PART II, COLUMN C INCLUDES $50,000 WHICH IS 457(F) FORFEITABLE DEFERRED COMPENSATION PAYABLE IN ACCORDANCE WITH HIS DEFERRED COMPENSATION AGREEMENT. ATHLETIC DIRECTOR CHRIS CLUNIE'S RETIREMENT AND OTHER DEFERRED COMPENSATION REPORTED ON PART II, COLUMN C INCLUDES $15,000 WHICH IS 457(F) FORFEITABLE DEFERRED COMPENSATION PAYABLE IN ACCORDANCE WITH HIS DEFERRED COMPENSATION AGREEMENT. NON-FIXED PAYMENTS SCHEDULE J, PART 1, LINE 7 DAVIDSON COLLEGE MADE NON-FIXED BONUS PAYMENTS TO SELECT EMPLOYEES AND SOME VICE PRESIDENTS. THE PAYMENTS WERE FOR MERIT AND WERE NOT CONTINGENT ON THE REVENUES OR NET EARNINGS OF THE COLLEGE OR ANY RELATED ORGANIZATIONS. RODGERS BUILDERS TRUSTEE IS PRES 25211983 CONSTRUCTION FEES MCGUIREWOODS LLP ASST SEC & GC IS PARTNER 242594 LEGAL FEES VMG TRUSTEE IS PARTNER'S WIFE 18674117 ENDOWMENT INVESTMENT X 4 166750 FMV X 27 43325 AUCTION X 138 4102520 FMV X Piano 1 25000 FMV X Other 21 35213 FMV 0 false true true USE OF THIRD PARTIES DAVIDSON COLLEGE UTILIZED STOCKBROKERS TO SELL STOCK GIFTS RECEIVED BY THE COLLEGE. DAVIDSON COLLEGE UTILIZED CHARITABLE AUTO RESOURCES (CARS) TO SELL VEHICLES DONATED TO THE COLLEGE. CARS WILL ACCEPT THE VEHICLE, SELL IT AT AUCTION, AND SEND A LIST TO THE COLLEGE OF EACH VEHICLE SOLD AND THE PROCEEDS RECEIVED. FOR ANY SALE GREATER THAN $500, CARS FILES THE REQUIRED IRS FORMS. FORM 990, PART III, LINE 4D ATHLETICS AND PHYSICAL EDUCATION PROVIDED AS PART OF A WELL-ROUNDED LIBERAL ARTS EDUCATION. THE ATHLETICS PROGRAM INCLUDES INTERCOLLEGIATE TEAMS, CLUB SPORTS AND INTRAMURAL COMPETITION. FORM 990, PART VI, LINE 11 DAVIDSON COLLEGE'S ("DAVIDSON") MANAGEMENT AND INDEPENDENT ACCOUNTANT PREPARED THE CURRENT YEAR TAX RETURN AND THIS WAS REVIEWED PRIOR TO FILING BY DAVIDSON'S MANAGEMENT AND CHAIR OF AUDIT AND FINANCE COMMITTEE. A COPY OF THE FORM 990 WAS PROVIDED ELECTRONICALLY TO DAVIDSON'S BOARD OF TRUSTEES PRIOR TO FILING. FORM 990, PART VI, LINE 12 TO COMPLY WITH ITS ETHICS POLICY, DAVIDSON COLLEGE REQUIRES ALL OF ITS TRUSTEES TO COMPLETE AN "ANNUAL STATEMENT OF DISCLOSURE AND COMPLIANCE" THAT IS CONTAINED WITHIN THE POLICY STATEMENT. IN ORDER TO ENSURE COMPLIANCE WITH THIS REQUIREMENT, THE COLLEGE FOLLOWS THE FOLLOWING PROCEDURES: 1. ON AN ANNUAL BASIS, THE PRESIDENT MAKES AN ANNOUNCEMENT TO THE BOARD OF TRUSTEES THAT THE "ANNUAL STATEMENT OF DISCLOSURE AND COMPLIANCE" MUST BE COMPLETED. 2. THE FORMS ARE DISTRIBUTED AT A MEETING OF THE BOARD OF TRUSTEES AND TIME IS PROVIDED TO ALLOW TRUSTEES TO COMPLETE THE FORMS. 3. FOR TRUSTEES WHO ARE NOT PRESENT AT THE MEETING OR DO NOT COMPLETE THEIR FORM, THE ADMINISTRATIVE COORDINATOR IN THE PRESIDENT'S OFFICE SENDS ELECTRONIC COPIES TO THOSE TRUSTEES WITH A REMINDER THAT SUCH FORMS MUST BE COMPLETED. 4. THE ADMINISTRATIVE COORDINATOR SENDS SEVERAL REMINDERS TO THE TRUSTEES UNTIL THE FORMS ARE COMPLETED. FORM 990, PART VI, LINE 15 DAVIDSON COLLEGE ("DAVIDSON") DOES NOT HAVE A SEPARATE COMPENSATION COMMITTEE, BUT THE BOARD OF TRUSTEES EXECUTIVE COMMITTEE ASSUMED THE ROLE OF A COMPENSATION COMMITTEE. PRESIDENT/CEO'S COMPENSATION 1. ANNUALLY THE PRESIDENT ESTABLISHES PERFORMANCE GOALS IN CONSULTATION WITH THE EXECUTIVE COMMITTEE AND THE BOARD OF TRUSTEES. 2. ANNUALLY THE PRESIDENT REVIEWS THE PROGRESS ON THOSE GOALS WITH THE EXECUTIVE COMMITTEE WHICH DOCUMENTS A PERFORMANCE REVIEW WITH THE PRESIDENT. 3. ANNUALLY, THE CHIEF HUMAN RESOURCES OFFICER PERFORMS A COMPARATIVE REVIEW OF THE PRESIDENT'S COMPENSATION AGAINST DAVIDSON'S PEER INSTITUTIONS AND USES AN INDEPENDENT THIRD-PARTY CONSULTANT TO PERFORM A REVIEW OF THE PRESIDENT'S COMPENSATION. 4. PERIODICALLY AND IN CERTAIN CASES (I.E. THE ARRIVAL OF A NEW PRESIDENT), AN OUTSIDE COMPENSATION CONSULTANT MAY ADVISE THE EXECUTIVE COMMITTEE ON PRESIDENTIAL COMPENSATION. 5. BASED ON THE ABOVE, THE EXECUTIVE COMMITTEE ESTABLISHES THE PRESIDENT'S COMPENSATION FOR THE FOLLOWING YEAR. 6. THE EXECUTIVE COMMITTEE DOCUMENTS THE REASONS FOR ESTABLISHING THE NEW COMPENSATION 7. THE EXECUTIVE COMMITTEE THEN RENEWS THE PRESIDENT'S EMPLOYMENT FOR AN ADDITIONAL YEAR AT THE NEW COMPENSATION LEVEL. SENIOR LEADERSHIP TEAM ("SLT") REPORTING DIRECTLY TO THE PRESIDENT 1. THE EXECUTIVE COMMITTEE AUTHORIZES THE PRESIDENT TO MAKE COMPENSATION DECISIONS FOR ALL OTHER COLLEGE STAFF. 2. ANNUALLY, EACH SLT MEMBER ESTABLISHES PERFORMANCE GOALS WITH THE PRESIDENT. 3. ANNUALLY, EACH SLT MEMBER REVIEWS THEIR PROGRESS ON THOSE GOALS WITH THE PRESIDENT CULMINATING IN A WRITTEN PERFORMANCE EVALUATION. THE PERFORMANCE EVALUATION SERVES AS THE CONTEMPORANEOUS DOCUMENTATION OF THE REVIEW. 4. ANNUALLY, THE CHIEF HUMAN RESOURCES OFFICER PERFORMS A COMPARATIVE REVIEW OF THE SLT MEMBER'S COMPENSATION AGAINST DAVIDSON'S PEER INSTITUTIONS AND USES AN INDEPENDENT THIRD-PARTY CONSULTANT TO PERFORM A REVIEW OF THE SLT COMPENSATION. 5. PERIODICALLY AND IN CERTAIN CASES (I.E. HIRING A NEW SLT MEMBER), AN OUTSIDE COMPENSATION CONSULTANT MAY BE USED. 6. BASED ON THE ABOVE, THE PRESIDENT ESTABLISHES EACH SLT MEMBER'S COMPENSATION FOR THE FOLLOWING YEAR. FORM 990, SCHEDULE VI, LINE 16 DAVIDSON COLLEGE ("DAVIDSON") INVESTS IN PARTNERSHIPS THAT MAY BE CONSTRUED TO BE JOINT VENTURES. DAVIDSON HAS ENACTED ADEQUATE SAFEGUARDS FOR ITS PARTNERSHIP INVESTMENTS TO ENSURE THAT THESE ACTIVITIES DO NOT JEOPARDIZE THE ORGANIZATION'S EXEMPT STATUS. FORM 990, PART VI, LINE 19 DAVIDSON COLLEGE'S GOVERNING DOCUMENTS (ARTICLES OF INCORPORATION AND ANY SUBSEQUENT AMENDMENTS) ARE AVAILABLE TO THE PUBLIC ON THE NORTH CAROLINA SECRETARY OF STATE WEBSITE. ALL RELEVANT GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9 CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 60,980 WRITE OFF OF PLEDGES (1,376,695) COLLECTION ITEMS PURCHASED BUT NOT CAPITALIZED (1,433,750) __________ $(2,743,465) CHARITABLE TRUSTS (17) CHARITABLE TR IN PRESBYTERIAN FD TRUST CHARITABLE TRUST (1) CHARITABLE TR NC WACHOVIA TRUST CHARITABLE TRUST (1) CHARITABLE TR NC US TRUST TRUST CHARITABLE TRUST (1) CHARITABLE TR MI COMERICA LEGACY TRUST false false false false false false false false false false false false false false false false false false