2026-05-14T10:02:12+00:00 2025-06-30 135565207 KPMG LLP 500 West 5th Street Suite 800 WinstonSalem NC 27101 990 2024-07-01 560529961 Davidson College DAVI 7048942210 PO Box 5000 Davidson NC 280357162 Antoinette McCorvey Asst Sec & VP of FIN 7048942859 2026-05-14 true Brian Kearns P02061479 3362753394 2026-05-11 2024 2025-03-06 01:10:19Z Douglas A Hicks PO Box 7162 Davidson NC 280357162 464907251 false X www.davidson.edu X 1838 NC UNDERGRADUATE LIBERAL ARTS EDUCATION 37 35 2574 9324 -3329917 0 99528995 77600119 120938493 129609416 43501319 82297628 6015789 6444242 269984596 295951405 71018627 76583631 0 87265106 94224966 76306 121358 11972707 55558256 57291754 213918295 228221709 56066301 67729696 1895135622 2007739234 154615946 157642149 1740519676 1850097085 X UNDERGRADUATE LIBERAL ARTS EDUCATION false false 76503631 76503631 NEED-BASED AND MERIT AID AWARDED TO STUDENTS. 74052026 127200842 INSTRUCTION AND ACADEMIC PROGRAMS LEADING TO B.S. AND B.A. DEGREES FOR DAVIDSON STUDENTS. THIS INCLUDES SUPPORT OF INTERNATIONAL STUDENTS STUDYING AT DAVIDSON AND DAVIDSON STUDENTS STUDYING ABROAD. 17457438 STUDENT SUPPORT SERVICES INCLUDING THE COLLEGE UNION, ON-SITE MEDICAL CARE, STUDENT COUNSELING, CAREER SERVICES, COMMUNITY SERVICE PROGRAMS AND THE OFFICES OF ADMISSION AND FINANCIAL AID. 26477604 80000 8367013 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. 26477604 80000 8367013 194490699 true true false false false false false false false true true true false false true true true false true true true false false true false false false true true true false false false false false false false true false true true true false false false true false false false false true X 796 0 true 2574 true true true true UK false false false true true false false false true false false true X 37 35 false false false false false false false true true false false false true true true true true true true true false false CO DC KY AK MD MA MI NV NH NY OH OK OR SC WA X X EILEEN VALERIO 7048942210 PO Box 5000 Davidson NC 280357162 ANTHONY FOXX CHAIR, BOARD OF TRUSTEES X X 0 0 0 DOUGLAS A HICKS PRESIDENT X X 597223 0 245563 LISA GREEN CASE VICE CHAIR, BOARD OF TRUSTEES X X 0 0 0 STEVE SHAMES SECRETARY, BOARD OF TRUSTEES X X 0 0 0 ALISON HALL MAUZE TRUSTEE X 0 0 0 ANDY BERNDT TRUSTEE X 0 0 0 ANNE HURT KRIEG TRUSTEE X 0 0 0 BOB DUNHAM TRUSTEE X 0 0 0 CHAD MORGAN TRUSTEE X 0 0 0 CINTRA POLLACK TRUSTEE X 0 0 0 DAN BOONE TRUSTEE X 0 0 0 DAVID HALL TRUSTEE X 0 0 0 DAVID SPRINKLE TRUSTEE X 0 0 0 DOUG EY TRUSTEE X 0 0 0 DYLAN GLENN TRUSTEE X 0 0 0 EMMIT SKLAR TRUSTEE X 0 0 0 ERWIN CARTER TRUSTEE X 0 0 0 JACK PURCELL TRUSTEE X 0 0 0 JANET STOVALL TRUSTEE X 0 0 0 JESSICA DAVIS TRUSTEE X 0 0 0 JORDAN CLARK TRUSTEE X 0 0 0 JORDAN STARCK TRUSTEE X 0 0 0 KIRK WILLINGHAM TRUSTEE X 0 0 0 KRISTI MITCHEM TRUSTEE X 0 0 0 LESLIE GRINAGE TRUSTEE X 0 0 0 LILLIAN WOO TRUSTEE X 0 0 0 MARIA T ALDRICH TRUSTEE X 0 0 0 MARY TABB MACK TRUSTEE X 0 0 0 N ELIZABETH MCCAW TRUSTEE X 0 0 0 OLIVIA WARE TRUSTEE X 0 0 0 PREM MANJOORAN TRUSTEE X 0 0 0 ROBERT W HENDERSON TRUSTEE X 0 0 0 SALLIE PERMAR TRUSTEE X 0 0 0 TIARA ABLE HENDERSON TRUSTEE X 0 0 0 TIM SAINTSING TRUSTEE X 0 0 0 TOM FINKE TRUSTEE X 0 0 0 WHITNEY A WHITE TRUSTEE X 0 0 0 ANTOINETTE P MCCORVEY ASST SEC AND VP OF FIN & ADMIN X 409147 0 50630 HARRISON MARSHALL JR ASSISTANT SECRETARY X 0 0 0 SARAH PHILLIPS ASSISTANT SEC. & GENERAL COUNSEL X 317104 0 34496 CHRIS GRUBER VP & DEAN OF ADMISSION AND FA X 249507 0 62355 RAYMOND A JACOBSON CHIEF INVESTMENT OFFICER X 996210 0 51202 SHELLEY E RIGGER VP FOR ACAD AFF & DEAN OF FAC X 318838 0 42869 CHRISTOPHER A CLUNIE DIRECTOR OF ATHLETICS X 387431 0 78531 DAVID D DEMETER INVESTMENT DIRECTOR X 436603 0 47749 EILEEN KEELEY VP OF COLLEGE RELATIONS X 388505 0 46425 MATTHEW R MCKILLOP MENS BASKETBALL COACH X 489816 0 43970 ROBERT H MCKILLOP FORMER MENS BASKETBALL COACH X 419504 0 15191 5009888 0 718981 215 false true false Rodgers Builders 5701 N Sharon Amity Rd Charlotte NC 28215 Construction 12783846 Meyer Scherer & Rockcastle Ltd dba MSR Design 510 Marquette Ave S - Suite 200 Minneapolis MN 55402 Construction 3208099 Embree Reed Inc 3418-A Vane Ct Charlotte NC 28206 Construction 2856534 Jupiter Enterprises Inc dba Songha & Company LLC 2 Washington Square Village PH-H New York NY 10012 Sculpture project 1818750 Patterson Pope Inc 110 East Blvd Charlotte NC 28203 Digitalization project 1635930 64 3249733 74350386 17086888 77600119 TUITION AND STUDENT FEES 611600 127200842 127200842 NET SALES FROM AUXILIARY ENTERPRISES 721310 2408574 2408574 0 0 0 0 129609416 61681865 -3393537 65075402 0 0 189571609 168955846 20615763 0 20615763 20615763 NCAA/CONFERENCE FUNDS 711210 1476975 1476975 SPONSORSHIP 900099 422183 422183 EVENT REVENUE 900099 3183228 3183228 1361856 1298236 63620 0 6444242 295951405 135567855 -3329917 86113348 80000 80000 76503631 76503631 3504120 847659 2656461 71116161 60297863 4419961 6398337 5607258 4698177 393220 515861 8872278 6034239 2315001 523038 5125149 4212211 470401 442537 471359 135902 335457 332622 11461 321161 121358 121358 2736226 2736226 6655795 4752877 1651221 251697 441865 185571 230579 25715 7302853 5974707 631371 696775 3809813 1098579 1386205 1325029 1541 687 854 4235299 3891967 199814 143518 7403250 6951516 185427 266307 2410049 1165078 196450 1048521 2040005 1874633 165372 11185609 10278879 906730 1516899 158331 1358568 Other Expenses 6748569 5336731 1197824 214014 0 0 0 0 228221709 194490699 21758303 11972707 85521481 106292235 94762187 96568032 6962595 8421728 0 0 1485424 1208501 1036569 1137462 3185160 2986983 602030093 232275817 355951447 369754276 40003734 35543358 1270825435 1349381352 0 35401590 36445307 1895135622 2007739234 34462250 38733556 0 92250000 90565000 12650000 12650000 15253696 15693593 154615946 157642149 X 425129729 432354052 1315389947 1417743033 1740519676 1850097085 1895135622 2007739234 X 67729696 43890845 -2043132 X false true true true true X 45899865 88389630 45196809 99528995 77600119 356615418 0 0 45899865 88389630 45196809 99528995 77600119 356615418 63677001 292938417 43292159 47549885 54408418 60717074 65072402 271039938 0 1942947 4445128 5514257 5974866 6380622 24257820 651913176 162972284 0.44935 0.443 X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 0 0 0 0 0 0 Schedule A, Part II, Line 10 Other Income DESCRIPTION - , COLUMN A - 1942947.0, COLUMN B - 4445128.0, COLUMN C - 5514257.0, COLUMN D - 5974866.0, COLUMN E - 6380622.0, COLUMN F - 24257820.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1374503859 26039714 122888398 30196477 29102997 2970127 1461162370 1322217042 33935287 74881614 27398912 26482342 2648830 1374503859 1316039710 38918911 19730627 24689128 23798500 3984578 1322217042 1341387147 41186042 -20209240 22585306 21837772 1901161 1316039710 905857946 48882885 429105163 21018148 19819370 1621329 1341387147 0.16 0.84 false false 35169178 29739120 64908298 413911347 176548801 237362546 44977520 19967551 25009969 47328435 35759465 11568970 30904493 30904493 369754276 Closely-held equity interests Financial derivatives INT'L EQUITY NAD EMERGING MKTS 154813219 F HEDGE FUNDS 464758740 F VENTURE CAP/PRIV/PRIV DEBT 644209797 F DOMESTIC EQUITY 73838593 F OTHER 905340 F COMMON TRUST FUINDS 10855663 F 1349381352 Federal Income Taxes POST-RETIREMENT BENEFITS 15693593 15693593 X 297363986 43890845 33409559 77300404 220063582 2736227 73151596 75887823 295951405 187786577 35306485 35306485 152480092 2736227 73005390 75741617 228221709 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 FIN 48 (ASC 740) footnote 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, 2025, 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, 2025 AND 2024, MANAGEMENT HAS DETERMINED THERE WERE NO MATERIAL UNCERTAIN TAX POSITIONS. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 Auxiliary expenses to net down revenues - 33409559 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements Reclass of Financial Aid - 73151596 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 Auxiliary expenses to net down revenues - 33409559 Reclass of write-off of pledges - 388804 Collection items purchased but not capitalized - 1508122 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements Reclass of FA - 73151596 Change in value of split-interest (if expense) - -146206 true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY 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, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT DURING THE YEAR ENDED JUNE 30, 2025, 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) Central America and the Caribbean Investments 321039547 Europe (Including Iceland and Greenland) Investments 28248727 Sub-Saharan Africa Investments 24514484 North America (Canada & Mexico only) Investments 21497141 Europe (Including Iceland and Greenland) Program Services EDUCATIONAL 1071931 Sub-Saharan Africa Program Services EDUCATIONAL 130578 South America Program Services Educational 1407 0 0 0 0 0 0 396503815 0 396503815 true false true true true false X X X X X X X true Copper Reef Enterprises Inc dba Plus Delta Partners 6965 EL CAMINO REAL SUITE 105-488 CARLSBAD CA 92009 GIFT OFFICE TRAINING false 29246 -29246 Washburn & McGoldrick LLC 24 N BRYN MAWR AVE 252 BRYN MAWR PA 19010 CAMPAIGN CONSULTING false 70206 -70206 0 99452 -99452 CA CO CT DC FL GA AL HI IL KS KY LA ME AK MD MA MI MN MS NV NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA AR WA WV WI true TOWN OF DAVIDSON PO BOX 579 DAVIDSON NC 28036 566001212 GOVT 80000 N/A N/A CONTRIBUTION SCHOLARSHIPS AMD GRANTS FOR STUDENTS 1464 73151596 FMV TUITION REDUCTION RESEARCH/TRAVEL 3352035 FMV RESEARCH GRANTS Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds 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 false true false false false false false true false DOUGLAS A HICKS PRESIDENT 553391 0 41510 0 2322 0 113319 0 132244 0 842786 0 0 0 ANTOINETTE P MCCORVEY ASST SEC AND VP OF FIN & ADMIN 405756 0 0 0 3391 0 38067 0 12563 0 459777 0 0 0 SARAH PHILLIPS ASSISTANT SEC. & GENERAL COUNSEL 316428 0 45 0 631 0 34496 0 0 0 351600 0 0 0 RAYMOND A JACOBSON CHIEF INVESTMENT OFFICER 548885 0 446083 0 1242 0 38067 0 13135 0 1047412 0 0 0 SHELLEY E RIGGER VP FOR ACAD AFF & DEAN OF FAC 316670 0 0 0 2168 0 35453 0 7416 0 361707 0 0 0 CHRIS GRUBER VP & DEAN OF ADMISSION AND FA 247424 0 400 0 1683 0 47702 0 14653 0 311862 0 0 0 MATTHEW R MCKILLOP MENS BASKETBALL COACH 466116 0 23193 0 507 0 38067 0 5903 0 533786 0 0 0 DAVID D DEMETER INVESTMENT DIRECTOR 348732 0 87500 0 371 0 38067 0 9682 0 484352 0 0 0 ROBERT H MCKILLOP FORMER MENS BASKETBALL COACH 159904 0 254800 0 4800 0 15191 0 0 0 434695 0 0 0 EILEEN KEELEY VP OF COLLEGE RELATIONS 386720 0 0 0 1785 0 38067 0 8358 0 434930 0 0 0 CHRISTOPHER A CLUNIE DIRECTOR OF ATHLETICS 377611 0 9413 0 407 0 68067 0 10464 0 465962 0 0 0 Schedule J, Part I, Line 1a Travel for companions 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. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan test 1 Schedule J, Part I, Line 7 Non-fixed payments test 1 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. Schedule J, Part I, Line 4b PRESIDENT DOUGLAS HICKS' RETIREMENT AND OTHER DEFERRED COMPENSATION REPORTED ON PART II, COLUMN C INCLUDES $75,000 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 $20,000 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 $30,000 WHICH IS 457(F) FORFEITABLE DEFERRED COMPENSATION PAYABLE IN ACCORDANCE WITH HIS DEFERRED COMPENSATION AGREEMENT. Schedule J, Part I, 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. VMG TRUSTEE IS PARTNER'S WIFE 14328321 ENDOWMENT INESTMENT MCGUIREWOODS LLP ASSISTANT SECRETARY IS PARTNER 254650 LEGAL FEES 4 837725 Market value 46 75350 Other - AUCTION 149 14237355 Market value 1 1926723 Market value X 5 9735 Market value 0 false true true Schedule M, Part I, Line 32b Third parties used to solicit, process, or sell noncash contributions DAVIDSON COLLEGE UTILIZED STOCKBROKERS TO SELL STOCK GITS 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 Description of other program services (Expenses $ 26,477,604 including grants of $ 80,000)(Revenue $ 8,367,013) 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 16a 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 11b Review of form 990 by governing body 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 12c Conflict of interest policy 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 15a Process to establish compensation of top management official 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, Part VI, Line 19 Required documents available to the public 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 VIII, Line 11d Other Miscellaneous Revenue Other income - Total Revenue: 1361856, Related or Exempt Function Revenue: 1298236, Unrelated Business Revenue: 63620, Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Form 990, Part XI, Line 9 Other changes in net assets or fund balances Change in value of split interest agreements - -146206; Write Off of Pledges - -388804; Collection items Purchased But Not Capitalized - -1508122; Total - -2043132; CHARITABLE TRUSTS (16) CHARITABLE TR IN PRESBYTERIAN FD Trust CHARITABLE TRUST (1) CHARITABLE TR NC WELLS FARGO 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 false