Randolph-Macon College

Nonprofit profile at a glance

EIN
540505940
IRS 990 coverage
2009–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-T 2024
Location
Ashland, VA, United States
Phone
Main: (804) 752-7200; Admissions: (804) 752-7305
Rating
90
Verdict
STRONG
Rating confidence
Moderate
Sector
Undergraduate College (4-year)

Official website

Reported finances

Revenue
$126,051,166
Expenses
$117,124,357
Assets
$444,119,591
Liabilities
$87,253,839

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

56 people listed

Executive titles in this filing

  • ROBERT R LINDGREN ESQ (PRESIDENT)
  • JOHN MCMANUS (EXEC. ASST TO PRESIDENT)

Highest reported compensation

  • ROBERT R LINDGREN ESQ (PRESIDENT): $427,133 total reported compensation
  • BRENDA POGGENDORF (VP ENROLLMENT): $271,958 total reported compensation
  • CYNTHIA RUBENSTEIN (FOUNDING CHAIR OF NURSING): $249,619 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

A Randolph-Macon College liberal arts education develops the mind and character of each student. RMC’s mission underlies the college’s ultimate purpose: to prepare students for successful lives. And that commitment to students’ futures is tightly woven in nearly every part of the educational experience within which the pillars of our mission statement articulate how an RMC education lays the foundation for a successful life. ACADeMIC EXCELLENCE Founded in 1830, Randolph-Macon College is a residential, undergraduate, liberal arts college committed to academic excellence and devoted to the development of its students as lifelong learners, critical thinkers, and citizens of the world. Randolph-Macon emphasizes character development, ethical responsibility and personal accountability.

What it reported doing in 2024

Randolph-macon college is an institution of higher education providing a four year liberal arts curriculum to approximately 1,843 students.

Operating model

Revenue model
Earned-program. 81% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 56% for direct work, and 44% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 95
  • Accountability: 99
  • Sustainability: 68
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.7%; rating input score 90
  • Program expense ratio: 91.7%; rating input score 92
  • Fundraising efficiency: $4.26 raised per $1 spent on fundraising; rating input score 17; 17th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 6 of 6 controls in place; rating input score 100
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 97.8%; rating input score 98; 54th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 7.1%; rating input score 64; 64th percentile among comparable filings
  • Total-asset coverage ratio: 3.79; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0.2; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 2.3%; rating input score 49; 49th percentile among comparable filings

Growth

  • Program expense growth: 4.6% per year; rating input score 100; 36th percentile among comparable filings
  • Revenue growth: 4% per year; rating input score 100; 32nd percentile among comparable filings
  • Asset growth: 5.5% per year; rating input score 100; 40th percentile among comparable filings

Details

  • What they do: 1 operating location identified
  • Where the money goes: 89.7% of revenue deployed · 91.7% of spending went to programs
  • Governance: 44 of 45 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $107.4M in reported program spending
  • Leadership: top reported pay $427K · 56 people listed · 6 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $18.2M reported
  • Consistency: 39 of 39 current checks pass
  • Schedules: 11 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 12 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 17/100.
  • Moderate — Sustainability: Officer compensation ratio scored 49/100.