Roanoke College

Nonprofit profile at a glance

EIN
540505945
IRS 990 coverage
2009–2023
Official website data refreshed
Sep 2026
Forms available
Form 990 2023
Location
Salem, Virginia, USA
Phone
540-375-2500
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Undergraduate College (4-year)

Official website

Reported finances

Revenue
$111,634,654
Expenses
$108,407,061
Assets
$384,792,538
Liabilities
$56,471,928

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

41 people listed

Executive titles in this filing

  • Michael C Maxey (President Emeritus)
  • Francis X Shushok Jr (President)
  • David B Mowen (Vice President Finance and Administration)
  • Katherine J Wolfe (Vice President Academic Affairs)
  • Kimberly P Blair (Vice President Advancement)
  • Melanie W Tolan (Vice President for Marketing & Communications)

Highest reported compensation

  • Michael C Maxey (President Emeritus): $589,590 total reported compensation
  • Francis X Shushok Jr (President): $417,598 total reported compensation
  • David B Mowen (Vice President Finance and Administration): $324,702 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Roanoke College is a private liberal arts college in Salem, Virginia, offering undergraduate and select online degree programs. It serves a diverse student body of about 426 first-year students and 92 transfer students, with a 17% underrepresented minority population. The college emphasizes mentorship, real-world experiences, and career preparation through accomplished faculty and programs like Intensive Learning (May Term) and study abroad. Its Maroons athletic program and vibrant campus life complement a curriculum that includes popular majors such as Business, Psychology, and Sport Management.

What it reported doing in 2023

Auxiliary Services - dining, residence halls, bookstore operated on campus for student use

Operating model

Revenue model
Other-operating. 86% of the money available for current operations came from other operating revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 62% for direct work, and 38% for grants.

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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 79
  • Accountability: 100
  • Sustainability: 62
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.4%; rating input score 84
  • Program expense ratio: 84.4%; rating input score 84
  • Fundraising efficiency: $6.95 raised per $1 spent on fundraising; rating input score 31; 31st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • 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: 100%; rating input score 100; 78th 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: 2.9%; rating input score 51; 51st percentile among comparable filings
  • Total-asset coverage ratio: 3.55; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0.15; rating input score 78; 78th percentile among comparable filings
  • Officer compensation ratio: 2.6%; rating input score 43; 43rd percentile among comparable filings

Growth

  • Program expense growth: 1.6% per year; rating input score 100; 15th percentile among comparable filings
  • Revenue growth: 2.2% per year; rating input score 100; 18th percentile among comparable filings
  • Asset growth: 4% per year; rating input score 100; 29th percentile among comparable filings

Details

  • What they do: 7 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 84.4% of revenue deployed · 84.4% of spending went to programs
  • Governance: 32 of 32 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $91.5M in reported program spending
  • Leadership: top reported pay $590K · 41 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 44 of 44 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2009 to 2023
  • 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 31/100.
  • Review — Sustainability: Operating margin scored 51/100.
  • Moderate — Sustainability: Officer compensation ratio scored 43/100.